NEW YORK (Reuters) -It may be appropriate for the Federal Reserve to raise interest rates four times this year, and to move more aggressively if the factors leading to higher inflation, such as supply chain issues, are not mitigated, Philadelphia Fed President Patrick Harker said on Tuesday. “Right now, I think four 25-basis-point increases this…
By Kenneth Li (Reuters) – AT&T Inc said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc and also cut its dividend by nearly half. AT&T shareholders will own 71% of the new Warner Bros. Discovery company and will receive a 0.24 shares of…
Exxon Mobil returned to a profit in its fourth quarter as demand for oil continues to improve. The oil and natural gas company earned $8.87 billion, or $2.08 per share for the final three months of 2021. A year earlier it lost $20.07 billion, or $4.70 per share. Removing certain items, earnings were $2.05 per…
By Alex Lawler LONDON (Reuters) -Oil slipped on Tuesday, staying close to a seven-year high, weighed by speculation OPEC+ could go further than expected to add supply at a meeting this week and expectations of a rise in U.S. inventories. While the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, has been…
(An earlier version misstated the nature of the dividend in paragraph 3.) By Kenneth Li (Reuters) -AT&T Inc said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery Inc and also cut its dividend by nearly half. AT&T shareholders will own 71% of the new…
BERLIN (AP) — German beer sales dropped another 2.2% last year, with the coronavirus pandemic again weighing on brewers after sales tumbled 5.5% in 2020, official figures showed Tuesday. Lockdowns that shut restaurants and bars for parts of the past two years have added to a long-term downward trend fueled by health concerns and other…
DETROIT (AP) — Tesla is recalling nearly 54,000 cars and SUVs because their “Full Self-Driving” software lets them roll through stop signs without coming to a complete halt. Recall documents posted Tuesday by U.S. safety regulators say that Tesla will disable the feature with an over-the-internet software update. The “rolling stop” feature allows vehicles to…
By Dhara Ranasinghe LONDON (Reuters) – World stocks began the new month on firmer ground, after a volatile January, as reassuring comments from Federal Reserve officials helped to calm rate-hike jitters. A pan-European equity index rallied 1% Japan’s blue-chip Nikkei rose by 0.3%, buoyed by Wall Street’s overnight gains and MSCI’s world stock index rose…
By Supantha Mukherjee and Tiyashi Datta (Reuters) – The New York Times Co’s acquisition of Wordle has created uproar on social media, with fans expressing fears that the popular online word game, which is currently free to play, might be put behind a paywall. Announcing on Monday that it had bought Wordle for an undisclosed…
LONDON (AP) — Caught partying during a pandemic, British Prime Minister Boris Johnson bought himself some breathing space with an apology and a promise to change. But his troubles are far from over. Johnson was battling to rally a rancorous Conservative Party on Tuesday after an inquiry slammed failures at the top that led to…
