By Joice Alves LONDON (Reuters) – Big European companies have delivered significantly stronger than expected first-quarter results, defying a challenging economic backdrop that includes surging inflation and rising interest rates. But European stocks are down from a 14-month high in April, as investors worry about the health of the global economy, falling customer demand and…
By Jeff Mason HIROSHIMA, Japan (Reuters) -Democratic negotiators told President Joe Biden on Friday that they are making “steady progress” in talks with Republicans aimed at avoiding a U.S. default, according to a White House official. Biden received an update on the talks with aides to Republican House of Representatives Speaker Kevin McCarthy on Friday…
By David Shepardson WASHINGTON (Reuters) – Hyundai Motor and Kia Corp agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers’ vehicles, lawyers for the owners and the automakers said on Thursday. In February, the Korean automakers said they would offer software upgrades to 8.3 million U.S….
By Anirban Sen NEW YORK (Reuters) -Lazard Ltd CEO Ken Jacobs is expected to step down from his role and hand the reins to Peter Orszag, who currently runs the investment bank’s financial advisory unit, a person familiar with the matter said on Thursday. Jacobs’ decision to step down comes after Lazard reported a loss…
By Hyonhee Shin SEOUL (Reuters) – North Korea accused the U.S. and South Korea of ramping up “nuclear blackmail” with joint military drills, pledging to take corresponding action against what it called “warmongers’ madness,” state media KCNA said on Friday. U.S. and South Korean forces have been staging an intensified series of annual springtime exercises…
WASHINGTON/SEOUL (Reuters) -The U.S. Justice Department is considering suing to block Korean Air’s planned acquisition of Asiana Airlines, Politico reported on Thursday. The U.S. Department of Justice has been investigating the November 2020 deal for roughly two years, and is concerned that it will hurt competition on overlapping routes to the United States, the report…
WASHINGTON (Reuters) -A group of U.S. Senate Democrats called on President Joe Biden to prepare to invoke the U.S. Constitution’s 14th Amendment to avoid a debt default if negotiations with Republicans fail, according to a letter released on Thursday. Led by independent Bernie Sanders, who caucuses with the Democrats, the 11 lawmakers said while they…
TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said on Friday a U.S. debt default could trigger market turmoil, and will likely have a huge impact on the global economy. “There’s a chance it would cause turmoil in various markets … and affect a vast array of financial transactions,” Ueda told parliament, when asked…
By Jeff Mason and Trevor Hunnicutt HIROSHIMA, Japan (Reuters) – The United States and the rest of the “Group of Seven” major economies will unveil new sanctions and export controls targeting Russia over its war against Ukraine, a U.S. official said ahead of a G7 summit in Japan. G7 leaders are gathering in Hiroshima on…
By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) -Walt Disney Co is scrapping plans to build a nearly $1 billion corporate campus in central Florida that would have housed 2,000 employees, according to an e-mail to employees on Thursday, against the backdrop of its ongoing legal battle with Florida Governor Ron DeSantis. Disney parks…
