BERLIN (Reuters) – German retailers are suffering from the impact of a fourth wave of the coronavirus pandemic, half of manufacturers are expecting price increases and industry export expectations have fallen, Ifo economist Klaus Wohlrabe said on Friday. “Father Christmas has fewer presents for the German economy this time, partly because not everything can be …
Ifo economist says virus, bottlenecks hit German economy Read More »
A look at the day ahead from Saikat Chatterjee. In central bank speak, this was a week when policymakers decisively moved a step closer to unwinding their pandemic-era stimulus from the global financial system. The Fed unveiled an accelerated timetable for policy tightening, the Bank of England surprisingly raised interest rates while the European Central …
By William Schomberg, Balazs Koranyi and Howard Schneider (Reuters) -Britain became the first G7 economy to hike interest rates since the onset of the pandemic on Thursday, with the U.S. Federal Reserve also signalling plans to tighten in 2022 but the European Central Bank only slightly reining in stimulus. The different paths taken by major …
BoE hikes, Fed pivots, ECB rolls slow as pandemic exits diverge Read More »
By Brendan Pierson, Mike Spector and Maria Chutchian NEW YORK (Reuters) – A federal judge overturned a roughly $4.5 billion settlement that legally shielded members of the Sackler family who stand accused of helping fuel the U.S. opioid epidemic, a decision that threatened to upend the bankruptcy reorganization of their company, OxyContin maker Purdue Pharma …
U.S. judge tosses $4.5 billion deal shielding Sacklers from opioid lawsuits Read More »
By Paulina Duran SYDNEY (Reuters) – Australia’s second-largest lender, National Australia Bank, defended its environmental credentials on Friday as investors at an annual meeting complained its emissions disclosures are less complete than its Big Four rivals. Almost half of all questions put to Chairman Philip Chronican at the meeting came from investors and shareholder groups …
Australia’s NAB faces shareholder pressure over environmental credentials Read More »
By Hannah Lang and Katanga Johnson WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau (CFPB) on Thursday asked five “buy-now, pay-later” companies for information on their business practices, amid concerns that the financing products are putting consumers at risk. The agency issued the order to Affirm Holdings, Afterpay Ltd, Klarna, PayPal and Zip Co …
U.S. CFPB asks ‘buy-now, pay-later’ companies for data on products, practices Read More »
By Jan Wolfe and Helen Coster WASHINGTON (Reuters) – Fox News Network on Thursday lost its attempt to dismiss a $1.6 billion lawsuit brought by Dominion Voting Systems Inc, a voting machine company that says Fox defamed it by amplifying conspiracy theories about its technology. In a written ruling, Delaware court judge Eric Davis said …
Fox News loses bid to dismiss Dominion defamation lawsuit over election coverage Read More »
By Praveen Paramasivam (Reuters) -Kellogg Co and the union representing striking workers at its U.S. breakfast cereal plants have reached a tentative agreement on a new five-year contract that could pave the way for the employees to return to work two days after Christmas. The 1,400 workers have been on strike since Oct. 5 and …
Striking Kellogg workers could return after Christmas as tentative deal reached Read More »
By Lisa Baertlein LOS ANGELES (Reuters) – U.S. delivery firm FedEx Corp reinstated its original fiscal 2022 forecast on Thursday, even as persistent labor woes chipped away profits ahead of the peak holiday season when the number of packages it handles often doubles. Shares in the company, which also reported flat year-over-year adjusted profit for …
FedEx reinstates 2022 profit target, shares soar Read More »
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp is prepared to bid on Friday for new blocks in Brazil’s deep-water oil fields, a focus area for its oil and gas production growth, people familiar with the matter said. Any bid would mark its first big investment since it decided to resume spending after a …
Exxon prepares to bid for new oil blocks in Brazil -sources Read More »
