(Reuters) – Deutsche Bank AG has named senior Macquarie Capital executive Tej Shah as a managing director, according to an internal memo seen by Reuters on Wednesday, as the German investment bank looks to deepen its push into the technology sector. “Technology is one of our key areas of focus for Deutsche Bank’s origination &…
More than 60 workers across three Amazon delivery stations staged a walkout on Wednesday to demand a $3 raise and a return to 20-minute breaks, according to one of the labor organizers leading the effort. Ellie Pfeffer, an organizer and warehouse associate at an Amazon delivery station called ZYO1 in Queens, New York, said five…
(Reuters) -Citigroup Inc has started covering travel expenses for employees who go out of state for abortions because of newly enacted restrictions in Texas and other places, becoming the first major U.S. bank to make that commitment. The new policy is “in response to changes in reproductive healthcare laws in certain states in the U.S.,”…
WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year. The Fed’s quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck…
(Reuters) -Amazon.com Inc said it would counter any disruptions due to the lockdowns in Chinese cities by diverting freight to warehouses in unaffected regions, as companies rush to comply with the country’s controls to curb the spread of COVID-19. The e-commerce giant said it had purchased more local inventory during the early outbreak of the…
By Victoria Waldersee and Christina Amann BERLIN (Reuters) -BMW cut its car division’s 2022 profit margin forecast on Wednesday and said it expected the chip crisis to drag on throughout the year, the latest automaker to warn of supply chain disruptions exacerbated by Russia’s invasion of Ukraine. The German carmaker, which sold a record 2.52…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Wednesday that his government was in discussions with the International Monetary Fund, other agencies and countries on deferring loan repayments and requested people’s support by limiting electricity and fuel consumption to cope with the worst economic crisis in memory. President Gotabaya Rajapaksa in his televised address…
LONDON (AP) — BMW and Volkswagen warned this week that Russia’s invasion of Ukraine is causing shortages of some vital components, forcing them to reduce vehicle production in Europe. The two German carmakers said the war is having a “negative” effect on auto supply chains, which have already been battered by shortages of semiconductors. BMW…
By Devik Jain and Bansari Mayur Kamdar (Reuters) -Wall Street’s main indexes jumped on Wednesday, propelled by technology and financial stocks, as signs of progress in Ukraine-Russia peace talks lifted sentiment ahead of a widely expected interest rate hike by the Federal Reserve. New talk of compromise from both Moscow and Kyiv on a status…
By Hilary Russ NEW YORK (Reuters) -Starbucks’ longtime former Chief Executive Officer Howard Schultz will return temporarily after Kevin Johnson said on Wednesday that he will retire from the role on April 4, as a unionization drive at U.S. cafes heats up. Shares of the coffee chain surged 7% on the news. Schultz is practically…
