By Indradip Ghosh and Prerana Bhat BENGALURU (Reuters) – The U.S. Federal Reserve will tighten monetary policy at a much faster pace than thought a month ago to tame persistently high inflation, now viewed by economists polled by Reuters as the biggest threat to the U.S. economy over the coming year. Encouraged by apparent lower…
CHICAGO (AP) — United Airlines lost $646 million in the fourth quarter and said Wednesday that the current spike in COVID-19 cases will hurt its results in the March quarter. The airline said it expects its first-quarter revenue will be down 20% to 25% from the same period in 2019. Costs other than fuel will…
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…
