GLASGOW, Nov 1 (Reuters) - Denmark, the United States and 12 other countries on Monday backed a goal to reduce emissions by the global maritime sector to zero by 2050, a target to be fleshed out in negotiations at the United Nations shipping agency.The initiative, led by Denmark and announced on the sidelines of the U.N. COP26 climate summit in Glasgow, Scotland, aims to build support among coun...Read More
(Reuters) - Autonomous delivery vehicle maker Nuro raised $600 million in its latest funding round, the Silicon Valley-based startup said on Tuesday, bringing on board Alphabet Inc's Google as an investor.The funding round, led by Tiger Global Management, lifted Nuro's valuation to $8.6 billion from $5 billion previously, according to a person close to the deal.Toyota Motor Corp's Woven Capital, S...Read More
(Updates prices)* Fed policy statement due Wednesday* Dollar steady against rivals* Silver and platinum fall over 1%Nov 2 (Reuters) - Gold prices were subdued on Tuesday ahead of a crucial U.S. Federal Reserve meeting that could offer cues on future interest rate hikes amid rising inflationary pressures.Spot gold dipped 0.1% to $1,790.55 per ounce by 1314 GMT. U.S. gold futures for December delive...Read More
SHANGHAI (Reuters) - Chinese stock market investors are swapping big tech names for "small giants" and luxury brands for mass market companies, aiming to cash in on President Xi Jinping's "common prosperity" plan for the economy.The intent behind Xi's drive is a narrower gap between the rich and poor in the world's second largest economy.But the first policy moves rattled markets as authorities in...Read More
LONDON (Reuters) - The end of Britain's furlough programme has not led to a surge in new job-seekers, according to data that suggests unemployment is unlikely to rise sharply and could bolster the case for a Bank of England interest rate hike.Research by recruitment website Indeed, seen by Reuters ahead of publication, shows only a small increase in the proportion of British workers who say they a...Read More
NEW YORK, Nov 2 (Reuters) - Wall Street banks are intensifying preparations for the Federal Reserve’s withdrawal of pandemic stimulus to ensure they are able to handle spikes in market volatility, help clients manage their risks -- and score a profit.With the Fed expected to formally announce on Wednesday that it will begin tapering its monthly bond purchases, sales and trading teams are hea...Read More
LONDON (Reuters) - Euro zone manufacturing activity remained strong last month but was curtailed by supply chain bottlenecks and logistical problems which sent input costs soaring, a survey showed on Tuesday.Ongoing disruptions caused by the coronavirus pandemic, alongside a shortage of heavy goods vehicle drivers, has caused product shortages and left factories struggling to get the raw materials...Read More
Monday was like the previouscouple of weeks for gold and silver; they made a charge to breakout to theupside but failed. Platinum did the same and the $40.00 rally only reached thetop of the range. The pattern is the key, and it remains the same as a bridgeto nowhere. This morning, gold, silver andplatinum are flat to slightly lower. Our expectations have not changed, we arelong, and the trend is...Read More
WASHINGTON, Nov 1 (Reuters) - A U.S. Treasury Department-led regulatory body called on Monday for Congress to regulate issuers of "stablecoins" like banks and urged financial agencies to assess whether the role of these fast-growing digital assets in the country's payments system posed a systemic risk.The hotly awaited report by the President's Working Group on Financial Markets will likely boost...Read More
HONG KONG, Nov 2 (Reuters) - The posting of an ancient Chinese poem by Tesla (TSLA.O) CEO Elon Musk on social media on Tuesday has driven Chinese internet users to engage in a frenzied debate game over his meaning, with many also praising him for his knowledge of the text.Musk, who is known for his cryptic Twitter posts, wrote in English "Humankind" before posting an abbreviated version of the '...Read More
(Reuters) - It is hardly a secret by now that the Federal Reserve is going to reduce its support for the U.S. economy soon: starting this month it will likely begin to pare its monthly asset purchases by $15 billion each month until ending them by mid-2022.That, at least, is the roadmap suggested by the Fed's post-meeting statements, minutes of its meetings, and remarks from Fed Chair Jerome Powel...Read More
TOKYO (Reuters) - Japanese policymakers on Tuesday reaffirmed the Bank of Japan's (BOJ) commitment to its 2% inflation target in a meeting held between the central bank chief and the country's economy and finance ministers.The Japanese government and the central bank also agreed to keep in close contact and cooperation, in line with commitments made in a 2013 joint statement, which also laid out t...Read More
* Graphic: World FX rates in 2021 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9HvLONDON, Nov 2 (Reuters) - The pound edged lower on Tuesday, hovering around a three-week low, pressured by uncertainty whether the Bank of England will raise interest rates this week.Sterling rose to a 20-month high versus the euro in late October amid expectations for a BoE i...Read More
SHANGHAI (Reuters) - Yahoo said it had stopped allowing its services to be accessible from mainland China "in recognition of the increasingly challenging business and legal environment", the second Western tech brand to quit the country in recent weeks.The company stopped providing content for users in mainland China as of Nov. 1, according to a statement published on its website, which directed u...Read More
LONDON (Reuters) -Oil steadied near $85 a barrel on Tuesday, not far from a multi-year high, supported by signs that supply from OPEC and other producers is falling short, although expectations of a rise in U.S. inventories was weighing.The increase in OPEC's oil output in October undershot the rise planned under a deal with allies, a Reuters survey found on Monday, due to involuntary outages and...Read More
(Reuters) - KKR & Co Inc said on Tuesday its third quarter distributable earnings more than doubled to $925.1 million, driven by strong growth in management fees and profit from asset sales in its private equity business.KKR and other private equity firms have benefited from a flurry of mergers and acquisitions as the global economy recovers from the pandemic. Its peers Blackstone Inc and Carlyle...Read More
NEW YORK, Nov 2 (Reuters) - Jefferies Financial Group has recruited senior bankers from rivals including JPMorgan Chase & Co and Barclays PLC to strengthen its investment banking unit, according to an internal memo seen by Reuters on Tuesday.Matthias Kristol will join Jefferies as global head of asset and wealth management investment banking, while Aaron Bruker will join the bank as head of sideca...Read More
AUSTIN/SEATTLE, Nov 2 (Reuters) - In Wichita, Kansas, nearly half of the roughly 10,000 employees at aircraft companies Textron Inc (TXT.N) and Spirit AeroSystems (SPR.N) remain unvaccinated against COVID-19, risking their jobs in defiance of a federal mandate, according to a union official."We're going to lose a lot of employees over this," said Cornell Adams, head of the local Machinists uni...Read More
TOKYO, Nov 2 (Reuters) - Nintendo Co. (7974.T) will make 20% fewer Switch games consoles than planned in the year to March 31 because of shortages of semiconductors and other components, the Nikkei business daily reported.Switch production for the business year will be around 24 million units, the paper reported, without saying where it obtained the information."The supply and demand of semicond...Read More
Nov 2 (Reuters) - Tesla Inc (TSLA.O) top boss Elon Musk said the electric carmaker had not signed a contract with Hertz, more than a week after the car rental firm announced a massive deal with the electric car company.Tesla's shares fell 5% to $1,146 in premarket trading, after a steep jump following the news of the biggest-ever order - 100,000 electric cars for Hertz - on Oct. 25, which helped...Read More