Aug 20 (Reuters) – Federal Reserve Bank of San Francisco President Mary Daly said on Thursday she’s not ready to judge how the Treasury Department’s moves to manage debt issuance will affect the central bank’s work, as she flagged the importance of getting inflation back to 2%. Asked on Bloomberg’s
By Selena Li HONG KONG, Aug 20 (Reuters) – Fidelity International (FIL) plans to exit its wholly owned China fund unit, two people familiar with the matter said, marking one of the biggest retreats by a global asset manager from the world’s second-largest economy. London-headquartered FIL, which ma
By Avinash P and Purvi Agarwal Aug 20 (Reuters) – U.S. stock index futures were largely subdued on Thursday as government bond yields rebounded after a respite earlier in the week, while markets assessed Walmart’s earnings. The retail bellwether dropped 5.8% in premarket trading after missing Wall S
By Juveria Tabassum and Nicholas P. Brown Aug 20 (Reuters) – Walmart missed quarterly comparable sales expectations for the first time in at least five years on Thursday as shoppers pulled back on spending in the face of rising gas prices, sending its shares down 6% in premarket trading. The world’s
Win or lose, the North Carolina Tar Heels already will be in elite company when they kick off the college football season against Texas Christian University in a game played in Dublin. They will be among a small but growing number of athletic programs receiving taxpayer funding from their home state
Aug 20 (Reuters) – Shein aims to launch its Hong Kong initial public offering on Monday, according to a source familiar with the matter, and is targeting a listing on September 1, two other sources said, slightly later than previously planned. While September 1 is the target date, the listing could
By Mike Dolan Aug 20 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets Buybacks to the rescue? The surprising move by the U.S. Treasury to double the amount of bond buybacks in the two months before the midterm elections steadied the shaky
Aug 20 (Reuters) – Deere, the world’s largest farm equipment manufacturer, raised its full-year net income forecast on Thursday, after robust demand for small tractors and construction equipment helped the company post its first rise in quarterly profit in nearly three years. Rising U.S. government
By Caroline Valetkevitch NEW YORK, Aug 20 (Reuters) – S&P 500 companies are winding up a banner quarterly earnings season, fueled in large part by surging profits at AI-related companies. The S&P 500 is on track for a 52% surge in aggregate second-quarter earnings from the year before, helped by a 7
By Karl Plume CHICAGO, Aug 20 (Reuters) – U.S. Senate Democrats asked the Department of Agriculture late on Wednesday to explain what caused the agency to vastly overstate beef export sales last month and what role department staff losses played in the mistake. Six senators, led by Amy Klobuchar, a
By Nicholas P. Brown and Juveria Tabassum NEW YORK, Aug 20 (Reuters) – Target’s bet on groceries helped drive its fastest growth in that business in three years, but a lasting turnaround hinges on whether it can persuade shoppers who come for milk and snacks to buy higher-margin goods elsewhere in t
By Sarah El Safty and Naveen Thukral DUBAI/SINGAPORE, Aug 20 (Reuters) – Global wheat importers are bracing for tighter supplies as attacks on Black Sea grain infrastructure disrupt shipments, heightening food security risks for top buyers such as Egypt and Indonesia, while driving up prices. Benchm
HONG KONG (AP) — Chinese property developer Hui Ka Yan, founder of the Evergrande real estate group, has been sentenced to life in prison and the companies were fined a total of more than $2 billion, a court in the southern city of Shenzhen said Thursday. The decision marks a milestone in Evergrande
HONG KONG (AP) — European shares opened lower on Thursday after an advance in Asia, where South Korea’s benchmark Kospi jumped nearly 6%. U.S. futures edged lower after the U.S. Treasury Department said it would at least double the size of planned purchases of longer-term government debt. That could
HONG KONG (AP) — Hong Kong conglomerate CK Hutchison said Thursday it was seeking more than $1.5 billion in damages from Panama after the country seized two canal ports caught in the crosshairs of U.S.-China tensions. CK Hutchison said in the statement that it had begun new arbitration proceedings a
