By Ann Saphir JACKSON HOLE, Wyoming, Aug 31 (Reuters) – Imagine a world where AI-powered trading is so prevalent, fast and effective that the Federal Reserve must give two news conferences, one for humans and another for machines, to avoid humans being completely shut out of responding to shifts in
SYDNEY, Aug 31 (Reuters) – Some ground crew at Australia’s largest airline, Qantas Airways, on Monday voted overwhelmingly in favour of strike action over pay and job conditions. The Transport Workers Union said 97% of 350 workers who voted backed industrial action, including work stoppages ranging
(AP) – Treasury Secretary Scott Bessent is bringing a message of economic growth, energy independence, and financial stability to the world’s largest economies this week, as the United States works to strengthen its position on trade, national security, and global debt. Bessent is hosting meetings o
By Summer Zhen HONG KONG, Aug 31 (Reuters) – Shares of online fast-fashion retailer Shein slumped more than 10% in gray-market trading on Monday, one day ahead of its Hong Kong Stock Exchange debut. The company raised $1.7 billion at HK$48.56 a share, valuing it at about $26.5 billion, according to
BANGKOK (AP) — Shares were mixed in Europe and Asia and U.S. futures declined Monday on expectations that the U.S. Federal Reserve may raise interest rates soon. In early European trading, Germany’s DAX lost 0.9% to 26,339.04, while the CAC 40 in Paris edged 0.1% lower, to 8,390.43. Markets in Brita
HONG KONG (AP) — China’s factory activity improved marginally in August as export demand remained robust, though overall manufacturing still was in a contraction. China’s official manufacturing purchasing managers’ index, or PMI, recovered slightly to 49.8 in August from 49.2 in July, according to t
By Phoebe Seers LONDON, Aug 31 (Reuters) – Financial Stability Board Chair Andrew Bailey said on Monday that the impact of AI on cyber risk was the most immediate concern for the global financial system, saying the technology could change the speed, scale and economics of an attack. The FSB is a glo
ASHEVILLE, N.C. (AP) — Treasury Secretary Scott Bessent wants to rally the world’s largest economies this week at a time when the United States has disrupted the international order with aggressive tariffs on major allies and an unpopular war on Iran is keeping gas prices high for consumers. As Bess
KOROR, Palau (AP) — Far from New York or Davos, leaders of some of the world’s least populous states are meeting in a placid tropical archipelago with no traffic lights. The population of the summit host, Palau, was due to swell from 18,000 people to 20,000 as delegates from dozens of countries arri
By John O’Donnell and Maria Rugamer MUNICH, Aug 31 (Reuters) – German drone maker Quantum Systems gained an early foothold in the United States with help from CIA-linked investor In-Q-Tel (IQT), its co-CEO said, highlighting how U.S. capital and networks continue to shape Europe’s emerging defence c
By David Lawder and Leika Kihara ASHEVILLE, North Carolina, Aug 30 (Reuters) – U.S. Treasury Secretary Scott Bessent brushed aside concerns about turbulence in the U.S. government bond market, arguing that worries about rising debt and yields overlook the strength of the U.S. economy and its fiscal
A look at the day ahead in European and global markets from- Wayne Cole. The week started with a bang in Iran as U.S. forces struck two missile launchers on Larak island in the Strait of Hormuz, while Tehran attacked U.S. forces in Jordan. Not helping was a post from President Trump that Kharg Islan
Aug 31 (Reuters) – Barclays expects the U.S. Federal Reserve to raise interest rates by 25 basis points in September and again in December after Chair Kevin Warsh’s latest remarks signalled a more hawkish stance, the brokerage said on Friday. Warsh told the Federal Reserve’s Jackson Hole symposium o
(AP) – U.S. forces have carried out a limited strike against Iranian rocket launchers near the Strait of Hormuz, targeting what American officials described as an imminent threat to civilian shipping and international commerce. The operation, conducted Sunday, was the first confirmed U.S. military a
By Daniel Leussink and Maki Shiraki TOKYO, Aug 31 (Reuters) – U.S. President Donald Trump is targeting Ottawa with a proposed 50% tariff on Canadian car imports — but Japan’s Toyota and Honda may end up footing the bill. The two Japanese automakers account for more than three-quarters of all cars ma
