Category: Reuters
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Exclusive-AI coding startup Magic seeks $1.5-billion valuation in new funding round, sources say By Reuters
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Written by Anna Tong and Crystal Ho (Reuters) – U.S. startup Magic, which develops artificial intelligence models for writing software, is in talks to raise more than $200 million in a funding round that values it at about $1.5 billion, three sources told Reuters, just months after its latest capital…
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US new-vehicle sales growth slows after CDK cyberattack By Reuters
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By Nathan Gomez (Reuters) – Major U.S. automakers reported slower sales growth in the second quarter after a cyberattack on software company CDK Systems Inc. impacted operations at several dealerships during a crucial sales period in late June. General Motors reported a 0.6% rise in new vehicle sales, compared with…
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Japan’s fin min affirms FX vigilance but avoids intervention warning By Reuters
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Written by Makiko Yamazaki TOKYO (Reuters) – Japanese Finance Minister Taro Kono said on Tuesday authorities were vigilant for sharp moves in the currency market as the yen continued to slide to a 38-year low against the dollar, but he stopped short of issuing a clear warning of intervention. The…
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South African rand extends losses, focus on unity government’s reforms By Reuters
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JOHANNESBURG (Reuters) – South Africa’s rand extended losses on Tuesday after a turbulent start to the week as markets waited to see how the new national unity government would handle economic reform after forming a cabinet. By 11:31 GMT, the rand was trading at 18.475 against the dollar, down 0.6%…
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US Treasury yields boost dollar, Powell speech in focus By Reuters
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By Amanda Cooper and Stefano Ribaudo (Reuters) – Rising U.S. yields supported the dollar on Tuesday, while low-yielding currencies such as the Japanese yen felt pressure as investors awaited a speech by Federal Reserve Chairman Jerome Powell later in the session. Benchmark 10-year U.S. Treasury yields rose about 14 basis…
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Spirit Aero chief in spotlight as Boeing searches for new CEO By Reuters
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Written by Rajesh Kumar Singh CHICAGO (Reuters) – Boeing Co’s long-awaited announcement that it will buy back its troubled supplier Spirit Aerosystems Inc has now turned investors’ focus to the planemaker’s search for a new chief executive. Boeing is looking for a new chief executive after Dave Calhoun said in…
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Samsung Electronics workers to strike on July 8-10, union official says By Reuters
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By Heekyung Yang and Joyce Lee SEOUL (Reuters) – South Korea’s Samsung Electronics Co Ltd workers’ union has called a strike from July 8 to 10, a union official said on Tuesday, as it steps up industrial action against the country’s most valuable company. The official told Reuters by phone…
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Drugmakers’ appeal to end Zantac cancer lawsuits rebuffed by judge By Reuters
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By Brendan Pearson (Reuters) – A Delaware judge has rejected a request by GlaxoSmithKline and other drugmakers to appeal a ruling that allows more than 70,000 lawsuits alleging that heartburn drug Zantac causes cancer. The ruling by Judge Vivian Medinella of the Delaware Supreme Court means that drug companies, which…
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Drugmakers’ appeal to end Zantac cancer lawsuits rebuffed by judge By Reuters
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By Brendan Pearson (Reuters) – A Delaware judge has rejected a request by GlaxoSmithKline and other drugmakers to appeal a ruling that allows more than 70,000 lawsuits alleging that heartburn drug Zantac causes cancer. The ruling by Judge Vivian Medinella of the Delaware Supreme Court means that drug companies, which…
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Explainer-How a Boeing plea deal could affect the planemaker By Reuters
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By Chris Prentice and Mike Spector (Reuters) – The U.S. Justice Department will file criminal fraud charges against Boeing Co over two fatal crashes and will require the planemaker to plead guilty or face trial, people familiar with the matter said on Sunday. Boeing will have until the end of…
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On Trump, Russia UN envoy says Ukraine war can’t end in one day By Reuters
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By Michelle Nichols UNITED NATIONS (Reuters) – Russian Ambassador to the United Nations Vasily Nebenzia said on Monday that “the Ukrainian crisis cannot be resolved in one day,” in response to a question about US presidential candidate Donald Trump’s repeated claims that he could end the war within 24 hours…
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WestJet’s union ends strike after reaching deal with carrier By Reuters
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(Reuters) – The union representing striking mechanics at Canada’s WestJet Airlines said on Monday it had negotiated a contract with the carrier, ending their strike with immediate effect. WestJet said its members will return to work to restore the network after the airline was forced to ground 130 aircraft at…
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Property catastrophe reinsurance rates fall in July, report says By Reuters
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LONDON (Reuters) – Global property catastrophe reinsurance rates ranged from unchanged to “mid- to high-single-digit” declines in July after years of rising prices, reinsurance broker Guy Carpenter said on Monday. Insurance companies tend to renew their reinsurance contracts on specific renewal dates, including July 1. Reinsurance rates — insurance for…
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Dollar is only winner from China-West trade war: McGeever By Reuters
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By Jamie McGeever ORLANDO, Fla. (Reuters) – The U.S. dollar may be the only “winner” from a potential all-out trade war between the West and China. Uncertainty over global trade policy is the highest since 2018-2019 when clashes between the administration of former US President Donald Trump and Beijing reached…
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South African markets cheer Ramaphosa’s ‘business friendly’ cabinet By Reuters
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Written by Bhargav Acharya and Kopano Gombe JOHANNESBURG (Reuters) – South African assets rose sharply on Monday after President Cyril Ramaphosa formed a long-awaited new government that included the former opposition leader and signaled continuity in fiscal policy by sticking by his former finance minister. But some investors said the…
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Analysis-Scientists wary of bird flu pandemic ‘unfolding in slow motion’ By Reuters
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By Julie Steenhuysen and Jennifer Rigby CHICAGO/LONDON (Reuters) – Scientists tracking the spread of bird flu are increasingly concerned that gaps in surveillance could leave them several steps behind a new pandemic, Reuters interviews with more than a dozen leading disease experts showed. Many have been monitoring the new H5N1…
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European stocks rally after first round of French vote By Reuters
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(Reuters) – European shares rose on Monday, with French stocks leading the rally after the far-right National Rally party made historic gains in the first round of parliamentary elections, but by a smaller margin than some opinion polls had suggested. France’s blue chips rose 2.6% to lead gains among regional…
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Asia stocks stutter, euro gains after first round vote in France By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – Asian stocks were mixed on Monday as traders weighed the outlook for U.S. interest rates, while the euro rose after the far-right won a smaller share of the vote in the first round of a surprise snap election in France than some polls…
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Euro rises after France’s first-round vote, yen struggles By Reuters
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By Ray Wee SINGAPORE (Reuters) – The euro rose on Monday after the first round of snap elections in France put the far right in front, albeit by a smaller margin than expected, while a cut in Japan’s first-quarter growth figures sent the yen lower. Exit polls in France showed…