By Jessica DiNapoli NEW YORK (Reuters) -Bottler Coca-Cola HBC AG and its existing customers in Russia are “in the process of depleting stock,” Coca-Cola Co said in a statement, after Reuters reported that Coke was for sale at a McDonald’s Corp franchise in St. Petersburg. Once the stock is depleted, Zug, Switzerland-based Coca-Cola HBC, an …
Coke bottler Coca-Cola HBC depleting stock in Russia Read More »
PARIS (Reuters) -McDonald’s has agreed to pay around 1.245 billion euros ($1.29 billion) in fines and back taxes to settle a tax dispute in France, a judge said on Thursday. The case centered on allegations, which first surfaced in 2014, that the giant U.S. burger chain diverted profits made in France to Luxembourg to pay …
McDonald’s agrees to pay 1.245 billion euros to settle French tax dispute Read More »
(Reuters) – The Russian rouble and stocks gained on Thursday, as the head of the central bank said the currency would remain free-floating and that capital controls should continue to be relaxed. At 0900 GMT, the rouble was 0.2% stronger against the dollar at 56.84 and had gained 1.3% to trade at 58.99 versus the …
By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Reuters) -U.S. President Joe Biden, under pressure over sky-high gasoline prices, on Wednesday demanded oil refining companies explain why they are not putting more fuel on the market as they reap windfall profits. Biden wrote to executives from Marathon Petroleum Corp, Valero Energy Corp and Exxon Mobil Corp, …
Biden blasts oil refiners for record profits on pain at the pump Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 rallied on Wednesday to snap a five-session losing skid after a policy announcement by the Federal Reserve that raised interest rates to market expectations as the central bank seeks to fight rising inflation without sparking a recession. The Federal Reserve raised its target interest rate …
Wall Street rallies to close higher after Fed statement Read More »
WASHINGTON (Reuters) – The acting head of the U.S. Federal Aviation Administration (FAA) on Wednesday urged the chief executives of major U.S. airlines to move quickly to address risks of C-Band 5G interference with sensitive airplane electronics. Acting FAA Administrator Billy Nolen said in a letter seen by Reuters that AT&T and Verizon want to …
Exclusive-FAA urges airlines to act as wireless carriers plan 5G signal boost Read More »
(Reuters) – U.S. banks JPMorgan Chase & Co and Wells Fargo & Co said on Wednesday they had raised their prime lending rates by 75 basis points to 4.75%, effective Thursday, matching the Federal Reserve’s rate hike earlier in the day. The Federal Reserve raised its target interest rate by three-quarters of a percentage point, …
JPMorgan, Wells Fargo raise prime rates to match Fed’s hike Read More »
WASHINGTON (Reuters) – Tesla Inc Chief Executive Elon Musk said he may support Florida governor Ron DeSantis for president in 2024, and predicted a “massive red wave” of Republican victories in the midterm elections in November. Asked on Twitter early Wednesday morning who he was “leaning towards” in the presidential election, Musk replied simply “DeSantis,” …
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By Lindsay Dunsmuir and Ann Saphir (Reuters) -The U.S. Federal Reserve’s big interest rate hike on Wednesday — and the expectation of more to come — is aimed at bringing down 40-year high inflation topping 8% on an annual basis in recent months. But the largest rate increase in a quarter century won’t deliver immediate …
Explainer-What Americans face now as the Fed raises interest rates Read More »
By Jonathan Stempel and Manya Saini (Reuters) -Warren Buffett on Tuesday donated about $4 billion to the Bill & Melinda Gates Foundation Trust and four family charities, part of the billionaire’s pledge to give away nearly all of his net worth. Berkshire Hathaway Inc, which Buffett has run since 1965, said the donation comprises about …
