Category: Reuters
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Dollar hits year low versus euro as traders await data and Powell By Reuters
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By Kevin Buckland TOKYO (Reuters) – The dollar fell to its lowest level this year against the euro on Wednesday as traders braced for potentially crucial revisions to U.S. jobs data later in the day, ahead of a speech by Federal Reserve Chairman Jerome Powell at the end of the…
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XPeng projects lower-than-expected Q3 revenue on stiff competition By Reuters
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(Reuters) – China’s Xpeng Inc (NYSE:XP) forecast third-quarter revenue below expectations and missed second-quarter sales estimates on Tuesday, hurt by stiff competition and weaker demand for its aging lineup of expensive electric vehicles. The company, however, expects to deliver between 41,000 and 45,000 vehicles in the third quarter, slightly more…
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Michelle Obama tells Trump presidency just may be a ‘Black job’ By Reuters
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Written by Stephanie Kelly CHICAGO (Reuters) – Michelle Obama took aim at Republican presidential candidate Donald Trump on Tuesday at the Democratic National Convention, criticizing his character and the racist attacks she and her husband Barack have faced in the past. “His narrow, limited view of the world made him…
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Domino’s Australia franchise slumps 7% as high costs take larger slice of profit By Reuters
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(Reuters) – Shares of Australia-based Domino’s Pizza Enterprises Inc fell more than 7% on Wednesday after the franchise operator reported a weak start to the 2025 financial year as rising costs and frugal consumers weighed on profitability. Domino’s Pizza Enterprises operates the largest master franchise of the American pizza giant…
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Energix signs long-term solar power deal with Google By Reuters
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Energex Renewable Energy said Tuesday it has signed a long-term agreement with Alphabet Inc’s Google to supply the tech giant with electricity and renewable energy credits generated from its solar projects. To power rapidly expanding AI data centers, big tech companies like Google are increasingly negotiating electricity supply agreements with…
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Fertilizer Canada says rail stoppage to cost industry up to C$63 million a day By Reuters
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(Corrects currency to Canadian dollars from US dollars in title and paragraph 1) Written by Merinalika Roy Canadian Fertilizers warned Tuesday that disruptions affecting all rail services across the country will cost the fertilizer industry an estimated C$55 million (US$40.34 million) to C$63 million (US$46.21 million) in lost sales revenue,…
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Dollar nears 7-month low ahead of Powell, Swedish crown falls after rate cut By Reuters
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By Ankur Banerjee and Stefano Ribaudo (Reuters) – The dollar hovered near a seven-month low on Tuesday amid bets the U.S. central bank will start cutting interest rates next month, with traders bracing for comments from Federal Reserve Chairman Jerome Powell on Friday. The dollar’s weakness has lifted the euro…
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Dollar nears 7-month low ahead of Powell, Swedish crown falls after rate cut By Reuters
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By Ankur Banerjee and Stefano Ribaudo (Reuters) – The dollar hovered near a seven-month low on Tuesday amid bets the U.S. central bank will start cutting interest rates next month, with traders bracing for comments from Federal Reserve Chairman Jerome Powell on Friday. The dollar’s weakness has lifted the euro…
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After yacht sinks off Sicily, search continues for six missing By Reuters
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PALERMO, Sicily (Reuters) – Rescue teams in Sicily were preparing to resume the search for six people missing, including British businessman Mike Lynch and his daughter, after a violent storm hit a luxury yacht and it sank on Monday, killing one person on board. The British-flagged 56-metre (184-foot) sailing ship…
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Biden hails Harris as DNC’s future in emotional farewell speech By Reuters
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By Steve Holland, Trevor Hunnicutt, and Doina Chiacu CHICAGO (Reuters) – President Joe Biden cemented the Democratic nomination of Kamala Harris to lead the fight for the White House against Republican Donald Trump with a speech at the party’s convention on Monday in which he hailed his running mate as…
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Biden hails Harris as DNC’s future in emotional farewell speech By Reuters
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By Steve Holland, Trevor Hunnicutt, and Doina Chiacu CHICAGO (Reuters) – President Joe Biden cemented the Democratic nomination of Kamala Harris to lead the fight for the White House against Republican Donald Trump with a speech at the party’s convention on Monday in which he hailed his running mate as…
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Biden hails Harris as DNC’s future in emotional farewell speech By Reuters
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By Steve Holland, Trevor Hunnicutt, and Doina Chiacu CHICAGO (Reuters) – President Joe Biden cemented the Democratic nomination of Kamala Harris to lead the fight for the White House against Republican Donald Trump with a speech at the party’s convention on Monday in which he hailed his running mate as…
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Seven & i shares give up some gains after Couche-Tard bid By Reuters
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TOKYO (Reuters) – Shares of Japan’s Seven & I Holdings Inc fell about 6 percent in morning trade on Tuesday, giving up some of their gains the previous day when they were boosted by news of a takeover bid from Canada’s Alimentation Couture. Although the value of the offer was…
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PBOC is expected to set the USD/CNY reference rate at 7.1317 – Reuters estimate
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The People’s Bank of China is scheduled to set the exchange rate of the US dollar against the Chinese yuan at around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or RMB).…
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Trump says he may end EV tax credit; is open to naming Elon Musk as an adviser By Reuters
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By David Shepardson YORK, Pennsylvania (Reuters) – Republican presidential candidate Donald Trump said on Monday that if elected he would consider ending the $7,500 tax credit for electric vehicles and would be open to appointing Tesla Inc Chief Executive Elon Musk to a cabinet or advisory position. “Tax credits and…
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Wall St ends higher, extending rally ahead of Jackson Hole By Reuters
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By Steven Kolb NEW YORK (Reuters) – U.S. stocks rose on Monday, posting their biggest weekly percentage gain this year as investors focused on the Democratic National Convention and the upcoming Jackson Hole Economic Symposium. The tech-heavy Nasdaq led all three major U.S. stock indexes to a higher close, helped…
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Trump to reiterate he will stop US Steel sale to Nippon By Reuters
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By Gram Slattery and David Shepardson YORK, Pa. (Reuters) – Republican presidential candidate Donald Trump will confirm on Monday that he will block Nippon Steel Corp.’s planned purchase of U.S. Steel and move to roll back power plant pollution rules put in place by the Biden administration. Trump had signaled…
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Dollar hits 7-month low, yen gains as traders wait on Jackson Hole By Reuters
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By Karen Brittl NEW YORK (Reuters) – The dollar fell to a seven-month low and the Japanese yen hit its highest in more than a week as traders awaited comments from Federal Reserve Chairman Jerome Powell this week that are likely to signal the U.S. central bank will start cutting…
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Funds go long yen for first time in four year: McGeever By Reuters
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By Jamie McGeever ORLANDO, Fla. (Reuters) – Speculative carry trades funded in Japanese yen have completely declined, according to one measure. The latest data from the Commodity Futures Trading Commission shows that hedge funds and speculators have reversed their short positions in the yen and are now net long in…
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Yuan up as dollar wobbles ahead of Jackson Hole By Reuters
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SINGAPORE (Reuters) – China’s yuan was on track for its biggest gain in two weeks on Monday, benefiting from a broad sell-off in the dollar as investors bet on a U.S. interest rate cut, but it weakened against the strong yen. The Chinese currency rose to 7.1314 yuan per dollar…