By Ann Saphir (Reuters) – St. Louis Federal Reserve Bank President James Bullard said Thursday that he has become “dramatically” more hawkish in light of the hottest inflation in nearly 40 years, and he now wants a full percentage point of interest rate hikes by July 1. “I’d like to see 100 basis points in…
By Tina Bellon and Nivedita Balu (Reuters) -Uber Technologies Inc laid out a $5 billion operating profit for 2024 that fell short of analyst estimates, sending its shares down 4% on Thursday, even as the ride-hailing company revealed several strategies to boost ridership and bring down costs. The forecast is below the $5.7 billion analysts…
By Tina Bellon and Nivedita Balu (Reuters) -Uber Technologies Inc on Thursday said it would report around $5 billion in adjusted profit in 2024 and improve algorithms to keep costs low and win new customers. However, the forecast is below the $5.7 billion analysts expect for 2024, according to Refinitiv data, and the company’s shares…
By Devik Jain, Davide Barbuscia and Chuck Mikolajczak NEW YORK (Reuters) – Investors were bracing for more market volatility after a sharper-than-expected rise in consumer prices ramped up expectations for how aggressively the Federal Reserve will need to move as it fights to tame soaring inflation. The prospect of a more hawkish Fed has been…
WASHINGTON (AP) — Last year, it was a nasty surprise. And it wasn’t supposed to last. But now, inflation has become an ongoing financial strain for millions of Americans filling up at the gas station, lined up at a grocery checkout lane, shopping for clothes, bargaining for a car or paying monthly rent. For the…
By Nichola Saminather TORONTO (Reuters) – Manulife Financial Corp sees the higher inflation and interest rates expected this year as generally positive, and can at least partly offset the former through increased premiums, executives told a post-earnings analyst call on Thursday. A 50-basis-point increase in fixed income yields would also translate into a C$1.85 billion…
(Reuters) – U.S. President Joe Biden said the January consumer price index report issued on Thursday was a reminder that the budgets of Americans are under real strain, adding that his administration was using “every tool” it has to tackle the issue. “We have been using every tool at our disposal, and while today is…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, fueling financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month. The broad increase in prices reported by the Labor Department on Thursday was led…
SACRAMENTO, Calif. (AP) — A lawsuit over high health care bills filed on behalf of more than 3 million employers and people seeks as much as $1.2 billion from a large Northern California health system in an antitrust class-action trial getting underway Thursday. Plaintiffs in the lawsuit allege in court documents that Sutter Health abused…
By Danilo Masoni and Linda Pasquini (Reuters) -Delivery Hero saw almost a third of its market value wiped out on Thursday after 2022 earnings guidance fell short of market expectations and investors stampeded out of another stock previously considered a pandemic-era darling. Pandemic winners and high-flying tech companies, such as exercise bike maker Peloton Interactive…
