(Reuters) -Meta Platforms Inc is readying plans to introduce virtual tokens and cryptocurrencies to its family of apps with an aim to use such virtual tokens for rewarding creators and lending and other financial services, the Financial Times reported on Wednesday. The move, which is reported to be in its early stages, comes as Meta…
By Carolyn Cohn, Pamela Barbaglia and Valentina Za LONDON (Reuters) -A rebel investor in Generali could mount a legal challenge if his bid to appoint new top executives at Italy’s largest insurer loses by a narrow margin in a shareholder vote this month, a candidate for the chairman’s role said. In an interview with Reuters,…
By Caroline Valetkevitch NEW YORK (Reuters) – Stock indexes fell on Wednesday and the U.S dollar surged to a nearly two-year peak, after the Federal Reserve released minutes from its last meeting that reinforced views the central bank may tighten aggressively to curb inflation. The benchmark U.S. 10-year Treasury yield rose, but was off its…
By Ananya Mariam Rajesh (Reuters) -Levi Strauss & Co quarterly results beat Wall Street estimates on Wednesday, helped by price increases and strong demand for its jeans, tops and jackets as more people venture out and attend social events. Shares of the jeans maker, which reaffirmed its revenue and profit forecast for 2022, rose about…
DETROIT (AP) — Toyota customers soon won’t be able to get U.S. federal tax credits for buying electric or hybrid vehicles. The automaker expects that sometime before the end of June it will reach a 200,000-vehicle cap on the credits, Bob Carter, Toyota’s head of North American sales, said Wednesday. After that, the credits will…
By Ann Saphir and Lindsay Dunsmuir (Reuters) -The Federal Reserve might have raised interest rates by half a percentage point last month to deal a more decisive blow to soaring inflation, but Russia’s invasion of Ukraine gave policymakers cold feet, minutes of the U.S. central bank’s March meeting showed on Wednesday. “Many participants noted that…
By Hilary Russ NEW YORK (Reuters) – U.S. workers and labor groups filed 57% more petitions to be represented by unions in the last six months as high-profile organizing campaigns at Starbucks Corp, Amazon.com Inc and other companies have taken off. The National Labor Relations Board (NLRB) received 1,174 such requests during the first half…
(Reuters) -Federal Reserve officials in March “generally agreed” to cut up to $95 billion a month from the central bank’s asset holdings as another tool in the fight against surging inflation, even as the war in Ukraine tempered the first U.S. interest rate increase. Minutes of the Fed’s March 15-16 meeting showed policymakers rallying around…
PARIS (Reuters) – President Emmanuel Macron on Wednesday confirmed that a preliminary investigation linked to tax fraud had been launched into the French arm of US consultancy firm McKinsey by France’s national financial prosecution office PNF. PNF earlier on Wednesday said launched a tax fraud probe linked to consulting firms without specifying which firms were…
By Rajesh Kumar Singh and Nathan Gomes (Reuters) -JetBlue Airways Corp on Wednesday mounted a vigorous defense of its unsolicited $3.6 billion bid to acquire ultra-low-cost carrier Spirit Airlines, saying the company is “highly confident” of securing regulatory approval for the deal. The New York-based carrier on Tuesday surprised Wall Street with a $33 per…
