(Refiles to adds dropped word in first paragraph) By Chuck Mikolajczak NEW YORK (Reuters) -The dollar rose against a basket of major currencies on Tuesday, reversing course after three straight sessions of declines as recession fears grew and investors awaited a Federal Reserve policy statement, while energy supply concerns weighed on the euro. European Union …
Gas woes drag euro lower, dollar gains on recession worry Read More »
By Jorgelina do Rosario and David Lawder LONDON (Reuters) -Bangladesh asked the International Monetary Fund to start talks on a new loan under the creditor’s Resilience and Sustainability Trust (RST), which is designed to help countries ensure sustainable growth, said Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, in a Tuesday interview. Bangladesh’s …
Exclusive-IMF says Bangladesh seeks loan under fund’s resilience trust Read More »
WASHINGTON (Reuters) -President Joe Biden on Tuesday welcomed plans from South Korea’s second-largest conglomerate SK Group to invest $22 billion in new investments in the United States in semiconductors, green energy and bioscience projects. During a meeting at the White House with SK Group Chairman Chey Tae-won, Biden called the investment consequential. He said it …
Biden welcomes SK Group plans to invest $22 billion in U.S. high-tech sectors Read More »
By Laura Sanicola (Reuters) -Oil prices reversed early gains and settled lower on Tuesday, as investors worried about lower consumer confidence and braced for another 20 million barrels of crude oil to be released from the U.S Strategic Petroleum Reserve. Brent crude futures fell 75 cents, or 0.7%, to settle at $104.40. U.S. West Texas …
Oil settles down on lower U.S. consumer confidence, coming SPR release Read More »
By Hilary Russ and Richa Naidu NEW YORK/LONDON (Reuters) -Some global consumers are showing signs of cracking, as shoppers stressed by record inflation stick to buying basics like food, bleach and cheap burgers, while those with bigger bank accounts are snapping up $3,000 Louis Vuitton handbags. Investors are closely watching corporate results for signs economies …
From burgers to bleach, stressed consumers buy cheap Read More »
(Corrects first paragraph to say robust growth in U.S. and Europe, not U.S. and China) PARIS (Reuters) – Sales at LVMH, the world’s largest luxury group, rose by 19% in the three months to June, as robust growth in the U.S. and Europe helped it offset a new round of lockdowns in China. LVMH, which …
LVMH Q2 sales climb 19%, offsetting slower China Read More »
By Ari Rabinovitch and Jonathan Saul HAIFA, Israel (Reuters) – The city of Haifa is set to become an increasingly significant east Mediterranean shipping hub, with Chinese and Indian firms buying into its ports as Israel normalizes ties with its Gulf Arab neighbours under a U.S. diplomatic push. Earlier this month, as U.S. President Joe …
Asian investors bet on Haifa as Israel draws closer to Arab Gulf Read More »
By Jonathan Stempel (Reuters) – A U.S. regulator has ordered a Hyundai Motor Co affiliate to pay $19.2 million for repeatedly giving credit-reporting agencies inaccurate information about its customers, including that they were delinquent on loans and leases. Hyundai Capital America, which serves about 1.7 million drivers of Hyundai, Kia and Genesis vehicles, agreed on …
Hyundai to pay $19.2 million for widespread credit-reporting failures – U.S. regulator Read More »
By Ruma Paul and Krishna N. Das DHAKA (Reuters) -Bangladesh has sought a $4.5 billion loan from the International Monetary Fund, the Daily Star newspaper reported on Tuesday, joining South Asian neighbours Pakistan and Sri Lanka in seeking help to cope with mounting pressure on their economies. Known for its big garment-exporting industry, Bangladesh has …
Bangladesh seeks $4.5 billion IMF loan as deficit widens, newspaper says Read More »
(Reuters) – British e-commerce group THG said on Tuesday it had terminated a collaboration agreement with a unit of SoftBank Group Corp due to challenging global market conditions. THG said the call option agreed in May last year for SoftBank’s SB Management to inject a further $1.6 billion into THG’s technology arm THG Ingenuity would …
British e-commerce firm THG ends agreement with SoftBank Read More »
