By Fergal Smith TORONTO (Reuters) – Canada’s main stock index fell on Thursday but not nearly as much as Wall Street, as its heavy weighting in financial and energy shares helped it better handle the prospect of aggressive Federal Reserve interest rate hikes to fight inflation. The Toronto Stock Exchange’s S&P/TSX composite index ended down…
By Maria Chutchian (Reuters) -The Boy Scouts of America won pivotal support from a committee representing sexual abuse victims for a $2.7 billion settlement of their claims against the youth organization as it seeks to emerge from bankruptcy, according to a court filing on Thursday. Ahead of a Feb. 22 hearing before a U.S. bankruptcy…
By Noel Randewich and Bansari Mayur Kamdar (Reuters) – Wall Street ended sharply lower on Thursday after U.S. consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the U.S. central bank will hike rates aggressively to fight inflation. U.S. Labor Department data showed consumer prices surged…
By Elizabeth Dilts Marshall NEW YORK (Reuters) – Bank of America Corp is facing a lawsuit seeking class action status filed on Thursday by two customers who say the bank refused to honor promises to refund overdraft fees to clients who faced financial hardship during the pandemic. Anthony Ramirez, a truck driver living in California,…
NEW YORK (Reuters) – The U.S. Federal Reserve should stop buying bonds from the market now to contain rampant inflation, a top investment manager at BlackRock said in a research note on Thursday, after higher-than-anticipated January inflation data. U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40…
By Chris Prentice and Tommy Wilkes WASHINGTON/LONDON (Reuters) -Major global stock indexes fell on Thursday under pressure from crucial U.S. inflation data, falling technology shares and rising benchmark bond yields. U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial market speculation for…
(Reuters) – The U.S. government posted a $119 billion budget surplus in January, the first in more than two years, amid strong growth in tax receipts and a sharp drop in pandemic-related outlays, the Treasury Department said on Thursday. The January surplus compared to a January 2021 deficit of $163 billion, a record for the…
By Katanga Johnson WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Thursday proposed changing the rules of its whistleblower program to make it easier for tipsters to claim bounties. The changes, which are subject to public consultation, would scrap a Trump-era rule that had afforded the agency greater discretion to determine the size…
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…
