(Reuters) – Alcoa said on Wednesday it expects U.S. tariffs on aluminum imports from Canada to cost the company about $90 million in the current quarter. Since his inauguration in January, U.S. President Donald Trump has announced – and sometimes reversed – tariffs on a slew of products and countries. The duties levied on aluminum …
By Howard Schneider and Ann Saphir CHICAGO (Reuters) – U.S. Federal Reserve Chair Jerome Powell said on Wednesday the Fed would wait for more data on the economy’s direction before changing interest rates, but cautioned that President Donald Trump’s tariff policies risked pushing inflation and employment further from the central bank’s goals. Powell, speaking for …
Powell says Fed remains in wait-and-see mode; markets processing policy shifts Read More »
By Vallari Srivastava (Reuters) – U.S. pipeline and terminal operator Kinder Morgan left its annual profit forecast unchanged on Wednesday, as it continued to bank on demand increase for natural gas even as President Donald Trump’s sweeping tariffs sparked uncertainty across the energy industry. While Kinder Morgan does not expect tariffs to have a significant …
Kinder Morgan maintains annual profit forecast on soaring natgas demand Read More »
By Michael S. Derby (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said on Wednesday that high levels of uncertainty in the U.S. economy right now argue for the central bank to hold steady on interest rate policy and take in more information before deciding what needs to happen next. “Given the economy’s …
Fed’s Hammack sees steady monetary policy as central bank seeks more data Read More »
(Reuters) – Video-conferencing platform Zoom Communications said on Wednesday it had resolved a global outage that disrupted its services, including its website, video calls and application, affecting thousands of users worldwide. Downdetector.com, a website that tracks outages by collating status reports from various sources, including user-submitted errors on its platform, showed the number of reported …
Zoom restored after outage affects thousands of users globally Read More »
(Reuters) – Railroad operator CSX reported first-quarter revenue and profit below Wall Street estimates on Wednesday, as gains in intermodal were offset by a decline in coal revenue and fuel surcharge. Demand for coal has been hampered by consumers switching to cheaper natural gas stockpiles for energy, but that trend is expected to change after …
Railroad operator CSX misses quarterly estimates as coal revenue falls Read More »
By Lucia Mutikani WASHINGTON (Reuters) -U.S. retail sales increased by the most in more than two years in March as households stepped up purchases of motor vehicles and a range of other goods to avoid higher prices from tariffs, likely barely keeping the economy afloat in the first quarter. With the stock market selling off …
Pre-tariffs buying fuels US retail sales, weakness lies ahead Read More »
By Ann Saphir (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday reiterated the long-held view of Fed chairs going back decades that growth in the U.S. federal debt needs to be reined in, but he suggested that politicians are going about it the wrong way. “We’re running very large deficits at full employment, and …
Fed Chair Powell: Cutting discretionary federal spending will not fix US debt problem Read More »
BUENOS AIRES (Reuters) – Argentina’s peso closed 6.6% higher on Wednesday, regaining ground lost after the currency tumbled on a lifting of capital controls earlier in the week. The currency closed the week, shortened due to the Easter holiday, at 1,125 pesos per U.S. dollar. That was 4.4% below the previous week’s closing price. On …
Argentine peso recoups lost ground after FX control ease, Milei rules out intervention Read More »
By Noel John (Reuters) – U.S. upland cotton exports to India have risen in the past few months fueled by global tariff conflicts, declining American prices and rising demand in the South Asian country, industry experts said. Exports to India from February to April jumped to 155,260 running bales, from 25,901 shipped during a year …
US cotton exports to India rise on lower prices, tariff uncertainties Read More »
