Business News

(Reuters) — Elon Musk’s banks, faced with huge losses on their commitment to finance the $44 billion buyout of Twitter Inc, may not be able to back out of the deal easily but they might have a way to minimize the hit they take. Morgan Stanley, Bank of America Corp, Barclays Plc and Mitsubishi…

LONDON (Reuters) — World stocks headed back towards their lowest levels in almost two years on Tuesday, with sentiment weighed down by unease about rapidly rising interest rates, an escalation in the Ukraine war and China stepping up pandemic measures. There was some respite for Britain’s bat…

(Reuters) — U.S. online holiday sales are expected to rise this year at their slowest pace since at least 2015, according to a report, as shoppers feel the brunt of decades-high inflation and soaring interest rates. Adobe Analytics forecast online sales in November and December to rise 2.5% to $209…

IT&E on Monday announced the addition of Rina Marie Guzman to its team as IT director for Guam and the CNMI. Guzman has a total of 16 years of experience in the technology industry in the Philippines and the Asia-Pacific region, most recently as board director and transformation leader – custom…

CHICAGO (Reuters) — The U.S. Federal Reserve may still be able to lower inflation without a sharp rise in unemployment even as it continues raising interest rates, Chicago Fed president Charles Evans said Monday, a rebuttal to arguments the Fed is pushing the world and the U.S. towards a potentiall…

(Reuters) — The Biden administration published a sweeping set of export controls on Friday, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment, vastly expanding its reach in its bid to slow Beijing’s technological and military …

YONG PENG, Malaysia (Reuters) — Malaysian research student Haziq Ramli wore an outfit resembling a light jetpack, with poles strapped to his biceps, to wield a long pole that clipped the sharp fronds and heavy bunches of fruit from oil palm trees nearly twice his height. Working on a three-acre (1.…

TARAWA (Tourism Authority of Kiribati) — Kiribati’s Minister for Tourism, Commerce, Industry and Cooperative Bootii Nauan affirmed his country’s obligation to sustainable tourism development when he signed the Pacific Leaders Sustainable Tourism Commitment in Tarawa Friday morning. Kiribati’s Minis…

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the labor market remains tight even as demand for labor is cooling amid higher interest rates. Initial claims for state unemployment benefits rose 29,000 to a seaso…

FRANKFURT (Reuters) — The world’s central bankers are caught up in a race to curb inflation that only the Federal Reserve can stop. The U.S. central bank has embarked on its most aggressive policy tightening cycle for four decades, raising interest rates by 3 percentage points since January t…