By Davide Barbuscia NEW YORK, Dec 10 (Reuters) – The Federal Reserve’s move to expand its balance sheet again by buying Treasury bills is expected to ease money-market strains, calming investor worries that years of bond-portfolio runoff had drained too much liquidity from the financial system. The Fed said on Wednesday it would start buying…
Dec 11 (Reuters) – Costco Wholesale beat Wall Street estimates for first-quarter revenue on Thursday, on the back of resilient demand from consumers across income groups amid rising economic uncertainty. Surging inflation and a weak job market have been pushing shoppers to trade down and hunt for bargains on everything from essentials such as groceries to…
BEIJING, Dec 11 (Reuters) – Chinese leaders promised on Thursday to maintain a “proactive” fiscal policy next year that would stimulate both consumption and investment to maintain high economic growth, which analysts expect Beijing to target at roughly 5%. Those pledges were published in a readout by state news agency Xinhua of the annual Central…
By Abhirup Roy SAN FRANCISCO, Dec 11 (Reuters) – Tesla’s U.S. sales dropped to a near four-year low in November, despite the automaker’s rollout of new, cheaper versions of its best-selling electric vehicles, estimates from Cox Automotive given exclusively to Reuters showed on Thursday. Making a success of the more affordable variants, called Standard, is…
By Laurie Chen, Joyce Zhou and Jessie Pang HONG KONG, Dec 5 (Reuters) – Turnout is likely to be low for Hong Kong’s “patriots only” legislative election on Sunday with subdued campaigning as the population reels from the city’s deadliest blaze in decades, which has killed 159 people. Volunteers tentatively handed out flyers and hung…
By Kumar Tanishk and Adwitiya Srivastava Dec 5 (Reuters) – NEXTDC Ltd said on Friday it inked a memorandum of understanding with ChatGPT maker OpenAI to collaborate on the development of a hyperscale AI campus and graphics processing unit supercluster in Sydney, boosting its shares. Shares of the Queensland-headquartered data centre operator rose as much…
By Brendan O’Boyle and Aida Pelaez-Fernandez MEXICO CITY, Dec 3 (Reuters) – Mexico on Wednesday announced it would boost the minimum wage next year and push to trim the country’s long work week, the latest moves by the country’s leftist administration aimed at helping workers in Latin America’s second-largest economy. Starting in January, the minimum…
By David Milliken LONDON, Dec 3 (Reuters) – The U.S. dollar’s status as a global reserve currency could be undermined by the country’s reduced support for its friends and military allies, Bank of England policymaker Catherine Mann said on Wednesday. “If you can’t depend on a certain country to be your ally, then why are…
By Foo Yun Chee and Inti Landauro BRUSSELS, Dec 2 (Reuters) – Apple can be sued in a Dutch court for antitrust damages, Europe’s highest court said on Tuesday, backing two foundations seeking potentially hundreds of millions of euros in compensation for users affected by the iPhone maker’s alleged anti-competitive conduct related to its App…
By David Shepardson WASHINGTON, Dec 1 (Reuters) – The U.S. Senate Commerce Committee said on Monday it plans to hold a December 8 vote on President Donald Trump’s nomination of Jared Isaacman, the private astronaut and ally of billionaire SpaceX founder Elon Musk, for the post of NASA administrator. Isaacman’s nomination was withdrawn in June…
