DETROIT (AP) — Volkswagen is recalling more than 246,000 SUVs in the U.S. and Canada because faulty wiring harnesses can make them brake unexpectedly, sometimes while in traffic. The recall comes three days after The Associated Press reported that 47 people had complained to U.S. safety regulators about the problem, some reporting nearly being rear-ended…
By Sinéad Carew, Shreyashi Sanyal and Sabahatjahan Contractor (Reuters) – Wall Street’s three major indexes advanced on Friday, led by gains in recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises. Investors were also eying slowing gains in oil prices…
By Howard Schneider BALTIMORE (Reuters) – The rate increases projected by Federal Reserve officials this week represented a “balancing act” between the need to begin normalizing monetary policy in the face of high inflation, while guarding against a fast tightening of credit that could damage the economy, Richmond Fed President Thomas Barkin said on Friday….
SACRAMENTO, Calif. (AP) — California’s urban water users and farmers who rely on supplies from state reservoirs will get less than planned this year as fears of a third consecutive dry year become reality, state officials announced Friday. Water agencies that serve 27 million people and 750,000 acres (303,514 hectares) of farmland, will get just…
By Eric Onstad LONDON (Reuters) -The London Metal Exchange (LME) again widened its trading band for nickel on Friday, but for a third session in a row it hit limit down, sliding 12% as the LME faced more technical problems. The metal used to make stainless steel and electric vehicle batteries fell to $36,915 a…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. home sales fell by the most in a year in February as a perennial shortage of houses and double-digit price growth continued to squeeze first-time buyers out of the market. With mortgage rates rising above 4% for the first time in nearly three years, sales are likely to…
WASHINGTON (Reuters) – Two U.S. House Democratic lawmakers on Friday asked Hertz Global Holdings, and Avis Budget Group to answer questions about rising rental car prices and higher industry profits. Representative Raja Krishnamoorthi, chairman of the Subcommittee on Economic and Consumer Policy, and Representative Katie Porter said both rental car firms appear to have used…
MacKenzie Scott has donated $281 million to Boys & Girls Clubs of America and 62 local Boys & Girls Clubs around the country, the 160-year-old nonprofit announced Thursday. It is the largest public gift Scott has given so far. Scott directed $25 million of the total to the organization’s national office in Atlanta and the…
(Reuters) -Russia on Friday demanded that Alphabet Inc’s Google stop spreading what it called threats against Russian citizens on its YouTube video-sharing platform, a move that could presage an outright block of the service on Russian territory. Google representatives in Russia did not respond to an emailed request for comment. Google representatives outside Russia also…
By Karin Strohecker and Sujata Rao LONDON (Reuters) -Russia has paid interest due on two sovereign dollar bonds, easing doubts about its willingness and ability to honour external debt after harsh sanctions imposed by the West, but a busy payment schedule ahead will keep investors on edge. Failure to pay could have led to Russia’s…
