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…
LVMH tumbles as French luxury group’s sales growth slows
PARIS (Reuters) – LVMH’s shares slumped on Wednesday to their lowest level since December after the French luxury group reported slower third-quarter sales growth, providing evidence that inflation and economic turmoil are…
Sam Bankman-Fried directed fraud on FTX customers, Caroline Ellison tells jury
By Luc Cohen and Jody Godoy NEW YORK (Reuters) -Caroline Ellison, the former chief executive officer of Sam Bankman-Fried’s hedge fund, testified on Tuesday that the former crypto mogul directed her and…
Yellen sticks to view U.S. economy headed for soft landing
By Andrea Shalal MARRAKECH, Morocco (Reuters) -U.S. Treasury Secretary Janet Yellen said on Wednesday she continued to expect the U.S. economy would have a soft landing, even though the conflict between Israel…
South Korea central bank chief sees inflation just above 3% by year-end
By Cynthia Kim SEOUL (Reuters) – South Korea’s central bank governor said on Wednesday he sees headline inflation slowing to just above 3% by the end of this year as price pressures…
Euro zone consumers see inflation slightly above ECB target for years
FRANKFURT (Reuters) -Euro zone households see inflation staying slightly above the European Central Bank’s 2% target for another three years, an ECB survey showed, as rate-setters struggle to convince the public that…
Fed’s Bowman says US policy rate may need to rise further
(Reuters) – Federal Reserve Governor Michelle Bowman on Wednesday repeated her view that despite “some progress” on inflation, the U.S. central bank will probably need to tighten monetary policy further to restore…
Mercuria sees oil likely hitting $100 on Middle East turmoil
By Yousef Saba FUJAIRAH (Reuters) – The deputy CEO of commodity trader Mercuria, Magid Shenouda, said on Wednesday that oil could go to $100 a barrel if the situation in the Middle…
Exclusive-Indian govt panel wants car ratings tied to improved connectivity -draft
By Munsif Vengattil and Aditi Shah NEW DELHI (Reuters) – An Indian government panel has recommended that automakers who step up connectivity features in cars to communicate with other vehicles and external…
Samsung Q3 profit beats expectations, raising hopes of chip recovery
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics on Wednesday said its preliminary third-quarter profit dropped by a smaller-than-expected 78%, as the battered memory chip market shows early signs of…
Yellen says oil price cap has ‘significantly’ cut Russia’s revenues
By Andrea Shalal MARRAKECH, Morocco (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said a G7-led price cap on Russian oil had sharply reduced Russian revenues over the past 10 months,…
GM, Canadian union reach tentative agreement, ending strike
By Arlyn McAdorey and David Shepardson OSHAWA, Ontario (Reuters) -General Motors and Canadian union Unifor reached a tentative agreement on Tuesday just hours after 4,300 workers went on strike at three GM…
World Bank’s Banga: Interest rates to stay higher for longer
MARRAKECH, Morocco (Reuters) – World Bank President Ajay Banga said on Wednesday interest rates will likely stay higher for longer and complicate investments for companies across the globe. He also told a…
China’s trade slump likely eased further in September, adds to stabilisation signs: Reuters poll
By Joe Cash BEIJING (Reuters) – China’s exports likely contracted at a slower pace for a second consecutive month in September, a Reuters poll showed on Wednesday, adding to a string of…
Union at Kia Corp suspends strike action to resume talks with company
By Heekyong Yang SEOUL (Reuters) -Kia Corp’s union in South Korea said it would suspend for now a partial strike announced earlier on Wednesday to pursue more talks with the company. The…
UK vacancies fall but jobs market slowdown may be ending-REC
LONDON (Reuters) – British employers cut their job vacancies for the first time in more than two-and-a-half years in September and reduced their hiring again, a recruiters’ industry body said on Wednesday,…
Australian billionaire Gina Rinehart accumulates 19.9% stake in Albemarle target Liontown
By Scott Murdoch SYDNEY (Reuters) – Australian billionaire Gina Rinehart has taken a 19.9% stake in lithium miner Liontown Resources, her company Hancock Prospecting said on Wednesday, potentially hindering a takeover bid…
LVMH sales growth loses fizz as post-pandemic splurge wanes
By Mimosa Spencer PARIS (Reuters) – Luxury goods bellwether LVMH reported a 9% rise in third quarter revenue on Tuesday, marking slower growth as a strong wave of post-pandemic spending eases due…
Argentina retail prices to maintain double-digit rise in September – Reuters poll
BUENOS AIRES (Reuters) – Argentina’s monthly inflation is forecast to have hit 11.5% in September, according to the median of a Reuters poll of 20 analysts, remaining in the double digits though…
Uniqlo owner set for 26% profit surge on China rebound, yen slide
By Rocky Swift TOKYO (Reuters) – The Japanese operator of global clothing chain Uniqlo is expected to blow past last year’s record profit when it reports results on Thursday, benefiting from a…
Malaysia’s DRB Hicom signs agreement with Geely on domestic auto hub
KUALA LUMPUR (Reuters) – Malaysian automaker DRB Hicom said on Wednesday it has signed an agreement with Chinese car maker Zhejiang Geely Holding Group Co Ltd for the development of an automotive…
Analysis-Metro rescue puts Britain’s banking underdogs under spotlight
By Iain Withers, Pablo Mayo Cerqueiro and Nelson Bocanegra LONDON/BOGOTA (Reuters) -When Vernon Hill launched Metro Bank in 2010, his Yorkshire terrier tucked under one arm, he vowed the upstart lender would…
Singapore’s Q3 GDP likely to show persistent weakness
By Xinghui Kok SINGAPORE (Reuters) – Singapore’s economic growth in the third quarter is expected to remain sluggish as the central bank seeks to balance the task of containing inflation and shoring…
Chevron Australia, LNG unions extend pay deal talks to Thursday
By Lewis Jackson SYDNEY (Reuters) -Chevron and unions representing workers at its two liquefied natural gas (LNG) facilities in Australia made progress in talks over pay and conditions on Wednesday and would…
Analysis-China saves billions of dollars from record sanctioned oil imports
By Chen Aizhu and Muyu Xu SINGAPORE (Reuters) – China has reaped savings this year of nearly $10 billion through record purchases of oil from countries under Western sanctions, according to Reuters’…
Marketmind: Fed’s dovish shift welcomed; inflation’s next
A look at the day ahead in European and global markets from Tom Westbrook Stocks are up, U.S. interest rate expectations are getting tweaked lower and yields are in a downdraft after…
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