News
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Citi to cut 3,500 technology jobs in China as part of global revamp
HONG KONG, June 5 (Reuters) - Citigroup Inc C.N will reduce the number of employees at two of its technology centres in China by about 3,500, the bank said on Thursday, as part of its efforts to simplify and shrink its global tech operations to improve risk and data management.The reduction of staff
Reuters
Thu, Jun 5
ADP Employment and Services PMI Miss Expectations, Trump Urges Powell: "Must Now Lower the Rate"
TradingKey – Just one day after stronger-than-expected job openings data eased concerns about U.S. economic growth, weak ADP employment figures and a surprise contraction in the ISM services sector reignited fears of a slowdown. President Donald Trump once again pressured Federal Reserve Chair...TradingKey
Thu, Jun 5
Japan's 30-year bonds rise after weak auction outcome, in line with expectations
TOKYO, June 5 (Reuters) - Japan's 30-year government bond prices rose after an auction of the notes saw its weakest outcome in one and a half years, in line with market expectations.The bid-to-cover ratio, a measure of demand that gauges the number of bids against the amount of securities on offer,Reuters
Thu, Jun 5
Trillion-Dollar Deficit Tax Bill: Musk Calls for Public Revolt as Trump Pushes Debt Ceiling
TradingKey — U.S. Congress is embroiled in heated debate over Trump’s tax bill that risks ballooning the federal deficit and exacerbating the national debt crisis. The divide has grown so sharp that Elon Musk and President Donald Trump are now publicly at odds—with Musk urging Americans to oppose...
TradingKey
Thu, Jun 5
US auto suppliers say immediate action needed on China rare earths restrictions
WASHINGTON, June 4 (Reuters) - A group representing auto suppliers in the United States called on Wednesday for immediate action to address China's restricted exports of rare earths, minerals and magnets, warning the issue could quickly disrupt auto parts production.Reuters
Thu, Jun 5
China May services activity grows despite US tariff concerns, Caixin PMI shows
BEIJING, June 5 (Reuters) - China's services activity expanded at a slightly faster pace in May, with new orders growing more quickly than in April, though new export orders declined due to uncertainty stemming from U.S. tariffs, a private sector survey showed on Thursday.Reuters
Thu, Jun 5
US STOCKS-Wall Street ends narrowly mixed in choppy trade on weak economic data
NEW YORK, June 4 (Reuters) - U.S. stocks ended mixed on Wednesday, with the benchmark S&P 500 flat, the technology-heavy Nasdaq Composite slightly up and the Dow Jones Industrial Average down as weak data revealed the economic toll taken by President Donald Trump's trade policies.Reuters
Thu, Jun 5
Dollar falls after data disappoints; Trump calls for rate cut
US private payrolls post smallest gain in over two years in MayUS service sector unexpectedly contracts in May; inflation heats upTrump says Fed's Powell must lower interest rate Trump to speak this week with China's Xi amid clash over tariff truceBy Saqib Iqbal AhmedReuters
Thu, Jun 5
Japan April real wages slump for fourth month as inflation bites
Japan April real wages fall 1.8%, marking fourth monthly decline The labour ministry says inflation outpaces wage hikes Analysts fear US tariffs could spoil pay hike momentumMajor companies on average agreed to over 5% pay hikes during talks this springBy Satoshi SugiyamaReuters
Thu, Jun 5
Disney fails to stop YouTube from hiring veteran Connolly
June 4 (Reuters) - A judge in Los Angeles on Wednesday denied Walt Disney's DIS.N request for a preliminary injunction and a temporary restraining order aimed at preventing long-time executive Justin Connolly from joining Alphabet's GOOGL.O YouTube.
Reuters
Thu, Jun 5
Oil settles 1% lower after US data shows large builds in fuel stocks
US gasoline, distillate stocks post big weekly buildsOPEC+ supply rises weigh on sentimentPersistent tariff tensions stalk market By Arathy Somasekhar HOUSTON, June 4 (Reuters) - Oil prices settled down just over 1% on Wednesday after U.S. data showed surprisingly large build in gasoline and ...Reuters
Wed, Jun 4
German stocks rise on tax relief package approval; Europe's STOXX 600 touches one-week high
Airbus shares rise after report of Chinese aircraft ordersGerman cabinet approves tax relief package to boost economyDAX up 0.8%, STOXX 600 up 0.5%By Medha Singh, Sanchayaita Roy and Ragini Mathur June 4 (Reuters) - European stocks closed higher on Wednesday, buoyed by Berlin's approval of ...Reuters
Wed, Jun 4
PRECIOUS-Gold holds ground as jobs data offsets safe-haven demand
Trump calls China's Xi tough, 'hard to make a deal with'Gold may trade in $3,300-$3,400 range in short term - analystBy Brijesh Patel and Anushree Mukherjee June 4 (Reuters) - Gold prices held steady on Wednesday as stronger U.S. jobs data countered safe-haven demand driven by sim...Reuters
Wed, Jun 4
Fed Lifts Asset Cap on Wells Fargo, Concluding Seven-Year Regulatory Oversight
TradingKey - The Federal Reserve announced on Tuesday that Wells Fargo (WFC) has satisfied all conditions of the 2018 regulatory actions, resulting in the lifting of its asset cap. Following the news, Wells Fargo's stock rose 3% and surged over 10% in after-hours trading.
TradingKey
Wed, Jun 4
Tesla Sees 50% Decline in Europe as Musk’s Political Stance Faces Backlash
TradingKey - On Wednesday, research organization New AutoMotive released preliminary data revealing Tesla's dire situation in the European market. In May of this year, Tesla’s new car sales in the UK saw a dramatic year-on-year decline of over 45%, with only 1,758 vehicles sold compared to 3,244 durTradingKey
Wed, Jun 4
