By Nell Mackenzie LONDON (Reuters) – Hedge fund launches in 2023 are at their lowest level globally since 2017, data provider Preqin said, against a backdrop of banking upheaval and bouts of market volatility. So far this year, 180 funds have started or plan to start trading, Preqin told Reuters on Tuesday. Untried trend managers…
WASHINGTON (Reuters) – The U.S. economy is slowing in an “orderly fashion” that should allow inflation to decline even as growth continues, Fed Governor Philip Jefferson said on Tuesday. “The economy has started to slow in an orderly fashion…I am of the view that inflation will start to come down and the economy will have…
(Reuters) – GlobalFoundries Inc projected quarterly revenue below estimates on Tuesday as the chip manufacturer takes a hit from slumping sales of smartphones and other consumer electronics, sending its shares down nearly 5% in premarket trading. The chip industry has struggled in the past few months due to a slowdown in orders from data center…
By Nupur Anand NEW YORK (Reuters) – U.S. home buyers are still committed to their plans to buy a property despite rising interest rates, high inflation and slowing growth, according to a study by Bank of America published on Tuesday. Of the 1,000 respondents surveyed, 54% said they will speed up their home purchase plans,…
By Giulio Piovaccari MILAN (Reuters) -Iveco Group is set to loosen ties with U.S. start-up Nikola as it said on Tuesday it was purchasing the full ownership of their joint venture which develops battery electric and fuel cell heavy-duty trucks. The Italian truckmaker and Nikola had formed the joint venture in 2019 to help Iveco,…
By David Lawder WASHINGTON (Reuters) -The U.S. government will begin defaulting on its payment obligations between early June and early August without an increase in the federal debt limit, the Bipartisan Policy Center said on Tuesday, flagging pressure from a drop in tax revenue. The front end of the centrist think tank’s latest estimate for…
(Repeats for additional subscribers) LONDON (Reuters) – The European Commission has announced restrictions on the imports of Ukrainian wheat, maize, rapeseed and sunflower seed in Poland, Hungary, Romania, Slovakia and Bulgaria until June 5. The move led to Poland, Hungary, Slovakia and Bulgaria lifting unilateral import bans they had imposed citing the need to protect…
By Nick Carey LONDON (Reuters) – Ford Motor Co said on Tuesday it will test a small fleet of prototype hydrogen fuel-cell versions of its electric E-Transit model to see if they are a workable zero-emission option for customers hauling heavy goods long distances. Ford will lead a consortium in the three-year project that includes…
By Joe Cash BEIJING (Reuters) – China’s imports contracted sharply in April, while exports rose at a slower pace, reinforcing signs of feeble domestic demand despite the lifting of COVID curbs and heaping pressure on an economy already struggling in the face of cooling global growth. China’s economy grew faster than expected in the first…
By Wayne Cole SYDNEY (Reuters) -Australia’s Labor government boasted the first budget surplus in 15 years on Tuesday, as strong jobs growth and bumper mining profits swelled its coffers, but it will quickly be swallowed up by spending on everything from health to energy and defence. In his second budget since winning power in May…
