LONDON (Reuters) – Britain’s gilt yields rose across the curve, while the premium investors demand to hold UK debt, rather than German, hit its highest since August 2023 as investors digested Britain’s new budget that is set to raise borrowing, spending and taxes. Britain’s 10-year gilt yield was last up 3.5 basis points (bps) on …
Britain’s gilt yields spike after UK budget, reversing earlier fall Read More »
By Jan Strupczewski BRUSSELS (Reuters) – Europe’s investment needs in the economy’s green and digital transition, defence and research should be financed by private money, with public cash serving only to leverage it, European Union (EU) finance ministers will say on Monday. Their statement, a draft of which has been seen by Reuters, will form …
Private cash, levered by public money, must dominate EU investment, ministers say Read More »
LONDON (Reuters) – British finance minister Rachel Reeves on Wednesday announced a new fiscal target to have government debt falling, called the “investment rule”, designed to give the government more leeway to borrow for investment. Reeves said the government will now target public sector net financial liabilities (PSNFL) rather than public sector net debt (PSND) …
UK’s Reeves redesigns rule to get government debt falling Read More »
By Nora Eckert DETROIT (Reuters) -Ford Motor stock has tumbled about 8% so far this week after the company faltered on CEO Jim Farley’s mission to improve efficiency in its traditional gasoline-engine operations, whose profits the company needs to fund its expensive electric vehicle plans. Quality and warranty problems, supplier issues and waste in the …
Analysis-Ford investors impatient for the automaker to boost efficiency efforts Read More »
LONDON (Reuters) – British finance minister Rachel Reeves said on Wednesday she would raise employers’ social security contributions to 15% from April, a major revenue raiser in a budget the government hopes will kick-start a flagging economy. Britain’s Labour government has long said those with the “broadest shoulders” should do more to help fix the …
UK’s Reeves raises employers’ National Insurance Contributions Read More »
FRANKFURT (Reuters) – The European Central Bank should retain its focus on getting inflation to 2% in the medium-term as this allows for small, temporary deviations around its target, French central bank chief Francois Villeroy de Galhau said on Wednesday. With inflation now almost back at target, ECB policymakers are discussing just how much flexibility …
ECB should not have to react to short-term deviations to inflation target, Villeroy says Read More »
By Andrew MacAskill and Alistair Smout LONDON (Reuters) – British finance minister Rachel Reeves announced large tax increases on the rich on Wednesday, betting she could fund higher spending on public services without damaging the economy and triggering a mass exodus of millionaires. For the wealthiest in Britain, the proposals will mean higher taxes on …
Britain’s Reeves targets wealthy and foreign income with big tax rises Read More »
RIYADH/DUBAI (Reuters) -Saudi Arabia’s newest airline Riyadh Air said on Wednesday it had placed an order for 60 Airbus narrowbody A321-family jets as it prepares to start operations in 2025. The deal, signed at the Future Investment Initiative forum in Riyadh, brings to 132 the total number of jets ordered by the Saudi startup, which …
By Krystal Hu, Fanny Potkin and Stephen Nellis (Reuters) – OpenAI is working with Broadcom and TSMC to build its first in-house chip designed to support its artificial intelligence systems, while adding AMD chips alongside Nvidia chips to meet its surging infrastructure demands, sources told Reuters. OpenAI, the fast-growing company behind ChatGPT, has examined a …
Exclusive-OpenAI builds first chip with Broadcom and TSMC, scales back foundry ambition Read More »
(Reuters) – Chrysler parent Stellantis will recall about 33,777 Ram 1500 pickup trucks in the U.S., over a concern related to the electronic stability control system, the National Highway Traffic Safety Administration said on Wednesday. The front wheel hub encoder rings may be damaged, which can disable the electronic stability control system, the NHTSA said. …
Stellantis to recall over 33,000 Ram trucks, NHTSA says Read More »
