MOMBASA, Kenya (AP) — Climate activists are urging more banks and insurers not to back the controversial $5 billion East African Crude Oil Pipeline that is primed to transport oil from the Hoima oilfields in Uganda to the Tanzanian coastal city of Tanga. Influential climate activists Vanessa Nakate and Hilda Nakabuye have lent their support…
(Reuters) -Walmart Inc has appointed PayPal Holdings Inc’s finance head, John Rainey, as chief financial officer (CFO), the world’s largest retailer said on Tuesday. Rainey will take over as CFO effective June 6, replacing Brett Biggs, Walmart’s finance chief since 2015, who announced his exit late last year. Rainey, who announced his departure from PayPal…
By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s central bank directors will meet on Wednesday to discuss a possible interest rate hike, a source with the bank told Reuters on Tuesday, as the South American country battles annual inflation expected to have topped 6% in March. A central bank spokesman confirmed Wednesday’s meeting, a day…
By Howard Schneider WASHINGTON (Reuters) – U.S. consumer inflation hit another four-decade high in March when it reached 8.5% in large part on gasoline prices surging to a record, but the data sported enough soft spots for some Wall Street pundits to declare “peak inflation” was at hand. The Federal Reserve certainly hopes it is….
By Katanga Johnson WASHINGTON (Reuters) -Global equities reversed earlier gains on Tuesday, while U.S. Treasury yields slipped as data showing a jump in U.S. inflation was in line with expectations gave investors some relief. The U.S. consumer price index rose 1.2% last month, the biggest increase in 16-1/2 years and cementing the case for a…
By Hannah Lang WASHINGTON (Reuters) -The dollar rebounded on Tuesday after digesting slightly softer-than-expected U.S. inflation data, while the euro extended losses ahead of a policy-setting meeting at the European Central Bank. Federal Reserve Governor Lael Brainard said on Tuesday that there were some signs of “welcome” cooling in the latest inflation readout, but emphasized…
By Gilles Guillaume PARIS (Reuters) -Renault Chief Executive Luca de Meo said on Tuesday that the automaker’s plans to create a separate division for its electric (EV) assets could eventually lead to a separate listing. “This could mean a separate listing. This is a conditional, this is precisely what we are reviewing,” De Meo told…
SAN FRANCISCO (AP) — Yelp will cover the travel expenses of employees who must travel out of state for abortions, joining the ranks of major employers trying to help workers affected by new restrictions in Texas and other states. The benefit announced Tuesday covers all 4,000 employees at the online review service, but seems most…
By Tim Hepher (Reuters) – Airbus urged Europe on Tuesday not to block imports of titanium from Russia, saying sanctions on the strategic metal would damage aerospace while barely hurting Russia’s economy. Widening the action taken after Russia’s invasion of Ukraine to titanium, used in airplanes and jet engines, would “not be appropriate,” Chief Executive…
SAN DIEGO (AP) — A California appeals court has upheld a lower court ruling that Johnson & Johnson must pay penalties to the state for deceptively marketing pelvic mesh implants for women, but reduced the amount by $42 million to $302 million. Johnson & Johnson had appealed in 2020 after Superior Court Judge Eddie Sturgeon…
