Reuters USA

WASHINGTON (Reuters) – The U.S. Energy Department said Friday it has offered a conditional commitment to lend up to $700 million to Ioneer Rhyolite Ridge LLC to mine lithium carbonate for electric vehicle batteries in Nevada. The Rhyolite Ridge Lithium-Boron Project could potentially support production of lithium for approximately 370,000 EVs each year and reduce …

U.S. offers $700 million loan to EV battery material project Read More »

By Deena Beasley San Francisco (Reuters) – Drugmakers are prioritizing complex biotech medicines over treatments that can be given as pills because recent U.S. legislation gives biologics a longer runway before becoming subject to government price limits, top industry executives said this week. The Inflation Reduction Act (IRA), which Democrats passed last August, for the …

Drug companies favor biotech meds over pills, citing new U.S. law Read More »

(Reuters) -UnitedHealth Group Inc beat Wall Street expectations for fourth-quarter profit on Friday, as lesser COVID-related expenses kept a check on medical costs at its health insurance business. Health insurers’ costs have been in flux during the pandemic, but have eased over the past year as COVID-related hospitalizations have fallen from their peak. UnitedHealth’s medical …

UnitedHealth profit beats on lower medical costs as COVID eases Read More »

By Noor Zainab Hussain and Hannah Lang (Reuters) -Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter, missing analysts’ estimates, as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown. The …

Wells Fargo misses profit estimate on higher reserves, scandal costs Read More »

By Naomi Rovnick LONDON (Reuters) – Central bank rate rises could land global borrowers with $8.6 trillion in extra debt servicing costs in coming years, S&P Global estimated on Friday, warning of a slowdown in economic activity as a result. Major central banks have delivered a record 2,700 basis points of rate hikes in 2022 …

Rate rises could add $8.6 trillion to global borrowing costs -S&P Read More »

By Jorgelina do Rosario LONDON (Reuters) -Developing countries have sold a huge $39 billion of international bonds since the start of the year, with investors happy to pile into riskier debt as they bet global interest rates are nearing a peak. The first half of January saw 11 countries launch more than 20 dollar- and …

Investors snap up record $39 billion emerging market sovereign bond splurge Read More »

By Maria Martinez and Paul Carrel BERLIN (Reuters) -German economic output stagnated in the final quarter of 2022 and grew 1.9% over the full year, adding to signs that Europe’s largest economy may dodge a recession, at least over the winter. The full-year rise in gross domestic product reported by German statistics office Destatis on …

German economy likely stagnated in Q4, escaping recession for now Read More »

LONDON (Reuters) -Investors poured money into equity and bond funds and moved money out of gold in the week to Wednesday, according to BofA Global Research, taking heart from a string of positive data points and policy changes. “You don’t get more Goldilocks than that,” the report said of Thursday numbers that showed U.S. consumer …

Investors jump into equities and bonds in Goldilocks scenario – BofA Read More »

By Carolina Mandl NEW YORK (Reuters) – Goldman Sachs Investment Strategy Group expects U.S. equities to generate positive returns for investors in 2023 even if the economy enters a recession, according to its outlook report released on Friday. The bank’s wealth management team expect the benchmark S&P 500 to end 2023 at between 4,200 and …

Goldman Sachs’ investment team bullish on equities -report Read More »

(Reuters) – U.S. bond funds attracted their biggest weekly inflow in 18 months in the seven days to Jan. 4 on signs of cooling inflation that boosted hopes the Federal Reserve might scale back the size of its interest rate hikes. Refinitiv Lipper data showed U.S. bond funds attracted a net $10.52 billion worth of …

U.S. bond funds saw biggest weekly inflow in 18 months in early Jan Read More »