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…
Exclusive-Ratcliffe would pay more than $1.5 billion for 25% Manchester United stake-source
By Anirban Sen (Reuters) -Ineos Chair Jim Ratcliffe would pay over $1.5 billion for a 25% stake in Manchester United Plc were his bid for the iconic soccer club to be accepted…
Qatar’s Sheikh Jassim refuses to raise $6 billion Manchester United bid, sources say
(This Oct. 14 story has been corrected to fix the word ‘Sheikh’ in the headline) By Anirban Sen and Mrinmay Dey (Reuters) – Qatar’s Sheikh Jassim bin Hamad al Thani has informed…
Backlog at Israeli ports grows as country steps up shipping supplies
By Jonathan Saul and Ari Rabinovitch JERUSALEM (Reuters) -The backlog of ships is growing at Israeli ports while operations continue at most terminals amid preparations by the military to launch a ground…
South Korea to fine two Hong Kong banks for naked short-selling
SEOUL (Reuters) – South Korea’s stock market watchdog said on Sunday it found two Hong Kong-based investment banks had engaged in naked short-selling, which would likely result in record fines. The two…
UAW says had to escalate action on Ford
(Reuters) -The United Auto Workers said on Saturday they had to escalate action against Ford as they expected a revised offer from the automaker but were given the same offer as two…
IMF closes Morocco meetings without consensus on funding terms, conflict language
By David Lawder and Andrea Shalal MARRAKECH, Morocco (Reuters) -International Monetary Fund countries on Saturday failed to agree on a U.S.-backed plan to boost IMF funding without giving more shares to China…
IMF steering committee calls for new funds, share plan by June 2025
MARRAKECH, Morocco (Reuters) – International Monetary Fund members on Saturday pledged to complete a review of quota funding by Dec. 15, voicing support for an increase that at least maintains the IMF’s…
Yellen, UK’s Hunt discussed ‘joint actions to deny Russia revenue’ -US Treasury Dept
(Reuters) – U.S. Treasury Secretary Janet Yellen met with U.K Chancellor of the Exchequer Jeremy Hunt on the sidelines of the annual meetings of the International Monetary Fund and World Bank in…
Colombia eyes two rate cuts before year-end, finance minister says
By Jorgelina do Rosario MARRAKECH (Reuters) -Colombian Finance Minister Ricardo Bonilla said on Saturday his ministry was working with the central bank towards cutting its benchmark interest rate from 13.25% to 13%…
IMF sees recent yen falls as reflecting fundamentals
By Leika Kihara MARRAKECH, Morocco (Reuters) -The yen’s recent declines are driven by fundamentals and do not meet any of the considerations that would call for authorities to intervene in the currency…
Euro zone labour market shows no sign of weakening: Lagarde
MARRAKECH (Reuters) – The euro zone labour market shows no sign of softening, despite a near recessionary environment and a record string of interest rate hikes, European Central Bank (ECB) President Christine…
Suriname to continue debt talks with China in early November – Foreign Minister
By Jorgelina do Rosario, Rodrigo Campos and Ank Kuipers MARRAKECH, Morocco (Reuters) -Suriname received a counter to its proposal to China regarding bilateral debt negotiations, Suriname’s Foreign Affairs Minister said on Saturday,…
IMF has reached goal to add $3 billion to trust fund for poorest countries-Georgieva
MARRAKECH, Morocco (Reuters) – The International Monetary Fund has met its fundraising target to increase concessional trust fund resources for the world’s poorest countries by $3 billion, IMF Managing Director Kristalina Georgieva…
Ferrari to accept crypto as payment for its cars in the US
By Giulio Piovaccari MILAN (Reuters) – Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from…
Singapore hopes for substantial IPEF progress by APEC
WASHINGTON (Reuters) – Singapore’s deputy prime minister said on Friday he hopes for substantial progress in the U.S.-led Indo-Pacific Economic Framework for Prosperity (IPEF) discussions in time for next month’s Asia Pacific…
The Flavors of Brotherly Love: Foods That Taste Better in Philadelphia
If you’re a food enthusiast, Philadelphia should be a city high up on your culinary bucket list. Though famous for its cheesesteaks and soft pretzels, the City of Brotherly Love has a…
Investors zero in on health of consumer with retail sales, earnings
By Lewis Krauskopf NEW YORK (Reuters) – Investors in the coming week will get a look at the state of U.S. consumers – whose spending drives around two-thirds of the economy –…
Stellantis, Ford furlough another 1,250 workers because of UAW strike
By David Shepardson (Reuters) – Chrysler-parent Stellantis and Ford Motor said on Friday they will temporarily lay off 1,250 employees due to the impact of the United Auto Workers strike. Stellantis said…
Hapag Lloyd expects three tough years for shipping industry -Welt am Sonntag
BERLIN (Reuters) – The head of German shipping firm Hapag Lloyd, Rolf Habben Jansen, expects the next three years to be difficult because demand for shipping services is growing more slowly than…
S&P 500, Nasdaq fall with data, geopolitics offsets strong results
By Sinéad Carew, Shashwat Chauhan and Ankika Biswas (Reuters) – The S&P 500 and the Nasdaq closed lower on Friday as deteriorating consumer sentiment data and the Middle East conflict soured investors…
Pfizer slashes revenue forecast on lower COVID sales, will cut costs
By Michael Erman (Reuters) -Pfizer on Friday slashed its full-year revenue forecast by 13% and said it will cut $3.5 billion worth of jobs and expenses due to lower-than-expected sales of its…
US banks, tech firms offer support for Israel victims, announce aid
By Lananh Nguyen and Aditya Soni (Reuters) -As big U.S. corporations kicked off corporate earnings season this week, executives addressed the Israel-Hamas conflict and some companies launched fundraising efforts. “I just want…
Musk’s X illegally fired worker challenging office return -US labor board
(Reuters) -Elon Musk’s X illegally fired an employee in retaliation for her internet posts challenging its return-to-office policy, the U.S. labor board alleged on Friday. In the complaint, a regional director of…
US SEC does not plan to appeal court decision on Grayscale bitcoin ETF -source
By Chris Prentice and Hannah Lang NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) will not appeal a recent court ruling that found it was wrong to reject an application…
Exclusive-Apollo seeking to join airline SAS investor consortium -source
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – U.S. private equity firm Apollo Global Management is seeking to join the consortium that Scandinavian airline SAS last week picked to take it through bankruptcy proceedings,…
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