Analysis-From manual pricing to ChatGPT: How Air India is transforming under Tata

By Aditi Shah and Tim Hepher NEW DELHI (Reuters) - Air India, until recently tied to an antiquated manual pricing system when setting airfares, is shifting to algorithm-based software long used by rivals to help it squeeze out more revenue from each flight. In another sign of the formerly government-owned carrier's whirlwind transformation under its new owner Tata Group, Air India is testing

Stocks head toward winning March as Wall Street's fear falls

NEW YORK (AP) — Stocks closed higher again as more fear evaporates from Wall Street. The S&P 500 added 0.6% Thursday, its fifth gain in the last six days. The benchmark index is headed for a gain in March after struggling in earlier weeks on worries about whether the banking system was cracking under the weight of higher interest rates. Forceful ac...

Fed's Kashkari sees 'more work to do' on inflation

By Ann Saphir (Reuters) -The Federal Reserve has "more work to do" to get inflation back down to its 2% goal, Minneapolis Fed President Neel Kashkari said on Thursday, although he did not say specifically how much further he believes interest rates will need to rise to do the job. "We've seen some real progress" from the Fed's rate hikes so far, Kashkari said at a town hall event livestreamed on

Icahn, Illumina privately discussed settlement before public fight - filing

(Reuters) -Activist investor Carl Icahn and Illumina Inc had weeks-long private negotiations before he started a proxy fight to push the U.S. life sciences firm to unwind its 2021 buyout of Grail, a regulatory filing showed on Thursday. The billionaire proposed a negotiated settlement on March 8 that included two board seats for his nominees and one for a mutually agreed candidate, according to

China to boost regulatory oversight of digital economy -central bank official

By Joe Cash BOAO, China (Reuters) -China will beef up its regulatory oversight of the digital economy, as new technologies, especially new forms of finance, should not be blindly accepted and recognised, a deputy governor of the central bank said on Friday. Digital currencies and newly invented cryptocurrencies, rather than solving problems in finance, can in fact create new challenges, Xuan

Factbox-The Japanese chipmaking equipment manufacturers navigating export curbs

TOKYO (Reuters) - Japan has seen its share of the semiconductor market fall from 50% in the late 1980s to about 10% but still hosts some of the most advanced chipmaking equipment manufacturers, making it relevant to U.S. attempts to curb technology exports to China. The United States in October imposed restrictions on shipments of chipmaking tools to China to slow advances in its chip industry

US Fed lending to banks ticks slightly lower in latest week

By Michael S. Derby WASHINGTON (Reuters) -U.S. Federal Reserve emergency lending to banks was on balance fairly stable at very high levels as the financial system continued to contend with banking sector stresses, central bank data released on Thursday showed. As of Wednesday, banks tapped $88.2 billion from the central bank’s discount window lending facility, versus $110.2 billion on March 22.

In the background, Inditex heiress sets tone for Zara revamp

By Corina Pons and Helen Reid MADRID (Reuters) - A year into chairing the world's biggest fashion retailer, Marta Ortega is trying to shake up Zara owner Inditex's fast-fashion image and draw in more aspirational shoppers, according to analysts and investors. That strategy has already helped Inditex grow sales and profits as the retailer passed on higher costs to consumers through price

White House pushes new rules for mid-sized banks without Congress

By Andrea Shalal and Pete Schroeder WASHINGTON (Reuters) -The Biden administration urged banking authorities to tighten regulation of mid-sized banks, which it said could be pushed through without support from a split Congress. Banks with between $100 billion and $250 billion in assets should hold more liquid assets, increase their capital, submit to regular stress tests and write "living wills"

Chinatowns in Western Canada evolve and renew, both within and outside tradition

Every Thursday to Sunday evening, the wait staff at the Ugly Duckling Dining & Provisions restaurant carefully set knives and forks on chopstick rests at each table. The Ugly Duckling, which opened less than two months ago in Victoria's historic Chinatown, is not a Chinese restaurant. But the fine dining eatery goes out of its way to add touches of...

