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…
Brazil auto exports to plunge this year as Argentina crisis hits hard
By Alberto Alerigi SAO PAULO (Reuters) – Brazilian auto exports are set to plunge by double digits in 2023 when compared with the previous year, automaker association Anfavea said on Friday, as…
Fed to release November meeting minutes a day earlier than usual
(Reuters) – The Federal Reserve will release the minutes of its upcoming Oct. 31-Nov. 1 meeting on Tuesday Nov. 21, instead of the Wednesday of that week as would be its usual…
Microsoft looks to close Activision deal next week – The Verge
(Reuters) -Microsoft is aiming to close its $69 billion deal for “Call of Duty” publisher Activision Blizzard on Oct. 13 if it gets approval from Britain’s antitrust regulator, the Verge reported on…
Canada jobs, wage gains blow away expectations, up chances for rate hike
By Ismail Shakil, Steve Scherer and Nivedita Balu OTTAWA (Reuters) -Canada’s economy more than tripled expectations by adding 63,800 jobs in September and wages continued to soar, data showed on Friday, upping…
Developing countries facing a debt crunch
LONDON (Reuters) -High interest rates, growing investor risk aversion and borrowing that ballooned in recent years have left a range of developing economies mired in debt crises. Helping them claw out of…
Puma CEO expects double-digit growth in China this year -report
BERLIN (Reuters) – Puma Chief Executive Arne Freundt said that the sportswear company expects to return to double-digit growth in China this year, according to an interview released by the Euro am…
ECB’s Knot says Italy is paying price for higher deficit
STRBSKE PLESO, Slovakia (Reuters) – Italy is paying the price for raising its deficit targets via higher borrowing costs, European Central Bank policymaker Klaas Knot said on Friday, telling governments to tighten…
Sam Bankman-Fried’s trial: five key moments from the first week
By Luc Cohen NEW YORK (Reuters) – Sam Bankman-Fried’s fraud trial kicked off this week, nearly a year after the FTX cryptocurrency exchange he founded declared bankruptcy in a collapse that shocked…
Bond rout won’t end Fed balance sheet cuts, but endgame bubbling into view
By Michael S. Derby NEW YORK (Reuters) – The bond market tumult that has sent real-world borrowing costs surging is unlikely to deter the Federal Reserve from pressing onward with shedding nearly…
Russia lifts ban on most diesel exports
By Vladimir Soldatkin MOSCOW (Reuters) – Russia’s government said on Friday it had lifted a ban on pipeline diesel exports via ports, removing the bulk of restrictions installed on Sept. 21. The…
Hipgnosis shareholders preparing to block music rights deal – FT
(Reuters) – Major shareholders in music investor Hipgnosis Songs Fund are preparing to block the sale of a rights portfolio worth $440 million to a private fund owned by Blackstone, the Financial…
Tesla cuts US prices of Model 3, Y in push to meet delivery goal
By Urvi Manoj Dugar (Reuters) -Tesla has cut U.S. prices of its Model 3 compact sedan and the Model Y SUV, ratcheting up its price war just days after the third-quarter deliveries…
Further Fed rate hike comes into view as job growth soars
(Reuters) -Traders on Friday added to bets that the Federal Reserve will raise interest rates before the end of the year, and keep them high for longer next year, after a U.S.…
Instant view: US job growth smashes expectations, raising prospects for rate hikes
(Reuters) – U.S. job growth surged in September, suggesting that the labor market remains strong enough for the Federal Reserve to raise interest rates this year, though wage growth is moderating. Nonfarm…
China’s Golden Week holiday spending per capita surpasses 2019 levels
BEIJING (Reuters) – Chinese holidaymakers’ spending surged during this year’s eight-day Golden Week holiday, beating pre-pandemic levels and potentially boosting confidence in the country’s economic recovery. In China, the Mid-Autumn festival is…
US bond funds suffer outflows on rate worries; money market funds gain traction
(Reuters) – U.S. bond funds saw significant outflows in the week ending Oct. 4, driven by concerns about prolonged elevated interest rates, while money market funds garnered substantial inflows as investors recalibrated…
Bonds ‘in greatest bear market of all time’ – BofA
By Samuel Indyk LONDON (Reuters) -The rout in the fixed-income market is causing the “greatest bond bear market of all time”, Bank of America Global Research said in a note on Friday,…
Chevron Australia LNG workers back strike threat in second meeting, no talks
By Lewis Jackson (Reuters) -Workers at Chevron’s two liquefied natural gas (LNG) facilities in Western Australia voted to restart strikes on Friday, endorsing a similar move by colleagues at a meeting less…
Analysis-Fall of the zombies? Why corporate failures could surge in 2024
By Sinead Cruise and Iain Withers LONDON (Reuters) – Debt-laden companies across Europe, Middle East and Africa face a $500 billion refinancing scramble in the first half of 2024, a challenge that…
Australia billionaire raises Liontown stake, could block Albemarle’s$4.3 billion bid
By Scott Murdoch and Lewis Jackson SYDNEY (Reuters) – Australian billionaire Gina Rinehart raised her stake again in lithium producer Liontown Resources, giving her enough leverage to possibly block U.S. miner Albemarle…
ChatGPT-owner OpenAI is exploring making its own AI chips -sources
By Anna Tong, Max A. Cherney, Christopher Bing and Stephen Nellis SAN FRANCISCO/WASHINGTON (Reuters) -OpenAI, the company behind ChatGPT, is exploring making its own artificial intelligence chips and has gone as far…
Disney in talks with Adani, Sun TV to sell India assets -Bloomberg News
BENGALURU (Reuters) -Disney has held talks with Indian billionaires Gautam Adani and Sun TV Network owner Kalanithi Maran as well private equity firms to sell its streaming and television business in the…
Argentina Inc doesn’t want dollarization, business leaders say
By Jorge Otaola MAR DEL PLATA, Argentina (Reuters) – Corporate Argentina is strongly against full dollarization of the economy, one of the key proposals of presidential election frontrunner Javier Milei, according to…
Global bond funds post massive weekly outflows on rate hike concerns
(Reuters) – Global bond funds faced huge outflows in the week to October 4, driven by concerns over sustained high interest rates because of elevated inflation levels and a robust U.S. economy.…
Column-‘Risk-free risk’ re-emerges as bonds minesweep 5%-plus – Mike Dolan
By Mike Dolan LONDON (Reuters) – To say investors were unprepared for 5% U.S. Treasury yields is perhaps the market understatement of the year – but they are now frantically feeling around…
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