BEIJING (Reuters) – The United States is seeking a healthy competition with China based on fair rules that benefit both countries, not a “winner-take-all” approach, U.S. Treasury Secretary Janet Yellen told Chinese Premier Li Qiang in a meeting in Beijing on Friday. Yellen, in prepared remarks, told Li she hoped her visit would spur more…
By Safiyah Riddle (Reuters) – The U.S. Black unemployment rate hit a 10-month high in June, driven in large part by Black workers leaving the labor market, a development some economists worry may be a “canary in the coal mine” that may mean a recession is approaching. The Labor Department’s closely watched monthly employment report…
By Nandita Bose and Steve Holland WASHINGTON (Reuters) – The White House on Friday said President Joe Biden and fellow NATO leaders will discuss at next week’s summit what steps Ukraine must complete to join NATO and that Kyiv has additional reforms to make, as it fights Russian invaders. Jake Sullivan, Biden’s national security adviser,…
By Brendan Pierson (Reuters) – The family of a transgender middle school student has sued to prevent Idaho from requiring public school students to use the restroom corresponding to their assigned sex at birth, in the latest fight over a U.S. state law targeting transgender youth. The family and a student association say the law,…
WASHINGTON (Reuters) – U.S. President Joe Biden said on Friday that his decision to provide Ukraine with cluster munitions was a tough one, but that he believes Kyiv needs the weapons so Russia cannot halt the Ukrainian counteroffensive. “They’re trying to get through those trenches, and stop those tanks from rolling,” Biden said in an…
By Ross Kerber (Reuters) – A group of 15 Republican state attorneys general have questioned whether directors of BlackRock mutual funds are sufficiently independent of the world’s largest asset manager. In a letter dated July 6 and provided to Reuters on Friday by a representative of Montana Attorney General Austin Knudsen, the group reviewed longstanding…
By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) -The dollar slumped on Friday after signs of a less resilient U.S. labor market reduced the outlook for how long the Federal Reserves will keep interest rates higher, while the yen surged on concerns the 10-year Treasury’s yield rose above 4%. The U.S. economy added the…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy added the fewest jobs in 2-1/2 years in June, but persistently strong wage growth pointed to still-tight labor market conditions that most certainly ensure the Federal Reserve will resume raising interest rates later this month. The Labor Department’s closely watched employment report on Friday also showed…
By Jonathan Stempel (Reuters) – Elon Musk has sued the elite law firm Wachtell, Lipton, Rosen & Katz to recover most of a $90 million fee it received from Twitter for defeating his bid to walk away from his $44 billion buyout of the social media company. The complaint by Musk’s X Corp, which owns…
By Jody Godoy (Reuters) – Twitter’s claim that Meta Platforms stole trade secrets to build its new microblogging site may be the first volley in a legal battle between the social media giants, but experts say Twitter would have to clear a high hurdle if it sues. In a letter sent on Wednesday, Twitter alleged…
