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By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks rallied late on Tuesday to end higher for a second straight day as technology and energy shares gained, while Target Corp’s warning about excess inventory weighed on retail stocks for much of the session. Apple Inc shares climbed 1.8% despite news earlier in the day that …

Wall Street jumps with tech, energy; Target news weighs on retailers Read More »

By Daphne Psaledakis and Marc Jones WASHINGTON/LONDON (Reuters) – The U.S. Treasury Department has banned U.S. money managers from buying any Russian debt or stocks in secondary markets, on top of its existing ban on new-issue purchases, in its latest sanctions on Moscow over its invasion of Ukraine. Despite Washington’s sweeping sanctions in recent months, …

U.S. bars investors from buying Russian debt, stocks on secondary market Read More »

OTTAWA (Reuters) – Prices in Canada are rising at their quickest pace in 31 years, but that is not yet feeding in to a wage spiral, Canada’s budgetary watchdog said on Tuesday, with inflation still expected to return to target in coming years. Canadian consumers and businesses expect inflation to creep up in the short …

Hot Canada inflation not yet causing a wage spiral – budget watchdog Read More »

By Siddharth Cavale and Aishwarya Venugopal (Reuters) – Target Corp is expected to shed by August the excess inventory that is hurting its profitability and be poised to show strong profits during the key back-to-school and holiday sales seasons, analysts said on Tuesday. The retailer said it will work quickly to cull its unsold stock, …

Target to return soon to strong profits after tackling inventory woes – analysts Read More »

By Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Tuesday urged Congress to approve $80 billion in funding for the Internal Revenue Service to help the agency reduce a huge backlog of tax returns and allow it to go after $600 billion in unpaid tax bills. “The IRS is under siege. It is …

U.S. IRS ‘under siege’, Yellen says, needs $80 billion to beef up tax work Read More »

By Diane Bartz and Leroy Leo (Reuters) -The U.S. Federal Trade Commission is looking into how big pharmacy benefit managers like CVS Caremark affect pricing and patients’ access to prescription drugs at a time when costs of some medicines, even older ones like insulin, have skyrocketed, the agency said Tuesday. As part of the probe, …

Surging drug prices targeted in U.S. study of pharmacy middlemen Read More »

By Jonathan Stempel (Reuters) – A federal judge on Tuesday gave a Black former elevator operator at Tesla Inc two weeks to decide whether to accept $15 million in damages over racial abuse at the electric car company, far below the $137 million a jury had awarded. U.S. District Judge William Orrick in San Francisco …

Judge gives former Tesla worker a deadline to accept $15 million payout over racism Read More »

FRANKFURT (Reuters) -Deutsche Bank said on Tuesday that Berlin was now one of a handful of technology centres the lender runs around the world and sources said many staff who worked at the bank’s offices in Russia had moved to the new German operation. Germany’s biggest bank is winding down its operations in Russia, joining …

Deutsche Bank launches Berlin tech hub, draws staff from Russia operations Read More »

(Reuters) – The Russian rouble steadied against the dollar on Tuesday as market players gauged the impact of the latest round of Western sanctions against Moscow and investor focus turned to an expected central bank rate cut later in the week. At 0807 GMT, the rouble was unchanged against the dollar at 61.04, supported by …

Russian rouble steadies against dollar, stocks extend slide Read More »