By Chuck Mikolajczak NEW YORK (Reuters) – The dollar strengthened against a basket of major currencies on Monday, in the wake of comments from U.S. Federal Reserve Chair Jerome Powell that opened the door for the central bank to take a more aggressive monetary policy path. The greenback had been fluctuating between slight gains and…
By Ann Saphir and Lindsay Dunsmuir (Reuters) -The U.S. central bank must move “expeditiously” to bring too-high inflation to heel, Federal Reserve Chair Jerome Powell said on Monday, and will, if needed, use bigger-than-usual interest rate hikes to do so. “The labor market is very strong, and inflation is much too high,” Powell told a…
By Kate Abnett and Susanna Twidale BRUSSELS/LONDON (Reuters) – Proposals from southern European countries to intervene in energy markets have highlighted the difficulty facing an EU summit this week as it seeks to respond to record prices driven by Russia’s invasion of Ukraine. The 27 EU-member states are responsible for their own national energy policies….
(Reuters) -Several Apple Inc services including Apple Music, the iCloud storage service, Apple TV and Apple Store were down for thousands of users on Monday. The company’s system status page showed 11 ongoing outages including podcasts, music and arcade. It said Apple was investigating the issue and services may be slow or unavailable. According to…
MOSCOW (AP) — A Moscow court banned Facebook and Instagram on Monday for what it deemed extremist activity in a case against their parent company, Meta. The Tverskoy District Court fulfilled a request from prosecutors to outlaw Meta Platforms Inc. and banned Facebook and Instagram for what they called “extremist activities.” Russian prosecutors have accused…
By Paresh Dave and Julia Love (Reuters) -Alphabet Inc’s Google has settled with six current and former employees who had alleged the company unfairly stifled worker organizing, an abrupt ending to a trial that had been paused for several months, legal filings show. The U.S. National Labor Relations Board had pursued the case on behalf…
WASHINGTON (AP) — Companies would be required to disclose the greenhouse gas emissions they produce and how climate risk affects their business under new rules proposed Monday by the Securities and Exchange Commission as part of a drive across the government to address climate change. Under the proposals adopted on a 3-1 SEC vote, public…
(Reuters) -The Russian rouble steadied near 104 to the dollar on Monday and OFZ treasury bonds returned to trading, albeit in a volatile fashion, while investors kept an eye on Russia’s ability to service state debt and pay the coupon on its Eurobond. The rouble gained 0.8% to 104 against the dollar in Moscow trade…
WASHINGTON (AP) — Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring, if it decides this would be necessary to slow rampaging inflation. Powell’s message was more hawkish than his comments were after last week’s Fed meeting,…
By Joseph White DETROIT (Reuters) – General Motors Co President Mark Reuss said Monday the automaker is confident in its 2022 outlook and its plans to accelerate the launch of a new Cadillac electric vehicle, despite intensifying global supply chain risks. The geopolitical risks posed to automotive supply chains by the war in Ukraine are…
