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…
Stocks, bonds in China’s Gemdale dive on property crisis fears
By Xie Yu and Li Gu HONG KONG/SHANGHAI (Reuters) – Stocks and bonds of Chinese property developer Gemdale plunged on Tuesday after the resignation of its chairman, as investors took no chances…
BNY Mellon beats profit estimates on boost from higher interest rates
(Reuters) -Bank of New York Mellon Corp beat Wall Street estimates for third-quarter profit on Tuesday, as rate hikes by the U.S. Federal Reserve bolstered the lender’s income from loans. Shares of…
Exclusive-China tells banks to roll over local government debts as risks mount – sources
BEIJING (Reuters) -China has told state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with knowledge of the matter said, as part of…
German investor morale brightens in October – ZEW
By Maria Martinez BERLIN (Reuters) -German investor morale improved more than expected in October, the ZEW economic research institute said on Tuesday, as market experts forecast a further decline in inflation while…
Basel proposes crypto disclosures by banks from January 2025
LONDON (Reuters) – Global banking regulators on Tuesday proposed a standardised format for major banks to disclose their holdings of cryptoassets from January 2025 to support “market discipline” by giving a complete…
KKR offered to take on extra costs, staff to sweeten TIM bid-sources
By Elvira Pollina MILAN (Reuters) – U.S. fund KKR has strived to structure its offer for the fixed line of Telecom Italia (TIM) in a way that would help the phone group…
Planemakers bet on steady demand for business jets, but Wall Street wary
By Mehr Bedi (Reuters) – Planemakers are betting on steady demand for business jets as the world’s largest corporate aircraft show kicks off on Tuesday, but analysts are turning cautious about the…
U.S. Treasury bond ETFs draw net inflows this year despite recent market rout
By Suzanne McGee (Reuters) – Investors have poured money into exchange traded funds (ETFs) focused on the US bond market this year, despite a historic sell-off in global bonds and uncertainty over…
Marketmind: Banks, Biden visit buoy markets
A look at the day ahead in U.S. and global markets from Mike Dolan Another eye-catching bounceback in U.S. stocks on Monday was just about sustained overnight ahead of another slew of…
Virgin Australia’s executive leading IPO plans resigns
By Poonam Behura (Reuters) – Bain Capital-owned Virgin Australia’s Chief Development Officer David Marr, who was assigned to lead the airline’s plans for an eventual initial public offering (IPO), has stepped down…
Bank of England’s Dhingra sees weaker wage growth, lower inflation
By David Milliken LONDON (Reuters) – Recent labour market data shows a softening economy which is likely to lead to slower wage growth and reduced inflation pressure, Bank of England policymaker Swati…
Goldman Sachs lifts Europe Inc’s 2023 profit growth forecast to 3%
(Reuters) – Goldman Sachs said on Tuesday it expects earnings for companies in the pan-European STOXX 600 index to grow 3% in 2023, compared with its prior projection of no growth, on…
Japan’s largest labour union to seek wage hike over 5% next year – NHK
TOKYO (Reuters) -Japan’s largest labour organisation Rengo is planning to ask for a total pay hike of more than 5%, including a 3% increase in base salaries, at negotiations in spring next…
Ex-Odey portfolio manager Hanbury aims short bet on private equity – letter
By Nell Mackenzie LONDON (Reuters) – Former Odey Asset Management (OAM) portfolio manager James Hanbury has taken short positions against private equity, which will likely struggle to finance and refinance deals as…
Toyota extends partial production halt at two Japan plants to Wednesday
By Daniel Leussink TOKYO (Reuters) -Toyota Motor, the world’s biggest automaker by sales, will extend until Wednesday a partial production halt at two domestic assembly plants due to an accident at a…
U.S. lawmaker seeks answers from Meta, X, Google, TikTok over Israel-Hamas false content
By Zeba Siddiqui SAN FRANCISCO (Reuters) – U.S. Senator Michael Bennet on Tuesday sought information on how tech giants Meta, X, TikTok and Google were trying to stop the spread of false…
Thailand still bullish on Chinese investments as new PM heads to Beijing
By Devjyot Ghoshal and Orathai Sriring BANGKOK (Reuters) -Chinese investment in Thailand has picked up pace this year despite an economic slowdown in the Asian giant, a welcome boost for the country’s…
UK regular pay growth slows for first time since January
By David Milliken LONDON (Reuters) – Growth in British workers’ regular pay – which is being watched closely by the Bank of England – slowed from a previous record high and job…
Hedge funds short food, beverage and tobacco stocks amid soaring bond yields -Goldman Sachs
By Nell Mackenzie LONDON (Reuters) – Global hedge funds last week sold food, beverage and tobacco company stocks at the fastest pace in 11 weeks, a Goldman Sachs note said, as these…
Explainer-Country Garden: What happens next?
By Clare Jim HONG KONG (Reuters) – Country Garden’s entire offshore debt will be deemed to be in default if China’s largest private property developer fails to make a $15 million coupon…
Japan ruling LDP offers proposals for Kishida’s economic package, but no income tax cuts
TOKYO (Reuters) – Lawmakers from Japan’s ruling Liberal Democratic Party (LDP) gave a list of proposals to Prime Minister Fumio Kishida’s cabinet for possible inclusion in an economic package to help people…
Sam Bankman-Fried directed political donations despite $13 billion ‘hole’, ex-colleague testified
By Luc Cohen NEW YORK -Sam Bankman-Fried directed that money from his Alameda Research hedge fund be used to make political donations after he learned the fund owed $13 billion to customers…
Netflix may hike prices after success of password-sharing crackdown
By Samrhitha A (Reuters) -Netflix’s crackdown on password-sharing likely boosted subscribers by about 6 million in the third quarter and the streaming pioneer is expected to set the stage for price increases…
China’s Baidu unveils new Ernie AI version to rival GPT-4
By Yelin Mo and Eduardo Baptista BEIJING (Reuters) -Chinese technology giant Baidu on Tuesday unveiled the newest version of its generative artificial intelligence (AI) model, Ernie 4.0, saying its capabilities were on…
As oil majors cast shale nets, Texas oilman Sheffield made Pioneer the prized catch
By Arathy Somasekhar HOUSTON (Reuters) -Four years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top U.S. shale basin and plotted to make his then-$24 billion…
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