UNITED NATIONS (AP) — The United States has demanded that Cuba open up to private investment, and Cuba has passed sweeping reforms to encourage just that. So Cuba’s U.N. ambassador says he wants to know why Washington keeps piling on sanctions that stymie the very economic opening it has sought for
Aug 21 (Reuters) – U.S. investors were net buyers of equity funds for a second straight week through August 19, supported by a strong earnings season and cooler inflation data, even as a bond-market selloff and rising oil prices weighed on markets. Investors bought a net $11.72 billion of U.S. equit
NEW YORK (AP) — Book lovers this fall can look forward to a wealth of fiction, biographies, memoirs, poetry collections and topical nonfiction. Here are five upcoming works you’ll likely be hearing about. Marlon James’ fantasy series “Dark Star” was a showcase for his extraordinary and boundless ima
NEW YORK (AP) — Midterm election news will fill the headlines this fall, but, among book buyers, fiction will likely have top billing. Former President Joe Biden’s “Promise Me, America” stands out not just as a White House memoir — presidential memoirs are events unto themselves — but as a rare high
BEIJING, Aug 21 (Reuters) – Tesla will roll out software fixes for millions of vehicles in China, the country’s market regulator said on Monday, marking the automaker’s largest-ever recall in the market. Effective September 25, Tesla will recall 2.98 million China-made and imported Model 3, Model Y,
By Lucinda Elliott and Elizabeth Howcroft MONTEVIDEO/PARIS, Aug 21 (Reuters) – Uruguay seemed like the perfect place for cryptocurrency giant Tether to launch a bitcoin mining operation. The company, which has issued nearly two thirds of all stablecoins in circulation, picked this still largely agri
By Anna Szymanski Aug 21 (Reuters) – From the Editor I was reminded this week of the famous quip from Democratic political strategist James Carville: “I would like to come back as the bond market. You can intimidate everybody.” He may have said this more than three decades ago, but the Trump adminis
TEHRAN, Iran (AP) — Tehran’s grocery stores are well-stocked, but many families can barely afford the basics. Unemployment is soaring and those with jobs are working more hours for money worth half as much as a year ago, putting food, medicine and everything else — except for heavily subsidized gaso
By Avinash P and Purvi Agarwal Aug 21 (Reuters) – The main U.S. indexes were set for a recovery on Friday after a pummeling in the previous session, though markets remained on track to end the week in the red as surging government bond yields and geopolitical tensions dampened risk appetite. The S&P
Aug 21 (Reuters) – The U.S. National Highway Traffic Safety Administration said on Friday it has opened a probe into 997,743 General Motors pickup trucks and SUVs over concerns related to engine failure. The vehicles include the Cadillac Escalade, Chevrolet Silverado 1500 and GMC Yukon, among others
By Laura Matthews NEW YORK, Aug 21 (Reuters) – Nvidia’s earnings report and the Federal Reserve’s Jackson Hole symposium will test the assumptions behind this year’s stock market rally, offering clues on whether the AI-driven surge in equities can withstand rising uncertainty over growth and interes
By Gertrude Chavez-Dreyfuss NEW YORK, Aug 21 (Reuters) – The wave of debt issuance funding the artificial-intelligence buildout is testing the limits of investor demand, with some large bond buyers warning that the market is showing signs of indigestion. While fund managers remain comfortable with t
By Juveria Tabassum and Anuja Bharat Mistry Aug 21 (Reuters) – Walmart’s disappointing sales and Home Depot’s strength among budget-conscious do-it-yourselfers indicate middle-class American consumers are growing more tight-fisted, even as wealthier shoppers have kept supporting luxury brands like R
Aug 21 (Reuters) – UBS Global Wealth Management raised its year-end target for the S&P 500 index to 8,100, citing a stronger earnings outlook and confidence in sustained profit growth through next year. The wealth management arm of UBS Bank, UBS Global Wealth Management is the newest addition to a g
Aug 21 (Reuters) – Australian insurance broker Steadfast Group said on Friday it has agreed to a A$7.7 billion ($5.51 billion) takeover offer by a U.S. consortium backed by investment firm KKR. As part of the proposal, insurance distributor Amwins Group will acquire Steadfast’s underwriting agency o
