(Reuters) – The first shipments of infant formula from Europe to address a critical shortage in the United States should begin arriving this weekend, President Joe Biden said on Friday amid criticism of his administration’s handling of the issue. Biden said on Twitter the initial military cargo plane flights under “Operation Fly Formula” meant that…
By Noel Randewich and Amruta Khandekar (Reuters) – Wall Street ended mixed on Friday after a volatile session that saw Tesla slump and other growth stocks also lose ground. The S&P 500 and the Nasdaq logged their seventh straight week of losses, their longest losing streak since the end of the dotcom bubble in 2001….
By David Randall NEW YORK (Reuters) -The Federal Reserve’s determination to raise interest rates until it squashes the highest inflation in decades is darkening the outlook across Wall Street, as U.S. stocks stand on the cusp of a bear market and warnings of a recession grow louder. At issue is the so-called Fed put, or…
By Lewis Krauskopf NEW YORK (Reuters) – The stock market’s brutal year neared a grim milestone as the S&P 500’s slide on Friday threatened to leave it in a bear market for the first time since March 2020, fueled by worries over sky high inflation, a hawkish Federal Reserve and future economic growth. The benchmark…
By Amruta Khandekar and Noel Randewich (Reuters) – Wall Street ended mixed on Friday after a volatile session that saw Tesla slump and other growth stocks also lose ground. Worries about surging inflation and rising interest rates have pummeled the U.S. stock market this year, with danger signals from Walmart Inc and other retailers this…
By Hyunjoo Jin and Paul Lienert (Reuters) – Elon Musk has made a name for himself and Tesla by breaking the rules, but the billionaire’s latest comments on politics and a claim of sexual harassment against him that he said is untrue may hurt the brand in the eyes of some car owners and employees….
By Stephen Jewkes and Markus Wacket MILAN/BERLIN (Reuters) – Germany and Italy told companies they could open rouble accounts to keep buying Russian gas without breaching sanctions against Moscow following discussions with the European Union, sources said. The debate over Russia’s demand that foreign buyers pay for gas in roubles has tested the resolve of…
By Amruta Khandekar and Noel Randewich (Reuters) – The S&P 500 tumbled on Friday, putting the widely followed benchmark on the verge of confirming it has been in a bear market since hitting a record high in January. Worries about surging inflation and rising interest rates have pummeled the U.S. stock market this year, with…
By Bianca Flowers and Aishwarya Nair (Reuters) -Deere & Co on Friday missed Wall Street revenue targets and said it was having difficulty securing parts for its heavy machinery, sending shares down 14%. Deere gave a strong profit forecast for the full year that was overshadowed by comments that many of the machines it intended…
(Reuters) – India’s One 97 Communications Ltd, the parent of fintech firm Paytm, on Friday reported a wider fourth-quarter loss due to higher expenses related to payment processing, marketing and employee benefits. The company had said in April it expected to be operationally profitable by September 2023, though analysts have raised concerns over its business…
