By Leika Kihara and Andrea Shalal NIIGATA, Japan (Reuters) -A standoff in Washington over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders starting on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy. The central bank governor of host Japan said…
By Sam Nussey and Kiyoshi Takenaka TOKYO (Reuters) -Japan’s SoftBank Group Corp on Thursday posted a sharply narrower annual loss after a capital raise using its stake in Alibaba Group Holding Ltd helped cushion investment loss at its Vision Fund investing arm. SoftBank reported a net loss of 970 billion yen ($7.18 billion) for the…
BEIJING (Reuters) – Australia’s Trade Minister arrived in Beijing On Thursday to meet his Chinese counterpart, as Canberra pushes for the removal of all trade barriers and for diplomatic relations to stabilise. Trade Minister Don Farrell said he would meet Chinese Commerce Minister Wang Wentao in Beijing and “be advocating strongly for the full resumption…
LONDON (Reuters) – The Bank of England must stay the course to ensure the level of inflation falls back to its 2% target, the central bank’s Governor Andrew Bailey said on Thursday. “We have to stay the course to make sure inflation falls all the way back to the 2% target,” he said at a…
(Reuters) – Shares of WW International Inc, also known as WeightWatchers, slumped more than 12% before the bell on Thursday after the weight-loss program operator said its top shareholder Artal Group S.A. had sold its remaining stake in the company in a block trade. Market sources told Reuters late on Wednesday that a block of…
By Andrea Shalal NIIGATA, Japan (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn and risk undermining U.S. global economic leadership. Yellen issued the latest in a series of increasingly stark warnings in remarks…
By Ludwig Burger FRANKFURT (Reuters) -Drug and pesticide maker Bayer said its 2023 results would likely come in at the lower end of its targeted range, hurt by cost inflation and a slump in prices of glyphosate-based weedkillers from last year’s highs. Bayer saw herbicide sales jump 44% in 2022 after Hurricane Ida damaged rival…
A look at the day ahead in U.S. and global markets from Mike Dolan Investor relief that ongoing U.S. disinflation takes pressure off the Federal Reserve to resume its 14-month interest rate rise campaign remains tempered by debt ceiling anxiety. While economists argue back and forth about the runes of April’s U.S. consumer price report,…
By Winni Zhou and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – China’s increasingly urgent efforts to tip its mountain of savings into the economy are running up against depositors shy of all but the safest investments, in the latest sign that weak confidence is holding back post-pandemic spending and growth. The latest move — prodding the “big…
By Foo Yun Chee, Martin Coulter and Supantha Mukherjee (Reuters) -European lawmakers came a step closer to passing new rules regulating artificial intelligence tools such as ChatGPT, following a crunch vote on Thursday where they agreed tougher draft legislation. The European Union’s highly anticipated AI Act looks set to be the world’s first comprehensive legislation…
