By Alex Lawler LONDON (Reuters) -Oil prices rebounded on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill restored hopes of further demand growth in the world’s biggest oil consumer. U.S. Federal Reserve officials on Wednesday suggested interest rates could be…
By Junko Fujita and Ankur Banerjee TOKYO/SINGAPORE (Reuters) – As foreigners pile into Japan’s steepest stock market rally in years, local investors have been furiously cashing out or even betting against what many see as the beginning of a long-overdue era of profitability and returns. The Nikkei share average’s closed out its best month in…
By Julie Zhu HONG KONG (Reuters) – Tesla Inc CEO Elon Musk met with Chinese Vice Premier Ding Xuexiang on Wednesday afternoon in Beijing, a source familiar with the matter said. The source declined to provide details of the discussions. The previously unreported meeting followed meetings with China’s commerce and industry ministers earlier in the…
By Richa Naidu, Emma Pinedo and Emilio Parodi MADRID (Reuters) – Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. At one, in the northern town of Alfaro, they found 10 Ukrainian workers, five of them war refugees, who’d been…
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka’s central bank cut its key interest rates by 250 basis points on Thursday as inflation eased, signalling that the South Asian nation was emerging from a devastating financial crisis and ready for a rebound in growth. The Central Bank of Sri Lanka (CBSL) cut…
SHANGHAI (Reuters) -Tesla Inc Chief Executive Elon Musk departed Shanghai Thursday morning, wrapping up a two-day trip to China in which he met government ministers, a key battery supplier and visited the automaker’s biggest production hub. Photos of Musk’s visit to Tesla’s Shanghai factory late Wednesday showed him holding up a “Giga Shanghai” sign, flanked…
BEIJING (Reuters) -China’s factory activity unexpectedly swung to growth in May from decline, a private sector survey showed on Thursday, driven by improved production and demand, helping struggling firms that have been hit by slumping profits. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) rose to 50.9 in May from 49.5 in April, above the…
By David Morgan, Richard Cowan and Moira Warburton WASHINGTON (Reuters) – A divided U.S. House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default. The Republican-controlled House voted 314-117 to…
By Siddharth Cavale BENTONVILLE, Ark. (Reuters) – Walmart investors voted against all nine shareholder-led proposals during the retail giant’s annual meeting on Wednesday, a preliminary tally by the company showed. Shareholders were asked to vote on a number of issues including revealing its exposure to China and conducting an independent review of its safety practices…
By Luc Cohen NEW YORK (Reuters) -A former JPMorgan Chase & Co executive wrote in a 2011 email that the late financier and sex offender Jeffrey Epstein should not be a client of the bank, according to a transcript of a deposition of Chief Executive Jamie Dimon seen by Reuters. Dimon said in the deposition…
