WASHINGTON (Reuters) – The Pentagon holds a strategic U.S. stockpile for germanium but currently has no inventory reserves for gallium, a spokesperson said on Thursday, after China announced export restrictions on the two metals used in semiconductors. “The (Defense) Department is proactively taking steps using Defense Production Act Title III authorities to increase domestic mining…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) – Canada recorded a surprise trade deficit in May, a sign economic growth may be slowing, as energy and grains dragged down exports and unwrought precious metals and motor vehicles contributed to a surge in imports. The country’s trade deficit with the world was C$3.44 billion ($2.59…
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Dallas President Lorie Logan said Thursday that there was a case for a rate rise at the June policy meeting, in comments that affirmed her view that more rate increases will be needed to cool off a still strong economy. “It would have been…
By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s central bank is set to hold its benchmark interest rate steady at 97% in the near term with optimism that monthly inflation will slowly ease, two bank sources said on Thursday, a boost for the government ahead of primary elections next month. The South American nation has annual…
WASHINGTON (Reuters) – U.S. job openings dropped in May, but remained at higher levels, indicating that labor market conditions were slowly easing. Job openings, a measure of labor demand, fell 496,000 to 9.824 million by the last day of May, the Labor Department said in its monthly Job Openings and Labor Turnover Survey, or JOLTS…
NEW DELHI (Reuters) -India’s state-run banks are confident of withstanding any macroeconomic shocks and expect their outlook to improve, despite headwinds in the global banking sector, the finance ministry said on Thursday. The asset quality of India’s state-run banks has improved with gross non-performing assets – the measure of a bank’s bad loans – at…
By Safiyah Riddle (Reuters) – American employers slowed downsizing in June, announcing the lowest number of layoffs since October 2022. According to the latest job cuts report from employment firm Challenger, Gray & Christmas released on Thursday, U.S.-based employers said they were cutting 40,709 jobs in June, down 49% from the number of cuts announced…
(Reuters) – Layoffs in the United States nearly halved in June from a month earlier as job cuts in the technology sector fell, according to data from employment firm Challenger, Gray & Christmas Inc. Corporate America has taken to laying off a large number of their workforce, as aggressive interest rate hikes by the Federal…
WASHINGTON (Reuters) – The U.S. services sector grew faster than expected in June as new orders picked up, but a measure of prices paid by businesses for inputs fell to more than a three year low, suggesting that the closely watched services inflation would continue to cool. The Institute for Supply Management (ISM) said on…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Volkswagen said on Thursday that it plans to launch autonomous, or self-driving, vehicles for ride hailing and goods delivery services in Austin, Texas by 2026. The German automaker, which had previously made a costly bet on Ford’s now closed self-driving car unit, Argo, has been partnering with supplier…
