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…
Barclays begins culling 3% of its dealmakers-sources
By Milana Vinn and Anirban Sen NEW YORK (Reuters) – Barclays Plc initiated layoffs this week targeting 3% of its global investment banking workforce, people familiar with the matter said, as it…
Ukraine’s economy set to continue to grow next year, deputy head of IMF mission
KYIV (Reuters) – Ukraine’s economy is adapting well to the wartime environment following Russia’s invasion and growth will continue next year, the deputy head of an International Monetary Fund mission said on…
Google to combine generative AI chatbot with virtual assistant
By Max A. Cherney (Reuters) – Google on Wednesday announced plans to add generative artificial intelligence (AI) capabilities to its virtual assistant, and a company executive told Reuters the AI would allow…
US service sector slows modestly in September -ISM survey
WASHINGTON (Reuters) – The U.S. services sector slowed in September as new orders fell to a nine-month low, but the pace remained consistent with expectations for solid economic growth in the third…
Ford makes new offer in US labor dispute, GM furloughs more workers
By David Shepardson (Reuters) -Ford Motor said on Tuesday it had made a new comprehensive contract offer in an effort to resolve a 19-day old targeted strike by the United Auto Workers…
Explainer-Sam Bankman-Fried’s fraud trial – who are the key names?
By Luc Cohen NEW YORK (Reuters) – Sam Bankman-Fried’s trial places the former billionaire in a Manhattan courtroom alongside prosecutors steeped in financial crimes and political corruption cases, a veteran judge, and…
Ford’s third-quarter US auto sales rise on pickup, crossover SUV demand
(Reuters) – Ford Motor on Wednesday posted a near 8% rise in U.S. auto sales for the third-quarter, driven by continued demand for crossover SUVs and pickup trucks. The automaker notched quarterly…
Sub-Saharan Africa’s growth dragged down by continent’s heavyweights -World Bank
By Joe Bavier JOHANNESBURG (Reuters) – Sub-Saharan Africa’s economic growth is expected to slow this year, dragged down by slumps in heavyweights South Africa, Nigeria and Angola, the World Bank said on…
Eli Lilly appoints new obesity unit head ahead of key Mounjaro decision
(Reuters) -Eli Lilly and Co on Wednesday appointed a new chief for its diabetes and obesity unit in a string of leadership changes ahead of a key regulatory decision on the use…
SAS slides 95% as Scandinavian airline’s shareholders wiped out
By Louise Rasmussen COPENHAGEN (Reuters) – SAS shares slumped by as much as 95% on Wednesday after the airline announced a financial restructuring on Tuesday to prevent bankruptcy, bringing on board big…
Gaza unrest sends message about economic misery under Israeli blockade
By Nidal al-Mughrabi GAZA (Reuters) – Weeks of violent protests by young men in Gaza have sent a message about the dire financial squeeze in the Israeli-blockaded enclave, economists and even some…
ECB’s Centeno says rate cycle likely completed, inflation retreating
LISBON (Reuters) -The cycle of interest rate hikes by the European Central Bank has likely come to an end as inflation across the euro zone is retreating faster then it rose, ECB…
Seattle-based startup makes ‘beanless coffee’ to help combat deforestation
By Maytaal Angel LONDON (Reuters) – A Seattle-based startup backed by some of the investors behind Beyond Meat is launching the world’s first beanless coffee this week as it bids to slash…
The Big Three Offer Over 1,000 Locations for Pumpkin Spice Coffee in New Jersey
TRENTON, NJ – As autumn breezes sweep through New Jersey, the iconic flavors of the season, particularly pumpkin spice, beckon the residents of the Garden State. With coffee giants like Starbucks, Wawa,…
Bumpy September for auto ETFs as UAW strike, higher rates weigh
By Bansari Mayur Kamdar (Reuters) – Exchange-traded funds tracking automakers saw net outflows last month on worries over the United Auto Workers’ (UAW) strike against the “Detroit Three” and higher interest rates.…
Japan keeps markets guessing on yen intervention, warns against sharp falls
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese authorities refrained on Wednesday from disclosing whether they had stepped into the market to prop up the yen and stressed their resolve to…
UBS pays bumper rates on deposits to repair Credit Suisse outflows -sources
By Noele Illien and Stefania Spezzati ZURICH (Reuters) -UBS is trying to attract customers with above-market rates on deposits, according to people familiar with the bank’s activities, as it seeks to boost…
Sri Lanka aims to streamline tax structure, boost collections
By Uditha Jayasinghe COLOMBO (Reuters) -Crisis-hit Sri Lanka will focus on improving tax collection to reduce budget deficits as it streamlines the structure of the tax system, the treasury secretary said on…
BOJ data suggests there was no forex intervention on Tuesday
TOKYO (Reuters) -The Bank of Japan’s money market data showed on Wednesday that Japan likely did not intervene in the currency market a day earlier, as the current account balance was projected…
Marketmind: Bond steamroller flattens all
A look at the day ahead in U.S. and global markets from Mike Dolan The eye-watering surge in long-term U.S. government borrowing costs continues to pummel world markets everywhere as investors fear…
U.N. body calls for countries to spur growth by reducing global inequality
GENEVA (Reuters) – The United Nations trade body called on Wednesday for global growth to be revived by reducing inequalities between countries and for top central banks to play a bigger role…
As US election looms, investors fear for fiscal peace :Mike Dolan
By Mike Dolan LONDON (Reuters) -Thirteen months is often too distant an horizon for financial markets to focus on, but uncertainties surrounding 2024’s U.S. Presidential election are becoming difficult to screen out.…
Ukraine’s central bank to improve 2023 inflation, GDP forecasts – deputy governor
KYIV (Reuters) -Ukraine’s central bank will improve its forecasts for inflation and gross domestic product growth for 2023 at its monetary meeting this month because the situation in the agricultural sector is…
Euro zone Aug producer prices edge up month-on-month as expected, plunge year-on-year
BRUSSELS (Reuters) – Euro zone producer prices edged higher as expected month-on-month in August and plunged year-on-year on a sharp drop in energy prices, data showed on Wednesday. The European Union’s statistics…
UK’s Phoenix Group says Nicholas Lyons to return as chair in December
(Reuters) – British insurer Phoenix Group said on Wednesday Nicholas Lyons will return as chair of its board in December, after he stepped down last year to take up the full-time role…
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