By Scott DiSavino NEW YORK (Reuters) – Oil prices gained over 2% on Wednesday as another U.S. crude stock drawdown indicated tight supplies and investors worried about possible new Western sanctions against Russia. Brent futures rose $2.69, or 2.4%, to $112.92 a barrel by 1:22 p.m. EDT (1722 GMT). U.S. West Texas Intermediate (WTI) crude…
(Reuters) – The brief inversion of the U.S. bond yield curve on Tuesday is a cautionary sign for the Federal Reserve that may need to be factored into coming debates on management of the central bank’s balance sheet, Kansas City Fed President Esther George said on Wednesday. George said she was less concerned about what…
By Tom Wilson and Koh Gui Qing LONDON/NEW YORK (Reuters) – The U.S. and European equities rally paused on Wednesday as investors took stock of economic and geopolitical risks, while oil prices jumped back around $4 on the prospect of more Russian sanctions. The broad Euro STOXX 600 fell 0.6% after three positive sessions that…
For decades, the free flow of trade across much of the world allowed the richest nations to enjoy easy access to low-priced goods and supplies. It meant solid economies and stable markets. And for households and businesses, especially in the United States and Europe, it meant an entire generation of ultra-low inflation. Now, Russia’s invasion…
(Reuters) – Amazon.com Inc is launching a program to double cashback rewards on fuel purchases to up to 12% for Amazon Flex debit cardholders, to help Flex delivery partners amid a rise in fuel prices. Amazon Flex, which works like on-demand ride-hailing service Uber, handles speedy deliveries of common household goods to customers through programs…
ALBUQUERQUE, N.M. (AP) — There are now more Mexican gray wolves roaming the southwestern U.S. than at any time since the federal government started to reintroduce the endangered species, wildlife managers said Wednesday. The results of the latest annual survey of the wolves show there are at least 196 in the wild in New Mexico…
NEW YORK (AP) — What’s immune to high inflation? So far, the profits at big U.S. companies. Businesses are facing higher gasoline and heating bills, just like consumers, in addition to higher expenses for labor and raw materials. But unlike many middle- and lower-income Americans, they’ve been making more than enough extra income to cover…
By Chris Thomas and Nupur Anand MUMBAI (Reuters) -Indian private lender Axis Bank has decided to bulk up its credit card and retail businesses with a $1.6-billion purchase of Citigroup Inc’s local consumer banking arm. The deal announced https://www.bseindia.com/xml-data/corpfiling/AttachLive/83190dcd-4ae6-45f4-b3fa-8d39d91a4aa6.pdf on Wednesday is Axis Bank’s largest by far and would expand its credit card customer base…
(Reuters) – The war in Ukraine has added to inflationary pressure in the U.S. but so far does not appear to have influenced demand for goods and services, Richmond Fed president Thomas Barkin said Wednesday. “I have not yet seen the drop in demand” for goods and services because of the recent spike in energy…
SAN FRANCISCO (AP) — Waymo’s self-driving ride-hailing service is branching out to San Francisco. The autonomous vehicle unit of Alphabet, Google’s parent company, said Wednesday that it started carrying employees in electric Jaguar I-Pace SUVs without human backup drivers. Previously the company had been testing the vehicles with a safety driver behind the wheel just…
