Anticipating US downturn, Elon Musk details Tesla staff cuts

Anticipating US downturn, Elon Musk details Tesla staff cuts

DOHA, June 21 (Reuters) – Elon Musk, CEO of Tesla (TSLA.O), said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a US recession was more likely than not. His remarks were his most detailed explanation of job cut plans and his … Read more

Biggest rail strike in 30 years brings UK to standstill

Biggest rail strike in 30 years brings UK to standstill

More than 40,000 rail workers set to strike Government under pressure over cost-of-living crisis Unions say strike may start ‘summer of discontent’ LONDON, June 21 (Reuters) – Britain’s biggest rail strike in 30 years kicked off on Tuesday as tens of thousands of staff walked out in a dispute over pay and jobs that could … Read more

Crypto’s latest meltdown leaves punters bruised and bewildered

Crypto's latest meltdown leaves punters bruised and bewildered

LONDON/MUMBAI/ANKARA, June 21 (Reuters) – For Jeremy Fong, US crypto lender Celsius was an ideal place to stash his digital currency holdings – and earn some spending money from its double-digit interest rates along the way. “I was probably earning $100 a week,” at sites like Celsius, said Fong, a 29-year civil aerospace worker who … Read more

Stocks stage small bounce as investors weigh cenbanks’ next moves

Stocks stage small bounce as investors weigh cenbanks' next moves

LONDON, June 20 (Reuters) – Stock markets chalked up modest gains on Monday after last week’s hefty losses as investors braced for a host of US Federal Reserve speakers this week, where they could underline a commitment to fight inflation whatever rate pain required. Trading was thinned by a US holiday. The euro was little … Read more

Fed’s Waller backs another big rate hike for ‘all in’ inflation fight

Fed's Waller backs another big rate hike for 'all in' inflation fight

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, US, June 14, 2022. REUTERS/Sarah Silbiger Register now for FREE unlimited access to Reuters.com Register June 18 (Reuters) – Federal Reserve Governor Christopher Waller on Saturday became the latest US central banker to pledge a whatever-it-takes approach to fighting … Read more

BOJ maintains ultra-low rates, warns it is closely watching yen moves

BOJ maintains ultra-low rates, warns it is closely watching yen moves

BOJ keeps interest rate targets unchanged, as expected BOJ says watching impact of FX moves on economy No change to dovish policy guidance BOJ Gov Kuroda to brief media 0630 GMT TOKYO, June 17 (Reuters) – The Bank of Japan maintained ultra-low interest rates on Friday and its guidance to keep borrowing costs at “present … Read more

Bitcoin sinks to fresh 18-month low as crypto meltdown deepens

Bitcoin sinks to fresh 18-month low as crypto meltdown deepens

LONDON/NEW YORK, June 15 (Reuters) – Bitcoin slumped on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryptocurrency fell as much as 7.8% to $20,079.72 , its lowest since December 2020. It has … Read more

Emergency ECB meeting lifts Europe, Fed ready to go big

Emergency ECB meeting lifts Europe, Fed ready to go big

News of emergency ECB meeting sends Italian markets soaring Market almost fully priced for Fed to hike 75 bps Euro rally knocks dollar off 20-yr peak, US yields off decade top China economic data slightly beat forecasts, still weak LONDON/SYDNEY, June 15 (Reuters) – European markets rallied on Wednesday on news the European Central Bank … Read more

Asian stocks slide as Fed hike fears tip Wall St into bear market

Asian stocks slide as Fed hike fears tip Wall St into bear market

HONG KONG, June 14 (Reuters) – Asian shares slid sharply and the safe-haven dollar held near a two-decade peak on Tuesday after Wall Street hit a confirmed bear market milestone on fears aggressive US interest rate hikes would push the world’s largest economy into recession. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell … Read more

Stocks slide, dollar gains on hot US inflation data

Stocks slide, dollar gains on hot US inflation data

NEW YORK, June 10 (Reuters) – US and European stocks slide while the dollar strengthened on Friday after hot US consumer price data for May raised the likelihood that the Federal Reserve will prolong an aggressive campaign of hiking interest rates to tame inflation. The consumer price index accelerated 1.0% last month after gaining 0.3% … Read more