Yellen raps China for serving as ‘roadblock’ in debt restructuring process
By Andrea Shalal WASHINGTON (Reuters) – As the world’s largest official bilateral creditor, China should participate in meaningful debt relief…
Economy
Fed in discussions with banks about managing risks of AI: Waller
(Reuters) – The Federal Reserve has “regular discussions” with the banks it supervises about managing the risks associated with artificial…
With eye on IRA, Dowlais targets U.S. rare earth magnets for electric vehicles
By Nick Carey LONDON (Reuters) – UK auto supplier Dowlais is developing rare earth magnets for production in the U.S….
Salvadoran spreads tighten on IMF deal bets, bonds remain distressed
NEW YORK (Reuters) – Salvadoran bond spreads narrowed on Wednesday to their tightest since December 2021 in a rally triggered…
Deutsche Bank Russian profits leapt in 2022, even as assets dropped
(Reuters) – Deutsche Bank’s Russian subsidiary’s profits jumped by almost six times in 2022 to 5.4 billion roubles ($66.42 million),…
Debt ceiling jitters lift US credit default swaps to highest since 2011
By Karin Strohecker, Dhara Ranasinghe and Davide Barbuscia LONDON/NEW YORK (Reuters) -Market jitters over the U.S. debt ceiling lifted the…
Italy’s Prada to invest 60 million euros to help boost production capacity
By Elisa Anzolin VALVIGNA, Italy (Reuters) – Italy’s Prada is planning to spend 60 million euros ($66 million) on industrial…
Yellen: U.S. banking system remains sound
WASHINGTON (Reuters) – The U.S. banking system remains sound and the U.S. government will take “any necessary steps” to keep…
Eid shopping sees sharp drop as Pakistanis feel inflation pinch
By Ariba Shahid and Mubasher Bukhari KARACHI, Pakistan (Reuters) – Retail sales in Pakistan have witnessed a sharp drop compared…
AmEx’s costs, provisions cloud profit despite higher credit card use
By Siddarth S and Niket Nishant (Reuters) – American Express Co’s profit missed Wall Street estimates on Thursday despite higher…