Senate Democrats battle to pass $430 billion climate, drug bill

WASHINGTON, Aug 6 (Reuters) – The US Senate on Saturday began debating a Democratic bill to address key elements of President Joe Biden’s agenda – tackling climate change, lowering the costs of medication for the elderly and energy, while forcing corporations and the wealthy to pay more taxes. The debate began after the Senate voted … Read more

US labor market defies recession fears as job growth surges in July

Nonfarm payrolls increased 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rose 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring … Read more

Jury finds Alex Jones must pay $4.1 million for Sandy Hook hoax claims

Aug 4 (Reuters) – US conspiracy theorist Alex Jones should pay parents of a child killed in the 2012 Sandy Hook massacre at least $4.1 million for falsely claiming the shooting was a hoax, a Texas jury said on Thursday. The verdict followed a two-week trial in Austin, Texas, where Jones’ radio show and webcast … Read more

US charges four Kentucky police officers in Breonna Taylor killing

WASHINGTON, Aug 4 (Reuters) – US prosecutors on Thursday charged four current and former Louisville, Kentucky, police officers for their roles in the botched 2020 raid that killed Breonna Taylor, a Black woman who was in her home, in a case that sparked nationwide protests. The charges represented the Justice Department’s latest effort to crack … Read more

EXCLUSIVE Tencent seeks bigger stake in ‘Assassin’s Creed’ maker Ubisoft -sources

HONG KONG, Aug 4 (Reuters) – Tencent Holdings Ltd (0700.HK) plans to raise its stake in French video game group Ubisoft Entertainment SA (UBIP.PA) as the Chinese gaming giant pivots to the global gaming market, four sources with direct knowledge of the matter told Reuters. China’s largest social network and gaming firm, which bought a … Read more

Exclusive: Samsung workers in Vietnam bear brunt of slowdown in global demand for electronics

Employees make their way to work at the Samsung factory in Thai Nguyen province, north of Hanoi, Vietnam October 13, 2016. REUTERS/Kham Register now for FREE unlimited access to Reuters.com Register THAI NGUYEN, Vietnam, Aug 4 (Reuters) – Samsung Electronics Co Ltd has scaled back production at its massive smartphone plant in Vietnam, employees say, … Read more

Stocks steady as markets bet on hefty Bank of England hike

Market bets on 50bp hike by Bank of England Fed official: 50bp hike in Sept “reasonable” Oil rebounds from six-month low Lufthansa returns to operating profit Credit Agricole sees profits jump LONDON, Aug 4 (Reuters) – Strong earnings at Credit Agricole and Lufthansa lifted stocks on Thursday as tension over Nancy Pelosi’s visit to Taiwan … Read more

Fed officials beat inflation drum; 50-basis-point rate hike ‘reasonable’ next month

Aug 3 (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the US central bank’s key interest rate next month might be enough to march towards that goal. “I start from the idea that 50 (basis points) would be a reasonable … Read more

Wall Street rallies on economic data, crude falls as stockpiles jump

NEW YORK, Aug 3 (Reuters) – US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that US stockpiles of crude and gasoline unexpectedly surged last week. … Read more

HSBC rejects Ping An break-up call, promises higher dividend

HSBC to revert to paying quarterly dividends from 2023 Aims to win over investors with higher profitability targets Says demerger of Asian business has huge risks London shares rise nearly 8% LONDON/SINGAPORE, Aug 1 (Reuters) – HSBC (HSBA.L) pushed back on a proposal by top shareholder Ping An Insurance Group Co of China (601318.SS) to … Read more