(This May 8 story has been refiled to correct a misspelled word in paragraph 7) By Andrew Goudsward (Reuters) – Law firm Wilmer Cutler Pickering Hale and Dorr pushed back on Monday against an effort to bar the firm from defending JPMorgan Chase & Co in a lawsuit accusing the bank of helping to facilitate…
By Suban Abdulla LONDON (Reuters) – British property surveyors reported a drop in demand in April as new buyers turned more cautious ahead of the Bank of England’s latest expected interest rate increase, an industry survey showed on Thursday. The Royal Institution of Chartered Surveyors (RICS) said its measure of new buyer enquiries fell to…
By David Milliken LONDON (Reuters) – British Prime Minister Rishi Sunak risks missing his goal of halving inflation this year as underlying inflation shows little sign of having peaked in Britain or abroad, according to new economic forecasts published by a think-tank on Thursday. The National Institute of Economic and Social Research (NIESR) estimated annual…
By William Schomberg LONDON (Reuters) – The Bank of England (BoE) is poised to raise borrowing costs for the 12th meeting in a row on Thursday, as it tries to tackle stubbornly high inflation that stands at double the level of the United States and much higher than in the euro zone too. Investors are…
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) – Walt Disney Co reduced streaming losses by $400 million from the prior quarter but also shed subscribers, the company reported on Wednesday as quarterly earnings landed in line with Wall Street expectations. Shares of Disney fell 4.4% in after-hours trading. A price increase and reduced…
By Patricia Zengerle WASHINGTON (Reuters) – U.S. congressional leaders on Wednesday put off debate on the National Defense Authorization Act, or NDAA, an annual bill setting policy for the Pentagon, as the must-pass legislation got caught up in debate over raising the country’s borrowing limit. House of Representatives Armed Services subcommittees had been scheduled to…
By Jason Lange, Gabriella Borter and Joseph Ax (Reuters) -Republican vulnerabilities on abortion policy are on display in Ohio, with the party playing defense against a surge in abortion rights activism that could help President Joe Biden and his Democratic Party in next year’s elections. The Republican-controlled legislature on Wednesday approved a measure intended to…
By Richard Cowan and David Morgan WASHINGTON (Reuters) – Detailed talks on raising the U.S. government’s $31.4 trillion debt ceiling kicked off on Wednesday with Republicans continuing to insist on spending cuts, the day after Democratic President Joe Biden and top congressional Republican Kevin McCarthy’s first meeting in three months. Time is tight to avoid…
By Herbert Lash NEW YORK (Reuters) – A gauge of global stock markets rose and bond yields slid on Wednesday after data showed U.S. consumer prices in April rose at a slightly slower-than-expected pace, suggesting the Federal Reserve is succeeding in taming high inflation. The Consumer Price Index rose 0.4% after rising 0.1% in March,…
By Kate Lamb LABUAN BAJO, Indonesia (Reuters) – Southeast Asian leaders pledged on Wednesday to crack down on online scams operated by human traffickers to prey on vulnerable job seekers, particularly in the poorest countries of the region. Meeting in Indonesia for a summit of the Association of Southeast Asian Nations, the leaders called for…
