By Lisa Baertlein and Aishwarya Nair (Reuters) -U.S. delivery firm FedEx Corp posted lower-than-expected quarterly earnings on Thursday, hit by ongoing labor woes and the Omicron outbreak, and said second-half Ground margins will miss internal targets. Shares of FedEx fell 3.5% to $219.90 in extended trading. E-commerce shipments fueled revenue at FedEx and United Parcel…
NEW YORK (AP) — A federal labor board is seeking to reinstate an Amazon employee who was fired in the early days of the pandemic after leading a protest calling for the company to do more to protect workers against COVID-19. Gerald Bryson, who worked at an Amazon warehouse in the New York City borough…
(Reuters) – S&P on Thursday lowered Russia’s rating to ‘CC’ from ‘CCC-‘, as the country reported difficulties meeting debt payments due on its dollar-denominated 2023 and 2043 Eurobonds. Russia’s payment difficulties stem from international sanctions that reduced its available foreign exchange reserves and restricted its access to the global financial system, markets and infrastructure, the…
(Reuters) – Germany’s Deutsche Bank AG said on Thursday its U.S. affiliate had increased its prime lending rate by 25 basis points, mirroring moves by major Wall Street banks after the Federal Reserve announced the first of what is expected to be a series of rate hikes. The Deutsche Bank Trust Company Americas (DBTCA) increased…
SANTIAGO (Reuters) – A union representing workers at BHP’s sprawling Escondida copper mine in Chile, the world’s largest copper mine, on Thursday threatened a work stoppage over what it claims are breaches in its collective contract. Escondida’s Union 1 requested an urgent meeting with company executives to discuss its complaints over promotions, saying many conditions…
Both Democratic and Republican lawmakers called Thursday for restoring the charitable deduction for donors who don’t itemize their taxes, a priority for nonprofits nationwide, but a key senator was noncommittal on the question of whether to support legislation designed to boost payouts from foundations and donor-advised funds. “The charitable deduction is a lifeline, not a…
By Patricia Zengerle WASHINGTON (Reuters) – The U.S. House of Representatives overwhelmingly backed legislation on Thursday to remove “most favored nation” trade status for Russia and Belarus over the invasion of Ukraine, paving the way for higher tariffs on imports from the countries. The Democratic-controlled House voted 424-8 in favor of removing Permanent Normal Trade…
By Eric Onstad LONDON (Reuters) – Despite the turbulent, stop-start trading of nickel on the London Metal Exchange, frustrated investors who may want to shift their business elsewhere have found there are no quick and easy alternatives. The 145-year-old institution suspended activity and cancelled trades last week due to volatility that saw prices double to…
NEW YORK (AP) — PayPal said Thursday that its users will now be able to send money to Ukrainians, both in the war-ravaged country as well as those now refugees across Europe. Previously, people in Ukraine were only able to use the payments platform to send money out of the country. They will now be…
By Hilary Russ NEW YORK (Reuters) – Burger King’s parent company said on Thursday it has not been able to close its 800 restaurants in Russia because its independent operator there “refused” to do so. Restaurant Brands International Inc said that to enforce its contracts with the franchisee, Alexander Kolobov, it would need the help…
