SYDNEY (Reuters) – Australia’s economy grew at the weakest pace in 1-1/2 years last quarter as high prices and rising interest rates sapped consumer spending, and emerging signs suggest a further slowdown ahead amid a deceleration in global growth. Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product (GDP) rose…
(Reuters) – Salesforce Inc CEO Marc Benioff has made several changes at the business software maker’s top ranks and is attempting to bring back executives who left to join rivals such as Amazon and Oracle, news website Insider reported on Tuesday, citing a memo. Miguel Milano, who moved back from Celonis, has been appointed Salesforce’s…
(Reuters) -Rob Kindler, a top executive at Morgan Stanley, is leaving the investment bank after a 17-year stint to join a major law firm. The veteran dealmaker will join Paul, Weiss, Rifkind, Wharton & Garrison as the global chair of mergers and acquisitions (M&A), the law firm said on Tuesday. Based in New York, Kindler…
By Valerie Insinna and David Shepardson WASHINGTON (Reuters) -Boeing said on Tuesday it could be forced to slow deliveries of its 787 Dreamliner after the company discovered a new production flaw that will require it to inspect all 90 jets in its inventory, the latest in a series of setbacks for the widebody plane. While…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Chinese trade figures for May top the Asia-Pacific economic data and events calendar on Wednesday with investors keen to see whether April’s shock slump in imports is repeated, which will offer clues on the health – or otherwise…
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Tuesday requested a federal court put in place a temporary restraining order to freeze the U.S. assets of cryptocurrency exchange Binance. The motion, in a filing to the U.S. District Court for the District of Columbia, comes a day after U.S. regulators sued Binance and…
By Valerie Insinna and David Shepardson WASHINGTON (Reuters) -Boeing said on Tuesday it is slowing deliveries of its 787 Dreamliner after the company discovered a new production flaw, but expressed optimism that it can still deliver 70-80 of the widebody jets this year as planned. The problem, which does not pose a flight safety concern,…
By David Shepardson WASHINGTON (Reuters) – Amtrak CEO Stephen Gardner said on Tuesday the U.S. passenger railroad expects traffic to get back to pre-pandemic levels even as it projects about $800 million in losses for the current budget year. Gardner told a U.S. House subcommittee that ridership in the seven months ending April 30 was…
By Blake Brittain (Reuters) – Realtek Semiconductor Corp sued rival Taiwanese chipmaker MediaTek Inc in Northern California federal court on Tuesday, claiming MediaTek paid a company that sues over patents a “secret litigation bounty” to file meritless lawsuits in the United States to disrupt its business. The lawsuit accuses MediaTek of conspiring with IPValue Management…
By Marc Jones and Koh Gui Qing LONDON/NEW YORK (Reuters) -World shares edged higher on Tuesday as investors mulled whether a recent rally in stocks has legs to run further, while Treasury yields drifted higher as traders pared bets that U.S. rate cuts are on the horizon given sticky price pressures. Wall Street, where the…
