(Reuters) – Bank of New York Mellon Corp beat Wall Street targets for second-quarter profit on Tuesday as the U.S. Federal Reserve’s aggressive policy tightening boosted income earned from interest payments on loans. Higher rates have helped several big U.S. banks post strong profit for the quarter and signal a resilient economy, but a pullback…
By Aftab Ahmed and Shivangi Acharya GANDHINAGAR, India (Reuters) – Multilateral development banks must create a new funding mechanism and triple sustainable lending by 2030 to eliminate poverty and achieve climate goals, a G20 panel said in a report on Tuesday that called for big changes in the way MDBs operate. The independent panel, headed…
A look at the day ahead in U.S. and global markets from Mike Dolan The benign July investment environment gets tested on Tuesday by updates on U.S. retail sales and housing while the corporate earnings season kicks back into gear with another sweep of bank reports. Wall St ended in positive territory on Monday after…
MOSCOW (Reuters) -Road traffic was re-opened on one lane of the Crimean Bridge late on Monday following what Russia called a Ukrainian “terrorist attack” that damaged the structure, Russian Deputy Prime Minister Marat Khusnullin said. Khusnullin said the lane was being used for vehicles going from the town of Taman in southern Russia to Kerch…
By Hyonhee Shin and Josh Smith SEOUL (Reuters) -For the first time since the 1980s a U.S. nuclear-armed ballistic missile submarine (SSBN) visited South Korea on Tuesday, as the allies launched talks to coordinate their responses in the event of a nuclear war with North Korea. White House Indo-Pacific coordinator Kurt Campbell confirmed the rare…
SEOUL (Reuters) – For the first time since the 1980s a U.S. nuclear-armed ballistic missile submarine (SSBN) is in South Korea, a senior U.S. official said on Tuesday, as the allies launched talks to coordinate responses in the event of a nuclear war with North Korea. White House Indo-Pacific coordinator Kurt Campbell announced the long-expected…
TAIPEI (Reuters) – Taiwan is looking to buy National Advanced Surface-to-Air Missile Systems, or NASAMS, from the United States to upgrade its air defence capabilities having seen how well they work in Ukraine, the island’s defence minister said on Tuesday. China, which claims Taiwan as its own territory, has stepped up military and political pressure…
By Liliana Salgado PHOENIX (Reuters) -Asia, Europe and the United States baked under extreme heat on Monday as global temperatures soared toward alarming highs and U.S. leaders sought to reignite climate diplomacy with China. The United States was scorched by record-setting heat in the West and South, lashed with flood-triggering rain in the Northeast, and…
By Andrea Shalal (Reuters) – World Bank President Ajay Banga unveiled new plans on Tuesday to stretch the bank’s balance sheet and help countries tackle climate change and other challenges, but said a capital increase would still eventually be needed. Banga, a former Mastercard CEO who took over the helm of the World Bank on…
By Richard Cowan WASHINGTON (Reuters) -Maverick Democratic Senator Joe Manchin on Monday said he believed that having a third-party candidate run in the 2024 U.S. presidential election would “threaten” the two major political parties into tacking towards more moderate positions as their only path to victory. The former West Virginia governor left open the door…