By Sinéad Carew and Shristi Achar A (Reuters) – The S&P 500 index closed slightly higher on Wednesday as investors grappled with mixed messages from Federal Reserve Chair Jerome Powell and U.S. economic data ahead of upcoming labor and inflation reports that are expected to determine the central bank’s future rate hiking path. In his …
S&P 500 barely gains as investors eye upcoming jobs data, rate hikes Read More »
(Reuters) – Uber Technologies Inc is exploring whether to spin off its Uber Freight logistics unit in a sale or as a separate publicly traded firm, Bloomberg News reported on Wednesday, citing people familiar with the matter. The company did not immediately respond to a Reuters request for comment. (Reporting by Eva Mathews in Bengaluru; …
Uber explores logistics unit sale, IPO – Bloomberg News Read More »
By David Shepardson and Valerie Insinna WASHINGTON (Reuters) -Southwest Airlines Chief Executive Bob Jordan said on Wednesday the carrier is not counting on deploying the Boeing MAX 7 plane this year, which is still awaiting certification from the Federal Aviation Administration (FAA). “We’re dependent on Boeing. And there’s progress. It’s about six months between when …
Southwest CEO says airline not counting on deploying Boeing MAX 7 jets in 2023 Read More »
By David Morgan WASHINGTON (Reuters) -U.S. House Republicans put a spotlight on the government’s $31.4 trillion debt in a closed-door meeting on Wednesday, while President Joe Biden pledged more aggressive action on the federal deficit, a day before he was due to unveil his 2024 spending plan. Democrats and Republicans were expected to hear from …
U.S. House focuses on debt as Biden proposes $3 trillion in deficit cuts Read More »
By Dietrich Knauth (Reuters) – Bankrupt crypto lender Celsius Network on Wednesday revealed that it was speaking to another potential buyer and will seek additional bids, despite having an offer in hand from asset manager NovaWulf Digital Management. Celsius attorney Chris Koenig said at a hearing in bankruptcy court in Manhattan that the company remains …
Celsius Network remains open to other bids after NovaWulf offer Read More »
By Fergal Smith TORONTO (Reuters) -The Canadian dollar weakened on Wednesday to a near five-month low against its U.S. counterpart, as the Bank of Canada paused its tightening campaign in a move that contrasted with the Federal Reserve’s shift this week to a more hawkish message. The Bank of Canada left its key overnight interest …
Canadian $ hits near 5-month low as BoC pauses rate hikes Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings fell less than expected in January and data for the prior month was revised higher, pointing to persistently tight labor market conditions that likely will keep the Federal Reserve on track to raise interest rates for longer. But the Labor Department’s monthly Job Openings and Labor …
US job openings stay elevated as labor market remains tight Read More »
By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell on Wednesday reaffirmed his message of higher and potentially faster interest rate hikes, but emphasized that debate was still underway with a decision hinging on data to be issued before the U.S. central bank’s policy meeting in two weeks. “If – and …
Fed still up in the air on whether to accelerate rate hikes, Powell says Read More »
By Lindsay Dunsmuir (Reuters) -U.S. economic activity increased slightly from January through late February and inflation pressures remained widespread, but businesses reported a moderation in price increases that they expect to continue this year, the Federal Reserve said in a report on Wednesday. The U.S. central bank released its latest temperature check on the state …
US businesses see moderation in inflation ahead, Fed survey shows Read More »
(Reuters) -Volkswagen is waiting to hear what Europe’s response to the U.S. Inflation Reduction Act will be before progressing with plans to build further battery plants in Europe, the company said on Wednesday. The Financial Times previously reported that Volkswagen was pausing plans for a battery plant in eastern Europe, the next expected plant in …
Volkswagen pauses on Europe battery plants, awaiting EU response to IRA Read More »
