By David Shepardson and Nathan Gomes (Reuters) -General Motors Co on Monday said it had cut several hundred full-time contract workers over the weekend including at its engineering hub in suburban Detroit, the latest effort by the U.S. automaker to streamline operations. The contractors losing their jobs were within global product development at locations such…
By Rocky Swift TOKYO (Reuters) -Japan’s Astellas Pharma said on Monday it agreed to buy U.S. drugmaker Iveric Bio Inc for about $5.9 billion in its biggest acquisition, giving it access to a range of ophthalmology treatments. The deal marks the fifth major overseas acquisition by Astellas, Japan’s third biggest drugmaker by sales, since 2019…
(Reuters) – JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Monday it will buy most of First Republic Bank’s assets after U.S. regulators seized the troubled bank. The collapse marks the third major U.S. lender to fail in less than two months, after a week of panic which saw First Republic…
By Suleiman Al-Khalidi AMMAN (Reuters) -Syria has agreed to help end drug trafficking across its borders with Jordan and Iraq, according to a statement issued after a landmark meeting on Monday of Arab diplomats developing a roadmap to end Syria’s 12-year conflict. The foreign ministers of Syria, Egypt, Iraq, Saudi Arabia and Jordan met in…
By Andrea Shalal WASHINGTON (Reuters) -The World Bank on Monday unveiled new methodology and improved safeguards for assessing the business climate in up to 180 countries after embarrassing revelations of data irregularities and favoritism toward China forced it to cancel its flagship rankings two years ago. The bank scrapped its “Doing Business” rankings in September…
MANILA (Reuters) -Philippines President Ferdinand Marcos Jr said China has agreed to discuss fishing rights in the South China Sea, as he pushed for a “direct communication line” with Beijing on maritime differences. China has agreed to “sit down” and talk about Filipinos’ fishing rights in the South China Sea, Marcos said, adding he has…
By Clyde Russell LAUNCESTON, Australia (Reuters) -The surprise contraction in China’s manufacturing index in April, coming after first quarter growth exceeded expectations, underlines the uneven nature of the recovery in the world’s second-biggest economy. This variable economic story is likely to be mirrored in China’s imports of major commodities, with strength in some areas being…
(Reuters) – JPMorgan Chase & Co is buying most of First Republic Bank’s assets, which had been seized by United States regulators, in a last-ditch rescue for the strained lender, marking the third major U.S. bank to fail in two months. Last week, First Republic reported a more than $100 billion plunge in deposits in…
ABERDEEN, Scotland (Reuters) -Former U.S. President Donald Trump arrived in Scotland on Monday for a short trip to visit his golf courses in the country and in Ireland. Trump, who has family roots in Lewis, an island off the northwestern tip of Scotland, owns two golf courses in Scotland – one north of Aberdeen and…
LONDON (Reuters) -Inflation expectations in Britain eased in April, bank Citi said on Monday, offering some relief to the Bank of England which is expected to announce a 12th straight interest rate hike next week with investors betting on further increases after that. Citi said its monthly survey conducted by market research company YouGov showed…