Fed lending to banks ticks slightly lower in latest week

By Michael S. Derby WASHINGTON (Reuters) - Federal Reserve emergency lending to banks ebbed slightly in the latest week, causing the size of the central bank balance sheet to move down modestly. As of Wednesday, banks tapped $88.2 billion from the central bank’s discount window lending facility, versus $110.2 billion on March 22. Lending via the Fed’s new Bank Term Funding Program moved to $64.4

Ford hikes F-150 Lightning's price again to battle high costs

(Reuters) -Ford Motor Co has raised the base price of its popular F-150 Lightning electric pickup truck again, the automaker's website showed on Thursday, the latest in a series of price hikes aimed at offsetting high costs. Shares of Ford were up 2% in afternoon trade. The base variant of Ford's electric F-150 truck now starts at $59,974, excluding shipping and taxes, up nearly 50% from its

Quebec cracks down on Airbnb after deadly fire as some continue to evade rules

MONTREAL — The Quebec government's crackdown on Airbnb has upended Montreal's short-term rental market, leading some to welcome the changes and others scurrying to evade the new rules. Last week, following a fire in Old Montreal that killed seven people — including six who were staying in unlicensed short-term rentals — Airbnb said it would remove ...

Major public-service union and to begin mediated negotiations with federal government

OTTAWA — The federal government and the Public Service Alliance of Canada, a union representing 165,000 federal public servants, are expected to begin mediated negotiations on Sunday as a possible strike looms. The union announced strike votes for workers in the core public service in January amid a protracted labour dispute, with final votes to be...

Take Five: Springing into action

,(Reuters) - Spring is in the air, the banking crisis appears to have been contained for the time being and it's time to take a look at how the real economy is faring. Next week brings the all-important U.S. monthly jobs report, as well as a final read on business activity in March, a crucial rate decision Down Under and, possibly, the chance for Treasuries and the dollar to regain some stability

Exclusive-Canada's ATCO gives Mexico troubled pipeline after damage award -sources

By Dave Graham MEXICO CITY (Reuters) -Canada's ATCO Ltd has agreed to transfer ownership to Mexico of an unfinished pipeline bogged down in a dispute with the Mexican state power company, two officials told Reuters, marking a rare breakthrough in ongoing tensions over energy. Reuters in October reported that Mexican power utility Comision Federal de Electricidad (CFE) in 2021 had to pay ATCO

TSX ends higher for fifth day on broad-based gains

By Fergal Smith (Reuters) - Canada's main stock index rose on Thursday to its highest closing level in three weeks as easing stress in the global banking supported a broad-based rally heading into the end of the first quarter of the year. The Toronto Stock Exchange's S&P/TSX composite index ended up 103.34 points, or 0.5%, at 19,940.99, its highest closing level since March 9. It was the fifth

Fed's Barkin: No view yet on rate hike appropriate at next meeting

WASHINGTON (Reuters) - Richmond Federal Reserve Bank President Thomas Barkin said on Thursday he had not come to a view yet on what rate increase might be appropriate at the Fed's May 1-2 meeting. "There is a lot of uncertainty about what if anything this bank situation does to consumer confidence, business confidence, business investment, consumer spending, availability of credit ... There are a

BlackBerry posts US$495-million loss in Q4 due to impairment charge

WATERLOO, ON — BlackBerry Ltd. reported a net loss of US$495 million in its fourth quarter, downfrom earning US$144 million a year earlier. The Waterloo, Ont.-based technology company, which reports in U.S. dollars, says earnings per diluted share were negative 85 cents for the quarter ended Feb. 28, down from a three-cent loss a year earlier. The ...