Aug 21 (Reuters) – Ross Stores’ shares surged nearly 9% in premarket trading on Friday, after the value retailer raised annual guidance and projected quarterly sales growth above analyst expectations, signalling bargain-hunting demand despite a shaky economic backdrop. Shares were last up 8.6% at $2
By Karen Brettell NEW YORK, Aug 21 (Reuters) – The U.S. Treasury’s move to expand purchases of older long-dated bonds has revived a familiar worry in foreign-exchange markets: if Washington will not let borrowing costs rise, will the dollar end up absorbing the adjustment instead? On Wednesday, Trea
BEIJING, Aug 21 (Reuters) – A court in China’s Guangzhou has accepted the bankruptcy liquidation case of Hengda Real Estate Group, the mainland property unit of China Evergrande Group, according to a court statement on Friday. The Guangzhou Intermediate People’s Court said the application for liquid
Aug 21 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. So, it took only a day for the “Bessent Bid” to turn into a sell signal. Thirty-year yields have backed up to 5.25% and are almost where they were before Treasury Secretary Scott Bessent intervened in the free
TUSCALOOSA, Ala. (AP) — An Alabama jury on Thursday awarded $9.25 million in damages after finding that The New York Times defamed a college basketball player by incorrectly reporting that he was at the scene of a fatal shooting in Tuscaloosa. Kai Spears, who played for the University of Alabama men
SEOUL, Aug 21 (Reuters) – Samsung Electronics plans to hold a board meeting on Friday afternoon to discuss a new shareholder return package, a person familiar with the matter told Reuters, after media reports said the plan could be worth more than $70 billion. The source did not give details, but sa
By Alasdair Pal SYDNEY, Aug 21 (Reuters) – Australia’s transport safety regulator said on Friday it had launched an investigation into a fourth incident involving air traffic control at Sydney airport in less than a month after two planes were directed towards the same intersection on the ground. A
By Hyunjoo Jin SEOUL, Aug 21 (Reuters) – Hyundai Motor’s South Korean union staged its first full strike in a decade on Friday after wage talks stalled, as it seeks a higher retirement age and job protections against artificial intelligence and automation. Striking workers from Hyundai Motor, affili
Aug 21 (Reuters) – Mexican-themed fast-food chain Guzman y Gomez reported a roughly 30% jump in annual profit on Friday, helped by higher network sales in Australia, sending its shares to their highest level in nearly one year. Network sales in the Australia segment, which includes Singapore and Jap
SINGAPORE, Aug 21 (Reuters) – Oil prices fell slightly on Friday, but were on track for a second weekly rise as the stalemated U.S.-Iran war continues to disrupt supply from the key Middle East producing region. Brent crude futures fell 23 cents, or 0.3%, to $93.55 a barrel by 0142 GMT, after climbi
By Cynthia Kim, Jihoon Lee and Yena Park SEOUL, Aug 21 (Reuters) – It was a vision to give South Korea a stock market that reflected its true economic dynamism, by shedding regulatory taboos and encouraging bolder bets – instead, it created an investor trauma that could take years to shake. The 30%
By Rae Wee SINGAPORE, Aug 21 (Reuters) – The dollar was on shaky ground and set for a weekly loss on Friday, as investors viewed the U.S. Treasury’s bond buyback gambit as merely a temporary fix, while raising fresh concerns about officials’ increasingly interventionist approach. U.S. Treasury Secre
By Wayne Cole SYDNEY, Aug 21 (Reuters) – Most Asian share indices were heading for weekly falls on Friday as stress in global bond markets showed little sign of abating, while a diplomatic deadlock in the Gulf lifted oil prices to one-month highs and kept inflation risks to the fore. Yields on U.S.
Aug 21 (Reuters) – Gold held steady on Friday but was on track for a third straight weekly gain, buoyed by a weaker dollar and U.S. Treasury Department efforts to hold down longer-term yields. FUNDAMENTALS * Spot gold was little changed at $4,514.23 per ounce, as of 0031 GMT, after hitting its highe
By Leika Kihara TOKYO, Aug 21 (Reuters) – Japan’s core consumer inflation accelerated in July from a year earlier as firms passed on rising import costs from a weak yen and the U.S.-Israeli war with Iran, data showed on Friday, bolstering the case for an interest rate hike from the central bank. The
