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WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday said the global economy was facing “significant headwinds” and the United States was working to shore up its supply chains and guard against “geopolitical coercion” by Russia and others. Yellen told an event hosted by the Bretton Woods Committee, a booster group, that Washington was …

Treasury’s Yellen says global economy faces headwinds, warns of geopolitical ‘coercion’ Read More »

(Reuters) – The world’s richest man, Elon Musk, has scented a new opportunity to capitalise on quirky products, launching a perfume called “Burnt Hair” that he said sold 10,000 bottles to earn a million dollars in just a few hours. “With a name like mine, getting into the fragrance business was inevitable – why did …

Elon Musk sells $1 million worth of quirky new perfume, ‘Burnt Hair’ Read More »

By Tim Hepher LONDON (Reuters) – The head of European planemaker Airbus on Wednesday reaffirmed a target of delivering a total of 700 aircraft in 2022 – a task he said was necessary to reach a separate monthly production target of 65 narrowbody jets in early 2024. “There is a lot on our plate … …

Airbus CEO says 2022 deliveries may affect later output Read More »

LONDON (Reuters) – The cost of insuring the debt of Credit Suisse against default rose on Wednesday, while its bonds and shares fell, after reports that the Swiss lender may be the subject of a U.S. tax investigation. Credit default swaps, an instrument that will pay its holder in the event of an issuer defaulting, …

Credit Suisse debt insurance costs rise, bonds ease after tax probe report Read More »

(Reuters) – Florida-based Universal Insurance Holdings Inc on Tuesday forecast a gross loss of nearly $1 billion from Hurricane Ian, some of which will be covered by its reinsurance program. “To date, we’ve received approximately 18,000 claims, roughly half the number of Hurricane Irma claims received at this point,” the company said in a statement. …

Insurer Universal estimates nearly $1 billion loss from Hurricane Ian Read More »

WASHINGTON (Reuters) – Central banks’ fight against inflation may take another two years to play out, increasing unemployment and lowering living standards for many in the world, the International Monetary Fund’s chief economist said on Tuesday. In an interview with Reuters, IMF economic counselor Pierre-Olivier Gourinchas said that broad “core” inflation pressures beyond energy and …

IMF chief economist says central banks’ inflation fight to last into 2024 Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 and Nasdaq ended lower on Tuesday, with indications from the Bank of England that it would support the country’s bond market for just three more days adding to market jitters late in the session. Trading was volatile, with investors cautious ahead of key U.S. inflation …

S&P 500, Nasdaq end lower; BoE comments add to market jitters late Read More »

By Fergal Smith TORONTO (Reuters) – Canada’s main stock index fell on Tuesday to a 19-month low, tracking a fall in world markets, as worries about a global recession unnerved investors returning from a long weekend, with resource, technology and financial stocks among the big losers. The Toronto Stock Exchange’s S&P/TSX composite index ended down …

TSX hits 19-month low as global recession risk weighs Read More »

By David Shepardson WASHINGTON (Reuters) – The latest version of the U.S. Senate’s defense bill does not contain an amendment to extend a December deadline for Boeing Co to win regulatory approval for the 737 MAX 7 and MAX 10 jetliners, according to sources and documents seen by Reuters. Late last month, Republican Senator Roger …

U.S. Senate defense bill does not extend Boeing 737 MAX certification -sources Read More »