US FAA awards Verizon $2.4 billion contract for telecom network infrastructure

By David Shepardson WASHINGTON (Reuters) - The U.S. Federal Aviation Administration (FAA) said on Thursday it awarded Verizon Communications' business networking unit a contract worth up to $2.4 billion over 15 years as the agency looks to modernize its systems. Verizon will design, build and operate the FAA’s new next-generation communications platform. The telecom company said it will "build

Fed's Kashkari: Banking stress could last longer than many expect

(Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari said on Thursday he is prepared that the banking sector stress touched off by the failures of Silicon Valley Bank and Signature Bank two weeks ago could last longer than many expect. The Fed is watching closely to gauge whether the banking stresses lead to a sustained credit crunch that could slow the economy, Kashkari said at a

Bipartisan US lawmakers introduce bill aimed at Google, Facebook ad clout

WASHINGTON (Reuters) - A bipartisan group of U.S. senators introduced a bill on Thursday aimed at cutting Google and Facebook's clout in online advertising, an early sign that lawmakers will press on with efforts to rein in Big Tech in the new congress. The bill targets Alphabet's Google and Meta's Facebook, as well as and Apple, according to Senator Mike Lee's office. The bill would

Japan to restrict chipmaking equipment exports as it aligns with US China curbs

TOKYO (Reuters) -Japan said on Friday it will restrict exports of 23 types of semiconductor manufacturing equipment, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips. Japan, home to major global chip equipment makers such as Nikon Corp and Tokyo Electron Ltd, did not specify China as the target of the measures, saying equipment makers would

Dollar eyes quarterly drop as rate rise bets recede

By Tom Westbrook and Kevin Buckland SINGAPORE/TOKYO (Reuters) - The dollar tracked toward a second consecutive quarterly loss on Friday, as investors see U.S. interest rates close to peaking and expect the dollar's yield advantage is in decline. A modest boost from a rush to safety around mid-March as banking jitters hit global markets seems to be fading, and the dollar index is down 1.2% for

Ford withdraws petition seeking U.S. approval to deploy self-driving vehicles

By David Shepardson WASHINGTON (Reuters) -Ford Motor Co has withdrawn a petition seeking U.S. regulatory approval to deploy up to 2,500 self-driving vehicles annually without required human controls like steering wheels, according to a letter made public Thursday. The automaker told the National Highway Traffic Safety Administration (NHTSA) it was no longer seeking approval for the petition it

Taiwan says US officials have visited to discuss concerns about chip subsidies

TAIPEI (Reuters) - The United States has sent officials to Taiwan to listen to concerns in the chip industry about the criteria for new U.S. semiconductor subsidies, Taiwan Economy Minister Wang Mei-hua said on Friday. The criteria are worrying companies like Samsung Electronics Co Ltd and SK Hynix Inc, South Korean President Yoon Suk Yeol said on Thursday, a concern shared by the world's leading

Ottawa's move to increase deposit insurance 'a good signal,' economists say

A formal statement by Ottawa that it will consider increasing the amount of money covered by deposit insurance was lauded by some economists, who said the move would further strengthen the Canadian banking system . Buried in the Finance Minister Chrystia Freeland’s budget this week was a statement that government may amend the Canada Deposit Insurance Corporation Act to “provide expanded authorities to increase deposit insurance and related...

White House to midsized banks: boost liquidity, capital, testing

WASHINGTON (Reuters) - The White House on Thursday issued a plan officials say would substantially reduce the risk of another crisis in the banking industry, after U.S. banks failed and a Swiss lender needed a government rescue earlier this month. The plan, which can be accomplished by regulators with their existing powers, mostly would put stricter requirements on larger regional banks,

Euro rises as euro zone countries report inflation data

By Alun John and Tom Westbrook LONDON/SINGAPORE (Reuters) - The euro was set for its best week since mid January on Friday ahead of inflation data that will shape the ECB's interest rate plans, while investor expectations U.S. rates are near peaking meant the dollar headed for a second consecutive quarterly loss. The European common currency was at $1.0883, down 0.2% on the day, but heading for

As Canadians miss out on benefits, Ottawa promises automatic tax filing is on the way

OTTAWA — As some vulnerable Canadians who don't file their taxes miss out on benefits, the Canada Revenue Agency is expected to pilot a new automatic system next year. This week's federal budget said the agency will also present a plan by 2024 to expand the service, following consultations with stakeholders and community organizations. The move tow...

