By Uditha Jayasinghe COLOMBO (Reuters) – A year after angry Sri Lankans stormed the president’s residence and forced his ouster during a meltdown of the economy, the island’s streets are calm, there are no serpentine queues at fuel stations and hours-long power cuts have ended. The central bank expects the economy to resume growth this…
By Doyinsola Oladipo NEW YORK (Reuters) – A snapshot of 15 major U.S. hotel markets shows that travel to cities is rebounding, with one notable exception: San Francisco. Several hotel activity metrics, including average price per room, revenue per room, and supply growth, show most major cities have rebounded from the worst of the pandemic….
BEIJING (Reuters) – China published regulations on Sunday for the country’s $2.9 trillion private investment fund sector, seeking to better protect investors and promote innovation. The new rules, signed by Premier Li Qiang and effective on Sept. 1, create a chapter specifically for venture capital funds, as policymakers encourage investment into innovative technology start-ups, said…
MOSCOW (AP) — Russia on Monday granted citizenship to former American intelligence contractor Edward Snowden, who fled prosecution after he revealed highly classified U.S. surveillance programs to capture communications and data from around the world. A decree signed Monday by Russian President Vladimir Putin listed Snowden as one of 75 foreign citizens listed as being…
By Arathy Somasekhar (Reuters) – Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand. Brent futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per…
(Reuters) – U.S. Chapter 11 bankruptcy filings jumped 68% in the first half of 2023 from a year earlier, Epiq Bankruptcy, a provider of U.S. bankruptcy filing data, said on Monday. SVB Financial Group, Envision Healthcare Corp, Bed Bath & Beyond, Party City Holdco, Lordstown Motors and Kidde-Fenwal were among some casualties of decades-high interest…
PARIS (Reuters) – The U.S. presidential election could trigger a major energy shock if Republicans were to win and decide to halt hydrocarbon exports, Patrick Pouyanné, the chief executive of French oil major TotalEnergies, said on Saturday. “The only thing that could happen, which is a major systemic risk, is that the Republicans decide to…
By David Shepardson WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) said Thursday it may delay some space launches to minimize disruption to commercial air travel and provide “equitable” access to airspace near launch sites. Space launches have often snarled air schedules, especially in congested Florida airspace. Officials are worried about a repeat of last…
(Reuters) – U.S. bank Wells Fargo said on Monday Malcolm Price has joined its corporate and investment bank (CIB) as the head of financial sponsors, after 35 years at Credit Suisse. During his time at Credit Suisse, Price helped form its financial sponsors coverage business in 1996. He was the Swiss bank’s first head of…
By Devik Jain and David French (Reuters) – Wall Street’s main indexes dropped on Monday, giving up early gains in volatile trading, as investors adopted a cautious tinge ahead of the Federal Reserve meeting this week where policymakers are widely expected to raise interest rates. Complementing the weaker sentiment in equity markets, the yield on…
