By Laura Sanicola (Reuters) -The price of U.S. gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 …
U.S. gasoline average price tops $5 per gallon in historic first Read More »
By Trevor Hunnicutt and Jarrett Renshaw LOS ANGELES (Reuters) -U.S. President Joe Biden on Friday accused the U.S. oil industry, and Exxon Mobil Corp in particular, of capitalizing on a supply shortage to fatten profits after a report showed inflation surging to a new 40-year record. U.S. consumer inflation accelerated in May https://www.reuters.com/markets/us/soaring-gasoline-food-prices-boost-us-consumer-inflation-may-2022-06-10 as gasoline …
Facing record inflation, Biden chides Exxon, oil companies for profits Read More »
(Corrects this June 8 story to remove reference to the United Arab Emirates and the Kingdom of Saudi Arabia in paragraph 2) (Reuters) – Lockheed Martin Corp expects to produce its new-build F-16 fighter jets next year and commence deliveries in 2024, its chief financial officer Jesus Malave said on Wednesday. The company has a …
Lockheed expects to begin deliveries of F-16 combat jets in 2024 Read More »
By Rajesh Kumar Singh and David Shepardson CHICAGO/WASHINGTON (Reuters) – JetBlue Airways Corp Chief Executive Robin Hayes said Friday he is “optimistic” he can reach a deal to acquire Spirit Airlines Inc. “We’re pleased that there now seems to be a genuine desire from the Spirit board to engage with us,” Hayes told Reuters late …
JetBlue CEO ‘optimistic’ airline can acquire Spirit Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks posted their biggest weekly percentage declines since January and ended sharply lower on the day Friday as a steeper-than-expected rise in U.S. consumer prices in May fueled fears of more aggressive interest rate hikes by the Federal Reserve. Tech and growth stocks, whose valuations rely more …
Wall Street suffers biggest weekly loss since January after hot CPI data Read More »
(Reuters) – The U.S. Securities and Exchange Commission is looking into Goldman Sachs Group Inc’s asset-management division over its funds that look to invest based on environmental, social and governance (ESG) standards, the Wall Street Journal reported. The investigation is focused on Goldman Sachs’ mutual-funds division, the report said on Friday, citing people familiar with …
U.S. SEC investigating Goldman Sachs over ESG funds – WSJ Read More »
By Ann Saphir and Lindsay Dunsmuir (Reuters) -Stubbornly hot U.S. inflation is fueling bets that the Federal Reserve will get more aggressive about trying to cool price pressures and even potentially ditch its own forward guidance by delivering a jumbo-sized interest rate hike in coming months. Fed policymakers had already all but promised half-point interest …
Soaring inflation fuels bets on sharper Fed rate hikes Read More »
By Alison Frankel (Reuters) – When plaintiffs lawyers in a derivative suit against Pinterest Inc board members asked for approval of their $5.4 million fee request last April, they told the judge they deserved twice their lodestar bills because they’d obtained significant corporate governance reforms that would make the company more diverse and inclusive, enhancing …
Shareholders said corporate reforms merit millions in fees. Now they must prove it Read More »
(Reuters) – Cosmetics maker Revlon Inc is preparing to file for chapter 11 protection as soon as next week, the Wall Street Journal reported on Friday, citing people familiar with the matter. Revlon, whose shares declined 46%, did not immediately respond to a Reuters request for comment. The lipstick maker began talks with lenders ahead …
Cosmetics maker Revlon nears bankruptcy filing – WSJ Read More »
(Reuters) -Russia’s central bank said on Friday it would study the legality of plans by some banks to impose fees on foreign currency accounts, warning that lenders should not worsen conditions for existing clients. Some major Russian banks plan to charge fees on retail accounts in dollars and euros after authorities floated the idea of …
Russian central bank to scrutinise banks’ plans for fees on FX accounts Read More »