Industry minister to deliver Rogers-Shaw update at press conference today

OTTAWA — Federal Industry Minister François-Philippe Champagne is set to make an announcement this morning about Rogers Communications Inc.'s proposed $26-billion purchase of Shaw Communications Inc. A senior government official, speaking on the condition they not be named in order to discuss matters not yet made public, says the minister will disc...

Ukraine, Finland looking for Canadian help to rebuild economy amid war: ambassadors

OTTAWA — Ukraine's ambassador to Canada is urging Canadian businesses to see her country's eventual recovery as an economic bonanza worth investing in. "We are fighting, we will win the war with your support and then we'll have a big path together to rebuild Ukraine," Yuliya Kovaliv told a Thursday lunch event hosted by corporate groups in Ottawa. ...

Jared Kushner's PE firm was backed by Emirates, Qatar - NYT

(Reuters) - Wealth funds in the United Arab Emirates (UAE) and Qatar have invested hundreds of millions of dollars with former U.S. President Donald Trump's son-in-law Jared Kushner's private equity firm, the New York Times reported on Thursday. The Emiratis invested more than $200 million with Kushner's Affinity Partners, while a Qatari entity also put in a similar sum, the newspaper said,

C$ climbs to 5-week high on 'massive' short covering

By Fergal Smith TORONTO (Reuters) - The Canadian dollar strengthened to a five-week high against its U.S. counterpart on Thursday as a recovery in risk appetite raised pressure on speculators that had added to their bearish bets on the currency in recent weeks. The loonie was trading 0.2% higher at 1.3525 to the greenback, or 73.94 U.S. cents, after touching its strongest level since Feb. 23 at

Explainer-How a massive options trade by a JP Morgan fund can move markets

By Saqib Iqbal Ahmed (Reuters) - A nearly $15 billion JP Morgan fund is expected to reset its options positions on Friday, potentially adding to equity volatility at the end of a strong quarter for U.S. stocks. Analysts have in the past pointed to the JPMorgan Hedged Equity Fund’s quarterly reset roiling markets, and see it as a source of potential volatility during Friday's session. WHAT IS

Global dealmaking sinks to lowest level in over a decade

By Anirban Sen and Andres Gonzalez NEW YORK/LONDON (Reuters) - Global mergers and acquisitions (M&A) activity shrank to its lowest level in more than a decade in the first quarter of 2023, as rising interest rates, high inflation and fears of a recession soured the appetite of companies for dealmaking. M&A volumes during the first quarter slumped 48% to $575.1 billion as of March 30, compared to

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This article was created by StackCommerce. Postmedia may earn an affiliate commission from purchases made through our links on this page. When the stock market is as volatile and intense as it’s been recently, it can be both exciting and terrifying at the same time . Perhaps you’re interested in the potentially significant earnings that could come with buying the dip on a stock poised for a major rebound. Or, maybe you’re a relative newcomer to...

Japan edges closer toward issuing digital yen with plans for new panel

By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) - Japan is stepping up efforts toward issuing a digital yen with the creation of a government advisory panel and the launch of a pilot programme, joining a growing number of countries exploring a central bank digital currency (CBDC). The finance ministry will set up a panel of experts as early as April to discuss the feasibility of issuing a

China to boost regulatory oversight of digital economy -central bank deputy governor

BOAO, China (Reuters) - China will beef up its regulatory oversight of the digital economy, as new technologies, especially new forms of finance, should not be blindly accepted and recognised, a deputy governor of China's central bank said on Friday. Digital currencies and newly invented cryptocurrencies, rather than solving problems in finance, can in fact create new challenges, Xuan Changneng,

Marketmind: Q1 was hard to get a handle on, and a choppy Q2 beckons

A look at the day ahead in European and global markets from Tom Westbrook A lot of investors went in to this year expecting the U.S. interest rate outlook to reveal itself, and for clarity on that front to inform pricing for pretty much everything else. Three months have gone by and it hasn't quite worked out that way. Pulling in one direction is a bank collapse that set interest rate

