Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
Timing of Bank of Canada’s rates lift-off on knife’s edge; Jan. 26 hike possible: Reuters poll
By Shrutee Sarkar and Sarupya Ganguly BENGALURU – The Bank of Canada will raise interest rates earlier than was thought a month ago, with only a slim majority of economists polled by…
New Zealand water ship unloads in Tonga as other aid trickles in
By Praveen Menon, Kirsty Needham and Tom Westbrook WELLINGTON/SYDNEY – Life-saving water supplies from a New Zealand navy ship were distributed across Tonga’s main island on Friday, as other countries battled the…
China Evergrande’s offshore debt, assets could be separated in restructuring – report
By Clare Jim and Brenda Goh HONG KONG/SHANGHAI -The provincial government leading China Evergrande Group’s restructuring wants to separate the company’s offshore assets and sell them to pay off foreign debt, a…
China’s economy poised to grow around 5.5%, cabinet adviser says
By Kevin Yao BEIJING -China will be able to achieve economic growth of around 5.5% in 2022, an adviser to the government’s cabinet said on Friday, making a rosier prediction than markets…
Brexit ends UK ‘landbridge’ for Irish/EU trade, port boss says
DUBLIN – The UK landbridge that offered traders the fastest route between Ireland and the European continent before Brexit will not re-emerge as a preferred option for moving goods, the head of…
Toyota to curb more production in Japan as COVID spreads
(Toyota corrects number of affected plants to 12 from 11) TOKYO -Toyota Motor Corp is slowing production at as many as 12 plants in Japan because of rising COVID-19 infections among its…
China caps weekly policy easing blitz with fresh rate cuts
SHANGHAI -China’s central bank said on Friday it has cut interest rates on another key monetary policy tool, capping off a week of easing measures that underscore official concern about a darkening…
China will appropriately step up policy support for economy -premier
BEIJING – China will appropriately step up policy support for the economy as it faces new downward pressure, Premier Li Keqiang was quoted by state media as saying. But Li, in the…
Explainer-Russia’s financial health amid geopolitics-driven market sell-off
By Katya Golubkova MOSCOW – Russian assets are under pressure as investors worry about the possible extension of U.S. sanctions or new EU measures targeting officials, banks and the energy sector if…
U.S. charges man with human smuggling after 4 freeze to death near Canada border
-U.S. authorities on Thursday charged a man with human smuggling of Indian nationals from Canada, the day after four people including a baby were found frozen to death in a remote part…
Piraeus Bank to buy additional stake in real estate company Trastor
ATHENS – Piraeus Bank has agreed with investment firm Varde Partners to buy its controlling stake in Trastor Real Estate Investment Company for about 98 million euros ($111.04 million), the bank said…
Swiss bank UBP boosts assets under management 8.8% in 2021
ZURICH – Swiss bank Union Bancaire Privee said assets under management rose 8.8% in 2021 to 160.4 billion Swiss francs ($175.40 billion), helped by favourable market conditions and net capital inflows of…
Amundi’s China wealth JV garners $11 billion in 15 months since launch
By Selena Li HONG KONG – Europe’s largest asset manager Amundi has garnered more than $11 billion of assets from Chinese investors since it became the first foreign-controlled joint venture (JV) to…
Japan’s Kishida says up to BOJ to decide on exit from easy money policy
By Tetsushi Kajimoto and Leika Kihara TOKYO -Japanese Prime Minister Fumio Kishida reiterated on Friday that it was up to the central bank to decide on an exit strategy from its massive…
Gloomy Netflix forecast erases much of stock’s pandemic gains
By Lisa Richwine LOS ANGELES -Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20% and wiping away most of its…
South Korea’s IPO boom leaves investment banks short changed
By Scott Murdoch and Heekyong Yang HONG KONG/SEOUL – South Korea’s equity offering boom has created a money spinning opportunity for issuers and investors, but it has brought little cheer to at…
Peloton plans workforce size review, production changes
– Peloton Interactive Inc’s chief executive said on Thursday the company was reviewing the size of its workforce and “resetting” production levels, following a report earlier in the day that it was…
South Africa gets $750 million World Bank loan to bolster COVID recovery effort
CAPE TOWN – The World Bank has approved a loan of $750 million to South Africa linked to COVID-19, aiming to help protect the poor and support economic recovery from the pandemic,…
Exclusive-Myanmar junta backs Telenor unit sale after buyer M1 pairs with local firm – sources
By Poppy McPherson and Fanny Potkin BANGKOK -Lebanon’s M1 Group will partner with a Myanmar firm to take over Norwegian telco Telenor’s business in the Southeast Asian country after its military junta…
Georgia prosecutor requests special grand jury in Trump election probe
By Rami Ayyub and Alexandra Ulmer -The prosecutor for Georgia’s biggest county on Thursday requested a special grand jury with subpoena power to aid her investigation into then-President Donald Trump’s efforts to…
Fed kicks off debate on issuing its own digital currency with new white paper
By Jonnelle Marte -Creating an official digital version of the U.S. dollar could give Americans more, and speedier, payment options, but it would also present financial stability risks and privacy concerns, the…
Bipartisan U.S. Senate group discusses scaled-back elections bill
By David Morgan WASHINGTON – A bipartisan group of U.S. senators is discussing a scaled-back law focused on safeguarding election results and protecting election officials from harassment following Democrats’ twin defeats on…
Japan and U.S. to start new ‘2 plus 2’ dialogue for economic issues -Kyodo
TOKYO – The United States and Japan will initiate a new “2 plus 2” dialogue that will cover economic and diplomatic issues, Kyodo reported, citing a Japan government official. The agreement is…
Japan’s inflation hovers around 2-year high, BOJ flags price pressure
By Kantaro Komiya and Leika Kihara TOKYO – Japan’s core consumer prices rose 0.5% in December from a year earlier, increasing for a second month in a row at the fastest pace…
U.S. panel probing Jan. 6 attack seeks interview with Ivanka Trump
By Jan Wolfe and Susan Heavey WASHINGTON -The U.S. House of Representatives’ panel investigating the deadly Jan. 6, 2021, attack on the U.S. Capitol on Thursday requested an interview with former U.S.…
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