By Savyata Mishra (Reuters) -Kohl’s Corp on Wednesday reported a surprise profit as its new CEO’s efforts to turn around the company that saw its margins slump last year started showing results, sending the department store chain’s shares up as much as 19%. The company also maintained its full-year targets even as it posted a…
BEIJING (Reuters) – China’s foreign ministry on Monday urged the United States to have the right understanding of China, meet it halfway and bring bilateral relations back on track. Mao Ning, a ministry spokesperson, made the remarks in response to U.S. President Joe Biden suggesting that a shift in U.S.-China relations could occur soon. (Reporting…
VATICAN CITY (Reuters) – Pope Francis on Sunday called for warring factions in Sudan to set aside their weapons, expressing sadness at the violence that has continued for more than a month in the African nation. “In encouraging the partial agreements reached so far, I renew my heartfelt plea for weapons to be set aside,”…
BEIJING (Reuters) – Chinese search engine giant Baidu’s CEO Robin Li said on Friday that the company will “very soon” officially launch Ernie 3.5, a generative AI large-language model that will power Baidu’s ChatGPT-like app Ernie Bot and upgrade its search engine. Li made the announcement at the Zhongguancun Forum, one of China’s most well-known…
By Curtis Williams HOUSTON (Reuters) – The U.S. Department of Energy’s refusal to grant export permit extensions to liquefied natural gas (LNG) developers that fail to meet a construction deadline poses a new hurdle for greenfield plants, analysts said on Thursday. The DOE last month said it would grant future extensions solely on extenuating circumstances…
FRANKFURT, Germany (AP) — The European Central Bank slowed its record pace of interest rate increases slightly Thursday but promised that more hikes are on the way, joining the U.S. Federal Reserve and other central banks in reinforcing an inflation crackdown despite some recent headway against the high prices that are plaguing consumers. The ECB,…
By Ann Saphir (Reuters) – Federal Reserve Chair Jerome Powell won high marks from Wall Street as he dialed up expectations late last year for a more hawkish policy stance to quell rising inflation, a survey by the New York Federal Reserve published Thursday showed. The report card is included in the New York Fed’s…
BEIJING (Reuters) -China will step up financial support to small and private businesses in the catering and tourism sectors that were hit hard by the COVID-19 epidemic, the country’s banking and insurance regulator said in a statement on Tuesday. Contact-intensive services sector suffered the most amid China’s anti-virus curbs which shut many restaurants down and…
By James Oliphant and Jason Lange WASHINGTON (Reuters) -If Ron DeSantis hopes to defeat Donald Trump and win the 2024 Republican presidential nomination, he will ultimately have to bring every possible anti-Trump voter he can into the fold. But even that likely will not be enough, political analysts say. DeSantis will also have to pull…
By Jihoon Lee SEOUL (Reuters) -South Korea’s economy sped up faster than expected in the second quarter, flattered by headline improvements in trade although weaker consumer and business spending add to the case for the central bank to loosen its restrictive monetary policy. Gross domestic product (GDP) grew by a seasonally adjusted 0.6% in April-June…
