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Nepal’s ruling coalition in turmoil as deputy PM and 3 other ministers quit

By Gopal Sharma KATHMANDU (Reuters) – Nepal’s ruling coalition was in turmoil on Saturday after the prime minister said he planned to support a presidential candidate from an opposition party, a decision that prompted the deputy prime minister and three other ministers to resign. Political analysts said the moves did not suggest the fledgling government …

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Yellen says she will talk deficit-reduction with Republicans, not debt limit

By David Lawder BENGALURU (Reuters) – U.S. Treasury Secretary Janet Yellen said on Saturday she was willing to negotiate with Republicans in Congress over the Biden administration’s budget proposal to be unveiled next month – but not as a condition of raising the debt ceiling. Yellen told Reuters in an interview that the Biden budget …

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Stellantis CEO Tavares’ 2022 pay fell 14% to $15.7 million

(Reuters) – Stellantis CEO Carlos Tavares’ 2022 pay fell 14% to 14.9 million euros ($15.71 million), the maker of Fiat, Ram and Peugeot vehicles said in a filing on Friday. Tavares did not receive a retention bonus in 2022, compared with a bonus of about 2 million euros in 2021, the filing showed. Stellantis reported …

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Germany’s Scholz committed for Free Trade deal between India, EU

By Rupam Jain and Tom Sims NEW DELHI/BERLIN (Reuters) -German Chancellor Olaf Scholz said on Saturday that he and India’s Prime Minister Narendra Modi were committed to sealing a free trade deal between India and the European Union (EU). “It’s an important topic and I’ll get personally involved,” Scholz said after his meeting with Modi …

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G20 tussles over Ukraine war as West steps up sanctions

By Shivangi Acharya and David Lawder BENGALURU (Reuters) – Finance leaders of the world’s top economies sought on Friday to bridge differences over how to deal with Russia following its invasion of Ukraine a year ago, as the West stepped up sanctions against Moscow. U.S. Treasury Secretary Janet Yellen accused Russian officials at the two-day …

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U.S. targets Russia with sanctions, Moscow says measures won’t work

By Steve Holland, Jonathan Landay and Andrea Shalal WASHINGTON (Reuters) -The United States marked the first anniversary of Russia’s invasion of Ukraine on Friday with $2 billion in weaponry for Kyiv and new sanctions against Russia aimed at undermining Moscow’s ability to wage war. U.S. President Joe Biden’s administration unveiled the sanctions as the Group …

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Wall St ends sharply down, posts biggest weekly drop of 2023

By David French (Reuters) – Wall Street’s main indexes posted their biggest weekly drop of 2023 after sharp losses on Friday, as investors braced for the possibility of more aggressive rate hikes from the U.S. Federal Reserve as U.S. economic data pointed to resilient consumers. For the blue-chip Dow Jones Industrial Average, the 3% fall …

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Under pressure, Alex Murdaugh testifies to own theory in South Carolina murder trial

By Nathan Layne (Reuters) -Richard “Alex” Murdaugh, the disbarred South Carolina lawyer on trial for the murder of his wife and son, said on Friday that he believed someone angry about a deadly boating accident had committed the crimes, floating an alternative theory for the jury as two days of dramatic testimony came to a …

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Boeing shares fall after new Dreamliner delivery halt

By Abhijith Ganapavaram and Valerie Insinna (Reuters) -Shares of Boeing Co fell nearly 5% on Friday after the U.S. planemaker temporarily halted deliveries of its 787 Dreamliner jets over a documentation issue related to a fuselage component. Boeing, after reviewing certification records, on Thursday said it “discovered an analysis error by our supplier related to …

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Further Fed hikes expected after data dashes ‘disinflation’ hopes

By Michael S. Derby and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) -Expectations that the U.S. Federal Reserve will need to push interest rates higher and keep them elevated longer than previously projected rose on Friday after data showed a key inflation gauge accelerated last month. Even so, Fed policymakers speaking on Friday did not push …

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