Reuters US Business

By Sinéad Carew and Anisha Sircar (Reuters) – Wall Street’s three major indexes closed lower on Tuesday, following a rally last week, as volatile oil markets kept soaring inflation in focus and investors reacted to hawkish comments from a Federal Reserve official. After outperforming earlier in the session, the S&P’s energy sector lost ground after …

Wall Street pulls back after last week’s rally with inflation in focus Read More »

By Jeff Mason and Jarrett Renshaw (Reuters) – U.S. President Joe Biden on Tuesday met with Federal Reserve Chair Jerome Powell to discuss historic inflation that’s draining American wallets, even as he assured the central bank chief he would have freedom from political interference. “The president underscored to Chair Powell in the meeting what he …

Biden vows to give Fed Chair Powell ‘space’ to fight inflation Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and houses, which could curtail economic growth. The survey from the Conference Board on Tuesday also showed consumers’ perceptions of …

Rising cost of living hurts U.S. consumer confidence; house prices soar Read More »

By Anirban Sen NEW YORK (Reuters) – Dealmakers at Simpson Thacher & Bartlett are riding high. They worked on the three biggest mergers and acquisitions (M&A) announced so far this year, pushing Simpson Thacher to the No. 1 spot of the U.S. dealmaking league tables for law firms for the first time in 17 years. …

Simpson Thacher lawyers dominate mega deal wave Read More »

LONDON (Reuters) – Telecoms company BT and Ericsson have struck a multi-million pound partnership to offer private 5G networks to businesses across Britain, enabling them to deploy Internet of Things and other technologies quickly and securely. Private 5G networks mirror public 5G, but connectivity is limited to a group of devices in a dedicated space, …

BT and Ericsson join forces to build 5G private networks Read More »

TORONTO (Reuters) – Rogers Communications Inc on Monday said it will not proceed to close its proposed C$20 billion ($15.8 billion) purchase of Shaw Communications Inc until it reaches an agreement with the competition bureau or the competition tribunal gives its verdict. Rogers has also agreed not enforce any agreements that are connected with the …

Rogers agrees with Canada’s competition bureau to put Shaw merger on hold Read More »

By Fergal Smith TORONTO (Reuters) – The Canadian dollar rose to its highest level in more than five-weeks against the greenback on Monday, as data showed Canada’s current account surplus turning positive and ahead of an expected interest rate hike this week by the Bank of Canada. Canada’s current account surplus was C$5.0 billion in …

C$ rallies as current account surplus hits 14-year high Read More »

By Gabriel Araujo SAO JOSE DOS CAMPOS, Brazil (Reuters) -Brazil’s Embraer SA has already won enough orders to meet the top end of its targeted revenue range for the current financial year, the planemaker said Monday as it sees a bounce from a COVID-19 related downturn. The positive outlook came after large revenue drops due …

Brazil’s Embraer sees revenue at top of range after pandemic recovery Read More »