WASHINGTON (Reuters) – U.S. wholesale inventories fell a bit less in April than initially estimated, which could provide a lift to economic growth in the second quarter. The Commerce Department said on Thursday that wholesale inventories slipped 0.1% instead of falling 0.2% as previously reported last month. Stocks at wholesalers dropped 0.2% in March. Economists…
By Jonathan Stempel NEW YORK (Reuters) – The former JPMorgan Chase & Co executive accused of shepherding the bank’s relationship with Jeffrey Epstein formally denied involvement in the disgraced financier’s sex trafficking, and blamed JPMorgan for keeping him as a client. In Wednesday night filings in Manhattan federal court, Jes Staley said his dealings with…
TAIPEI (Reuters) -Taiwan activated its defence systems on Thursday after reporting 37 Chinese military aircraft flying into the island’s air defence zone, some of which then flew into the western Pacific, in Beijing’s latest mass air incursion. China, which views democratically governed Taiwan as its own territory, has over the past three years regularly flown…
By David Shepardson WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) temporarily halted flights from the U.S. northeast, Ohio and Mid-Atlantic bound for New Philadelphia on Thursday, saying wildfire smoke from Canada was reducing visibility and impacting U.S. flights. The agency said it was delaying flights into New York City’s LaGuardia Airport with delays averaging…
WASHINGTON (Reuters) – The U.S. Department of Justice should investigate whether cryptocurrency exchange Binance made false statements to Congress in a written response to lawmakers this year, two Democratic U.S. senators said in a letter released on Thursday. “This is a serious matter,” Senator Elizabeth Warren and Chris Van Hollen wrote in a letter to…
WASHINGTON (Reuters) – Secretary of State Antony Blinken on Thursday welcomed the Ethiopian government’s commitment to investigate the diversion of American food aid away from people who needed it, the State Department said. The U.S. Agency for International Development (USAID) said earlier it was suspending food aid to Ethiopia after determining, in coordination with the…
By Lisa Baertlein LOS ANGELES (Reuters) – Unions hope a $30 million grant to electrify tractors in a Long Beach, California, port terminal’s final push to become the world’s first zero-emissions facility will serve as a bulwark against lost jobs in an era of energy transition and increasing automation. The money from U.S. President Joe…
SHANGHAI (Reuters) – U.S. luxury electric vehicle (EV) maker Lucid Group is preparing to enter the world’s largest auto market, its head of China operations Zhu Jiang said on Thursday. Lucid will sell imported cars in China while also considering local production in the country, according to a person familiar with the matter who was…
By Lewis Krauskopf NEW YORK (Reuters) – Worries that have dogged U.S. stocks for months are fading, pushing some Wall Street firms to raise their outlooks for equities and beckoning investors who have remained on the sidelines. Signs of strength in the economy, relief over a deal to raise the U.S. debt ceiling and an…
BEIJING/SHANGHAI (Reuters) -China on Thursday announced a nationwide campaign to promote automobile purchases in a major push to shore up demand in the world’s largest auto market. The announcement from the Ministry of Commerce came shortly after data showed passenger vehicle sales in China rose 7.3% in May from April, higher on the month but…
