Reuters USA

By Brendan O’Brien (Reuters) – Los Angeles-area investigators have found no connection between the victims of a mass shooting at a Monterey Park, California, dance hall and the elderly man who carried out the massacre last weekend, authorities said. The 72-year-old assailant, Huu Can Tran, on Saturday killed 11 people and wounded nine others at …

California authorities see no link between dance hall shooter and victims Read More »

By Niklas Pollard STOCKHOLM (Reuters) -Swedish banking group SEB beat fourth-quarter net profit forecasts on Thursday on higher interest income after central bank rate hikes and trading gains, prompting it to boost its proposed dividend. Surging inflation, in part due to the energy crisis stemming from the war in Ukraine, has seen central banks crank …

SEB beats profit forecasts helped by trading income, hikes dividend Read More »

ISTANBUL (Reuters) -Turkey’s central bank said on Thursday it would provide foreign exchange conversion support to companies that bring in foreign currency from abroad, including exporters and tourism firms. Firms can benefit from a 2% discount as conversion support when converting foreign currency from abroad if they pledge not to buy foreign currency for a …

Turkish central bank to provide support to firms that convert forex from abroad Read More »

NEW YORK (Reuters) – The U.S. economy kept up a strong pace of growth in the fourth quarter, but momentum appears to have slowed considerably towards year-end, with higher interest rates eroding demand. Gross domestic product increased at a 2.9% annualized rate last quarter, the Commerce Department said in its advance fourth-quarter GDP growth estimate …

U.S. GDP grows in fourth quarter; weekly jobless claims fall Read More »

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy grew faster than expected in the fourth quarter as consumers maintained a solid pace of spending, but momentum had slowed significantly by the end of the year, with higher interest rates eroding demand. The Commerce Department’s advance fourth-quarter gross domestic product report on Thursday also showed …

U.S. economic growth beats expectations; weekly jobless claims fall Read More »

By Tom Balmforth and Dan Peleschuk KYIV (Reuters) -Russia pounded Ukraine with missiles during the morning rush hour on Thursday, killing at least one person in Kyiv and damaging energy infrastructure in the Black Sea region of Odesa, officials said. Crowds of people took cover in the capital’s metro stations during a nationwide air alert …

Russian missile attack kills one in Kyiv, damages power grid Read More »

By Abhirup Roy and Kevin Krolicki (Reuters) -Elon Musk has a playbook for Tesla headed into what he believes will be a “serious” recession: cut costs on everything from parts to logistics, while keeping the pressure on competitors with discounted sticker prices. In a conference call to discuss Tesla’s fourth-quarter results, Musk and other executives …

Musk outlines Tesla’s recession playbook: claw back costs Read More »

By Aishwarya Nair and Abhijith Ganapavaram (Reuters) -U.S. carriers on Thursday gave strong earnings forecasts for the year despite economic worries after buoyant demand for air travel during the crucial holiday season helped lift quarterly results. Major airlines are trying to cash in on a travel boom since the pandemic eased its grip on the …

U.S. airlines forecast strong 2023 earnings as travel boom drives demand Read More »

By Anne Kauranen HELSINKI (Reuters) – Finnish elevator-maker Kone said on Thursday it would slash up to 1,000 jobs globally to cut costs and it expects demand to pick up in its main market China and elsewhere in Asia this year. The cuts will be part of an organisational restructuring and will save 100 million …

Elevator-maker Kone to axe 1,000 jobs, sees recovery in Asia Read More »