By Howard Schneider and Lindsay Dunsmuir WASHINGTON (Reuters) – The Federal Reserve is on track for half point interest rate increases in June, July, and perhaps even beyond as fresh job market data Friday showed no sign the U.S. economy is buckling under the pressure of high inflation and rising borrowing costs. A Labor Department …
Fed to steam ahead on rate hikes even as job gains slow Read More »
(Reuters) – Federal Reserve Chair Jerome Powell will give his twice-yearly report on monetary policy to the U.S. Senate on June 22, just a week after the central bank is expected to deliver another half-point interest rate hike as it seeks to bring inflation under control. The Senate Banking Committee also said it would hold …
Fed Chair Powell to testify at Senate June 22, Barr vote set for June 8 Read More »
(Reuters) – Southwest Airlines Co said on Friday it reached a tentative agreement with Aircraft Mechanics Fraternal Association (AMFA) for the carrier’s Aircraft Appearance Technicians. The agreement, the details of which Southwest did not release, covers around 170 of the airline’s technicians. A surge in travel demand has been creating a shortage of pilots, mechanics …
Southwest Airlines reaches tentative agreement with technicians’ union Read More »
(Reuters) – The Russian rouble fell below 62 to the dollar on Friday and lost over 1% versus the euro as foreign demand for roubles to pay for Russian gas weakened. At 0757 GMT, the rouble was 0.9% weaker against the dollar at 62.17 and had eased 1.1% to trade at 66.29 versus the euro. …
Russian rouble falls below 62 vs dollar on Friday trade Read More »
By Trevor Hunnicutt WASHINGTON (Reuters) -The White House is considering congressional proposals that could tax oil and gas producers’ profits in order to provide a benefit to consumers struggling with higher energy prices, a U.S. official said on Thursday. “There are a variety of interesting proposals and design choices on a windfall profits tax,” Bharat …
White House weighs oil profits tax to fund consumer rebate Read More »
By Kanishka Singh WASHINGTON (Reuters) -A U.S. House of Representatives committee said on Thursday that it was investigating the Saudi Arabian government’s $2 billion investment with a firm of Jared Kushner, the son-in-law of former President Donald Trump. “The Committee on Oversight and Reform is investigating whether you (Kushner) have improperly traded on your government …
U.S. House panel probes Saudi business with Kushner’s firm Read More »
By Diane Bartz WASHINGTON (Reuters) -Consumer advocates on Thursday urged U.S. regulators to investigate video game maker Electronic Arts Inc for what they say was the misleading use of a digital “loot box” that “aggressively” urges players to spend more money while playing a popular soccer game. The groups Fairplay, Center for Digital Democracy and …
Groups urge U.S. to probe ‘loot box’ on Electronic Arts video game Read More »
By Fergal Smith TORONTO (Reuters) – Canada’s main stock index rose on Thursday to its highest level in nearly one month, helped by gains for metal mining and technology shares, as investors began to look past the recent spell of downbeat news for the market. The Toronto Stock Exchange’s S&P/TSX composite index ended up 318.09 …
TSX notches 4-week high, led by materials and technology Read More »
(Reuters) – The board of Brazil’s Investment Partnerships Program (PPI) said on Thursday they will include state-run oil company Petrobras in their privatization report. The decision comes after a request by the country’s Mines and Energy Ministry to include the company in the report in a step towards a potential privatization. (Reporting by Carolina Pulice …
Brazil to include Petrobras in privatization report Read More »
By Noel Randewich and Anisha Sircar (Reuters) – Wall Street ended sharply higher on Thursday, led by Tesla, Nvidia and other megacap growth stocks in a choppy session ahead of a key jobs report due on Friday. Tesla, Nvidia and Meta Platforms each rose more than 4%, fueling gains in the S&P 500 and Nasdaq. …
Wall Street ends sharply higher, led by Tesla and Nvidia Read More »
