By David Lawder WASHINGTON (Reuters) -The International Monetary Fund said on Thursday that first quarter global growth slightly outpaced projections in its April forecasts, but data since then has shown a mixed picture, with “pockets of resilience” alongside signs of slowing momentum. The IMF said in a briefing note for a G20 finance leaders meeting…
By Stephanie Kelly NEW YORK (Reuters) – Oil prices rose over 1% on Thursday to their highest in nearly three months after U.S. inflation data suggested interest rates in the world’s biggest economy were close to their peak. Brent crude futures rose $1.25, or 1.6%, to settle at $81.36 per barrel. The session peak was…
By Jane Lanhee Lee and Eduardo Baptista (Reuters) – The sale of struggling Silicon Valley startup zGlue’s patents in 2021 was unremarkable except for one detail: The technology it owned, designed to cut the time and cost for making chips, showed up 13 months later in the patent portfolio of Chipuller, a startup in China’s…
By Anna Tong SAN FRANCISCO (Reuters) – In a frenzy unseen since the birth of social media in the early 2000s, investors are pouring billions into generative AI and fueling a startup boom in San Francisco. At the same time, they are fueling hopes that the nascent AI sector will help revive the city’s decaying downtown…
By David Lawder WASHINGTON (Reuters) – The U.S. government posted a $228 billion budget deficit for June, up 156% from a year earlier as revenues continued to weaken and July benefit payments were accelerated into June, the U.S. Treasury Department said on Thursday. The deficit compares to a June 2022 budget gap of $89 billion….
(Reuters) – Goldman Sachs will report its worst quarterly earnings in years next week, with a return on equity in the low single digits, Semafor reported on Thursday citing people familiar with the matter. Writedowns on Goldman’s GreenSky consumer-lending business and on holdings of commercial real estate, are likely to exceed $2 billion, the report…
By Gabriela Baczynska BRUSSELS (Reuters) – The European Union’s lending arm on Thursday unveiled a new fund worth 400 million euros ($447 mln) to spend on rebuilding Ukraine before the bloc’s longer-term reconstruction plan kicks in. Sixteen of the EU’s 27 countries said they would chip in to the European Investment Bank’s (EIB) Ukraine Trust…
By Noele Illien and John Revill BERN (Reuters) -A Swiss parliamentary investigation into the role played by state institutions in the collapse and emergency rescue of Credit Suisse will take 12 to 15 months to complete, its president said on Thursday. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.48 billion) in…
(Reuters) – NextDecade Corp shares fell 23% on Thursday on investor worries over the terms of $18.4 billion financing the U.S. liquefied natural gas developer obtained to go ahead with the long-delayed Phase 1 of Rio Grande LNG export facility. The company had on late Wednesday said it was one of the largest greenfield energy…
By Chibuike Oguh NEW YORK (Reuters) – Shares in Viasat plunged by as much as 36% to about a one-year low on Thursday after the U.S. satellite communications firm disclosed that one of its key satellites malfunctioned during deployment in space. The company’s ViaSat-3 Americas satellite developed an unexpected fault during its deployment – an…
