Starbucks had a strong holiday season in the U.S., but those results were offset by higher labor and commodity costs and weaker sales in China. In response, Starbucks lowered its earnings outlook for the 2022 fiscal year, which ends in September. The company said it expects earnings per share to decline by 4% to 6%…
A year before the massacre at Pittsburgh’s Tree of Life synagogue, a security director from the city’s Jewish federation came to the house of worship to train its religious school staff and rabbi on how to respond to violent situations. At the time, Stephen Weiss thought it was unnecessary. But Weiss, then a teacher at…
WASHINGTON (AP) — How far the Federal Reserve can go to compel banks to consider the consequences of climate change in their lending policies could take center stage at a Senate hearing Thursday on the nominations of Sarah Bloom Raskin and two economists to the Fed’s influential Board of Governors. The Fed is already moving…
By Praveen Paramasivam (Reuters) – Workers at nearly 80 King Soopers, owned by Kroger Co, approved a new three-year contract, the Colorado-based chain said on Tuesday, ending a stalemate that had caused a 10-day strike at the start of the year. King Soopers will invest $170 million in wage increases through the life of the…
By Paresh Dave and Nivedita Balu (Reuters) -Alphabet Inc and its Google unit on Tuesday reported higher than expected fourth-quarter sales as the search giant’s internet advertising and cloud computing businesses benefited over the holiday season from the growing surge in online shopping. Alphabet’s overall quarterly sales jumped to $75.3 billion, above the average estimate…
A once-ambitious but now faltering Facebook-backed digital currency project known as Diem is dead, its assets sold to bank holding company Silvergate Capital. Silvergate and the Diem Association announced the sale on Tuesday. Meta, which owns Facebook, did not have a comment. A Faceboook spokesperson, however, pointed to tweets by Stephane Kasriel, head of Meta’s…
By Ann Saphir (Reuters) – St. Louis Federal Reserve President James Bullard on Tuesday said he favors lifting rates at the U.S. central bank’s meeting in March and likely again in May. But he pushed back against the idea of kicking off the tightening cycle with a half-percentage point hike, and said that how high…
By Erwin Seba HOUSTON (Reuters) – Union and energy company negotiators met on Tuesday to settle terms on a new labor contract covering 30,000 U.S. workers at oil refineries, chemical plants and pipelines. Marathon Petroleum and the United Steelworkers union (USW) on Monday averted a potential strike by agreeing to a 24-hour rolling extension of…
(Reuters) – St. Louis Federal Reserve President James Bullard on Tuesday said he favors lifting rates at the U.S. central bank’s meeting in March and likely again in May, but he pushed back against the idea of kicking off the coming tightening cycle with a half-percentage point hike. “I don’t think a 50-basis point hike…
MEXICO CITY (AP) — Mexico’s central bank says remittances — the money migrants send home to their relatives — grew by 27.1% in 2021 to total about $51.6 billion for the year as a whole. That is a record amount, despite the coronavirus pandemic, and would surpass almost all other sources of Mexico’s foreign income,…