WASHINGTON (AP) — Prince Harry urged communities to better apply service members’ skills when they return to the workforce during an intimate gathering with U.S. veterans Wednesday night. “The world needs more heroes,” he told the roundtable. “And it’s not about creating more heroes because they alr
By Stephanie Kelly LONDON, Aug 20 (Reuters) – Oil prices climbed to three-week highs on Thursday, driven by concerns that the impasse in the Iran war will continue to disrupt supply from the key Middle Eastern producing region. Brent crude futures for October delivery rose $1.20, or 1.3%, to $92.82
By Michael S. Derby and Ann Saphir Aug 20 (Reuters) – Federal Reserve Chairman Kevin Warsh has promised that the U.S. central bank will deliver price stability, but Treasury Secretary Scott Bessent’s decision on Wednesday to double buybacks of longer-dated U.S. debt may complicate any effort to do s
By Rae Wee SINGAPORE, Aug 20 (Reuters) – Standard Chartered is helping its wealth management clients deploy a portion of their assets to hedge funds to better cushion the impact of heightened market volatility, a top executive said. The Asia-focused bank’s move comes as global allocations to hedge f
TOKYO (AP) — Japan’s imports and exports set records in July and soaring energy costs and a weak yen helped extend a trade deficit for a third month, government data showed. Japan’s trade deficit totaled 634.5 billion yen ($4 billion) last month, marking the third straight month of red ink, the Fina
SINGAPORE, Aug 20 (Reuters) – A surprise U.S. Treasury buyback announcement arrested a worldwide rise in long-term borrowing costs on Thursday, though worries about inflation and ballooning government debt kept markets nervous and yields close to multi-decade highs. A day after the benchmark U.S. lo
BANGUI, Central African Republic (AP) — The death toll from a gold mine collapse in a western part of Central African Republic has risen to more than 100, a Red Cross volunteer involved in relief efforts and a local official said Wednesday. The low-tech, artisanal gold mine collapsed Tuesday morning
By Rae Wee SINGAPORE, Aug 20 (Reuters) – Global bonds steadied on Thursday after the U.S. Treasury stepped in to stem a rout in its bond market, soothing investor nerves and sending the dollar lower while stocks climbed. The U.S. Treasury announced overnight it will double buyback sizes for long-dur
(Corrects spelling to soothe, not sooth, in headline) By Ankur Banerjee SINGAPORE, Aug 20 (Reuters) – The U.S. dollar nursed steep losses on Thursday, hovering near three-month lows as investors digested measures announced by the U.S. Treasury Department to help calm the bond market that had seen lo
Aug 20 (Reuters) – CK Hutchison said on Thursday it had launched international arbitration proceedings against Panama and was seeking damages of more than $1.5 billion for the “destruction” of its investments in the Central American nation. The conglomerate said Panama breached an investment protect
By Makiko Yamazaki TOKYO, Aug 20 (Reuters) – Japan’s imports hit a monthly record in July as elevated oil prices drove up energy costs and inflationary pressures, while exports also climbed to an all-time high on a weaker yen and robust semiconductor-related demand. Total imports by value grew 27.8%
Aug 20 (Reuters) – Sales of electric trucks and buses nearly doubled globally in 2025, data from research organization the International Council on Clean Transportation showed in a report published on Thursday. China drove most of the growth and other markets such as the European Union and India saw
WASHINGTON (SRN NEWS) — President Donald Trump took on a role that has become one of his favorites Wednesday: builder-in-chief. Standing on the South Lawn of the White House amid the sounds of heavy equipment and ongoing construction, the president personally guided reporters through a series of maj
By Jamie McGeever ORLANDO, Florida, Aug 19 (Reuters) – Long-dated U.S. bond yields and the dollar tumbled on Wednesday after the U.S. Treasury said it would double the amount of planned bond buybacks in the coming months. As a result of the fall in market-based rates and the dollar, U.S. stocks clim
By Neil J Kanatt Aug 19 (Reuters) – Coty on Wednesday forecast current-quarter earnings below expectations and withheld its annual outlook, calling fiscal 2027 a “transition year” as it pushes ahead with a business overhaul. Shares of the company fell 7% in extended trading as its lack of an annual
