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Analysis-Liftoff: Modi’s space push for India counts on private players

By Nivedita Bhattacharjee BENGALURU (Reuters) -Encouraged by high-profile successes elsewhere, India wants its private space companies to increase their share of the global launch market by fivefold within the next decade – an effort boosted by the personal support of Prime Minister Narendra Modi. In the year after the country opened the way for private …

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Big US banks to pay billions to replenish failure fund

By Pete Schroeder WASHINGTON (Reuters) -Large U.S. lenders will bear most of the cost of replenishing a deposit insurance fund that was drained of $16 billion by the collapse of Silicon Valley Bank and two other lenders, although mid-sized banks will also be on the hook, the Federal Deposit Insurance Corporation (FDIC) said on Thursday. …

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U.S., China look to move beyond balloon incident to stabilize ties

By Steve Holland, Michael Martina and David Brunnstrom WASHINGTON (Reuters) -President Joe Biden’s national security adviser met China’s top diplomat this week and both sides recognized the need to move beyond an alleged spy balloon incident that caused a pause in relations between the superpowers, a senior U.S. official said on Thursday. The White House …

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Stocks, yields fall after data seen halting more Fed rate hikes

By Herbert Lash NEW YORK (Reuters) -A gauge of global stock performance slid on Thursday after U.S. jobless claims and a modest rise in producer prices suggested a slowing economy, which also pushed Treasury yields lower as it could allow the Federal Reserve to stop raising interest rates. The number of Americans filing new claims …

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U.N. urges halt to Sudan conflict as fighting rumbles on despite talks

KHARTOUM (Reuters) – The U.N. on Thursday urged countries with influence in Africa to help end the conflict in Sudan after reported progress in ceasefire talks between the army and the rival paramilitary Rapid Support Forces (RSF). Clashes rocked Halfaya, an entry point to the capital, early on Thursday as residents heard warplanes circling over …

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Dollar stronger as market rethinks monetary policy outlook

By Laura Matthews NEW YORK (Reuters) – The U.S. dollar rose against the euro and sterling on Thursday and set a more than one-week high against a basket of its major peers as traders sought safety after a series of economic data prompted a reassessment of their outlook for global monetary policy. The number of …

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Oil falls 2% on weak US and Chinese economic data

By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% to a one-week low on Thursday as a political standoff over the U.S. debt ceiling stoked recession jitters in the world’s biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic data weighed. Brent crude futures fell $1.43, or 1.9%, to settle …

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US lawmakers introduce bill to combat normalization with Syria’s Assad

By Daphne Psaledakis and Maya Gebeily WASHINGTON/BEIRUT (Reuters) -A bipartisan group of U.S. lawmakers introduced a bill on Thursday intended to bar the American government from recognizing Bashar al-Assad as Syria’s president and to enhance Washington’s ability to impose sanctions – a warning to other countries normalizing relations with Assad. The bill, first reported by …

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Insulin makers testify on Capitol Hill over prices

By Ahmed Aboulenein WASHINGTON (Reuters) – Leaders of major insulin makers and pharmacy benefit managers (PBMs) traded blame for the life-saving drug’s high price on Wednesday while testifying at a U.S. Senate committee hearing on making it more affordable. PBMs negotiate with drugmakers for rebates and lower fees on behalf of employers and other clients, …

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Shell shareholders urged by LAPFF to back climate activist’s resolution

By Shadia Nasralla LONDON (Reuters) – Shell shareholders should support a climate activist resolution at its annual general meeting and vote against the oil major on most counts, Britain’s Local Authority Pension Fund Forum (LAPFF) recommends in a report seen by Reuters. This follows announcements by the the Church of England Pension Board, proxy adviser …

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