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…
OPEC sticks to 2024 oil demand growth forecast
By Alex Lawler LONDON (Reuters) – OPEC on Thursday stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy…
In Argentina’s impoverished barrios, Peronists are losing their grip
By Anna-Catherine Brigida BUENOS AIRES (Reuters) – Simona Alegre, a 65-year-old widow, used to earn enough from her government pension to feed her six grandkids. But now Argentina’s worst economic crisis in…
IMF’s Georgieva lauds Japan’s contribution to low-income trust, sees more coming
By Andrea Shalal MARRAKECH, Morocco (Reuters) – Japan made a “very impressive pledge” to an International Monetary Fund account that provides subsidies to enable zero-interest rate loans to the poorest countries, IMF…
South Africa’s economy expected to improve into 2024 – Reuters poll
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s economic growth is expected to pick up slightly next year due to better energy supply, a Reuters poll found, while slowing inflation might give…
Israel-Hamas conflict is ‘new cloud’ darkening economic outlook -IMF chief
By Andrea Shalal MARRAKECH, Morocco (Reuters) -International Monetary Fund managing director Kristalina Georgieva said on Thursday the “heartbreaking” Israel-Hamas conflict threatened to darken an already murky global economic outlook. “We are closely…
Japan central banker sees no pressing need to alter yield control policy
By Tetsushi Kajimoto and Takahiko Wada TOKYO (Reuters) – There is no pressing need for the Bank of Japan to alter its yield control settings as it has room left for manouevre…
Asset managers boost ETF assets via active fund launches, conversions
By Suzanne McGee (Reuters) – Large, established asset managers that have been slow to cash in on investor demand for exchange-traded funds are now trying to grab a slice of the market…
BoE’s Pill says question of more rate hikes is ‘finely balanced’
By Balazs Koranyi MARRAKECH, Morocco (Reuters) – Bank of England Chief Economist Huw Pill said the question of whether the British central bank had done enough to see off high inflation was…
Kia Corp unveils three small to mid-sized EVs to widen its appeal
By Heekyong Yang SEOUL (Reuters) -Kia Corp on Thursday unveiled three new small-to-medium sized electric vehicles (EV) to try to attract a wider range of customers and accelerate its electrification drive. The…
Wells Fargo rolls out financial planning tool to almost 70 million customers
By Nupur Anand NEW YORK (Reuters) – Wells Fargo will expand access to a financial planning tool to its nearly 70 million customers after initially offering it to wealth clients earlier this…
Marketmind: Fed’s data-driven approach set for inflation test
A look at the day ahead in U.S. and global markets by Samuel Indyk The minutes from the Federal Reserve’s September policy meeting on Wednesday confirmed the central bank is watching the…
Tearful Caroline Ellison calls FTX collapse a ‘relief’ at Sam Bankman-Fried trial
By Jody Godoy and Luc Cohen NEW YORK (Reuters) -Caroline Ellison, Sam Bankman-Fried’s confidant who has pleaded guilty to helping him take billions in FTX customer assets, testified at his fraud trial…
Middle East growth to recover in 2024 but structural issues to weigh – IMF
By Rachna Uppal DUBAI (Reuters) – Economic growth in the Middle East and North Africa region is expected to accelerate in 2024 after a slowdown this year but structural challenges will weigh…
ECB can aim for soft landing for economy – Villeroy
MARRAKECH, Morocco (Reuters) -The European Central Bank should aim to engineer a “soft landing” for the euro zone’s economy, as long as it is confident that inflation will keep falling towards its…
Uniqlo owner Fast Retailing sees 18% rise in annual profit, plans more stores in China
By Rocky Swift TOKYO (Reuters) -Fast Retailing Co, owner of clothing brand Uniqlo, forecast 18% growth in annual profit on Thursday, as it plans to expand in key markets including China, anticipating…
Taiwan says awaiting US announcement on China chip waiver extension
By Ben Blanchard TAIPEI (Reuters) – Taiwan was waiting for a decision by the U.S. government on whether Taiwanese chipmakers will be allowed a waiver extension to supply U.S. chip equipment to…
Malaysia denies Goldman Sachs’ allegations in 1MDB arbitration suit
By Rozanna Latiff KUALA LUMPUR (Reuters) – The Malaysian government on Thursday denied allegations by Goldman Sachs that it had breached a settlement deal over the U.S. bank’s role in the multi-billion…
Sluggish UK economy stages only partial bounceback in August
By William Schomberg and Andy Bruce LONDON (Reuters) -Britain’s economy partially recovered in August after a sharp drop in July but the bigger picture remained one of only sluggish growth after last…
PwC Australia chief faces senate fury over tax leak scandal
By Lewis Jackson SYDNEY (Reuters) – PwC Australia’s chief executive apologised profusely to senators on Thursday for the leak of confidential tax documents, as he was grilled about the involvement of overseas…
Toyota, Idemitsu tie up to mass-produce all-solid-state batteries
By Yuka Obayashi TOKYO (Reuters) -Toyota and oil refiner Idemitsu Kosan announced a tie up on Thursday to develop and mass produce all-solid-state batteries, in another example of new partnerships being forged…
Givaudan organic sales rise on higher prices, but currency effects weigh
By Jagoda Darlak and Matteo Allievi (Reuters) -Swiss fragrance and flavour maker Givaudan beat third-quarter organic sales expectations on Thursday, aided by price increases and strong performance in its fragrance business. The…
Ericsson shares volatile after results, $2.9 billion charge
(Reuters) -Ericsson shares were volatile on Thursday, defying indications for a sharp fall after the Swedish telecom gear maker overnight announced a $2.9-billion impairment related to its acquisition of cloud communication firm…
Venezuela bondholders file claim to New York court amid tolling agreement
LONDON (Reuters) – Holders of defaulted debt issued by Venezuela and its state oil company said they made two filings in New York on Wednesday to validate an August agreement designed to…
Exclusive-OpenAI plans major updates to lure developers with lower costs -sources
By Krystal Hu and Anna Tong (Reuters) – OpenAI plans to introduce major updates for developers next month to make it cheaper and faster to build software applications based on its artificial…
US Space Force pauses use of AI tools like ChatGPT over data security risks
WASHINGTON (Reuters) – The U.S. Space Force has paused the use of web-based generative artificial intelligence tools like ChatGPT for its workforce over data security concerns, according to a memo seen by…
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