By Ann Saphir (Reuters) -Americans borrowed more than ever on their credit cards in the last quarter, the New York Federal Reserve Bank said on Tuesday, with balances surpassing $1 trillion for the first time even as overall household debt loads were largely unchanged. Credit card balances rose by $45 billion to $1.03 trillion in…
By Chayut Setboonsarng BANGKOK (Reuters) – From the back of open-top trucks and cars, candidates of Thailand’s political parties drove through Bangkok on Saturday, as a months-long campaign that could usher in a new government for the first time in nearly a decade drew to a close. Prime Minister Prayuth Chan-ocha faces an uphill battle…
The Federal Reserve may have to raise its benchmark interest rate much higher than it has previously projected to get inflation under control, James Bullard, president of the Federal Reserve Bank of St. Louis, said Thursday. Bullard’s comments raised the prospect that the Fed’s rate hikes will make borrowing by consumers and businesses even costlier…
By Fergal Smith TORONTO (Reuters) – The Canadian dollar is set to rally over the coming 12 months as pressure grows on the Bank of Canada to resume its interest rate hiking campaign and some of the appeal of the U.S. dollar potentially fades, a Reuters poll showed on Wednesday. While the loonie was expected…
(Reuters) – WestJet group is planning to wind down low-cost carrier Sunwing Airlines and integrate it into its main business, according to a memo seen by Reuters. The move is part of the integration process by WestJet which completed the acquisition of Sunwing airlines in May. Once the integration is complete, all Sunwing employees will…
By Jonathan Stempel (Reuters) -Berkshire Hathaway Inc said it bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing Co , a rare significant foray into the technology sector by billionaire Warren Buffett’s conglomerate. In a Monday regulatory filing describing its U.S.-listed equity investments as of Sept. 30, Berkshire said it owned about 60.1…
KALGOORLIE, Australia (Reuters) – BHP Group will increase its spending on nickel exploration over the next two years to meet growing demand for the raw material used in making electric vehicle batteries, the chief of its nickel operations said on Wednesday. BHP, through its Nickel West unit, has supply agreements for the metal with Tesla…
By Blake Brittain (Reuters) – Vanda Pharmaceuticals Inc has sued the federal government in Washington, D.C., federal court over accusations that the U.S. Food and Drug Administration passed trade secrets about its schizophrenia drug Fanapt and sleep-disorder medication Hetlioz to generic competitors. In a complaint made public Tuesday, Vanda said the agency disclosed confidential details…
By Ann Saphir SAN FRANCISCO (Reuters) – Two more U.S. interest-rate hikes this year is a “very reasonable” projection, San Francisco Federal Reserve Bank President Mary Daly said, but given how fast rates have risen already and how close they are to where they probably need to be, it’s better to move more slowly and…
TOKYO (Reuters) -Uniqlo owner Fast Retailing Co and Japan Tobacco Inc on Thursday said they would suspend some operations in Russia, in a U-turn by the Japanese consumer giants which had indicated they would stay in the market after Moscow’s invasion of Ukraine. The two companies were notable stand outs among major brands, saying they…
