Category: Reuters
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World leaders join Ukraine summit in test of Kyiv’s diplomatic clout By Reuters
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Written by John Revell and Emma Farge LUCERNE, Switzerland (Reuters) – World leaders will gather in Switzerland on Saturday for a summit aimed at pressuring Russia to end its war in Ukraine, but Moscow’s absence of powerful allies such as China will limit its potential influence. Dozens of Ukraine’s allies…
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Carlyle explores sale of electric power producer Cogentrix, FT reports By Reuters
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(Reuters) – Private equity firm Carlyle has hired advisers to study a sale of Cognitrix that could value the North Carolina-based energy producer at as much as $3 billion to $4 billion, the Financial Times reported, citing three people familiar with the matter. Carlyle is also selling other energy assets…
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Dollar pares losses as Fed officials project only one rate cut this year By Reuters
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Written by Karen Brettell NEW YORK (Reuters) – The dollar fell on Wednesday after data showed that consumer prices in May rose less than economists expected, but pared losses after an updated interest rate forecast by Federal Reserve officials showed an expectation of another rate cut. Only one this year.…
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Novo Nordisk CEO to testify in US Senate hearing on high cost of Ozempic, Wegovy By Reuters
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(Reuters) – Novo Nordisk (NYSE:) CEO Lars Jorgensen has agreed to voluntarily testify at a hearing focusing on U.S. prices for weight-loss drugs Ozempic and Wegovy, the Senate Committee on Health, Education, Labor and Pensions said on Friday. A vote by the US Senate Health Committee, which was scheduled to…
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Argentina extends currency swap with China, defusing repayment fears By Reuters
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BUENOS AIRES (Reuters) – Argentina and China have renewed the activated portion of a major currency swap line for the equivalent of $5 billion until July 2026, the central bank said on Wednesday, dispelling concerns that they may have to make large installments over the next month. . The South…
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Bears firm up bets on Asian currencies as US rate cuts remain elusive : Reuters poll By Reuters
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Written by Sameer Manekar (Reuters) – Analysts strengthened their bearish positions on most Asian currencies as higher long-term US interest rates and the dollar’s resilience are likely to continue to hurt local units, a Reuters poll showed on Thursday. A bi-monthly poll of 10 analysts showed that the Indonesian rupiah…
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Investors react to BOJ decision to keep policy unchanged, trim bonds in future By Reuters
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(Reuters) – The Bank of Japan left interest rates unchanged on Friday but said it would reduce future bond purchases to allow long-term interest rates to move more freely. At the end of the two-day policy meeting, the central bank said it would continue buying government bonds at the current…
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Musk’s small-investor army cheers approval of $56 billion Tesla pay package By Reuters
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Written by Abhiroop Roy SAN FRANCISCO (Reuters) – Elon Musk’s army of small investor allies scored a victory on Thursday as the Tesla (NASDAQ:) CEO won a crucial shareholder vote on his $56 billion pay package despite opposition from major institutions. Wealthy investors, who own an unusually high stake in…
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Visa, Mastercard $30 billion fee settlement in peril By Reuters
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Written by Jonathan Stemple NEW YORK (Reuters) – Visa (NYSE:) and MasterCard (NYSE:)’s proposed $30 billion antitrust settlement to limit credit and debit card fees for merchants is in jeopardy, after a New York judge signaled she was preparing to reject the agreement. U.S. District Judge Margo Brody in Brooklyn…
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Rouble swings to opaque trading territory after new US sanctions By Reuters
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MOSCOW (Reuters) – New U.S. sanctions that forced Russia’s leading exchange to halt trading in dollars and euros led to a range of mixed prices and spreads as trading moved over-the-counter on Thursday, hindering access to reliable prices for the Russian euro. currency. The Russian Central Bank set the official…
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Trump, Biden aide woo corporate America executives By Reuters
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Written by David Shepardson, Joey Rowlett and Gram Slattery WASHINGTON (Reuters) – Republican presidential candidate Donald Trump and Jeff Zients, White House chief of staff under US President Joe Biden, met on Thursday with top US business leaders in Washington as they seek to win the support of US companies…
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Dollar gains on hawkish Fed, even as inflation cools By Reuters
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Written by Karen Brettell NEW YORK (Reuters) – The dollar rose on Thursday despite the US producer price inflation report for May, after the Federal Reserve adopted a hawkish tone at the end of its meeting on Wednesday. Data on Thursday showed that US producer prices fell unexpectedly in May,…
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Sterling set for fifth weekly gain against euro after shock French election call By Reuters
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LONDON (Reuters) – The pound is headed for its fifth weekly gain against the euro on Thursday, after hitting its highest levels in almost two years against the single European currency, which was rocked by political uncertainty in France. The euro fell to its lowest level against the pound since…
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FedEx to cut up to 2,000 back-office jobs in Europe amid weak freight demand By Reuters
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Written by Ananta Agarwal (Reuters) – FedEx plans to cut between 1,700 and 2,000 back-office jobs in Europe, in its latest cost-cutting effort as the package delivery giant faces a decline in demand for shipping. FedEx (NYSE:) said the cuts will extend over 18 months and will result in a…
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Musk says Tesla shareholder vote for $56 billion pay package passing by wide margins By Reuters
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(Reuters) – Tesla (NASDAQ:) shareholder decisions on CEO Elon Musk’s pay package and its move to move legal headquarters to Texas are currently passing by wide margins, Musk said in a post on social media platform X on Wednesday. Electric car maker Tesla shareholders are voting on a proposal to…
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PBOC is expected to set the USD/CNY reference rate at 7.2384 – Reuters estimate
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The People’s Bank of China is scheduled to release the USD/CNY reference exchange rate at approximately 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 renminbi). The People’s Bank of China follows…
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U.S. East Coast port union strike threat to test shippers’ nerves By Reuters
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(Reuters) – Labor talks at U.S. ports on the East Coast and Gulf of Mexico represent a looming danger for retailers, manufacturers and other shippers already struggling with longer transit times and higher costs. The International Longshoremen’s Association’s contract, which covers 45,000 workers at thirty ports from Maine to Texas,…
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Member of famous Motown group Four Tops sues hospital for racial discrimination By Reuters
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Written by Joseph X (Reuters) – The lead singer of the popular Motown band The Four Tops has filed a lawsuit against a hospital in Michigan, claiming he was restrained and denied treatment for a serious heart problem after medical workers did not believe he was a member of the…
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Alexander Hamilton’s bank is getting a new name: BNY By Reuters
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Written by Lanan Nguyen NEW YORK (Reuters) – America’s oldest bank is getting a new name. Bank of New York Mellon (NYSE:) is adopting BNY as its new moniker, it announced Tuesday. The company also unveiled signs in large letters bearing the three-letter name at its head offices. Since its…
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Thousands of Amazon Flex drivers file arbitration claims for misclassification as contractors By Reuters
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(Reuters) – Thousands of Amazon.com (NASDAQ:) Flex (NASDAQ:) drivers filed arbitration claims on Tuesday, alleging they were misclassified as independent contractors rather than employees, the lawyer representing the drivers told Reuters. About 15,800 drivers have filed arbitration claims with the American Arbitration Association, seeking compensation from Amazon for unpaid wages,…