By David French (Reuters) – Wall Street’s ended lower on Thursday, with the Nasdaq dropping more than 2%, as investors reacted to Federal Reserve officials including Chair Jerome Powell offering further signposting of aggressive interest rate hikes this year. A half-point interest rate increase will be “on the table” when the U.S. central bank meets…
By Sheila Dang (Reuters) -Snap Inc reported better-than-expected first-quarter user growth on Thursday while it missed expectations on revenue, as the parent company of Snapchat said supply-chain disruptions and the invasion of Ukraine hurt advertising demand. Shares of Snap fell 10% in trading after the bell. The company warned that inflation, labor shortages and other…
By Maria Caspani and Dawn Chmielewski (Reuters) -Walt Disney Co is set to lose its special tax status in Florida after legislators there passed a bill on Thursday, delivering a major blow to the company embroiled in a dispute over a new state law limiting discussion of LGBTQ issues in schools. Approval from Governor Ron…
WASHINGTON (AP) — The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said Thursday, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May. In a panel discussion held by the International Monetary…
By Jonathan Stempel and Katanga Johnson NEW YORK/WASHINGTON (Reuters) -MoneyGram International Inc was sued on Thursday by two regulators that said it repeatedly and unfairly violated a federal rule designed to make it easier for people to send money to friends and family outside the United States. The complaint against MoneyGram, one of the largest…
ST. PETERSBURG, Fla. (AP) — Florida utilities would gradually increase their electricity to 100% renewable by 2050 under a proposed rule unveiled Thursday by the state’s agriculture commissioner. The proposed rule is an outgrowth of a lengthy court battle involving dozens of young people who claim Florida is violating their constitutional rights by continuing to…
(Reuters) -Florida legislators passed a bill on Thursday that would revoke Walt Disney Co’s self-governing status in a move widely seen as tit-for-tat for the company’s opposition to a new state law limiting discussion of LGBTQ issues in schools. The bill now heads to the desk of Governor Ron DeSantis, who is all but guaranteed…
(Reuters) – Russia said on Thursday it plans to have a “digital” rouble capable of making international payments ready by next year and also wants to expand the number of countries that accept its Visa- and Mastercard-style banking cards that are administrated by the central bank. With Western sanctions cutting off Russia from large parts…
DALLAS (AP) — Airlines have banned several thousand passengers since the pandemic started for refusing to wear masks. Now they want most of those passengers back. American, United and Delta have all indicated that they will lift the bans they imposed now that masks are optional on flights. “We have talked to them individually,” United…
WASHINGTON (AP) — Charles Evans will retire early next year after 15 years as president of the Federal Reserve Bank of Chicago, a tenure that made him the longest-serving current regional Fed president, the bank announced Thursday. Among Fed officials, Evans has been a vocal supporter of lower interest rates. His departure comes as the…
