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…
EV maker VinFast to acquire its battery maker sibling
(Reuters) – Electric-vehicle maker VinFast Auto said on Wednesday it would acquire a 99.8% stake in battery maker VinES from its founder Pham Nhat Vuong as it seeks to ramp up its…
Russia’s Putin signals OPEC+ cuts are here to stay
By Vladimir Soldatkin and Olesya Astakhova MOSCOW (Reuters) -Russian President Vladimir Putin said on Wednesday that OPEC+ coordination would continue in order to ensure predictability on the oil market and signalled strongly…
U.S. bank ETFs suffer sharp outflows ahead of results
By Bansari Mayur Kamdar (Reuters) – Exchange-traded funds tracking U.S. banks saw significant outflows since the start of October and ahead of earnings as investors took money off the table fearing elevated…
Global economic losses from extreme weather could hit $5 trln -Lloyd’s
LONDON (Reuters) – Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance…
Hedge funds expected to ramp up returns on higher rates – BNP survey
By Nell Mackenzie LONDON (Reuters) – Investors expect hedge funds to produce higher returns with the prospect of interest rates staying higher for longer, a BNP Paribas investor survey showed on Wednesday.…
Flagging domestic travel casts shadow over US airline earnings
By Rajesh Kumar Singh CHICAGO (Reuters) – A travel boom has produced bumper earnings for major U.S. carriers this year but signs of softening demand on domestic routes have amplified worries that…
Hyundai Motor to make BAIC’s ARCFOX electric cars in Beijing – report
SEOUL (Reuters) – Hyundai Motor has decided to produce Beijing Automotive Group Co’s EV brand ARCFOX cars at its plant in Beijing in a bid for a breakthrough in a major market…
German economy expected to contract 0.4% in 2023 – economy ministry
BERLIN (Reuters) – The German government expects the economy to shrink by 0.4% this year due to persistent inflation, high energy prices and weak international trade, the economy ministry said on Wednesday,…
GSK settles another California lawsuit on heartburn drug Zantac
By Eva Mathews and Maggie Fick (Reuters) – GSK on Wednesday said it agreed to settle another lawsuit in California alleging its discontinued heartburn drug Zantac caused cancer, as the British drugmaker…
IMF says Sri Lanka debt talks ongoing, unaware of specific deals
By Jorgelina do Rosario MARRAKECH (Reuters) -The International Monetary Fund had not been informed about any specific agreements regarding Sri Lankan debt talks, a fund official said on Wednesday, after China announced…
Two key ECB policymakers see possibility that rate hikes may be over
By Balazs Koranyi MARRAKECH (Reuters) -The European Central Bank has made significant progress in getting inflation back down to target, but new shocks could still require the bank to continue a now-paused…
Factbox-Sri Lanka still in debt restructuring talks with creditors
(Reuters) – Sri Lanka, mired in its worst economic crisis in decades, is in debt restructuring talks with a range of bilateral creditors, including China, its largest single creditor. The island nation…
Phil Murphy’s Gas Car Ban is Flawed, NJ Car Dealerships Say
TRENTON, NJ – Earlier this year, New Jersey Governor Phil Murphy introduced a radical plan to ban the sale of gas-powered cars and trucks in the Garden State by 2035. That’s part…
China’s car sales quicken in Sept; exports rise 50%
BEIJING (Reuters) -Car sales in China increased 4.7 percent in September from the same month a year ago, official data showed, boosted by more people buying discounted and new models ahead of…
ECB may have done enough to fight off inflation: de Cos
MARRAKECH (Reuters) – The European Central Bank may have done enough to fight off inflation but needs to keeps its options open in case new shocks throw price growth off its current…
Argentine executives pitch fiscal discipline as election hits home stretch
By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s next government will have to cut spending and stop printing pesos to get the inflation-wrecked economy back on track, executives and other members of…
OECD publishes treaty that would replace national digital taxes
PARIS (Reuters) – The Organisation for Economic Cooperation and Development (OECD) published a multilateral treaty on Wednesday that would replace a hodge-podge of national digital services taxes if ratified by enough countries.…
U.S.’ Yellen, PBOC’s Pan to meet for talks, including on debt
By Andrea Shalal and Leika Kihara MARRAKECH, Morocco (Reuters) – Janet Yellen said on Wednesday she planned to meet Chinese central bank boss Pan Gongsheng this week for talks that will broach…
UK regulator examining Vodafone-Hutchison’s $19 billion mobile merger
LONDON (Reuters) – Britain’s antitrust watchdog is examining whether a $19 billion tie-up between Vodafone’s UK operation and CK Hutchison’s Three UK would substantially lessen competition, it said on Wednesday. The Competition…
US solar company Suniva to restart idled factory thanks to Biden climate law
By Nichola Groom (Reuters) – Suniva, the U.S. solar manufacturer that successfully fought for tariffs on cheap panels made overseas, will restart its Georgia cell factory next year thanks to incentives in…
Marketmind: A window into the Fed’s thinking
(Reuters) – A look at the day ahead in U.S. and global markets by Amanda Cooper, editor, finance and markets breaking news Investors are always eager to get a look at the…
Fed’s ‘golden path’ to lower inflation may have some potholes
By Howard Schneider and Ann Saphir DALLAS (Reuters) – The “golden path” some Federal Reserve officials see leading to lower inflation without high unemployment may, like the pot of gold at the…
Ford, Hyundai turn to Italian casting machine maker IDRA
By Giulio Piovaccari TRAVAGLIATO, Italy (Reuters) – Idra, an Italian aluminium casting machine maker and Tesla supplier, has added Ford, Hyundai and a European company to its customer base as more carmakers…
Inured to edgy geopolitics, markets deflect risk :Mike Dolan
By Mike Dolan LONDON (Reuters) -The modest reaction of global markets to the shock of another Middle East war says more about an investment world already braced for more turbulent times than…
Exclusive-India regulator probing ties between Adani Group and Gulf Asia fund, say sources
By Jayshree P Upadhyay and Krishn Kaushik (Reuters) – India’s market regulator is investigating the relationship between the Adani Group and a fund incorporated in the British Virgin Islands to see if…
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