By Trevor Hunnicutt, Steve Holland and David Brunnstrom WASHINGTON (Reuters) -The United States on Wednesday pledged to give South Korea more insight into its nuclear planning over any conflict with North Korea amid anxiety over Pyongyang’s growing arsenal of missiles and bombs. The announcement, which included a renewed pledge by Seoul not to pursue a…
By Selena Li and Engen Tham HONG KONG/SHANGHAI (Reuters) -Credit Suisse and a joint venture partner are seeking buyers for their China securities brokerage business due to the Swiss bank’s takeover by rival UBS, said two people with direct knowledge of the matter. Citigroup had at one point shown interest in acquiring Credit Suisse Securities…
(Reuters) – Money market funds are set for a reprieve on “swing pricing” when Wall Street’s top regulator votes on Wednesday to help control systemic risk in the money market and large liquidity fund sectors, Bloomberg News reported on Tuesday. Swing pricing involves adjusting a fund’s value in line with trading activity so that redeeming…
By Howard Schneider New York (Reuters) -When the Federal Reserve tacked to a new brand of monetary policy 18 months ago it thought it could deliver low unemployment and tame inflation. It may end up with neither, five top bank and academic economists wrote in a critique released on Friday. Their paper envisions a scenario…
MEXICO CITY (Reuters) -Mexican retail and bottling giant Femsa said Wednesday it had reached a “definitive” agreement to sell its stake in Jetro Restaurant Depot for $1.4 billion, furthering its strategy to simplify its business, and sending its shares up. The transaction will close in the second quarter of this year, when it will receive…
By Nina Chestney LONDON (Reuters) – Russian gas flows to Europe via Ukraine fell by a quarter on Wednesday after Kyiv halted use of a major transit route blaming interference by occupying Russian forces, the first time exports via Ukraine have been disrupted since the invasion. Ukraine has remained a major transit route for Russian…
HOUSTON (Reuters) – The United Steelworkers union (USW) rejected a pay increase offered by lead oil company negotiator Marathon Petroleum in talks for a agreement covering U.S. refinery workers, people familiar with the matter said on Friday. The offer was for a 4% pay increase over three years for 30,000 refinery and chemical plant workers…
By Pete Schroeder WASHINGTON (Reuters) -Sarah Bloom Raskin ended her bid to become the top bank regulator at the Federal Reserve on Tuesday, one day after Democratic Senator Joe Manchin said he would not support her, citing worries she would discourage banks from lending to oil and gas companies. With Raskin informing President Joe Biden…
WASHINGTON (AP) — Last month, U.S. employers might have shed jobs for the first time in about a year, potentially raising alarms about the economy’s trajectory. Yet even if the January employment report coming Friday were to show a deep loss of jobs, there would be little mystery about the likely culprit: A wave of…
By Sruthi Shankar, Bansari Mayur Kamdar and Susan Mathew (Reuters) – German shares vaulted almost 8% to lead strong gains across European stocks markets on Wednesday, as investors picked up beaten-down stocks following a rout sparked by fears about the fallout from the Ukraine crisis. Italian and French shares jumped around 7% each, while the…
