By Andrea Shalal WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai on Thursday will call for continued work to redesign global supply chains to emphasize resilience and a more diverse set of economies producing steel, aluminum and other goods. In a speech at the National Press Club, Tai will explain how decades of trade policies …
U.S. trade chief Tai calls for more diverse, resilient supply chains Read More »
By Bhanvi Satija and Leroy Leo (Reuters) -Health insurer stocks dropped sharply on Wednesday after UnitedHealth Group said its costs were on the rise due to an increase in surgeries among older adults. Shares of UnitedHealth, the largest U.S. healthcare provider by market value, closed down 6.4% at $459.86, wiping out roughly $29 billion from …
Health insurers slammed after UnitedHealth says more surgeries driving up costs Read More »
(Reuters) – Lennar Corp on Wednesday raised its full-year forecast for home deliveries, as the homebuilder benefits from upbeat demand that far outpaced supply. Shares of the company were up nearly 3% at $118 aftermarket. Homebuilders are benefiting from the lack of existing home inventory and pent up demand they were unable to meet in …
Homebuilder Lennar raises full-year forecast for home deliveries Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices fell more than expected in May as the costs of energy goods and food declined, signaling that inflation pressures were abating throughout the economy and could eventually provide relief to consumers. The report from the Labor Department on Wednesday also showed the annual increase in producer …
US producer inflation subsides as energy, food prices drop Read More »
By Chavi Mehta and Aditya Soni (Reuters) – Tesla’s record 13-day streak of gains finally came to an end on Wednesday, as the stock closed down just a smidgen after a stretch that saw the U.S. automaker add more than $200 billion to its value. During the streak, Tesla shares rose by more than 40%, …
Tesla shares finally snap record 13-day win streak that added $200 billion in value Read More »
(Reuters) – Bitcoin dropped 3.65% to $24,987 at 2103 GMT on Wednesday, losing $947 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 19.5% from the year’s high of $31,035 on April 14. Ether, the coin linked to the Ethereum blockchain network, dropped 5.36% to $1,646.1, losing $93.3 from its previous …
NEW YORK (Reuters) -Citigroup Inc in the second quarter will book severance costs associated with around 1,600 job cuts, Chief Financial Officer Mark Mason said on Wednesday. Speaking at a conference in New York, Mason said the bank’s expenses in the second quarter will be $300 million to $400 million higher than the first quarter, …
Citi CFO says expenses will grow on Q2 as consequence of 1,600 headcount reduction Read More »
By Michael S. Derby WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell said on Wednesday that financial conditions are likely to allow the central bank to press forward with the drawdown of its massive balance sheet through the remainder of the year. As the Treasury moves toward selling massive amounts of debt to rebuild its …
Fed’s Powell appears to see plenty of room to run on balance sheet drawdown Read More »
(Reuters) -Target’s move to pull some LGBTQ-themed merchandise from stores following customer backlash “is wrong,” New York Attorney General Letitia James said in a tweet on Tuesday and urged the retailer to reverse its decision. At least 14 New York officials have signed a letter regarding Target’s decision, according to James’s tweet. Target said last …
Target’s move to pull some Pride merchandise is ‘wrong’, New York AG says Read More »
By Noel Randewich and Sruthi Shankar (Reuters) – U.S. stocks ended mixed on Wednesday after the Federal Reserve kept U.S. interest rates unchanged but signaled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year. Trading was choppy and volume was heavy …
US stocks end mixed after Fed signals more rate hikes to come Read More »
