NEW YORK (AP) — The stock market is losing crucial support from the Federal Reserve. Omicron is causing havoc at businesses around the world. And Russia just might be preparing to invade Ukraine, creating more uncertainty and raising the prospect of even higher oil prices. No wonder investors are freaking out — and selling stocks….
By Nivedita Balu and Jane Lanhee Lee (Reuters) -Microsoft Corp on Tuesday hit Wall Street targets for cloud services revenue, but that was not enough for some of the most optimistic investors and shares fell 4% in extended trade. Investors are seeking assurances that the enterprise cloud business is still growing strongly and will also…
WASHINGTON (Reuters) – U.S. House of Representatives leaders are set to unveil as soon as later on Tuesday a bill to increase U.S. competitiveness with China and boost federal spending on semiconductors, aides told Reuters. President Joe Biden’s administration is pushing to persuade Congress to approve funding to help boost chip production in the United…
By David Shepardson WASHINGTON (Reuters) -The White House plans to host the chief executives of major U.S. companies including auto and tech sector firms on Wednesday to discuss President Joe Biden’s signature $1.75 trillion Build Back Better legislation. General Motors CEO Mary Barra, Ford Motor CEO Jim Farley, Salesforce co-CEO Marc Benioff, Microsoft President Brad…
By Ann Saphir (Reuters) – Signaling U.S. President Joe Biden’s picks for the Federal Reserve may face a tough confirmation process in the closely divided Senate, Republican Senator Pat Toomey told the president he doesn’t think his choices fairly represent the nation for which they will help set monetary policy. “I write to express my…
(Reuters) – Bank of America Corp is bringing employees back to offices in parts of the United States where new COVID-19 cases have started to decline, a person familiar with the matter told Reuters on Tuesday. The company had earlier encouraged employees to work remotely during the first three weeks of January, after a big…
(Reuters) – Bank of America Corp will reward employees for the bank’s strong performance through special bonuses for the fifth straight year, according to an internal memo seen by Reuters. Roughly 97% of the bank’s employees, who make up to $500,000 in total annual compensation, will be eligible for the bonuses. “For this year, the…
WASHINGTON (AP) — The Biden administration is suing to block Lockheed Martin Corp.’s $4.4 billion bid for Aerojet Rocketdyne Holdings, saying it would limit competition and drive up prices for components used in missiles that Lockheed and other defense contractors build for the Pentagon. The Federal Trade Commission said Tuesday that Aerojet is the last…
WASHINGTON (Reuters) – The White House plans to host the chief executives of major U.S. companies including auto and tech sector firms on Wednesday on his signature $1.75 trillion Build Back Better legislation, officials told Reuters. “We have an event tomorrow on Build Back Better where there will be a number of CEOs here,” White…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer confidence ebbed slightly in January, with more consumers planning to purchase homes, automobiles and other big- ticket items even as they grew less optimistic about business and labor market conditions in the short term. The survey from the Conference Board on Tuesday also showed consumers’ inflation expectations…
