By Karen Lema MANILA (Reuters) – The United States has laid out in clear terms the extent of its defence treaty commitments to the Philippines, issuing new guidelines that refer specifically to attacks in the South China Sea, including on its coast guard. The six-page “bilateral defence guidelines” agreed in Washington on Wednesday follow a…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy. But borrowing costs could remain elevated for a while, with other data on Thursday showing labor costs surged in…
By Ernest Scheyder (Reuters) – Albemarle Corp plans to deploy new lithium filtration technologies in Chile as the government moves to broader control over its vast lithium sector and expand production of the metal used to make electric vehicle (EV) batteries, Chief Executive Kent Masters said on Thursday. While lithium for years has typically been…
By Timothy Gardner WASHINGTON (Reuters) – U.S. company Westinghouse unveiled plans on Thursday for a small modular reactor to generate virtually emissions-free electricity that could replace coal plants or power water desalinization and other industries. Rita Baranwal, the Westinghouse Electricity Co’s top technology officer, said the reactor, dubbed AP300 for its planned 300 Megawatt capacity,…
NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell said it was probably good policy that the largest banks are not doing big acquisitions, but said that JPMorgan Chase & Co’s acquisition of First Republic Bank was an exception. Regulators have to follow the law of going with the least-cost bid, Powell said. Regulators seized…
By Ismail Shakil and Fergal Smith OTTAWA (Reuters) -Canada’s imports and exports dropped to one-year lows in March, data showed on Thursday, a sign that global demand is likely slowing after a series of interest rate hikes by the world’s major central banks. Total exports fell 0.7% in March, largely on cheaper energy products, while…
WASHINGTON (Reuters) – A U.S. jury on Thursday reached a verdict in the trial of members of the Proud Boys right wing group charged with seditious conspiracy for their role in the Jan. 6, 2021, assault on the U.S. Capitol, federal prosecutors said. The verdict will be read shortly. (Reporting by Sarah N. Lynch; Editing…
TORONTO (Reuters) – Canadian economic activity expanded at a slower pace in April as growth in employment slipped and inventories declined, Ivey Purchasing Managers Index (PMI) data showed on Thursday. The seasonally adjusted index fell to 56.8 from 58.2 in March. A reading above 50 indicates an increase in activity. The Ivey PMI measures the…
LONDON (Reuters) – The U.S. Federal Reserve is close to the end of its interest rate hiking cycle, while the European Central Bank on Thursday slowed the pace of its aggressive tightening. Turmoil in the banking sector, particularly in the United States, is adding to central banks’ difficulties, leaving them juggling the need to control…
(Reuters) -Goldman Sachs Group Inc said in a filing on Thursday it is cooperating with government probes into collapsed Silicon Valley Bank. The Wall Street bank is “cooperating with and providing information to various governmental bodies in connection with their investigations and inquiries” into SVB, including the two companies’ dealings in March. Goldman was involved…
