(Reuters) -HSBC has appointed Steve Hughes as CEO and head of Banking for Australia and New Zealand, effective January 1, 2026, a company spokesperson said on Thursday. Hughes, who joined HSBC in 2015, has led the wholesale banking division for Australia and New Zealand since January 2023. He previously spent more than 20 years at…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) -Treasury Secretary Scott Bessent on Sunday said the 43-day government shutdown caused an $11 billion permanent hit to the U.S. economy, but he was optimistic about growth prospects next year given easing interest rates and tax cuts. Bessent told NBC’s “Meet the Press” program that parts of…
(Corrects name of cybersecurity expert cited in paragraph 7) By Raphael Satter WASHINGTON (Reuters) -Salesforce said Thursday it is investigating “unusual activity” involving Gainsight-published applications that may have exposed customer data. In a brief statement published to its status portal, Salesforce said the Gainsight-published applications, which are installed and managed by customers “may have enabled…
By Gregor Stuart Hunter and Rae Wee SINGAPORE (Reuters) -A stubbornly weak yen has Japan on the cusp of intervening in the currency market for the third time in roughly as many years, but analysts say it’s likely to be ineffective and authorities must tread carefully to avoid triggering a fresh selloff. Confounding expectations of…
By Dan Catchpole and Shivansh Tiwary (Reuters) -Electric aircraft maker BETA Technologies said on Thursday it is partnering with Near Earth Autonomy to develop uncrewed aircraft for the military, with flight testing slated to begin in the first half of 2026. Development and full demonstration of the autonomous system should take up to a year…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. factory activity slowed to a four-month low in November as higher prices because of tariffs on imports restrained demand, leading to a piling up of unsold goods that could hinder growth in the overall economy. Relief for manufacturers is unlikely to come soon as the University of Michigan’s Surveys…
By Siyanda Mthethwa JOHANNESBURG (Reuters) -Walmart opened its first store in South Africa on Saturday, marking the U.S. retail giant’s debut on the African continent as it seeks a stake in a competitive market. More than a hundred shoppers queued for hours outside the store to take advantage of Walmart’s “Everyday Low Prices” and shop…
By Michael S. Derby (Reuters) -Federal Reserve Governor Stephen Miran said on Wednesday that easing financial firms’ regulatory burden could allow the U.S. central bank to shrink the size of its balance sheet again in the future. “As we make more progress peeling back regulations, I expect the optimal level of reserves may drop below…
By Sarah N. Lynch WASHINGTON (Reuters) -Months before the U.S. military began launching airstrikes against suspected drug vessels, former Justice Department No. 2 official Emil Bove told employees the government should just “sink the boats” rather than prosecute the people on board, three witnesses told Reuters. Bove, the former acting deputy attorney general, made similar…
By Marina Bobrova and Anton Kolodyazhnyy MOSCOW (Reuters) -Russian President Vladimir Putin said on Friday that U.S. proposals for peace in Ukraine could be the basis of a resolution of the conflict but that if Kyiv turned down the plan then Russian forces would advance further. U.S. President Donald Trump said he was giving Ukraine…
