By Daphne Psaledakis WASHINGTON (Reuters) – U.S. Deputy Treasury Secretary Wally Adeyemo will travel to Europe next week to coordinate sanctions with allies over Russia’s assault on Ukraine and discuss next steps with partners, including targeting critical sectors of the Russian economy, a Treasury Department spokesperson told Reuters. Adeyemo will meet with counterparts responsible for…
By Lawrence Delevingne and Elizabeth Howcroft BOSTON/LONDON (Reuters) – U.S. stocks regained ground on Tuesday, while Treasury yields climbed and oil dipped, as investors adjusted their expectations for rate hikes following hawkish comments from the U.S. Federal Reserve. The Dow Jones Industrial Average rose 219.79 points, or 0.64%, to 34,772.78, the S&P 500 gained 45.91…
MacKenzie Scott has donated $436 million to Habitat for Humanity International and 84 of its U.S. affiliates — the largest publicly disclosed donation from the billionaire philanthropist since she pledged in 2019 to give away the majority of her wealth. “We could not be more excited to get the gift at a time when, in…
By Zandi Shabalala and Pratima Desai LONDON (Reuters) – The London Metal Exchange has no current plans to ban from its system metal from Russian producers, such as nickel and copper from Norilsk Nickel or aluminium from Rusal, it said on Tuesday, despite calls from some members to do so. Western countries have sanctioned Russian…
(Reuters) – Wall Street’s main indexes opened higher on Tuesday, as bank shares gained on growing bets of aggressive interest rate increases by the Federal Reserve and sportswear maker Nike rose after upbeat quarterly results. The Dow Jones Industrial Average rose 30.25 points, or 0.09%, at the open to 34,583.24. The S&P 500 opened higher…
When Fed Chair Jerome Powell provided a hawkish outlook for monetary policy, he emphasized that a strong economy would allow the central bank to proceed down this path. Markets appear to agree as we rallied after news that the Fed could raise rates seven times in 2022. The biggest risk to the market is a…
By Gavin Jones ROME (Reuters) – A growing number of European countries are cutting fuel taxes to lower surging pump petrol prices. The move brings respite to motorists but environmentalists say it flies in the face of commitments to curb global warming. Rising international oil costs, exacerbated by the war in Ukraine, have driven petrol…
By Devik Jain (Reuters) -The Dow and the S&P 500 were set to open higher on Tuesday, as bank shares gained on growing bets of aggressive interest rate increases by the Federal Reserve and sportswear maker Nike rose after upbeat quarterly results. Traders expects a 67.6% chance of a 50-basis point (bps) rate hike in…
BERLIN (AP) — Electric car manufacturer Tesla opened its first European factory Tuesday on the outskirts of Berlin in an effort to challenge German automakers on their home turf. The company says its new “Gigafactory” will employ 12,000 people and produce 500,000 vehicles a year once it’s fully up and running. Initial production will focus…
By Alex Lawler LONDON -Oil rose towards $116 a barrel on Tuesday, adding to a 7% surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in…
