Dollar firms against yen after BOJ cautious tone over rate hikes

By Chibuike Oguh and Linda Pasquini NEW YORK/LONDON (Reuters) -The dollar strengthened against the yen on Friday after the Bank of Japan left interest rates unchanged and indicated that it was not in a hurry to hike them again. The BoJ could afford to spend time eyeing the fallout from global economic uncertainties, Governor Kazuo Ueda said in a press conference following the central bank’s move, adding that its monetary policy decision will be based … Read more…

Categories Uncategorized

World Bank climate finance reaches record $42.6 billion in fiscal 2024

WASHINGTON (Reuters) -The World Bank Group said on Thursday it delivered a record $42.6 billion in climate finance during fiscal 2024, a 10% increase over the $38.6 billion the prior year and close to its target of a 45% share of total financing devoted to climate projects. The $4 billion increase in climate financing during the fiscal year ended June 30 shows progress towards the bank’s goals, but is well short of the trillions of … Read more…

Trump Media shares face potential sell-off as insider selling restrictions lift

By Medha Singh and Noel Randewich (Reuters) – While former U.S. President Donald Trump has said he will not sell his $1.7 billion stake in Trump Media after restrictions likely expire on Thursday, other insiders could soon cash in their gains. Trump Media & Technology Group is 57% owned by the Republican presidential candidate who told reporters last Friday that he does not plan to sell his shares. Other major stakeholders who could soon sell … Read more…

Categories Uncategorized

Amazon adds chatbot for its sellers, boosting automation

By Greg Bensinger (Reuters) – Amazon.com announced on Thursday a new artificial intelligence application that it says will help its independent sellers with sales metrics, inventory maintenance and product advertising, among other things. The move is part of a broader Big Tech effort to employ the technology for greater automation. The software, dubbed Amelia, can provide instantaneous answers to broad questions such as how to prepare for the holidays and how a seller’s business is … Read more…

Coca-Cola plans to invest $1 billion in Nigeria operations, presidency says

ABUJA (Reuters) – Coca-Cola plans to invest $1 billion in its Nigeria operations over the next five years, the country’s presidency said after a meeting between President Bola Tinubu and senior executives of the soft drinks maker on Thursday. Tinubu met John Murphy, president and chief financial officer of Coca‑Cola, Zoran Bogdanovic, CEO of Coca-Cola HBC – one of Coca-Cola’s many bottlers worldwide – and several other company officials as he seeks to attract investment … Read more…

Google urges tribunal to throw out $9.3 billion UK lawsuit over search ‘dominance’

LONDON (Reuters) – Google parent Alphabet on Wednesday asked a London tribunal to throw out a mass lawsuit that accuses the tech giant of abusing its dominance in the online search market. The lawsuit – valued at up to 7 billion pounds ($9.3 billion) – is the latest case focusing on the business practices of Google, which is currently facing a major antitrust trial in the United States over its online advertising business. It is … Read more…

T-Mobile expects adjusted free cash flow between $18 billion and $19 billion in 2027

(Reuters) – Telecom operator T-Mobile said on Wednesday it expects adjusted free cash flow to be between $18 billion to $19 billion in 2027. The company expects to add 12 million 5G broadband customers by 2028, CEO Mike Sievert said at T-Mobile’s Capital Markets Day. T-Mobile, one of the top three carriers in the U.S., has seen increased adoption for its premium plans that offer streaming packages along with unlimited offerings. By extending its network … Read more…

Wall Street advances after Fed cuts rates 50 basis points

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks briefly shot higher on Wednesday after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years. Citing a “greater confidence” that inflation is moving toward the central bank’s 2% target, the Fed cut rates by half of a percentage point, as it now focuses on keeping the labor market healthy. Trading was choppy. … Read more…

Categories Uncategorized

US single-family homebuilding surges, rising supply a near-term constraint

By Lucia Mutikani WASHINGTON (Reuters) – U.S. single-family homebuilding rebounded sharply in August, but a moderate increase in building permits suggested that the momentum was unlikely to be sustained against the backdrop of rising supply of new homes on the market. The jump in single-family housing starts reported by the U.S. Commerce Department on Wednesday probably reflected the fading drag from Hurricane Beryl, which had depressed homebuilding in the South. Homebuilders could also face a … Read more…

Categories Uncategorized

US economy on solid ground as retail sales surprise on the upside

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales unexpectedly rose in August as a decline in receipts at auto dealerships was more than offset by strength in online purchases, suggesting that the economy remained on solid footing through much of the third quarter. The report from the Commerce Department on Tuesday also showed retail sales were a bit stronger than initially thought in July. It combined with the decline in the unemployment rate last … Read more…

Categories Uncategorized