WASHINGTON (AP) — Pushing back against critics, a key nominee to the Federal Reserve’s Board of Governors said Thursday before a Senate panel that she would not make it more difficult for any industry to obtain bank loans. President Joe Biden nominated Sarah Bloom Raskin, a former Fed governor and deputy Treasury Secretary, to be…
ZURICH (Reuters) – Siemens is ramping up its spending on research and development above its rivals, Chief Executive Roland Busch will tell the German engineering group’s shareholders next week. The maker of trains and factory automation software will spend 5.5 billion euros ($6.21 billion) developing new products and services this year, Busch will say, according…
Meta Platforms (FB), the artist formerly known as Facebook, posted a disappointing round of earnings. Investors fled for the hills as the stock tumbled 21%. To put it into perspective, FB lost approximately $180 billion in market cap last night, roughly the size of AT&T! Does this wash out mean it is time to buy?…
(Reuters) -Honeywell International Inc reported lower-than-expected quarterly sales on Thursday, hit by supply chain challenges at its aerospace segment and a fall in demand for masks. The company, whose shares fell 2.7% before the bell, reported a decline in sales in three out of its four segments, with its Safety and Productivity Solutions unit —…
WASHINGTON (AP) — After three consecutive weeks of unemployment claims that appeared to rise in tandem with omicron, fewer Americans applied for unemployment benefits for the second week in a row. Jobless claims fell by 23,000 to 238,000 last week, from 261,000 the previous week, the Labor Department reported Thursday. The four-week average for claims,…
FRANKFURT, Feb 3 (Reuters) – Following is the statement from the European Central Bank following its policy meeting. The Governing Council confirmed the decisions taken at its monetary policy meeting last December. Pandemic emergency purchase programme (PEPP) In the first quarter of 2022, the Governing Council is conducting net asset purchases under the PEPP at…
LONDON (AP) — Britain’s energy regulator announced Thursday that a cap on energy prices is going up by a record 54% because of the soaring costs of wholesale natural gas, a change that will significantly burden millions of households already squeezed by rapidly climbing bills. The Office of Gas and Electricity Markets, known as Ofgem,…
By Andy, Bruce, and, David and Milliken LONDON, Feb 3 (Reuters) – The Bank of England raised interest rates to 0.5% on Thursday and nearly half of its policymakers wanted a bigger increase to contain rampant price pressures, as the central bank warned inflation will soon top 7%. In a surprise split decision, four of…
THE HAGUE, Netherlands (AP) — The Russia-Ukraine crisis entered another day that is expected to be packed with diplomatic efforts to prevent the simmering tensions from boiling over into war. Ukrainian President Volodymyr Zelenskyy is hosting Turkish President Recep Tayyip Erdogan for talks in Kyiv while Russian President Vladimir Putin meets his Argentinian counterpart Alberto…
(Reuters) – Hershey Co reported quarterly sales that beat Wall Street estimates on Thursday, as the Kit Kat maker benefited from price increases and strong demand for its chocolates and candies. Net sales rose to $2.33 billion in the fourth quarter from $2.19 billion a year earlier, compared with estimates of $2.27 billion, according to…
