By Saeed Azhar, Niket Nishant and Lananh Nguyen NEW YORK (Reuters) – U.S. banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking. Four American banking giants — JPMorgan Chase & Co, Bank of America Corp, Citigroup …
U.S. banks get ready for shrinking profits and recession Read More »
(Reuters) -Goldman Sachs said on Tuesday it expects the euro zone economy to grow by 0.6% this year, compared with its previous forecast of a contraction, thanks to a fall in natural gas prices and the reopening of China’s borders. “We maintain our view that Euro area growth will be weak over the winter months …
Goldman Sachs no longer expects recession in euro zone in 2023 Read More »
LOS ANGELES (Reuters) – U.S. imports of goods in ocean shipping containers in December fell to levels approaching those last seen before the COVID-19 pandemic, a new report said on Tuesday. Demand for kitchen appliances, furniture, big-screen TVs, apparel and other retail goods softened late last year as record inflation bit into disposable income and …
U.S. imports of containerized goods retreat to pre-pandemic level Read More »
ATHENS (Reuters) -Greece’s economic growth is likely to slow to just 1.1% this year from a 5.1% clip in 2022 as soaring energy costs and continued uncertainty about the war in Ukraine hurt spending and investment, the OECD said on Tuesday. Since the lifting of COVID restrictions, the Greek economy has recovered strongly thanks to …
Greek economy to slow in 2023 as energy costs, Ukraine war hit spending -OECD Read More »
By Summer Zhen and Samuel Shen HONG KONG/SHANGHAI (Reuters) – Bridgewater has doubled its fund assets in China to more than 20 billion yuan ($2.93 billion) over the past year, according to two sources and government data, a feat that cements its position as the biggest foreign hedge fund in the country. The jump was …
Dalio’s Bridgewater cements rank in 2022 as top foreign hedge fund in China Read More »
By David Morgan and Moira Warburton WASHINGTON (Reuters) -The Republican-led U.S. House of Representatives on Monday adopted a package of internal rules that give right-wing hardliners more leverage over the chamber’s newly elected Republican speaker, Kevin McCarthy. Lawmakers voted 220-213 to approve the legislation. One Republican, Representative Tony Gonzales, joined all 212 Democrats in voting …
U.S. House adopts rules sought by hardliners to control McCarthy Read More »
(Reuters) – Microsoft Corp is said to be in talks to invest $10 billion into OpenAI, the owner of ChatGPT, Semafor reported on Monday, citing people familiar with the matter. The funding includes other venture firms and will value San Francisco-based OpenAI at $29 billion, the report said. OpenAI made the ChatGPT chatbot available for …
Microsoft in talks to invest $10 billion in ChatGPT owner -Semafor Read More »
By Kirsty Needham SYDNEY (Reuters) – The lawyer for former U.S. Marine Corps pilot Daniel Duggan said he was “singled out” for extradition to the United States to face charges of training Chinese military fliers, even though other Australians provided military services to foreign states. Australia’s attorney-general last month accepted an extradition request from Washington …
Ex U.S. Marines pilot arrested in Australia was ‘singled out’ – lawyer Read More »
By Karen Freifeld (Reuters) – Former New York Mayor Rudy Giuliani, who helped to amplify former President Donald Trump’s false claims about widespread fraud in the 2020 election, has been subpoenaed by federal prosecutors seeking documents about payments he received from Trump or his presidential campaign, a person familiar with the matter said on Monday. …
Trump ally Rudy Giuliani subpoenaed by federal prosecutors -source Read More »
(Reuters) -Beverage giants Coca-Cola Co and PepsiCo Inc are under preliminary investigation by the U.S. Federal Trade Commission (FTC) over potential price discrimination in the soft drink market, Politico reported on Monday citing sources. The pricing strategies of both companies are being scrutinized under the Robinson-Patman Act, the report said. The U.S. antitrust law prevents …
U.S. FTC probes Pepsi, Coca-Cola over price discrimination – Politico Read More »