Oil down marginally amid uncertainty over imminent US economic data

By Sudarshan Varadhan BEIJING (Reuters) -Oil prices were very slightly down in Asian morning trade on Friday as bullish sentiment about Chinese demand and potential Middle Eastern supply disruptions was tempered by uncertainty over U.S. economic data on Friday. Brent futures, which have risen nearly 6% this week, were down 19 cents, or -0.24%, at $79.08 a barrel at 0415 GMT. U.S. West Texas

Tesla's 2022 solar roof installations only 2% of Musk's last target - report

By Akash Sriram (Reuters) -Elon Musk-led Tesla Inc has missed its solar-roof installation targets by a big margin due to stiff competition from GAF Energy and other rivals, according to industry analysis firm Wood Mackenzie. Tesla's average installations per week were 21 in 2022, far lower than the company's 1,000-per-week target for 2021. Musk had not provided a forecast for 2022. The first

Nike faces shareholder proposal on human rights

By Katherine Masters NEW YORK (Reuters) - Activist shareholder platform Tulipshare is calling on Nike to offer more transparency on working conditions in its supply chain. In a shareholder proposal released Thursday, London-based Tulipshare requested a report from Nike on whether its policies effectively address its stated equity goals and human rights commitments. The group, which owns 276

ABC News lays off senior executives in Disney's cost-cutting drive

(Clarifies the timing of the layoffs, which will happen in phases, in first and last paragraphs; not all job cuts happened Thursday) (Reuters) - Walt Disney Co's ABC News laid off several senior executives Thursday, as it restructures its newsroom, two sources confirmed. The reductions are part of Disney's previously announced plan to cut 7,000 positions as it seeks to control costs and become a

Virgin Orbit to lay off about 85% of staff

By Joey Roulette (Reuters) -Rocket maker Virgin Orbit Holdings on Thursday said it was laying off about 85% of staff because it had not been able to raise new investment. Richard Branson's Virgin Group has a controlling interest in Virgin Orbit. Shares of the company fell 38% in after hours trade. About 675 employees will lose their jobs, and the company expects to take related charges of

Oil dips, set for monthly drop, ahead of key U.S. inflation data

By Shadia Nasralla LONDON (Reuters) -Oil prices dipped on Friday, with benchmarks heading for their weakest monthly performances since November, ahead of key U.S. inflation data which could give clues on future interest rate moves and the strength of the dollar. Brent futures, which have risen nearly 5% this week, were down 63 cents, or 0.8%, at $78.64 a barrel at 0824 GMT. U.S. West Texas

Icahn, Illumina discussed settlement before proxy fight - filing

(Reuters) - Activist investor Carl Icahn and U.S. life sciences firm Illumina failed to reach a settlement during weeks-long private negotiations before he began a proxy fight earlier this month, a regulatory filing showed on Thursday. Icahn, who owns 1.4% of Illumina, has been pushing for the company to unwind its buyout of cancer detection test maker Grail and is seeking three board seats. In

Canada's decision on Rogers-Shaw deal may come on Friday

(Reuters) - Canadian Minister of Innovation, Science and Industry Francois-Philippe Champagne is set to rule on Rogers Communications Inc's C$20 billion ($15 billion) deal to buy Shaw Communications Inc on Friday, The Globe and Mail reported on Thursday, citing two sources. The government announced that Champagne will make an announcement on "competitiveness in the telecommunications sector," at

Walmart faces second U.S. lawsuit this week over treatment of workers

By Jonathan Stempel (Reuters) - Walmart Inc was sued on Thursday by the U.S. Equal Employment Opportunity Commission (EEOC), the agency's second lawsuit this week accusing the largest U.S. retailer of discrimination against workers with disabilities. The EEOC said Walmart illegally demoted Calvin Hagan for missing too much work at a Raleigh, North Carolina store because of seizures caused by his

Brazil meal payments overhaul delayed by central bank standoff

By Marcela Ayres BRASILIA (Reuters) - Fresh competition in Brazil's lucrative meal voucher market must wait, according to people familiar with discussions between the Finance Ministry and central bank, which disagree about how to regulate a new system in time for its scheduled launch in May.A law passed in September under former President Jair Bolsonaro allows workers to move their meal credit