By Kantaro Komiya TOKYO (Reuters) -Japanese factories slashed output for a third consecutive month in November, dragged down by weak demand for machinery products amid a deteriorating global economic outlook. The weak production bodes ill for Japanese firms as they face growing calls to raise workers’ pay to counter inflation, seen as essential for the…
(Reuters) – First Republic Bank is most likely headed for Federal Deposit Insurance Corp (FDIC) receivership, CNBC reported on Friday citing sources. Shares of First Republic were down 19%. The bank did not immediately respond to a Reuters request for comment. Earlier on Friday, Reuters reported U.S. officials are coordinating urgent talks to rescue the…
By Nick Carey (Reuters) – Israeli electric vehicle (EV) startup City Transformer aims to launch production of its small urban CT-2 model in Western Europe by the end of 2024 and will soon launch a Series B funding round to raise $50 million, the company said on Monday. Chief Executive Asaf Formoza told Reuters the…
By Hyonhee Shin and Soo-hyang Choi SEOUL (Reuters) -South Korea’s domestically made space rocket delivered a commercial grade satellite into orbit for the first time on Thursday, the country’s science minister said, a breakthrough in its ambitions to compete in a space race with its Asian neighbours. The Nuri rocket lifted off from Naro Space…
By Niket Nishant, Nupur Anand and David French (Reuters) – Banc of California and PacWest Bancorp will merge in an all-stock deal to create a bank with $36 billion in assets, the companies said on Tuesday, coming together just months after the regional banking sector was mired in crisis. To help fund the combination, the…
By Dawn Chmielewski, Danielle Broadway and Sachin Ravikumar LOS ANGELES/GLASTONBURY, England (Reuters) – Call it Beyflation. Or maybe Swiftflation. The cost of certain goods is retreating in some places, but that doesn’t include live music. Concert tickets have surged in price, to the point where economists are noticing. Fans are shelling out a fortune for…
SEOUL (Reuters) – South Korea’s home prices were flat in June, data showed on Monday, as prices in the capital Seoul city stopped falling for the first time in a year with sentiment improving for some apartment buildings. The nationwide house transaction price index slipped just 0.05% in June, following a 0.22% fall in May,…
VINNYTSIA, Ukraine (AP) — Russian missiles struck a city in central Ukraine on Thursday, killing at least 23 people and wounding more than 100 others far from the front lines, Ukrainian authorities said. Ukraine’s president accused Russia of deliberately targeting civilians in locations without military value. Officials said Kalibr cruise missiles fired from a Russian…
DOVER, Del. (AP) — A Delaware judge on Tuesday ordered attorneys for billionaire Elon Musk to create a log of certain documents that relate to former Twitter security chief Peiter “Mudge” Zatko but not directly to Zatko’s whistleblower complaint against the social media giant. The ruling came near the start of a three-hour hearing on…
(Reuters) – Contract drugmaker Emergent BioSolutions Inc said on Thursday it is aiming to price the over-the-counter (OTC) version of its opioid overdose reversal drug Narcan at around $50 per carton. The OTC version will become available at U.S. stores and online retailers later this summer, while the currently available prescription nasal spray carries a…
