(Reuters) – A look at the day ahead in U.S. and global markets from Samuel Indyk. Another day, another meeting in Washington. President Joe Biden and senior Republicans, including House Speaker Kevin McCarthy, are to sit down on Tuesday in an attempt to thrash out a deal to raise the debt limit and avoid a…
(Reuters) – Tesla Inc CEO Elon Musk has said that the company can make no new hires unless he personally approves them, including contractors, according to a copy of the email seen by Reuters. According to the email, Musk told executives to send him a list of hiring requests on a weekly basis, while also…
BRUSSELS (Reuters) – Euro zone economic growth was 0.1% quarter-on-quarter in the first three months of the year, the EU’s statistics agency confirmed on Tuesday, with rising employment and a sharp increase in exports that boosted the euro zone trade surplus. Eurostat also confirmed its earlier estimate that gross domestic product in the 20 countries…
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Australian fund Macquarie is raising legal hurdles over a plan backed by Italy’s Treasury for state lender CDP to join forces with U.S. fund KKR to buy Telecom Italia’s (TIM) landline grid, three sources said. TIM <TLIT.MI> directors have set a final deadline of June 9 for…
LONDON (Reuters) – Investors lifted equity allocations to a 5-month high but cash levels also increased to 5.6%, even as they remained worried about a possible credit crunch and inflation staying elevated, a Bank of America survey showed on Tuesday. The survey of 289 fund managers with a total of $753 billion in assets showed…
(Reuters) – Tesla Inc has applied for regulatory clearance to expand its Shanghai plant and to begin producing for the first time pouch-type battery cells, albeit in small numbers. An undated public notice said the potential expansion would give the Shanghai Gigafactory the capacity to produce 1.75 million powertrain units annually, up from 1.25 million…
By David Lawder, Andrea Shalal WASHINGTON (Reuters) -The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, increasing pressure on congressional Republicans and the White House to reach a deal in coming days. In her second letter to Congress…
By Toby Sterling ANTWERP, Belgium (Reuters) – EU industry chief Thierry Breton on Tuesday touted the European Chips Act passed last month, saying Europe must manufacture its own cutting-edge computer chips and not be relegated to a position on research or in building relatively older chips. “With the Chips Act now agreed, we are sending…
(Reuters) -Morgan Stanley is considering a 7% cut in its Asia-Pacific investment banking workforce, or about 40 jobs, according to a source with direct knowledge of the matter. The cuts would mainly impact the investment banking and capital markets business in the region, not including Japan. A Morgan Stanley spokesperson declined to comment. The job…
(Reuters) -Nelson Peltz, the activist investor who launched and then gave up a proxy fight earlier this year at Walt Disney Co, has recently added to his stake in the company, Bloomberg News reported on Monday. Peltz-owned Trian Fund Management has purchased roughly 500,000 more shares since the end of March, giving it a total…
