Reuters US Business

Factbox-What is Jane Street, the US trading firm facing heat in India?

4 Jul 2025

By Jayshree P Upadhyay MUMBAI (Reuters) -India has barred one of the world’s largest quant trading firms, Jane Street, from accessing its securities market after an investigation found it made “unlawful gains”, taking the most stringent action ever against a foreign trading firm. The markets regulator also impounded $567 million from U.S.-based Jane Street, which …

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China navigates delicate US truce while affirming trade consensus

4 Jul 2025

BEIJING (Reuters) -The Chinese commerce ministry said on Friday that Beijing and Washington had stepped up efforts to implement what they had agreed during recent trade talks but cautioned the U.S. against destabilising their “hard-won” consensus. China hopes the U.S. can continue to meet it half way and maintain the stability of bilateral trade and …

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End of tax-free loophole for low-value goods disrupts air shipments to US from China

4 Jul 2025

By Casey Hall and Lisa Barrington SHANGHAI/SEOUL (Reuters) -Air cargo shipment volume from Asia has declined by double digits since the U.S. cancelled a tax-free exemption for low-value packages from China early in May, trade groups and analysts said. Air cargo demand from Asia to North America declined 10.7% in May versus the same month …

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Australia’s PM says he expects 10% US baseline tariff to stay

4 Jul 2025

SYDNEY (Reuters) -Australia will likely still be subjected to the 10% tariff rate on all exports to U.S. but the government will continue to try and negotiate for an exemption, Australian Prime Minister Anthony Albanese said on Friday. A 90-day pause in the U.S. “reciprocal” tariffs are set to expire early next week, with President …

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Japan’s heat-stressed matcha tea output struggles to meet soaring global demand

4 Jul 2025

By Michele Pek UJI, Japan (Reuters) -Matcha lovers, brace your wallets! Record temperatures in Japan have curbed matcha green tea production this year, straining supplies and driving prices to all-time highs amid booming global demand for the trendy beverage, farmers and industry officials said. The Kyoto region, which accounts for about a quarter of Japan’s …

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Arbitrators in Exxon, Hess dispute over Chevron deal have reached a decision, sources say

4 Jul 2025

By Sheila Dang HOUSTON (Reuters) -The arbitrators in a legal dispute between Exxon Mobil and Hess have reached a decision related to a major oilfield project in Guyana, according to two sources familiar with the matter. The ruling will determine whether Chevron can move forward with its $53 billion planned acquisition of Hess. The Paris-based …

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RBA expected to cut rates for third time on July 8 as economy slows: Reuters poll

4 Jul 2025

By Devayani Sathyan BENGALURU (Reuters) -Easing inflation and a slowing economy will prompt the Reserve Bank of Australia to ease policy more than predicted in May, according to a Reuters poll of economists who expect the central bank to deliver a third 25 basis point rate cut on Tuesday. Financial markets and economists had previously …

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Global coffee supply relief possible in three years, ICO head says

4 Jul 2025

By Roberto Samora CAMPINAS, Brazil (Reuters) -Global coffee supply could improve in three years as new plantations spurred by record high prices start producing, International Coffee Organization (ICO) Executive Director Vanusia Nogueira said on Thursday at an event in Brazil. The outlook, however, depends on market conditions remaining favorable enough for farmers to maintain their …

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S&P 500, Nasdaq close at records on jobs data; Nvidia market cap nears $4 trillion

4 Jul 2025

By Sabrina Valle NEW YORK (Reuters) -Wall Street rallied on Thursday to record closing highs, as chipmaker Nvidia rose closer to a $4 trillion valuation and a surprisingly strong U.S. jobs report cheered investors, who shrugged off dimming chances for an interest rate cut this month. The S&P 500 and Nasdaq closed at record highs, …

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