By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set for an explosive open on Wednesday after a below-consensus reading of headline U.S. inflation lit the touchpaper for a rally across all risky assets on Tuesday, although investors will be mindful…
By Noel Randewich and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday. Nvidia jumped 3.9%, becoming the first chipmaker to end a…
By Arriana McLymore NEW YORK (Reuters) – Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn’t meet its standards. According to Amazon, Temu, an e-commerce marketplace that launched in September, does not meet its “strict qualification…
By Karl Plume and Anirban Sen CHICAGO (Reuters) -U.S. grains merchant Bunge and Glencore-backed Viterra are merging to create an agricultural trading giant worth about $34 billion including debt, the companies said on Tuesday, in a deal that will likely draw close regulatory scrutiny. The deal brings the combined company closer in global scale to…
CHICAGO (Reuters) – Tyson Foods will lay off 228 corporate employees in Illinois who declined to relocate to the meatpacker’s Arkansas headquarters, eliminating about 46% of the total staff from two offices, the company confirmed on Tuesday. Employees have resisted a decision to consolidate corporate offices, which Tyson announced in October, as the company grapples…
By Howard Schneider WASHINGTON (Reuters) -Hotel executives see no letup in demand even with the Federal Reserve trying to stomp on spending. Air travel is hovering near or above 2019 levels, restaurant attendance is holding up, and based on the most recent Fed household data U.S. consumers likely still have a few hundred billion dollars…
(Reuters) – Federal Reserve policymakers were seen as more likely to skip raising interest rates this week, after government data Tuesday showed consumer price gains, while still too hot for comfort, slowed last month a bit more than expected. Futures tied to the Fed’s policy rate fell after the data, as traders firmed up bets…
By Daniel Leussink TOKYO (Reuters) -Toyota will introduce high-performance, solid-state batteries and other technologies to improve the driving range and cut costs of future electric vehicles (EVs), the automaker said on Tuesday, a strategic pivot that sent its shares higher. The Japanese giant’s technology roadmap, covering aspects as varied as next-generation battery development and a…
CHICAGO (Reuters) -U.S. grains merchant Bunge and Glencore-backed Viterra are merging in an $18 billion deal including debt, the companies said on Tuesday, creating one of the world’s largest agriculture trading firms. The deal brings Bunge closer in global scale to leading rivals Archer-Daniels-Midland and Cargill and will be examined closely by antitrust regulators. Shares…
BERLIN (Reuters) -German investor morale improved unexpectedly in June, the ZEW economic research institute said on Tuesday, while warning of persistent headwinds as export-focused sectors struggled with a weak global economy. The institute’s economic sentiment index remained in negative territory at -8.5 points, up from -10.7 points in May. A Reuters poll had pointed to…
