WASHINGTON (Reuters) – Negotiators’ continuing failure to reach an agreement to lift the U.S. debt ceiling forced the House of Representatives’ new China committee to postpone a planned trip to Taiwan, the committee’s chairman, Republican Representative Mike Gallagher, told reporters on Thursday. The House adjourned on Thursday and was not due to return until June…
By Angelo Amante and Ilona Wissenbach ROME (Reuters) -Lufthansa will take a 41% stake in ITA Airways by way of a 325 million euro ($358 million) capital increase that will flow directly to the Italian carrier, the German group said on Thursday. The deal comes as Europe’s airlines struggle to repair their balance sheets after…
By David Shepardson WASHINGTON (Reuters) -A group of 27 Senate Republicans on Thursday called on the Biden administration to drop its plan to drastically cut vehicle emissions through 2032 and ramp up electric vehicle sales. In a letter led by Senator Shelley Moore Capito, lawmakers said the administration plan will “effectively mandate a costly transition…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar’s dominance in international trade and finance will persist for decades despite new challenges and even when a more multipolar currency system emerges it will be led by the greenback, Moody’s Investor Service said on Thursday. While the multi-decade fall in the dollar’s share of…
By Caroline Valetkevitch NEW YORK (Reuters) – Short sellers in shares of Nvidia Corp. were down $2.3 billion in mark-to-market losses Thursday as the stock surged more than 25% in early trading following the chipmaker’s blowout forecast, according to financial data firm S3 Partners. For the year to date, including this morning’s move, Nvidia shorts…
BRASILIA (Reuters) – Brazil’s state development bank BNDES will provide 4 billion reais ($799.47 million) in dollar-denominated financing for local industry, Vice President Geraldo Alckmin said on Thursday. He also announced the government would lower the PIS and COFINS federal taxes levied on vehicles of up to 120,000 reais in a bid to modernize the…
By Nandita Bose and Jarrett Renshaw WASHINGTON (Reuters) -U.S. President Joe Biden and top Republican lawmaker Kevin McCarthy are edging close to a deal on the U.S. debt ceiling, with the parties just $70 billion apart on discretionary spending, according to a person familiar with the talks. What is likely to emerge will not be…
By Michael S. Derby NEW YORK (Reuters) – Boston Federal Reserve President Susan Collins said on Thursday the time may be at hand for the U.S. central bank to push the pause button on its interest rate hiking campaign to see how the impact of past tightening is weighing on activity. “While inflation is still…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. company Viasat has won unconditional EU antitrust approval to acquire British satellite rival Inmarsat for $7.3 billion, the European Commission announced on Thursday, adding that the merger would not raise competition concerns. The companies, which compete with market leaders Panasonic and Intelsat in the market for wi-fi…
By Foo Yun Chee BRUSSELS (Reuters) – Europe’s artificial intelligence (AI) rules are not for negotiation, EU industry chief Thierry Breton said on Thursday, as he criticised OpenAI CEO Sam Altman’s threat to quit the continent if it cannot comply with the legislation. Altman’s comments at a conference a day earlier came as the European…
