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…
Italian companies see bleaker economic outlook-central bank survey
MILAN (Reuters) – Italian companies’ views on the prospects for the economy darkened markedly in the third quarter, the Bank of Italy said in its quarterly survey on Tuesday, hit by uncertainty…
Marketmind: ‘Remarkable’ US markets surf crosscurrents
A look at the day ahead in U.S. and global markets from Mike Dolan U.S. stocks have surfed through multiple crosscurrents over the past week – from the blistering spike in Treasury…
Russian rouble pares losses vs dollar in volatile trade
By Alexander Marrow (Reuters) -The Russian rouble dived towards a more than an 18-month low on Tuesday before paring most losses in a volatile session, under pressure from domestic demand for foreign…
China issues legal guidelines to support private business
BEIJING (Reuters) – China’s highest court on Tuesday issued guidelines to improve the legal environment for private business, state media CCTV said, suggesting renewed efforts by policymakers to support the private sector,…
Emeren completes grid connection of solar energy storage project in China
(Reuters) – Solar project developer Emeren Group said on Tuesday it has completed the grid connection of its inaugural solar storage project last month in Ningbo, Zhejiang Province, China. The project has…
IMF cuts Saudi Arabia’s growth forecast to 0.8% for 2023
DUBAI (Reuters) – The International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2023 to 0.8% and estimated growth of 4% next year in its latest World Economic…
US small business sentiment declines moderately -NFIB
By Amina Niasse NEW YORK (Reuters) – U.S. small business sentiment declined slightly again in September on continued concern over inflation and persistent labor shortages, a survey published on Tuesday showed. The…
Chinese EV maker Xpeng says vice president suspended for investigation related to corruption
BEIJING (Reuters) – Chinese electric vehicle maker Xpeng said its vice president Li Feng has been suspended for an investigation related to corruption, according to a company statement on Tuesday. Media reports…
Bank of England warns that some global asset valuations appear stretched
By David Milliken and Huw Jones LONDON (Reuters) -The Bank of England said on Tuesday that valuations for some financial assets may be too high, particularly for U.S. tech stocks and dollar-denominated…
China belt and road stocks fall on Mideast war
SHANGHAI/SINGAPORE (Reuters) – Conflict in the Middle East has cast a fresh cloud over China’s battered stock market, driving down exposed stocks – especially those linked with infrastructure projects in the region…
Amazon, Walmart court early holiday shoppers in US with limited-time deals
By Arriana McLymore NEW YORK (Reuters) – Amazon, Walmart, Target and other large retailers launched U.S. sales on Monday and Tuesday, dangling discounts on narrow selections of merchandise more than six weeks…
Israel shekel sinks to lowest since 2016, default insurances soars
LONDON (Reuters) – Israel’s shekel hit its weakest level since early 2016 and the cost of insuring the country’s sovereign debt against default soared on Tuesday after a bloody weekend assault by…
Bank of England piles pressure on money market funds to bolster liquidity
By Huw Jones and David Milliken LONDON (Reuters) -The Bank of England said on Tuesday that money market funds should hold “significantly” higher amounts of liquid assets to cope with market volatility…
China market hard going for BMW and Mercedes in third quarter
BERLIN (Reuters) -German high-end carmakers Mercedes-Benz and BMW saw their sales in China dip in the third quarter, the two companies said on Tuesday, with Mercedes hit by supply chain issues and…
Country Garden says can’t meet all offshore debt payments, setting stage for revamp
By Scott Murdoch, Clare Jim and Xie Yu HONG KONG (Reuters) -Country Garden warned on Tuesday about its inability to meet offshore debt obligations, potentially joining a growing list of Chinese developers…
Bain Capital delays Virgin Australia listing until next year – source
SYDNEY (Reuters) – Bain Capital has put off its plans for an initial public offering of Virgin Australia airline to next year, a person with knowledge of the matter said on Tuesday.…
IMF lifts Latam, Caribbean 2023 GDP growth estimate to 2.3%
(Reuters) – The International Monetary Fund raised its 2023 output growth estimate for Latin America and the Caribbean to 2.3% from July’s 1.9% due to faster expected growth in Brazil and Mexico,…
UK set to have weakest growth among G7 in 2024, IMF forecasts
LONDON (Reuters) – Britain is set to have the slowest-growing economy among the Group of Seven nations next year – when the country is likely to choose a new government – according…
IMF raises Ukraine’s economic growth outlook to 2% in 2023
KYIV (Reuters) – The International Monetary Fund has revised its forecast for Ukraine’s economic growth this year up to 2%, and expects its gross domestic product to increase by 3.2% in 2024,…
IMF raises India’s FY24 GDP growth forecast to 6.3% – report
MUMBAI (Reuters) -India’s economic growth forecast for the current fiscal year has been raised to 6.3% from 6.1% earlier, the International Monetary Fund said in its October 2023 World Economic Outlook (WEO)…
Daimler Truck premieres new eActros 600 in step towards all-electric shift
BERLIN (Reuters) – Mercedes-Benz Trucks, the European division of commercial vehicle maker Daimler Truck, premiered its battery-electric long-haul truck eActros 600 on Tuesday, with series production planned for the end of 2024.…
IMF lowers Russia 2024 GDP growth forecast to 1.1%
(Reuters) – Russia’s economy will grow by 1.1% in 2024, slower than previously forecast, the International Monetary Fund said, after significant spending and resilient consumption in a stretched labour market support growth…
IMF says US bond sell-off may reflect extra quantities on market
By Andrea Shalal MARRAKECH, Morocco (Reuters) – The International Monetary Fund is carefully watching global bond market developments after a recent U.S. selloff, the fund’s top economist said, adding that a tightening…
Foreign outflows rock Asian equities in September amid rate concerns
By Gaurav Dogra (Reuters) – Asian equities suffered massive foreign outflows in September, hit by worries about interest rates remaining higher for a prolonged period in the United States and a surge…
Malaysia likely to cut subsidies in 2024 budget for fiscal strength
By Danial Azhar KUALA LUMPUR (Reuters) – Malaysia is expected to make subsidy cuts for the well-off and provide cash aid for the needy as part of its budget plan for 2024,…
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