TAIPEI, Aug 31 (Reuters) – The U.S.-Taiwan relationship has “never been stronger” and Taiwan is helping to re-industrialise the United States with its tech investments, the top American diplomat in Taipei said on Monday. While the U.S., like most countries, has no formal diplomatic relations with Ch
By Julie Zhu and Sophie Yu HONG KONG/BEIJING, Aug 31 (Reuters) – China’s three biggest state-owned airlines reported first-half losses for the seventh consecutive year, battered by surging jet fuel prices, with the outlook for the rest of the year clouded by a lacklustre summer season. Air China, Ch
By Wayne Cole SYDNEY, Aug 31 (Reuters) – Share markets slid on Monday in Asia as fresh fighting broke out between the U.S. and Iran, lifting oil prices, while bond yields stayed elevated after investors narrowed the odds on a U.S. rate hike. Brent futures climbed 2.8% to $90.60 a barrel after U.S. f
WASHINGTON (AP) — The U.S. Treasury Department is preventing certain journalists from covering a finance meeting among the world’s most powerful countries, the latest example of how President Donald Trump’s administration has restricted media access. Individual reporters from The New York Times, The
ASHEVILLE, N.C. (AP) — President Donald Trump’s administration plans to impose sanctions on another bank this week as it intensifies efforts to economically isolate Iran, U.S. Treasury Secretary Scott Bessent told The Associated Press on Sunday. “This is going to be financial violence if we have to,
By David Lawder ASHEVILLE, North Carolina, Aug 30 (Reuters) – U.S. Treasury Secretary Scott Bessent said on Sunday he will encourage G20 members to re-examine terms of trade with China to shrink global imbalances and press Beijing to rebalance its economy away from exports and toward domestic consum
By David Lawder and Leika Kihara ASHEVILLE, North Carolina, Aug 30 (Reuters) – U.S. Treasury Secretary Scott Bessent said recent yen moves were “pretty well contained,” suggesting the Japanese currency’s renewed slides were not seen as the kind of disorderly moves that led to a rare joint Japan-U.S.
By Florence Tan SINGAPORE, Aug 31 (Reuters) – Oil prices were trading more than 2% higher on Monday after the U.S. attacked an Iranian island in the Strait of Hormuz and drew retaliation from Tehran, as conflict in the Middle East extended into its sixth month. Brent crude futures climbed $2.51, or
NEW YORK (AP) — Three years after Warner Bros. abruptly canned “Coyote vs. Acme,” the Looney Tunes feature film that was given a new lease on life by Ketchup Entertainment debuted with an estimated $15.5 million in ticket sales over the weekend. For the fifth weekend in a row, “Spider-Man: Brand New
Aug 30 (Reuters) – Aon Plc is close to an agreement to acquire insurance brokerage USI Insurance Services from private equity firm KKR for about $17 billion, including debt, the Wall Street Journal reported on Sunday, citing people familiar with the matter. The deal could be announced as early as Mo
By David Lawder ASHEVILLE, North Carolina, Aug 30 (Reuters) – U.S. Treasury Secretary Scott Bessent faces a major test of his economic diplomacy skills this week as he presses finance leaders from the G20 major economies to shrink global trade imbalances, boost growth and sever business ties to Iran
By Iain Withers, Elisa Martinuzzi and Lefteris Papadimas LONDON, Aug 30 (Reuters) – Canadian Prime Minister Mark Carney has thrown his weight behind a new global defence bank intended to help allies rearm, but other major economies have yet to commit just weeks before prospective members are due to
NEW YORK (AP) — As the U.S. and Israel relentlessly bombed Iran in the opening days of war, the most dramatic predictions of the conflict’s toll were unsparing: surging oil prices, worldwide recession and economic catastrophe. But six months into the conflict, the direst predictions haven’t come tru
August can be a dreary month for Hollywood glamour, but the Venice Film Festival is on the horizon to kick off the busy fall film festival season in style. There will be plenty of stars gracing the red carpets when the 83rd edition of the festival kicks off Wednesday on the Lido: Noel and Liam Galla
By Balazs Koranyi, Howard Schneider and Ann Saphir JACKSON HOLE, Wyoming, Aug 30 (Reuters) – Europe’s central bankers are leaving an annual getaway with their U.S. counterparts far from reassured that long-standing norms in global cooperation remain intact and worried that more turmoil is ahead for
