(Reuters) -BofA Global Research and other banks raised their forecast for China’s 2023 gross domestic product (GDP) growth this week, after first-quarter economic growth data came in stronger than expected. BofA now expects China’s economy to grow 6.3% this year from 5.5% earlier, after climbing 4.5% in the first-quarter as policymakers moved to bolster growth…
WASHINGTON/MANILA (Reuters) – U.S. President Joe Biden will meet his Philippine counterpart Ferdinand Marcos Jr at the White House on May 1 to discuss economic cooperation and the Indo-Pacific region, Manila and Washington said on Friday. The treaty allies have enjoyed warmer ties since Marcos took office last June, reversing his predecessor’s anti-U.S. stance. Next…
By Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden may announce his re-election campaign by video as soon as Tuesday, two people familiar with the matter said on Thursday, setting the stage for a possible rematch with his Republican predecessor Donald Trump. A Tuesday announcement by Biden, 80, would come four years to the day…
By Svea Herbst-Bayliss NEW YORK (Reuters) – ValueAct Capital is pushing to oust Seven & i Holdings President Ryuichi Isaka, saying he is responsible for a “flawed strategy” and stating publicly for the first time that he is one of four directors it wants to replace at next month’s annual meeting. The San Francisco-based investment…
By Andrew Hay TAOS, New Mexico (Reuters) -New Mexico prosecutors on Thursday said they would drop involuntary manslaughter charges against actor Alec Baldwin in the fatal shooting of cinematographer Halyna Hutchins during filming of the Western movie “Rust” in 2021. The decision came after new evidence surfaced on the gun Baldwin was using that fired…
DETROIT (Reuters) – Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co needs to reshape its brand for the world’s largest car market, Chief Executive Jim Farley said. “We’re going to have to rethink what the Ford brand means in a place like China,” Farley told reporters on Thursday…
By Richard Cowan WASHINGTON (Reuters) – U.S. House Speaker Kevin McCarthy has begun working in earnest to persuade his fellow Republicans to support a $1.5 trillion increase in the nation’s debt ceiling, amid early indications of a possible revolt in his thin majority. McCarthy faces the toughest test of his young speakership with a bill…
By Joe Skipper and Steve Gorman BOCA CHICA, Texas (Reuters) -SpaceX’s next-generation Starship spacecraft exploded minutes after liftoff in an uncrewed test flight from South Texas on Thursday, cutting short a key step in Elon Musk’s development of a rocket vessel to eventually take humans to the moon and Mars. The flight test was the…
By Steve Gorman and Arlene Eiras LOS ANGELES (Reuters) – The spectacular explosion of SpaceX’s new Starship rocket minutes after it soared off its launch pad on a first flight test is the latest vivid illustration of a “successful failure” business formula that serves Elon Musk’s company well, experts said on Thursday. Rather than seeing…
By Leika Kihara and Takahiko Wada TOKYO (Reuters) -Japan’s consumer inflation held steady above the central bank’s target in March and an index excluding fuel costs rose at the fastest annual pace in four decades, data showed, indicating broadening price pressure in the world’s third-largest economy. The data may keep alive market expectations that the…
