WASHINGTON (Reuters) -U.S. President Joe Biden on Wednesday said it was appropriate for the Federal Reserve to recalibrate the support it provides to the U.S. economy, in light of fast-rising prices and the strength of recovery. “Given the strength of our economy and recent price increases, it’s appropriate, as … Fed Chairman (Jerome) Powell has…
WASHINGTON (AP) — The United States and the United Kingdom have agreed to begin talks on removing former President Donald Trump’s import taxes on British steel and aluminum. In a joint statement Wednesday, U.S. Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai and U.K. Trade Minister Anne-Marie Tevelyan said they would be working toward…
(Reuters) -Kinder Morgan beat Wall Street expectations for fourth-quarter profit on Wednesday, as the U.S. pipeline operator transported higher volumes of gasoline and jet fuel with demand rising as people resumed travel and business activity picked up. Global jet fuel demand, however, has again come under pressure with some countries reimposing border restrictions and other…
By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Wednesday reported a narrower-than-expected fourth-quarter loss, helped by strong holiday travel demand. The Chicago-based carrier expects revenue in the quarter through March will recover to 75% to 80% of 2019 levels as turbulence caused by the Omicron coronavirus variant depresses near-term demand. However, bookings for…
By Katanga Johnson WASHINGTON (Reuters) – As the U.S. securities regulator wraps up a draft of a landmark new climate change rule, environmental campaigners and activist investors want it to require companies to disclose not only their own greenhouse gas emissions but those generated by their suppliers and other partners. Corporate groups, meanwhile, are pushing…
BEIJING (AP) — Asian stock markets rose Thursday after China cut interest rates to shore up flagging economic growth and Japan reported a double-digit rise in exports. Benchmarks in Shanghai, Tokyo, Hong Kong and Seoul advanced. On Wall Street, the benchmark S&P 500 index fell 1% on Wednesday as investors tried to figure out how…
NEW YORK (AP) — Bank of America said its profits rose 28% last quarter from a year earlier, but the bank faced the same wage inflation as its Wall Street counterparts. The bank said Wednesday that it earned a profit of $7.01 billion, or 82 cents per share, in the fourth quarter. That’s up from…
NEW YORK (AP) — Investment bank Morgan Stanley said its fourth-quarter profits rose 9% from a year ago, helped by a big jump in fee revenue from its growing asset and wealth management business. The investment banking division also boosted results, as deal-making on Wall Street continued at a frenzied pace. The New York-based firm…
ANKARA, Turkey (AP) — Turkey and the United Arab Emirates have agreed to a currency swap deal equivalent to $4.74 billion to boost Turkey’s depleted foreign exchange reserves, the Turkish central bank announced Wednesday. Under the agreement reached between their central banks, Turkey and the UAE agreed to swap 65 billion Turkish lira and 18…
In a wealthy enclave nestled in the Santa Monica Mountains that is a haven for celebrities, residents now face more aggressive consequences for wasting water — including the threat of having their water flows slowed to a trickle if they repeatedly flout conservation rules. The Las Virgenes Municipal Water District northwest of Los Angeles offers…
