By Ben Klayman and Joseph White (Reuters) – Tesla CEO Elon Musk’s “super bad feeling” about the economy could be the auto industry’s “canary in the coal mine” moment, signaling a recession for an industry whose bosses have shown no signs of concern. Musk said the electric carmaker needed to cut about 10% of its …
Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment Read More »
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan GDP growth will slow to 5% for the upcoming fiscal year beginning on July 1, from 5.9% in the outgoing year, following budgetary tightening aimed at winning International Monetary Fund (IMF) support, the government said on Saturday. The planning ministry made the estimates ahead of the annual budget …
Pakistan expects GDP growth to slow to 5% amid fiscal consolidation Read More »
(Reuters) -Russian Foreign Minister Sergei Lavrov on Saturday said Western sanctions would have no effect on the country’s oil exports and predicted a big jump in profits from energy shipments this year. “Considering the price level that has been established as a result of the West’s policies, we have suffered no budgetary losses,” the foreign …
Moscow expects big jump in profits from energy exports in 2022 Read More »
By Sinéad Carew, Devik Jain and Anisha Sircar (Reuters) – Wall Street’s three major stock indexes ended lower on Friday after a solid jobs report ate in to hopes for a pause in the Federal Reserve’s aggressive policy-tightening which is needed to cool decades-high inflation. The technology-heavy Nasdaq led the declines, falling 2.5% as shares …
Wall St ends down with strong jobs data keeping the pressure on for rate hikes Read More »
By Akash Sriram and Divya Rajagopal (Reuters) -Rogers Communications Inc on Friday asked a tribunal to scrap Canada competition bureau’s rejection to its C$20 billion ($15.9 billion) purchase of Shaw Communications Inc, arguing the merger would create more competition rather than stifle it. Calling the opposition to the deal “unreasonable”, Rogers said the bureau had …
Rogers asks tribunal to scrap Canada competition bureau’s rejection of Shaw takeover Read More »
By Siddharth Cavale BENTONVILLE, Ark. (Reuters) -Senior Walmart Inc executives said on Friday some suppliers have been responding to the largest U.S. retailer’s efforts to lower prices despite their own struggles with high inflation, material and labor costs. Investors have questioned Walmart’s ability to ask suppliers to offer price reductions when they too are focused …
Walmart says some suppliers working with retailer to cut prices Read More »
BUENOS AIRES (Reuters) – Analysts consulted by Argentina’s central bank raised their inflation estimate for the South American country for 2022 to 72.6%, 7.5 percentage points above the previous month’s forecast, according to a monthly survey published Friday. Meanwhile, inflation for the month of May was expected to have been at 5.2%, according to the …
Analysts raise Argentina 2022 inflation forecast to 72.6% – central bank Read More »
By Chinekwu Osakwe (Reuters) – Goodwin Procter said Friday that it has hired two private equity partners for its Washington, D.C., and Santa Monica, California, offices. Andrew Kimball joined the firm in the nation’s capital from Kirkland & Ellis. Andrew Cheng, who spent more than 18 years at Gibson Dunn & Crutcher, has joined in …
Goodwin hires two private equity partners in DC, California Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) -Shareholder advisory firm Glass Lewis on Friday recommended Spirit Airlines investors approve Frontier Group Holdings Inc’s $2.9 billion takeover bid, saying it was the “best available” at this time. The report, which helps guide investors on how to vote on the proposed merger, comes only hours after Frontier said it …
Spirit shareholders should approve Frontier deal, Glass Lewis says Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -Speculators’ net long bets on the U.S. dollar fell to a five-week low, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $14.71 billion for the week ended May 31. Last week, speculators’ …
Speculators cut net long bets on U.S. dollar -CFTC, Reuters Read More »
