By Qiaoyi Li and Kevin Yao BEIJING (Reuters) -China’s new bank loans jumped more than expected in June from the previous month, helped by central bank efforts to support the economy as a post-pandemic recovery fades. Chinese banks extended 3.05 trillion yuan ($423.45 billion) in new yuan loans in June, more than double May’s tally…
(Reuters) – U.S. banking giants are scheduled to report second-quarter results starting this week as the industry tries to move past the turmoil caused by the crisis in regional lenders earlier this year. An S&P index of U.S. bank stocks has fallen more than 9% this year as investors fret about the effect of high…
LONDON (Reuters) – Deutsche Bank said on Tuesday it now expects the Bank of England to raise interest rates by half a percentage point at its August meeting. Data released earlier in the day showed a key measure of British wages rose at the joint fastest pace on record. “For now, evidence of still more…
(Reuters) – Sam Altman-backed Oklo has agreed to go public in the United States through a merger with his blank check firm in a deal that values the nuclear startup at $850 million, the companies said on Tuesday. Altman is bringing together Oklo that provides emission-free and affordable energy solutions and his special purpose acquisition…
By Victoria Waldersee and Jan Schwartz BERLIN/HAMBURG (Reuters) – Volkswagen was challenged by an investor association on Tuesday about the planned audit of its co-owned site in Xinjiang, China, adding to concerns raised by human rights activists that the measure would be ineffective. The Association of Critical Shareholders (DKA), which represents small investors on environmental,…
By Foo Yun Chee BRUSSELS (Reuters) – The European Commission on Tuesday set out a plan in a bid to take the lead in the metaverse – shared virtual worlds accessible through the internet – and to prevent Big Tech dominating a nascent sphere that could boost economic growth. The EU initiative comes as Facebook…
By Jeffrey Dastin and Stephen Nellis (Reuters) – Anthropic, an artificial intelligence startup backed by Google, on Tuesday widened consumer access to its chat program Claude and upgraded underlying technology that the company says makes “Claude 2” better at tasks such computer coding and arithmetic. The San Francisco-based company said its new AI model, the…
(Reuters) – The decline in global personal computer shipments slowed in the second quarter, with Apple outperforming the market with a 51% jump thanks to strong demand for its recently launched 15-inch MacBook Air, data from research firm Canalys showed. The report adds to early signs of a recovery in the industry, which has been…
SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva said on Tuesday he expects the Senate to pass by the end of the year a proposed tax reform restructuring the country’s complex consumption taxes, which gained approved from the lower house last week. “I hope the Senate will repeat what the lower house did…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of New York President John Williams said the central bank is not done raising its short-term rate target, in an interview with the Financial Times published on Tuesday. “We’ve indicated through our projections and our communications that we think we still have some ways…
