Pound jumps after UK tax cut rescinded, oil climbs higher

Pound jumps after UK tax cut rescinded, oil climbs higher

TOKYO, Oct 3 (Reuters) – Oil surged on Monday as OPEC+ considered cutting output at its meeting later this week, while the pound appreciated after the British government announced it would would undo a controversial tax cut that had rocked UK markets. Asian stocks mostly fell over the holidays, although Japanese markets found support from … Read more

Japan spent a record nearly $20.0 billion in intervention to support the yen

Japan spent a record nearly .0 billion in intervention to support the yen

Intervention drains nearly 15% of readily available funds Japan may avoid selling US Treasuries for now – analysts Impact of additional intervention could diminish – analysts TOKYO, Sept 30 (Reuters) – Japan spent a record 2.8 trillion yen ($19.7 billion) intervening in the foreign exchange market last week to prop up the yen, officials revealed … Read more

Elon Musk set to introduce Tesla’s humanoid robot after delay

Elon Musk set to introduce Tesla’s humanoid robot after delay

SAN FRANCISCO, Sept 30 (Reuters) – Tesla (TSLA.O) CEO Elon Musk has said a robot company will be worth more than its cars, and on Friday investors, customers and would-be workers swarmed expect to see a prototype on Tesla’s “AI Day”. which could prove whether the bot named “Optimus” is ready to run. The robot … Read more

China’s factory and services surveys suggest the economy is struggling to rebound

China’s factory and services surveys suggest the economy is struggling to rebound

China’s official September manufacturing PMI above forecast Private survey shows factory activity has contracted sharply Growth in services sector activity slowed in September – official survey COVID curbs, easing foreign demand, weak real estate weigh BEIJING, Sept 30 (Reuters) – China’s manufacturing activity slowed growth in September, but slowing service sector growth and a pessimistic … Read more

Exclusive: Brands blast Twitter for ads next to child porn accounts

Exclusive: Brands blast Twitter for ads next to child porn accounts

Sept 28 (Reuters) – Some major advertisers, including Dyson, Mazda, Forbes and PBS Kids, have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography, the companies told Reuters. DIRECTV and Thoughtworks also told Reuters on Wednesday evening that they had suspended advertising on … Read more

Eisai and Biogen say Alzheimer’s drug successful in slowing cognitive decline

Eisai and Biogen say Alzheimer’s drug successful in slowing cognitive decline

Sep 27 (Reuters) – Eisai Co Ltd (4523.T) and Biogen Inc (BIIB.O) said on Tuesday that their experimental Alzheimer’s drug had significantly slowed cognitive and functional decline in a large trial of patients with early stages of the disease, marking a rare victory in a field littered with failed drugs. The drug, lecanemab, slowed the … Read more

Crawling dollar pauses for breath as bears stalk stocks

Crawling dollar pauses for breath as bears stalk stocks

Join now for FREE unlimited access to Reuters.com Register HONG KONG, Sept 27 (Reuters) – Asian markets tried to stabilize on Tuesday after a wild few days in which most assets except the dollar fell, the greenback easing a bit and stocks stagnant. The pound, which slumped to a record low of $1.0327 on Monday, … Read more

Wall Street ends lower, Dow confirms a bear market

Wall Street ends lower, Dow confirms a bear market

Join now for FREE unlimited access to Reuters.com Register Fed rate hikes prompt investors to ‘throw in the towel’ Casinos surge as Macau allows tour groups after nearly 3 years Indices: Dow -1.11%, S&P 500 -1.03%, Nasdaq -0.60% Sept 26 (Reuters) – Wall Street slid deeper into a bear market on Monday, with the S&P … Read more

Exclusive: India’s push for local navigation system shakes up smartphone giants

Exclusive: India’s push for local navigation system shakes up smartphone giants

India wants to compete with local GPS in smartphones; industry fears costs Smartphone gamers want January 2023 deadline postponed in New Delhi Samsung, others say Indian system needs hardware-source changes Boosting native system as part of Modi’s autonomy campaign NEW DELHI, September 26 (Reuters) – India is pushing tech giants to make smartphones compatible with … Read more

Pound slumps to record high, dollar soars amid UK fiscal angst

Pound slumps to record high, dollar soars amid UK fiscal angst

A woman holds British pound banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/ Join now for FREE unlimited access to Reuters.com Register TOKYO, Sept 26 (Reuters) – The pound sterling fell to a record low on Monday as traders rushed for the exits on the belief that the new government’s economic plan would … Read more