By Svea Herbst-Bayliss NEW YORK (Reuters) – Several prominent investors including hedge fund Baupost Group and mutual fund giant Fidelity bought or increased their holdings in retailer Amazon.com during the second quarter as its stock surge helped fuel Wall Street’s rally. Baupost Group owned 963,946 shares in Amazon on June 30, according to a regulatory…
TOKYO (Reuters) -Japan’s Mazda Motor Corp on Tuesday unveiled a $10.6 billion spending plan to electrify its vehicles and said it was also considering investing in battery production. The company also raised its sales target for electric vehicles (EVs) to up to 40% of its global total by 2030, as automakers worldwide spend billions of…
CHICAGO (Reuters) -American Airlines pilots have approved a new contract that includes more than $9.6 billion in total pay and benefits increases over four years, reflecting the bargaining power held by pilots in an era of airline staff shortages. The Allied Pilots Association (APA), which represents 15,000 pilots at the Texas-based carrier, said on Monday…
WASHINGTON (AP) — Wide-ranging bipartisan legislation unveiled Tuesday would regulate cryptocurrencies and other digital assets following a series of high-profile busts and failures. It’s unclear, though, whether the bill proposed by Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., can clear Congress, especially at a time of heightened partisanship ahead of midterm elections. The bill…
WASHINGTON (AP) — When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans. The fallout can be felt beyond America’s borders, hitting shopkeepers in Sri Lanka, farmers in Mozambique and families in…
By David Randall and Davide Barbuscia NEW YORK (Reuters) -Blistering inflation is threatening to reignite twin declines in U.S. stocks and bonds, leaving investors with few places to hide from a Federal Reserve that appears headed for its most aggressive policy tightening in decades. Friday gave a hint of what investors may see in coming…
By Ali Kucukgocmen ISTANBUL (Reuters) – Istanbul barber Hakim Ekinci, a long-time supporter of Tayyip Erdogan, won’t be voting for the president next Sunday, blaming his economic policies for eroding Turks’ purchasing power and leaving many unable to afford even basic foodstuff. Erdogan and his Islamist-rooted AK Party were able to maintain their voter base,…
By Tim Hepher PARIS (Reuters) – Shortages of Pratt & Whitney engines for Airbus A220 passenger jets have eased but it will take around 18 months before disruption is lifted altogether, the head of the airplane’s second-largest operator, airBaltic, told Reuters. A recall of Geared Turbofan engines for larger Airbus A320s for inspections and possible…
KOENIGSWINTER, Germany (AP) — The Group of Seven leading economies agreed Friday to provide $19.8 billion in economic aid to Ukraine to help keep tight finances from hindering its ability to defend itself from Russia’s invasion. German Finance Minister Christian Lindner told reporters that $9.5 billion of the total amount was mobilized at meetings of…
TOKYO (Reuters) – Tokyo aims to deepen its ties with the City of London by promoting financial collaboration and exchanging information, while promoting the push towards sustainable finance, Governor Yuriko Koike said on Thursday. “We exchanged views on how Tokyo and the City of London can collaborate in tackling sustainable finance as we face the…
