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…
Analysis-Euro parity is back on the dial for FX markets
By Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) – Resurgent oil prices hurting a deteriorating economy and renewed concerns about Italy’s fiscal position mean headwinds for the euro are getting stronger, raising…
Marketmind: Yen back near 150 as intervention chatter swirls
A look at the day ahead in European and global markets from Ankur Banerjee The “will-they-won’t-they” discussion over yen intervention has now morphed to “did-they-didn’t-they” speculation, after the Japanese currency briefly breached…
Bank Indonesia official signals steady rates as authorities try to calm markets
By Stefanno Sulaiman JAKARTA (Reuters) – Bank Indonesia could maintain price stability with past rate hikes, a deputy governor said on Wednesday, signalling policy rates will be held steady again later this…
UAE’s non-oil business growth picks up in Sept on strong demand-PMI
DUBAI (Reuters) – Non-oil business activity in the United Arab Emirates expanded at a faster rate in September than the previous month, a survey showed on Wednesday, as new orders came in…
NZ central bank holds rates, signals higher hurdle to further hikes; kiwi tumbles
By Lucy Craymer WELLINGTON (Reuters) -New Zealand’s central bank held rates steady on Wednesday as policymakers were more confident that past hikes were working to bring down inflation as desired, sending the…
Malaysia sees greater savings from shift to targeted subsidy system – Bloomberg, citing minister
KUALA LUMPUR (Reuters) – Malaysia expects to save at least $1 billion to $2 billion a year from a shift to a targeted subsidy system in a bid to narrow its fiscal…
Meta’s Instagram, Facebook to charge EU users for ad-free service – sources
By Supantha Mukherjee and Jyoti Narayan (Reuters) – Meta Platforms is looking to introduce ad-free subscription plans for Instagram and Facebook users in Europe, two people familiar with the matter said on…
Sam Bankman-Fried’s father, ex-Trump staffer among possible trial witnesses
By Jody Godoy and Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried’s father and brother, as well as Donald Trump’s former spokesman Anthony Scaramucci, are among possible witnesses at the cryptocurrency exchange founder’s…
Australia’s Westpac fails to sell pacific banking business
(Reuters) – Australian lender Westpac said on Wednesday it had cancelled the sale of its Fiji and Papua New Guinea businesses, ending a years-long process that was beset by regulatory problems. The…
S.Korea factory activity shrinks again in Sept, mildest slump in 15 months – PMI
By Jihoon Lee SEOUL (Reuters) – South Korea’s factory activity shrank in September at the mildest pace in 15 months, as the decline in output and orders softened, a private business survey…
South Korea factory output posts biggest gain in over three years boosted by chips
SEOUL (Reuters) – South Korea’s factory output unexpectedly jumped in August by the fastest rate in more than three years, led by chip production, official data showed on Wednesday. The industrial output…
Explainer-What would Japanese intervention to boost the weak yen look like?
By Leika Kihara TOKYO (Reuters) – Japanese authorities are facing renewed pressure to combat a sustained depreciation in the yen, as investors eye prospects of higher-for-longer U.S. interest rates while the Bank…
Japan service activity growth slows down in September – PMI
TOKYO (Reuters) – Japan’s service activity in September expanded for the 13th month but at the slowest pace since the start of the year, a private survey showed, a worrying sign as…
US SEC asks judge to deny Coinbase motion to dismiss its lawsuit
By Hannah Lang and Chris Prentice (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Tuesday asked a federal judge to deny a motion from Coinbase Global to dismiss the regulator’s…
US agency, California gathering details of accident involving robot taxi and pedestrian
By David Shepardson WASHINGTON (Reuters) -U.S. and California officials said on Tuesday they are in discussions with General Motors’ self-driving unit Cruise about an accident in San Francisco involving a pedestrian hit…
S&P 500 ends at lowest since June 1 as data fuels rate worries
By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 index closed at its lowest level since June 1 on Tuesday as economic data underscored the view the Federal Reserve may need…
Brazil’s government seeks Congress vote on bill taxing offshore, closed-end funds this week
BRASILIA (Reuters) – The Brazilian government wants Congress to pass a bill this week that would tax offshore and closed-end funds, and change an instrument companies use for shareholder payments, a government…
US new vehicle sales jump in third quarter as UAW strike casts shadow
By Nathan Gomes (Reuters) -Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies. General…
Exclusive-Meta to lay off employees in metaverse silicon unit on Wednesday
By Katie Paul NEW YORK (Reuters) – Meta is planning to lay off employees on Wednesday in the unit of its metaverse-oriented Reality Labs division focused on creating custom silicon, two sources…
Intel to spin out programmable chip unit, hold IPO; shares rise 2%
By Stephen Nellis and Samrhitha A (Reuters) -Chipmaker Intel on Tuesday said it plans to operate its programmable chip unit as a standalone business starting in January, with plans to hold a…
Spotify Premium to include free access to audiobooks in UK, Australia
(Reuters) – Spotify said on Tuesday that users of its premium services in the UK and Australia would now have 15 hours of free access to audiobooks a month, with the feature…
Insulet CFO to step down, join 3M’s healthcare business
(Reuters) -Insulet Corp said on Tuesday Wayde McMillan would step down as the medical device maker’s chief financial officer, effective Oct. 20, to join 3M’s healthcare business. McMillan will join 3M as…
Marketmind: Breaking point?
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Another crushing selloff in U.S. Treasuries, one of the biggest falls in…
Yen surges against dollar, leads some to suspect intervention
By Chuck Mikolajczak, Saqib Iqbal Ahmed and Lucy Raitano NEW YORK/LONDON/TOKYO (Reuters) -The yen strengthened sharply against the dollar on Tuesday, leading some market participants to believe Japanese policymakers had intervened to…
FTX’s COO Wang agreed to be witness for US authorities in Bankman-Fried probe, book says
By Hannah Lang (Reuters) – Former FTX chief operating officer Constance Wang agreed to serve as a witness for U.S. prosecutors in their case against the crypto exchange’s founder and former CEO…
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