By Lindsay Dunsmuir and Ann Saphir (Reuters) – The Federal Reserve’s commitment to reining in 40-year-high inflation is “unconditional,” U.S. central bank chief Jerome Powell told lawmakers on Thursday, even as he acknowledged that sharply higher interest rates may push up unemployment. “We really need to restore price stability … because without that we’re not …
Fed’s inflation fight is ‘unconditional,’ Powell says Read More »
By Divya Rajagopal TORONTO (Reuters) – Canada’s competition bureau is expected to ask Rogers Communications Inc to sell Shaw Communications Inc’s cellular business to overcome antitrust concerns presented by Rogers’ C$20 billion ($15.4 billion) acquisition of Shaw, two sources familiar with the matter told Reuters on Thursday. Canada’s competition bureau has blocked Rogers’ proposed purchase …
Exclusive-Rogers-Shaw M&A hinges on Shaw Mobile sale, sources say Read More »
By Lewis Krauskopf, Devik Jain and Sruthi Shankar (Reuters) – Wall Street’s main indexes posted solid gains on Thursday, fueled by strong performance from defensive and tech shares that outweighed declines for economically sensitive groups as worries persisted about a potential recession. The benchmark S&P 500 swung between positive and negative during the session, but …
Wall Street posts solid gains, as defensives, tech shine Read More »
By Jonathan Stempel (Reuters) -A U.S. appeals court on Thursday threw out a more than $2.75 billion award against Cisco Systems Inc, saying the trial judge should have disqualified himself after learning that his wife owned Cisco stock. The 3-0 decision by the U.S. Federal Circuit Court of Appeals was also a defeat for Centripetal …
Cisco wins reversal of $2.75 billion damages award because judge’s wife owned stock Read More »
By Jarrett Renshaw and Nandita Bose WASHINGTON (Reuters) -U.S. President Joe Biden on Wednesday called for a three-month suspension of the federal gasoline tax to combat record prices, but opposition from lawmakers within his own party suggests the request may never be met. American families paying much more for gasoline deserve some financial relief, Biden …
Biden asks Congress for gas tax holiday to lower record pump prices Read More »
By Valentina Za LONDON (Reuters) -Monte dei Paschi di Siena (MPS) said it would tap taxpayers and investors for 2.5 billion euros ($2.6 billion) in cash to fund its latest turnaround efforts as the Italian state-owned bank seeks to triple its net profit in the next three years. Italy owns 64% of the world’s oldest …
Monte dei Paschi plans to raise 2.5 billion euros for latest turnaround plan Read More »
By Steve Scherer OTTAWA (Reuters) -The G7 is likely to discuss the fate of a Russian turbine blocked in Canada and blamed for reducing gas supplies to Germany, though the bloc may not reach a solution by the end of the meeting, Canada’s Natural Resources Minister said on Wednesday. “If you talk to the Germans, …
(Reuters) – New Zealand’s Fonterra said on Thursday it expects to pay a higher price to farmers for milk supply next year due to a jump in dairy demand and a strong U.S. dollar. The dairy firm expects to pay between NZ$8.75 and NZ$10.25 per kilogram of milk solid (kgMS) in the 2022-2023 financial year, …
NZ’s Fonterra to pay higher prices for milk to farmers in 2022/23 Read More »
By Ernest Scheyder (Reuters) – Piedmont Lithium Inc’s first steps toward securing lithium supplies will be in Quebec or Ghana, not the United States, as an intensifying North Carolina regulatory review delays the miner’s goal of anchoring America’s electric vehicle battery renaissance. The delay has forced Piedmont to expand its strategy beyond its proposed North …
Piedmont Lithium looks abroad amid North Carolina uncertainty Read More »
By Jonathan Stempel NEW YORK (Reuters) -U.S. prosecutors on Wednesday added a new wire fraud charge to their criminal case accusing Trevor Milton, the founder and former chief executive of Nikola Corp, of defrauding investors by lying about the electric- and hydrogen-powered truck maker. The new charge concerns Milton’s alleged effort to defraud the seller …
Nikola founder Trevor Milton faces new fraud charge Read More »
