Author: Press Room

© Reuters. FILE PHOTO: A man wearing a mask walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, February 3, 2020. REUTERS/Jason Lee/File Photo SHANGHAI/SINGAPORE (Reuters) -China’s attempts to keep the yuan from falling contributed to last week’s chaos in money markets, sources involved say, pointing to the pressure behind the scenes as Beijing tries to guide its economy and markets through a major slowdown. Routine month-end demand for cash in China’s banking system snowballed into a scramble on Oct. 31 that pushed short-term funding rates as high as 50% in some cases,…

© Reuters. FILE PHOTO: Meta AI logo is seen in this illustration taken September 28, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Katie Paul NEW YORK (Reuters) – Facebook (NASDAQ:) owner Meta is barring political advertisers from using its new generative AI advertising products, a company spokesperson said on Monday, cutting off campaigns’ access to tools that lawmakers have warned could turbo-charge the spread of election misinformation. Meta has not yet publicly disclosed the decision in any updates to its advertising standards, which prohibit ads with content that has been debunked by the company’s fact-checking partners but do not appear to have…

© Reuters. Kenya’s Energy and Petroleum Secretary, David Chirchir, has warned of a possible increase in petrol prices to Sh300 per liter, driven by the ongoing Israel-Gaza conflict and the global petroleum price surge. This comes despite the Central Bank of Kenya (CBK) reporting a decline in international oil prices, with Murban oil dropping from $90.23 to $87.24 per barrel. The CBK’s weekly bulletin highlighted a decrease in Murban oil prices, a key component of Kenya’s imported refined petroleum products. Yet, Chirchir anticipates that the Middle East conflict could trigger a fresh increase in fuel prices due to potential disruptions…

bodnarchuk/iStock via Getty Images Newmont (NYSE:NEM) announced Monday it has completed the acquisition of Newcrest Mining, making the world’s largest producing gold miner even bigger by adding five active mines and two advanced projects to its portfolio. Newmont (NEM) CEO Tom Palmer told The Wall Street Journal that the company now wants to raise $2B from selling mines and rescheduling developments as it determines which exploration projects to prioritize during the next two years. Among the assets under discussion is Newmont’s (NEM) Cripple Creek & Victor gold mine in Colorado, noting the mine is smaller than many of the operations…

Gov. Ron DeSantis of Florida needed a lift in his quest to beat former President Donald J. Trump in the crucial Iowa caucuses.On Monday, Mr. DeSantis may have gotten one, as he received the endorsement of Kim Reynolds, the state’s popular Republican governor, during an interview on NBC News.“I just felt like I couldn’t sit on the sidelines any longer,” Ms. Reynolds said. “We have too much at stake. I truly believe that he is the right person to get this country back on track.”Mr. DeSantis, sitting beside her, called her support in the Republican presidential primary “very meaningful.”The two…

Volodymyr Zelenskyy said the Israel-Hamas war is distracting the world from the invasion of Ukraine.An international affairs expert told Insider Israel’s war in Gaza may benefit Putin in several ways.Protracted war in Israel may force the US to make tough choices about providing aid elsewhere. 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 Ukrainian President Volodymyr Zelenskyy, in a Saturday press conference, said the Israel-Gaza war is “taking away the focus” from Russia’s invasion of Ukraine, BBC reported.While some may bristle at the notion,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Staff at Britishvolt are warning the UK battery start-up may be “trading while insolvent”, after they were left unpaid for the past four months.Two current staff said the company’s owner, Australian entrepreneur David Collard, who agreed to purchase the business out of administration earlier this year, has left its bills and staff unpaid for months. One employee said staff were “at the mercy of David”. The person added: “Every week [the money] is coming the following week. I think the reality is…

© Reuters. Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, attends an interview with Reuters in New York City, New York, U.S., May 22, 2023. REUTERS/Mike Segar/File Photo By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday that the U.S. central bank likely has more work ahead of it to control inflation. “The economy has proved to be really resilient even though we’ve raised interest rates a lot over the past couple of years. That’s good news,” Kashkari said in an interview on the Fox News…

© Reuters. Intel in lead position for billions in funding for secure defense chip factories Intel (NASDAQ:) is at the forefront of possibly receiving multi-billion-dollar government funding for secure microchip manufacturing plants serving the U.S. defense and intelligence, according to The Wall Street Journal, which cited people familiar with the matter. These yet-to-be-revealed facilities are planned to be established as dedicated “secure enclaves,” as per the sources. The intention behind this is to curtail the U.S. military’s reliance on chips imported from East Asia, notably Taiwan, due to perceived threats of Chinese territorial aggression. With financial backing from the Biden…

© Reuters. Workers are seen at the production line of lithium-ion batteries for electric vehicles (EV) at a factory in Huzhou, Zhejiang province, China August 28, 2018. REUTERS/Stringer/ File photo By David Shepardson WASHINGTON (Reuters) -Two influential Democratic U.S. senators urged the Energy Department to take steps to boost U.S. battery manufacturing and next-generation battery research, citing China’s dominance and export controls, according to a letter seen by Reuters. Senate Intelligence Committee Chair Mark Warner and Energy Committee Chair Joe Manchin cited experts saying that the United States is “ten to twenty years behind Asia in commercialization of battery technology,”…