Year: 2023
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Biggest two-month rally in decades rescues beaten-up bond markets
By Harry Robertson LONDON (Reuters) -A huge two-month rally in bond prices, powered by expectations that central banks will soon be cutting interest rates, has rescued fixed income markets from an almost unheard-of third straight year of declines. The U.S. 10-year Treasury yield, the benchmark for borrowing costs globally, has dropped 46 basis points (bps)…
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Shares hold gains as rate cuts eyed for New Year
By Lawrence Delevingne and Tom Wilson (Reuters) -World shares edged up on Thursday as expectations of interest rate cuts stretched a rally in U.S. stocks, while benchmark Treasury yields and the dollar lifted slightly from five-month lows. On Wall Street, the Dow Jones Industrial Average rose 0.14%, while the Nasdaq Composite and the S&P 500…
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Dollar falls against yen, gains on euro in choppy trading
By Karen Brettell NEW YORK (Reuters) -The dollar dipped against the Japanese yen on Thursday on expectations the Federal Reserve will cut interest rates next year, but rebounded from earlier losses against the euro in choppy trading. The greenback has declined as expectations of rate cuts have increased, notably after the Fed’s unexpectedly dovish stance…
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Brazil’s Haddad unveils set of tax tweaks to ensure balanced public accounts
BRASILIA (Reuters) – Brazil’s Finance Minister Fernando Haddad unveiled on Thursday tax adjustments to limit benefits across various sectors and ensure fiscal compensation, which are expected to face opposition in Congress. The package aims to completely replace the text of an approved bill that President Luiz Inacio Lula da Silva vetoed, just to have it…
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China’s Xiaomi unveils first electric car, plans to become top automaker
By Yelin Mo and Casey Hall BEIJING (Reuters) -Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of the world’s top five automakers. The sedan, dubbed the SU7 with the SU short for Speed Ultra, is a highly anticipated model that…
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New US jobless claims rise again as labor market cools
By Amina Niasse NEW YORK (Reuters) -The number of Americans filing initial claims for unemployment benefits rose last week, indicating the labor market continues to cool in the year’s fourth quarter. New state unemployment benefit claims rose by 12,000 last week to 218,000, according to the Labor Department. A Reuters poll showed economists expected an…
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NY Times sues OpenAI, Microsoft for infringing copyrighted works
By Jonathan Stempel NEW YORK (Reuters) -The New York Times sued OpenAI and Microsoft on Wednesday, accusing them of using millions of the newspaper’s articles without permission to help train chatbots to provide information to readers. The Times said it is the first major U.S. media organization to sue OpenAI, creator of the popular artificial-intelligence…
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Apple can temporarily sell smartwatches after US appeals court win
By Blake Brittain and Jaspreet Singh (Reuters) -Apple can for now resume sales of its flagship smartwatches, after a U.S. appeals court on Wednesday paused a government commission’s import ban on the devices imposed in a patent dispute over its medical monitoring technology. The tech giant had filed an emergency request asking the U.S. Court…
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Explainer-What is next after pause of US Apple Watch import ban?
By Blake Brittain (Reuters) -A U.S. appeals court on Wednesday temporarily paused a ruling that had restricted imports of Apple’s popular Apple Watches into the United States. Here is a look at what the case means for consumers and what is next for Apple. Why was the ban imposed? The U.S. International Trade Commission in…
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Alibaba must face lawsuit in US over counterfeit Squishmallows
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Wednesday rejected Alibaba’s bid to dismiss a lawsuit over the alleged sale by various merchants of counterfeit versions of the popular children’s toy Squishmallows on its online platforms. U.S. District Judge Jesse Furman in Manhattan said Kelly Toys, whose parent Jazwares is owned by…