By Sruthi Shankar and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq hit fresh 2023 highs on Friday before paring some gains, as a jump in Tesla and technology stocks outweighed jitters around the Federal Reserve’s policy outcome and inflation data next week. Tesla Inc shares climbed 4.9% and were set for their…
(Reuters) – Pandemic-related disruptions to global supply chains and the effects of Russia’s war in Ukraine have driven up prices of energy, commodities and other necessities. Here’s how governments are trying to help hard-hit consumers and companies: AMERICAS: * U.S. President Joe Biden’s drug pricing reform, part of the Inflation Reduction Act, penalises drugmakers for…
By Sruthi Shankar and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq hit fresh 2023 highs on Friday as Tesla shares jumped following a tie-up with General Motors, while investors awaited inflation data and U.S. monetary policy decision due next week. Tesla Inc shares climbed 5.7% after General Motors agreed to use the…
By Shadia Nasralla LONDON (Reuters) -Oil prices were broadly stable on Friday and were set for a second week of declines as concern over oil demand growth outweighed Saudi output cuts. Brent crude futures dipped 18 cents, or 0.3%, to $75.78 a barrel by 1334 GMT, while U.S. West Texas Intermediate crude was down 27…
MOSCOW (Reuters) -Russia’s central bank said the likelihood of an interest rate hike at future policy meetings had grown as inflationary pressures intensify, despite it leaving its key rate at 7.5% as expected on Friday. Annual inflation, which spiked to over 20-year highs in 2022, has slowed to below the bank’s 4% target in recent…
(Reuters) – Lordstown Motors said on Friday it plans to take legal action against investor Foxconn to ensure that the Taiwanese contract manufacturer completes a planned purchase of nearly 10% of the electric vehicle startup’s shares. The company, and its EV peers have been struggling as access to capital tightens from rising interest rates and…
(Reuters) – U.S. stock index futures slipped on Friday, a day after the benchmark S&P 500 marked a 20% rally from lows, while inflation data and U.S. monetary policy decision due next week kept investors on their toes. The S&P 500 has risen 20% from its Oct. 12 closing low, heralding the start of a…
By John Revill and Noele Illien ZURICH (Reuters) -UBS and the Swiss government signed on Friday an agreement to cover up to 9 billion Swiss francs ($10.00 billion) in losses from its emergency takeover of Credit Suisse, the country’s largest bank and the government said. The deal comes with various conditions, including a requirement that…
By Dmitry Zhdannikov, Ahmad Ghaddar and Alex Lawler LONDON (Reuters) – Saudi Arabia kept under wraps its plan to make a deep cut to its own oil output during a weekend of OPEC+ talks in Vienna, several OPEC+ sources told Reuters, with some member states only learning about the reduction from the final news conference….
By Leika Kihara TOKYO (Reuters) – The Bank of Japan (BOJ) is expected to maintain ultra-loose monetary policy next week and its forecast for a moderate economic recovery, as robust corporate and household spending cushion the blow from slowing overseas demand, sources said. The central bank also may signal that inflation is overshooting its forecasts,…