Updated - Squid Business

India protests UK diplomat’s visit to Pakistan-controlled Kashmir

MUMBAI (Reuters) -India said on Saturday it had lodged a protest over a senior British diplomat’s visit to Pakistan-controlled Kashmir, saying the trip this week had infringed on India’s “sovereignty and territorial integrity”. Kashmir is claimed in full, but controlled only in part, by nuclear-armed India and Pakistan, which have fought two wars and engaged …

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India, US seek to bolster trade ties, work together on critical minerals

By Shivangi Acharya and Mayank Bhardwaj NEW DELHI (Reuters) – India and the United States have agreed to bolster trade ties and deepen cooperation in areas such as critical minerals, the United States Trade Representative Katherine Tai said on Saturday. India’s trade minister Piyush Goyal and Tai held their annual trade policy talks in New …

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US FAA extends Boeing MAX 9 grounding for new safety checks

By David Shepardson and Allison Lampert WASHINGTON (Reuters) – The U.S. aviation regulator on Friday extended the grounding of Boeing 737 MAX 9 airplanes indefinitely for new safety checks and announced it will tighten oversight of Boeing itself after a cabin panel broke off a new jet in mid-flight. As United Airlines and Alaska Airlines …

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Exclusive-Shein seeks China’s permission for US IPO -sources

By Julie Zhu and Anirban Sen HONG KONG/NEW YORK (Reuters) – Shein is seeking Beijing’s nod to go public in the U.S., two sources with knowledge of the matter said, highlighting the limits of the fashion company’s efforts to present itself as global rather than a Chinese company. The move could further complicate Shein’s listing …

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Ecuador’s Noboa seeks tax hike to fund security

By Alexandra Valencia QUITO (Reuters) -The administration of Ecuadorean President Daniel Noboa has asked lawmakers to weigh an increase in value added tax (VAT) to finance efforts to combat crime gangs, as the armed forces increased operations in violent areas on Friday. A dramatic spike in violence this week – including the on-air storming of …

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Stocks end little changed as earnings offset inflation data

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks closed barely changed on Friday, after wavering between modest gains and losses, as mixed bank earnings offset cooler-than-expected inflation news that buoyed hopes for interest-rate cuts from the Federal Reserve. On Friday, data showed U.S. producer prices unexpectedly fell in December as the cost of goods such …

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Biden confident in Pentagon’s Austin despite judgment lapse

By Nandita Bose and Trevor Hunnicutt EMMAUS, Pennsylvania (Reuters) -U.S. President Joe Biden said on Friday that he has confidence in Defense Secretary Lloyd Austin despite what Biden agreed was a lapse in judgment by the Pentagon chief over his secret hospitalization. Biden spoke to reporters in Pennsylvania, a hotly contested state in the 2024 …

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Wells Fargo warns of lower interest income in 2024, shares drop

By Noor Zainab Hussain, Manya Saini and Carolina Mandl (Reuters) -Wells Fargo on Friday posted higher fourth-quarter profit, beating analysts’ expectations as it cut costs. But the lender warned that its net interest income (NII) could fall 7% to 9% this year, sending shares down more than 3%. “We expect net interest income to decline …

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Tesla, Volvo Car pause output as Red Sea shipping crisis deepens

By Victoria Waldersee, Anna Ringstrom and Marie Mannes BERLIN/STOCKHOLM (Reuters) -Automakers Tesla and Geely-owned Volvo Car said they were suspending some production in Europe due to a shortage of components, the first clear sign that attacks on shipping in the Red Sea are hitting manufacturers in the region. The United States and Britain launched a …

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US airlines cancel over 2,000 flights due to massive winter storm

(Reuters) -Airlines in the United States canceled more than 2,000 flights on Friday after a massive winter storm knocked out power and affected businesses in 12 states ahead of a likely brutal freeze over the weekend. A total of 2,058 flights were canceled and 5,846 flights were delayed as of 5.30 p.m. ET, according to …

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