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By David Lawder WASHINGTON (Reuters) -The White House on Tuesday revised down its projected fiscal 2022 deficit to $1.032 trillion, a $383 billion reduction from its budget forecast in March, reflecting stronger-than-expected revenues offset by new spending and technical re-estimates of healthcare and other outlays. The White House’s mid-session budget review includes the impact of …

White House cuts FY 2022 budget deficit forecast as revenues rise Read More »

(Reuters) – Goldman Sachs said on Tuesday it expects Federal Reserve Chair Jerome Powell to reiterate the case for slowing the pace of tightening, when he speaks at the annual Jackson Hole symposium on Friday. In a research note, Goldman economists said the message will be the same as laid out in his July news …

Goldman sees Powell sticking to July tightening message at Jackson Hole Read More »

By Lucia Mutikani WASHINGTON (Reuters) – Sales of new U.S. single-family homes plunged to a 6-1/2-year low in July as persistently high mortgage rates and house prices further eroded affordability. The report from the Commerce Department on Tuesday added to a stream of weak housing data, and suggested that the Federal Reserve’s aggressive monetary policy …

U.S. new home sales tumble to 6-1/2-year low; prices still high Read More »

(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – Russia’s leading internet firm Yandex on Tuesday said it had agreed to sell its news aggregator and yandex.ru homepage to rival VK in a move likely to further limit Russians’ access to independent media. The …

Russia tightens grip on media as Yandex sells homepage, news to rival VK Read More »

HOUSTON (Reuters) – A U.S. court upheld a tribunal’s $8.75 billion award to U.S. oil producer ConocoPhillips over the expropriation of its Venezuelan oil assets, granting a default judgment in the case on Friday. The decision gives the U.S. company new authority to collect on a 2019 award by a World Bank tribunal. The award …

U.S. court upholds Conoco’s $8.7 billion award for loss of Venezuela assets Read More »

(Reuters) -Zoom Video Communications Inc on Monday cut its annual profit and revenue forecasts as demand for the video-conferencing platform cools off from pandemic highs, sending its shares down over 7% in extended trading. Analysts have raised concerns about the company’s prospects as competing platforms such as Microsoft’s Teams, Cisco’s WebEx and Google’s Meet fight …

Zoom tempers annual profit, revenue outlook as demand falters Read More »

By Jonathan Stempel NEW YORK (Reuters) – A U.S. federal judge on Monday rejected Goldman Sachs Group Inc’s bid to dismiss most of a 12-year-old class action alleging widespread bias against women in pay and promotions, and said the case will finally go to trial next June. U.S. District Judge Analisa Torres in Manhattan disagreed …

Goldman Sachs’ long-running gender bias lawsuit set for June 2023 trial Read More »

(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever The outlook for Asian markets on Tuesday is pretty bleak, as investors digest Wall Street’s battering and surge in global bond yields the day before, and look nervously ahead to PMI data from Australia and Japan. Indonesia’s central bank could also …

Marketmind: Global gloom descends on Asia Read More »