Author: Press Room

Capitol Hill is breathing a sigh of relief as lawmakers jet back to their home states for the Thanksgiving holiday after a grueling 10 weeks full of late-night votes and, toward the end, increasingly testy exchanges. It’s tested the mettle of newly minted Speaker Mike Johnson, R-La., whose leadership victory temporarily appeared to unite what’s been a highly divided House GOP Conference this year.But months-old fractures, particularly over government spending, have continued to widen three weeks into Johnson’s speakership – despite scoring some key victories so early in his tenure.WHEN IT COMES TO THE NEXT SHUTDOWN FIGHT IN CONGRESS, SILENCE IS…

Trevor Milton’s lawyers say he should avoid prison because his fraud conviction is not like that of Elizabeth Holmes. Holmes was convicted on charges that she defrauded investors in blood-testing company Theranos. Milton was convicted on charges that he duped investors with exaggerated claims about zero-emission Nikola trucks. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Lawyers for the founder of truckmaker Nikola Corp. say he should not face incarceration because his fraud conviction is nothing like the fraud that landed Theranos founder Elizabeth Holmes…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.British retail sales have fallen unexpectedly to their lowest level since February 2021, when Covid-19 curbs were in place, fuelling concerns that high prices and interest rates are hitting households’ finances more sharply than anticipated.The quantity of goods bought in Great Britain declined 0.3 per cent in October compared with the previous month, the Office for National Statistics said on Friday. Economists polled by Reuters had forecast a 0.3 per cent rise. The fall in October follows a bigger than previously calculated…

© Reuters. FILE PHOTO: A man walks past a Grab office in Singapore March 26, 2018. REUTERS/Edgar Su By Yuvraj Malik (Reuters) -Grab Holdings on Thursday reported its first ever adjusted core profit in the third quarter and predicted free cash flow next year, driven by strong demand for its food delivery and ride-share services. Shares of the company, one of Southeast Asia’s largest internet firms, were up about 6% in premarket trading after a beat on quarterly revenue and smaller full-year core loss expectations. “We’re going to continue to balance growth and the profitability,” Chief Financial Officer Peter Oey…

© Reuters. FILE PHOTO: The logo of British multinational oil and gas company BP is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo By Christoph Steitz and Ron Bousso BERLIN/LONDON (Reuters) – BP (NYSE:) is seeking partners for offshore wind projects in Japan and may invest in hydrogen technology companies to tackle inflation and equipment bottlenecks that have battered the renewables sector. The oil major plans to expand in low carbon energy in the coming decades as it seeks a long-term business model that can survive…

© Reuters. LONDON – Copper prices experienced fluctuations this week as market participants weighed a mix of global economic indicators, including China’s industrial data and movements in the US dollar. On Thursday, the London Metal Exchange’s (LME) three-month contract edged up slightly by 0.1%, while the Shanghai Futures Exchange’s (SHFE) December copper contract declined by 0.3%. The shifts in copper prices have been influenced by various factors. Wednesday’s robust industrial output from China initially drove copper prices to near six-week highs. However, concerns over China’s property sector and a strengthening dollar capped these gains. The dollar’s strength continued into Thursday,…

rarrarorro/iStock via Getty Images London (UKX) +0.5% UK retail sales dip 0.3% in October Germany (DAX:IND) +0.4% France (CAC:IND) +0.5% Industrial production in Switzerland increased 2% year-on-year in the third quarter, rebounding from a 0.7% fall in the previous three-month period, as output declined at a softer pace for mining & quarrying. The pan-European Stoxx 600 (STOXX) advanced 0.5% on Friday ahead of a final reading of euro zone inflation for October, and expectation of rate cuts after a batch of soft U.S. data in the previous session. The slide in British retail sales in October also raised hopes that…

© Reuters. Investing.com – The U.S. dollar edged higher in early European trade Friday, but was heading for a sharp weekly loss after cooling inflation spurred growing bets that the Federal Reserve has completed its series of rate hikes. At 03:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.1% to 104.374, still on course for a weekly loss of around 1.3%. Dollar set for hefty weekly loss The dollar has weakened this week growing expectations that inflation is in retreat and interest rate increases by the Federal Reserve are…

President Biden signed a short-term government funding bill on Thursday, narrowly averting a government shutdown but leaving a larger spending clash for Congress early next year.The Senate gave final approval to the package late Wednesday, about 48 hours before a shutdown deadline at midnight Friday. In a two-step plan, the bill funds congressional priorities including military construction, veterans affairs, transportation, housing and the Energy Department through Jan. 19. Other agencies would be funded until Feb. 2.The vote in the Senate was 87 to 11, with 10 Republicans and one Democrat, Michael Bennet of Colorado, opposing the bill. It was approved…

China said on Wednesday that it’s willing to help the US crack down on fentanyl.The US says China is a main source of materials for fentanyl that later ends up in America.But experts are skeptical that the deal, scant on details, will result in change on US streets.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app President Joe Biden and Chinese leader Xi Jinping agreed on Wednesday to crack down on fentanyl production, a move the US has championed as a key step toward…