Reuters US Business

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon. In a volatile trading session, equities initially …

Wall Street drops as Powell signals Fed not close to done Read More »

By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell acknowledged on Wednesday the U.S. central bank’s latest ethics stumbles and said it was working hard to make sure it meets its new, very stringent standards. “The public’s trust is really the Fed’s, and any central bank’s, most important asset,” Powell said …

Powell says Fed officials recommitted to meeting new ethics standards Read More »

By Victoria Klesty OSLO (Reuters) -Shipping group Maersk warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations. “It is clear that freight rates have peaked and started to normalize during the quarter, driven …

Maersk sees container demand slowing as recession looms Read More »

(Reuters) -Washington State Attorney General Bob Ferguson filed a lawsuit on Tuesday to block grocery chain Albertsons Cos Inc from paying dividends to shareholders before closure of its proposed merger with supermarket operator Kroger Co. The $4 billion payout to shareholders “risks severely undercutting the grocery giant’s ability to compete during the lengthy time period …

Washington state sues to block Albertsons’ $4 billion payout to shareholders Read More »

(Reuters) – Australia’s ‘Big Four’ banks will raise their home loan rates by 25 basis points this month, they said on Tuesday, passing on the full quarter-point interest rate hike announced by the central bank a day earlier. The move is in sync with the Reserve Bank of Australia’s hike, seventh in as many months, …

Australia’s ‘Big Four’ banks lift home loan rates to match central bank move Read More »

(Reuters) -United Airlines pilots overwhelmingly voted against a tentative contract, the union representing the workers said on Tuesday, saying the proposal fell short of what members were seeking. The Air Line Pilots Association (ALPA) said 94% of the nearly 10,000 pilots voted to reject the contract offer and said pilots would immediately begin a series …

United Airlines pilots vote against new contract offer Read More »

By Catarina Demony and Sergio Goncalves LISBON (Reuters) – The chief executive of Binance, the world’s largest crypto exchange, said he was “extremely supportive” of freedom of speech and that was the main reason why his company decided to invest $500 million into Elon Musk’s buyout of Twitter Inc. Binance’s Changpeng Zhao, known as CZ, …

Binance CEO says support for free speech is reason he invested in Twitter Read More »

(Reuters) -Lithium producer Livent Corp on Tuesday cut the top end of its 2022 earnings and sales forecast, citing inflation and other macroeconomic pressures weighing on its output of the electric vehicle battery metal. Shares fell 2.5% in after-hours trading following the news, despite Livent posting better-than-expected quarterly profit. “Lithium demand has remained robust despite …

Livent trims lithium sales and profit forecast; shares slip Read More »