(Reuters) – Drawn-out negotiations between the White House and Republicans to raise the $31.4 trillion debt ceiling have unnerved markets and fanned worries about the economic impact of a possible default. Global rating agencies have warned of a downgrade of the country if a deal is not reached soon. Following are some of the actions …
Factbox-Top US credit rating under watch as debt ceiling talks drag on Read More »
By Nandita Bose, Jarrett Renshaw and David Morgan WASHINGTON (Reuters) -U.S. President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the government’s $31.4 trillion debt ceiling for two years while capping spending on most items, a U.S. official told Reuters. The deal, which is not final, …
Biden, McCarthy appear near two-year deal on US debt ceiling as default looms Read More »
BEIJING (Reuters) – Steel rebar prices in China hit their lowest in three years this week, underscoring flagging growth in the world’s second-largest economy, particularly in its weak property sector. The spot price of HRB400 20mm steel rebar – used to reinforce concrete for buildings and infrastructure – fell to 3,510 yuan ($507.80) per tonne …
China steel prices hit three-year low on demand woes Read More »
By Anirban Sen and Karl Plume (Reuters) -Global grain trader Viterra is in talks to merge with U.S. rival Bunge Ltd, a person familiar with the matter said, in a potential mega deal that would reshape the top tier of global grains merchants. There is no certainty that Viterra, part-owned by Switzerland-based mining and trading …
Grain trader Viterra in talks to merge with rival Bunge – source Read More »
(Reuters) – Canadian privacy regulators are launching a joint investigation into ChatGPT-parent OpenAI’s data collection and usage, becoming the latest major government to take a closer look at the regulation of artificial intelligence (AI) tools. The federal privacy regulator, along with counterparts in Quebec, British Columbia and Alberta, will investigate if OpenAI has obtained consent …
Canada to launch probe into OpenAI over privacy concerns Read More »
(Reuters) – The cost of insuring exposure to U.S. government debt dropped on Friday as U.S. President Joe Biden and top congressional Republican Kevin McCarthy were closing in on a deal that would raise the U.S. debt ceiling. The 6-month credit default swap dropped 13 basis points from Thursday’s close to 212 basis points, data …
U.S. credit default swaps fall as debt ceiling talks progress Read More »
By Jody Godoy (Reuters) – Bank of America must face cardholder allegations that it bungled its response to unauthorized transactions on unemployment and disability benefits cards in California during the pandemic, a San Diego judge ruled on Thursday. U.S. District Judge Larry Alan Burns said benefits recipients can move forward with a proposed class action …
BofA must face class action over 2020 benefit card fraud Read More »
By Hyunjoo Jin and David Shepardson (Reuters) -Tesla Inc CEO Elon Musk and Ford Motor Co CEO Jim Farley on Thursday will discuss efforts on “accelerating EV adoption in North America” during an online Twitter conversation, Ford said. The Twitter Spaces conversation will take place at 5:30 p.m. EDT (2130 GMT). Musk also owns Twitter. …
By Katherine Masters (Reuters) -Gap Inc on Thursday reported a surprise profit in the first quarter, benefiting from the apparel retailer’s restructuring efforts and easing supply chain costs. Shares of Gap rose 13% to $8.40 in extended trading. U.S. companies are starting to see some relief from sky-high costs of freight and manufacturing after years …
Gap posts surprise profit on easing costs, restructuring Read More »
By Laura Matthews NEW YORK (Reuters) – Some corporate treasurers are stepping up their contingency plans to address any upcoming funding and liquidity needs to get ahead of the risk of debt default as talks in Washington drag on, finance executives and advisors said. With the U.S. Treasury Department warning that the federal government could …
Companies beef up contingency plans ahead of US debt-ceiling deadline Read More »
