WASHINGTON (AP) — Another month, another four-decade high for inflation. For the 12 months that ended in March, consumer prices rocketed 8.5%. That was the fastest year-over-year jump since 1981, far surpassing February’s mark of 7.9%, itself a 40-year high. Even if you toss out food and energy prices — which are notoriously volatile and…
(Reuters) – Ferrero said on Tuesday it was voluntarily recalling some of its Kinder chocolates in the United States, saying the products may be contaminated with Salmonella Typhimurium. There are no reports of illness in the United States to date from the chocolates, Ferrero added. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)
Earnings season is upon us. Investors want to see the impact of rising input costs and supply chain constraints on companies sales and margins. The reports come at a critical moment for markets as indices sit on key support levels. Banks dominate the early part of earnings season. When your business is your balance sheet…
By Lindsay Dunsmuir and Ann Saphir (Reuters) -Federal Reserve Governor Lael Brainard on Tuesday said the U.S. central bank could start to trim its balance sheet in June, which along with a series of interest rate hikes will help bring down 40-year-high inflation. “In terms of exactly what the right pace of that set of…
By Mimosa Spencer PARIS (Reuters) -Strong demand for Louis Vuitton and Dior products helped lift first quarter sales at the world’s largest luxury goods conglomerate LVMH, showing the sector’s resilience despite geopolitical tensions and volatile stock markets. LVMH, which owns brands spanning Hennessy cognac and Sephora, said like-for-like sales, which strip out the effect of…
NEW YORK (AP) — The Consumer Financial Protection Bureau is suingTransUnion and one of its long-time executives alleging that the credit company completely “disregarded” a previous order from five years ago to stop selling dubious credit-related products and marketing. TransUnion entered into an agreement with the CFPB in 2017, agreeing to pay $13.9 million in…
Boeing has removed 141 airplanes from its backlog of pending orders, many of them because of what it termed geopolitical considerations including restrictions on sales because of sanctions like those imposed on Russia for its war against Ukraine. That means that Boeing now questions whether those sales will ever be completed because of sanctions. Boeing…
By Katanga Johnson WASHINGTON (Reuters) – World stocks edged higher after a wobbly start on Tuesday, while U.S. Treasury yields slipped as data showing a jump in U.S. inflation was in line with expectations. 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…
DETROIT (AP) — Toyota, the top-selling automaker in the U.S., is rolling out its first fully electric vehicle in eight years. The company on Tuesday unveiled the battery-powered bZ4X small SUV, which starts at $42,000 and can go up to 252 miles (406 kilometers) per charge. The bZ4X, which will be sold globally, adds to…
By David Lawder WASHINGTON (Reuters) – The COVID-19 pandemic wreaked havoc on global supply chains but new International Monetary Fund research shows that more diversification of source countries and inputs can significantly reduce the economic drag from supply disruptions. In an analytical chapter of its forthcoming World Economic Outlook, IMF researchers said that countries experienced…
