(Reuters) – Target will be lowering prices on at least 5,000 frequently shopped products across its assortment ranging from milk to diapers, the big-box retailer said on Monday, as it looks to attract budget-stretched customers. Still-high food prices and borrowing costs have made cash-crunched customers more conscious of their spending on pricey items and look […]
Nippon Steel executive to visit U.S. to meet stakeholders of U.S. Steel deal
By Urvi Dugar, Akanksha Khushi and Yuka Obayashi , TOKYO (Reuters) -Japan’s Nippon Steel said on Saturday its vice chairman, Takahiro Mori, a key negotiator for its planned purchase of U.S. Steel, will travel to the United States next week to meet stakeholders as part of continued efforts to complete the deal. A spokesperson for […]
Fed remains cautious on cuts even as data improves
By Howard Schneider WASHINGTON (Reuters) – Data this week offered the U.S. Federal Reserve good news on two fronts but policymakers haven’t openly shifted views yet about the timing of rate cuts investors are convinced will start this year. Comments from Fed officials including the vice chair of the rate-setting Federal Open Market Committee, New […]
Wall Street bets on stellar quarterly results from Nvidia
By Arsheeya Bajwa (Reuters) – Wall Street is betting on a blowout quarterly report from Nvidia on Wednesday, with its stock near record highs as investors look for evidence that the AI chipmaker can maintain its explosive growth and stay ahead of rivals. The results will be the latest test for Wall Street’s picks-and-shovels trade […]
KKR remedies on Telecom Italia deal expected next week, source says
By Elvira Pollina ROME (Reuters) – U.S. investment firm KKR will likely offer remedies next week in an attempt to secure EU antitrust approval to buy Telecom Italia’s (TIM) fixed-line access network, a person familiar with the matter said on Wednesday. KKR wants to acquire TIM’s domestic network for up to 22 billion euros ($23.87 […]
Fed’s Kashkari: rates should stay on hold ‘for a while longer’
(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday reiterated his view that he is unsure how restrictive monetary policy is right now, and that borrowing costs should stay where they are as U.S. central bankers take stock of inflation. “The biggest uncertainty in my mind is how much downward pressure is […]
Fed gets some good news on inflation progress
By Ann Saphir (Reuters) – Federal Reserve policymakers waiting to see renewed progress on inflation before reducing borrowing costs got some encouraging data on Wednesday with a government report showing inflation eased a bit in April. The 3.4% rise in the consumer price index from a year earlier, and the 0.3% increase from March, […]
Israel in spotlight at Eurovision semi-final as pro-Palestinian protests LOOM
By Jacob Gronholt-Pedersen MALMO, Sweden (Reuters) –The second semi-final of this year’s Eurovision Song Contest will take place in Sweden on Thursday, with Israel’s performance expected to draw attention due to large pro-Palestinian protests planned in host city Malmo. Some 100,000 visitors have gathered in the southern Swedish city for the annual kitsch-fest, which is […]
China’s Zeekr prices US IPO at top of range to raise $441 million
By Echo Wang and Scott Murdoch NEW YORK (Reuters) -Chinese electric vehicle maker Zeekr Intelligent Technology priced its U.S. initial public offering (IPO) at the top of its indicated range, raising $441 million, it said on Friday. Zeekr, which is the premium brand of Chinese automaker Geely, upsized its IPO to sell 21 million American […]
Chinese companies hit with US trade restrictions over spy balloon incident
By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) -The Biden administration added 37 Chinese entities to a trade restriction list on Thursday, including some for allegedly supporting the spy balloon that flew over the United States last year, heightening tensions between Beijing and Washington. The Commerce Department also said it was adding some units of […]