By Maxwell Akalaare Adombila and Christian Akorlie ACCRA (Reuters) -The International Monetary Fund’s executive board on Wednesday approved a $3 billion, three-year loan program for Ghana, allowing for an immediate disbursement of about $600 million and a potential path out of the West African country’s worst economic crisis in a generation. The IMF said in…
By Dave Sherwood and Nelson Acosta HAVANA (Reuters) – Russian and Cuban officials and business leaders on Wednesday announced new perks to entice Russian investors into the Cuban market, the latest sign of fast-growing economic ties between the two long-time political allies. Boris Titov, head of the Russian delegation of the Cuban-Russian Business Committee, told…
By Akash Sriram and Hyunjoo Jin (Reuters) – With Elon Musk outlining plans for Tesla Inc to use traditional advertising for the first time, viewers might see the electric-vehicle maker’s Model Y crossover or upcoming Cybertruck pickup – maybe even the billionaire CEO himself – on TV or online. Musk revealed those plans on Tuesday…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Investors in Asia go into Thursday with some major economic indicators from Japan and Australia and an interest rate decision from the Philippines on tap, and a spring in their step as hopes rise that a deal on…
By Jeff Mason and Kirsty Needham ABOARD AIR FORCE ONE/SYDNEY (Reuters) -U.S. President Joe Biden will arrange another summit of Pacific island leaders this year after the disappointment caused by his cancellation of a visit to Papua New Guinea due to the domestic debt ceiling crisis, his national security adviser said on Wednesday. Political analysts…
By Lisa Baertlein CHICAGO (Reuters) -The U.S. supply chain is healing from early pandemic shocks that sent shipping costs skyrocketing and squeezed supplies of everything from toilet paper to pasta, but more than three years later, material shortages and hiring woes linger. Rates for trucking, ocean shipping and other transportation tumbled after U.S. consumers shifted…
By Niket Nishant and Chibuike Oguh (Reuters) -Shares of U.S. regional lenders jumped on Wednesday on growing investor confidence that the worst of the banking crisis was likely over, following news of strong deposit growth at Western Alliance Bancorp. Deposits at Western Alliance grew by more than $2 billion in the three months to May…
By Dietrich Knauth NEW YORK (Reuters) – A U.S. bankruptcy judge on Wednesday ordered the U.S. Federal Deposit Insurance Corporation to return $10 million in seized tax refund checks to SVB Financial, the bankrupt former parent of failed Silicon Valley Bank. Judge Martin Glenn in Manhattan handed a victory to SVB Financial in broader dispute…
By Stephen Culp NEW YORK (Reuters) – Wall Street rallied to a higher close on Wednesday, gathering momentum throughout the afternoon trading, and the dollar touched a six-week high as regional banks surged and negotiations in Washington over raising the debt ceiling progressed. All three major U.S. stock indexes rallied to end up more than…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom has offered interoperability remedies in an effort to address European Union antitrust concerns over its $61 billion VMware bid, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed. The EU competition enforcer, which did not provide details…
