Reuters US Business

By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings surged in October while hiring decreased, suggesting a worsening worker shortage, which could hamper employment growth and the overall economy. The Labor Department’s monthly Job Openings and Labor Turnover Survey, or JOLTS report, on Wednesday also showed a steady decline in layoffs, another sign that the …

U.S. job openings jump to 11 million; fewer workers voluntarily quitting Read More »

By Rajesh Kumar Singh and Aishwarya Nair (Reuters) – Southwest Airlines Co said on Wednesday it was expecting to be profitable in the fourth quarter on the back of stronger travel demand and fares. It had previously forecast a loss for the quarter due to mounting costs. The Texas-based carrier also said it expects to …

Southwest Airlines expects to be profitable in fourth quarter on stronger travel demand Read More »

By Pete Schroeder and Katanga Johnson WASHINGTON (Reuters) – Top executives from six major cryptocurrency companies including Coinbase and Circle on Wednesday urged Congress to provide clearer rules for the booming $3 trillion industry, but warned that overly tough restrictions would push it overseas. The U.S. House of Representatives Financial Services Committee hearing marked the …

Crypto executives urge light touch as Congress mulls new regulation Read More »

By Paresh Dave and Hyunjoo Jin CHANDLER, Ariz. (Reuters) – Alphabet Inc’s Waymo risks losing its lead in the U.S. race to prove robotaxis are a viable business as it sticks to a limited service and rivals backed by automakers near their own launches. Companies including Ford Motor Co’s Argo AI and General Motors Co’s …

Robotaxi race opens up as top contender Waymo in low gear in Arizona Read More »

By Elizabeth Culliford (Reuters) – Rohingya refugees from Myanmar are suing Meta Platforms Inc, formerly known as Facebook, for $150 billion over allegations that the social media company did not take action against anti-Rohingya hate speech that contributed to violence. A U.S. class-action complaint, filed in California on Monday by law firms Edelson PC and …

Rohingya refugees sue Facebook for $150 billion over Myanmar violence Read More »

By Ben Klayman DETROIT (Reuters) – Volkswagen AG’s Americas chief sees the global chip shortage lasting into the third quarter of next year, but believes the auto industry will maintain the discipline that has led to strong vehicle pricing and corporate profits even when the flow of semiconductors returns to normal. The COVID-19 shutdown last …

VW Americas CEO sees chip shortage lasting into 2022, but industry protecting margins Read More »

(Reuters) – U.S. Senate Banking Committee Chair Sherrod Brown expects to wait until January to hold hearings on President Joe Biden’s nominees to the top two Federal Reserve positions, according to the Ohio senator’s office. Biden last month nominated Fed Chair Jerome Powell to a second four-year term as head of the U.S. central bank …

Senate panel likely to hold hearings for Fed’s Powell, Brainard next month Read More »

By Julie Gordon and David Ljunggren OTTAWA (Reuters) – The Bank of Canada on Wednesday held its key overnight interest rate unchanged, as expected, and said inflation was broadening even as it warned that the Omicron coronavirus variant has created “renewed uncertainty.” The central bank, in a regular rate decision, left its key overnight interest …

Bank of Canada keeps interest rates unchanged, warns of Omicron uncertainty Read More »

By Foo Yun Chee and Gwénaëlle Barzic BRUSSELS/PARIS (Reuters) – French waste and water management companies Veolia and Suez are set to secure EU antitrust approval for their 13 billion euro ($14.7 billion) tie-up, which will help them compete with Chinese rivals, people familiar with the matter said on Wednesday. The deal, agreed in April, …

Exclusive: Veolia, Suez $14.7 billion tie-up to win EU antitrust approval Read More »