(Reuters) – A federal judge on Wednesday said a $137 million jury award, one of the largest of its kind, to a Black former factory worker who sued Tesla Inc for racial discrimination was excessive and should be reduced to $15 million. U.S. District Judge William Orrick in San Francisco ruled after jurors last October…
By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund’s executive board on Wednesday approved creation of a new facility to help low-income and most middle-income countries deal with longer-term challenges such as climate change and pandemics. IMF Managing Director Kristalina Georgieva announced approval of the new Resilience and Sustainability Trust in a statement after the…
By Tetsushi Kajimoto TOKYO (Reuters) – More than three-quarters of Japanese firms say the yen has declined to point of being detrimental to their business, a Reuters poll found, with almost half of companies expecting a hit to earnings. The results of the Reuters Corporate Survey are one of the clearest signs yet that much…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank may outline on Thursday a clearer schedule for unwinding its extraordinary stimulus, as worries over record-high inflation trump concerns about a war-related recession. The ECB has been reducing the pace of its money-printing programme for months but it has so far avoided…
(Reuters) -Federal Reserve Governor Christopher Waller on Wednesday said the U.S. central bank needs to raise rates aggressively to fight inflation, but not so abruptly as to stress markets, destroy jobs and push the economy into recession. “I don’t see value in trying to shock the markets; we are not in a Volcker kind of…
Amazon is taking a step to offset its rising costs, announcing Wednesday it will add a 5% “fuel and inflation surcharge” to fees it charges third-party sellers who use the e-commerce giant’s fulfillment services. The Seattle-based company said on its website that the added fees, which take effect April 28, are “subject to change” and…
(Reuters) – TD Bank Group will offer eligible employees a 3% increase to their base pay or a one-time cash reward effective July 1, Chief Executive Officer Bharat Masrani said in an internal memo on Wednesday. The move comes as the latest in a series of salary hikes by top banks, as they rush to…
(Reuters) – Rent the Runway on Wednesday reported a 91% jump in fourth-quarter revenue, beating Wall Street estimates. The company reported revenue of $64.1 million, above estimates of $63.22 million, according to IBES data from Refinitiv. (Reporting by Akash Sriram in Bengaluru; Editing by Maju Samuel)
(Reuters) – Federal Reserve Governor Christopher Waller on Wednesday said he believes inflation has “pretty much” peaked, but the U.S. central bank still needs to raise rates aggressively, including in half-point increments in May and possibly in June and July. The Fed needs to get rates to neutral as soon as possible, and above neutral…
(Reuters) -The U.S. Federal Reserve must put the brakes on economic activity to tackle surging prices, James Bullard, president of the St. Louis Fed, told the Financial Times in an interview https://on.ft.com/3uBKcZZ. It is a “fantasy” to think the Fed can tame the fastest U.S. inflation in four decades without aggressively raising interest rates, he…
