China's Sinopec signs agreement to enter retail fuel market in crisis-hit Sri Lanka
Chinese petroleum giant Sinopec has signed an agreement with Sri Lanka to enter its retail fuel market
2023-05-23 09:50
Japan's factory activity expands for first time in 7 months- PMI
TOKYO Japan's manufacturing activity expanded for the first time in seven months in May, while the service-sector hit
2023-05-23 08:59
Bank of Korea to hold rates until end of September, cut in Q4- Reuters poll
By Anant Chandak BENGALURU The Bank of Korea will keep interest rates unchanged for a third time on
2023-05-23 08:48
Oil Edges Higher as Traders Track Talks to Head Off US Default
Oil rose after US House Speaker Kevin McCarthy said he and President Joe Biden had a productive talk
2023-05-23 08:29
Amazon Covid Changes and CEO's Anti-Union Comments Broke Law, Labor Board Alleges
Amazon.com Inc. repeatedly violated federal labor law by unilaterally changing policies and terminating union supporters at its sole
2023-05-23 08:20
How a Billion-Dollar Hong Kong Luxury Tower Highlights Developer Distress
The Corniche was supposed to generate HK$30 billion ($3.8 billion) in sales after the developers bought the land
2023-05-23 07:59
Qantas Says Strong Travel Demand, Cost Cuts Drive Profit Growth
Qantas Airways Ltd. said strong travel demand and the completion of its cost-cutting program will drive profit growth
2023-05-23 07:57
Biden, McCarthy Have Productive Talk on Debt But No Deal Yet
House Speaker Kevin McCarthy said he and President Joe Biden had a productive talk but have not yet
2023-05-23 07:47
US Default Scenarios Span From Localized Pain to Dimon’s ‘Panic’
Investment bank clients are peppering Wall Street with questions about what happens if the US Treasury in coming
2023-05-23 07:29
Montana is banning TikTok. But can the state enforce the law and fend off lawsuits?
TikTok is challenging Montana’s first-of-its kind law that makes it illegal for people to use the social media app in the state
2023-05-23 07:25
Biden ‘optimistic’ as McCarthy arrives for last-ditch debt talks
President Joe Biden on Monday said he was “optimistic” about the chances of finding an agreement with the Republican-led House of Representatives that would avoid a catastrophic default on America’s sovereign debt. Speaking at the outset of a crucial meeting with House Speaker Kevin McCarthy, Mr Biden said the source of his optimism was a shared agreement between the two men that a debt default is “off the table”. Mr Biden also said the consequences that would arise should the US fail to meet its’ outstanding debt obligations would be “a kick in the ... economic well-being” for the American people. The negotiating session between the president and House speaker comes with just ten days remaining before the US Treasury is set to lose the ability to pay its’ bills by issuing new bonds. In a letter to Congress, Treasury Secretary Janet Yellen said on Monday that “it is highly likely” that the Treasury would run out of operating funds in the event that Congress does not raise the department’s statutory debt limit. A default on America’s sovereign debt would be a financial catastrophe both for Americans and people around the world who rely on US financial stability. Mr Biden said he and Mr McCarthy “talked about the need for bipartisan agreement” and stressed that he was “optimistic” that he and Mr McCarthy were “going to make some progress” during the Monday evening session. For his part, the House Speaker said he and Mr Biden had a “very productive” conversation during a phone call held on Sunday while Mr Biden was returning to Washington from the G7 summit aboard Air Force One. Earlier in the day, Mr McCarthy told reporters at the Capitol that “decisions have to start being made” on spending for the next fiscal year since “we’re 10 days out” from the debt ceiling deadline. “We have to spend less next year than we spent this year,” he said before pointing to the House’s proposal for spending cuts as the “framework” for a deal. “I’m hopeful,” he added. Read More Watch live: Biden and McCarthy meet to discuss US debt ceiling Who is Tim Scott? 5 things to know about the newest 2024 GOP presidential candidate A timeline of Donald Trump’s rivalry with Ron DeSantis
2023-05-23 06:59
Analysis-China's Micron ban highlights chipmakers' dilemma as Sino-U.S. tensions grow
By Joyce Lee SEOUL (Reuters) -China's ban on the use of U.S.-based Micron Technology's chips in certain sectors, announced on
2023-05-23 06:51