By David Shepardson WASHINGTON (Reuters) -The Biden administration on Thursday unveiled its plan to award nearly $5 billion over five years to build thousands of electric vehicle charging stations. Congress approved the funding to states as part of a $1 trillion infrastructure bill in November. The White House wants to prod Americans to move away …
U.S. unveils $5 billion plan to fund EV charging network Read More »
By Fergal Smith TORONTO (Reuters) – Canada’s main stock index fell on Thursday but not nearly as much as Wall Street, as its heavy weighting in financial and energy shares helped it better handle the prospect of aggressive Federal Reserve interest rate hikes to fight inflation. The Toronto Stock Exchange’s S&P/TSX composite index ended down …
TSX ends lower after narrowly missing record intraday high Read More »
By Davide Barbuscia NEW YORK (Reuters) -The U.S. Federal Reserve should stop buying bonds immediately to contain rampant inflation, a top investment manager at BlackRock said on Thursday, joining a chorus of Wall Street heavy hitters and investors who have been calling for swifter Fed action to contain rising prices. U.S. consumer prices rose solidly …
Just stop! Investors want the Fed to quit buying bonds now Read More »
By Maria Chutchian (Reuters) -The Boy Scouts of America won pivotal support from a committee representing sexual abuse victims for a $2.7 billion settlement of their claims against the youth organization as it seeks to emerge from bankruptcy, according to a court filing on Thursday. Ahead of a Feb. 22 hearing before a U.S. bankruptcy …
Boy Scouts of America wins key support for sex abuse settlement Read More »
By David Shepardson WASHINGTON (Reuters) -Toyota Motor Corp , General Motors Co, Ford Motor and Chrysler-parent Stellantis said they had been forced to cancel or scale back some production at North American plants on Thursday because of parts shortages stemming from Canadian trucker protests against pandemic mandates. The truckers, who oppose a vaccinate-or-quarantine requirement for …
GM, Toyota, Ford cut production following Canadian trucking protests Read More »
By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Thursday that its 2022 round of large bank stress tests will include a severe decline in commercial real estate prices and turmoil in corporate bond markets. The hypothetical recession the Fed will use as the basis of its tests also envisions unemployment spiking to …
Fed to stress test banks against commercial real estate, corporate debt troubles in 2022 Read More »
TORONTO (Reuters) – The Canadian dollar weakened against the greenback on Thursday as data showing that U.S. inflation soared to a 40-year high in January raised expectations for aggressive interest rate hikes by the Federal Reserve. U.S. bond yields climbed and the greenback rallied against a basket of major currencies as the U.S. consumer price …
Canadian dollar falls as investors weigh hot U.S. inflation data Read More »
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Bank of America Corp is facing a lawsuit seeking class action status filed on Thursday by two customers who say the bank refused to honor promises to refund overdraft fees to clients who faced financial hardship during the pandemic. Anthony Ramirez, a truck driver living in California, …
Customers sue Bank of America for not refunding overdraft fees during pandemic Read More »
By Katanga Johnson WASHINGTON (Reuters) – Democratic U.S. Senator Elizabeth Warren criticized the U.S Securities and Exchange Commission (SEC) on Thursday for delays to its landmark climate change risk disclosure rules and called for “quick action” on the issue. Last year, the SEC began working on a new rule requiring U.S.-listed companies to provide investors …
U.S. Senator Warren ‘urges’ SEC chief to issue new climate rule after delays Read More »
By Valentine Hilaire MEXICO CITY (Reuters) -Cemex’s net profit nearly tripled on lower costs and taxes in the fourth quarter, the Mexican cement maker said on Thursday, as it announced plans to raise prices in line with inflation in 2022. Net profit reached $195 million, up about 179% from the year-ago period, while revenues rose …
Cemex sees quarterly net profit jump; eyes price hikes for inflation Read More »
