By Shankar Ramakrishnan (Reuters) -Investor appetite for a type of debt issued mostly by banks to boost their capital is showing early signs of revival, just as interest rates on an estimated $120 billion of such securities are due to reset to much higher levels. So-called preferred securities, which are one of the riskiest forms…
(Reuters) – AI startup Nomic has raised $17 million in a new funding round from investors led by Coatue, the companies told Reuters. The investment valued New York-based Nomic AI, a team of four at the time, at $100 million, showing continued interest from VCs to bet on small teams building popular AI products. Contrary…
(Reuters) – Global money market funds attracted massive inflows in the week to Aug. 2 as investors sought safer assets amid a U.S. credit downgrade and weak economic data from the euro zone and China. Investors poured in a net $67.52 billion into global money market funds during the week, marking the biggest weekly net…
WASHINGTON (Reuters) – Production at U.S. factories rebounded in January, but output in the prior month was much weaker than initially thought amid higher borrowing costs that are hurting the manufacturing sector. Manufacturing output increased 1.0% last month, the Federal Reserve said on Wednesday. Data for December was revised down to show production at factories…
MIAMI (AP) — Long-battered shares of Carnival Corp. jumped more than 12% Friday as the cruise line owner reported a big increase in revenue, occupancy levels, and bookings for future trips. However, the company posted a $1.83 billion second-quarter loss and said the effects of the pandemic and higher fuel prices will lead to another…
By Howard Schneider WASHINGTON (Reuters) – Atlanta Federal Reserve President Raphael Bostic said Saturday he is ready to “move away” from three-quarter-point rate hikes at the Fed’s December meeting and feels the Fed’s target policy rate need rise no more than another percentage point to tackle inflation. “If the economy proceeds as I expect, I…
By Gabriela Baczynska BRUSSELS (Reuters) – The European Union’s lending arm on Thursday unveiled a new fund worth 400 million euros ($447 mln) to spend on rebuilding Ukraine before the bloc’s longer-term reconstruction plan kicks in. Sixteen of the EU’s 27 countries said they would chip in to the European Investment Bank’s (EIB) Ukraine Trust…
By Asif Shahzad ISLAMABAD (Reuters) – Prime Minister Shehbaz Sharif said on Wednesday that he hoped the $3 billion short-term bailout for Pakistan would be given final approval by the International Monetary Fund board when it meets on July 12. After eight months of negotiations, both sides signed a staff-level agreement on Friday, to avert…
WASHINGTON (Reuters) – The chief executives of General Motors Co, Ford Motor Co, Chrysler-parent Stellantis NV and Toyota Motor North America on Monday urged Congress to lift a cap on the $7,500 electric vehicle tax credit, saying it will “provide much-needed certainty to our customers and domestic workforce,” according to a letter seen by Reuters….
By Nick Carey (Reuters) – General Motors and Komatsu said on Tuesday they will jointly develop a hydrogen fuel cell power module for the Japanese construction machinery maker’s 930E electric drive mining truck. “Mining trucks are among the largest, most capable vehicles used in any industry, and we believe hydrogen fuel cells are best suited…
