By Stephen Culp NEW YORK (Reuters) – Wall Street closed sharply higher on Friday as signs of peaking inflation and consumer resiliency sent investors into the long holiday weekend with growing optimism that the Federal Reserve will be able to tighten monetary policy without tipping the economy into recession. All three major U.S. stock indexes…
By David Randall NEW YORK (Reuters) -Bad news may once again be good news on Wall Street, as signs of slowing U.S. growth fan hopes that the Federal Reserve may not need to tighten policy as much as previously expected. Home sales have fallen for a third straight month, while big misses from retail giants…
(Reuters) – Amazon.com Inc’s investor-led proposal to review its use of plastic won 49% support even as shareholders voted down all the 15 resolutions at the e-commerce giant’s annual general meeting, a regulatory filing showed on Friday. It was the only proposal that came close to reaching the 51% mark for approval. Investors opposed resolutions…
By Mike Stone WASHINGTON (Reuters) -The U.S. Army said on Friday it has awarded a contract worth $625 million to Raytheon Technologies Corp for anti-aircraft Stinger missiles in order to replenish stocks sent to Ukraine. The shoulder-fired anti-aircraft Stinger missiles made by Raytheon were in hot demand in Ukraine, where they have successfully stopped Russian…
By Jody Godoy (Reuters) – Robinhood Markets Inc has agreed in principle to settle a proposed class action filed by customers in the United States who claimed the investment app’s outages in March 2020 shut them out of trading on pandemic-related volatility. The company filed notice of the pending deal with a San Francisco federal…
SAN FRANCISCO (AP) — Top officials from California and New Zealand signed a pledge Friday agreeing to help fight climate change by sharing ideas and best practices, including how to put millions more electric vehicles on the road. Gov. Gavin Newsom, a Democrat, and New Zealand Prime Minister Jacinda Ardern spoke about the agreement at…
(Reuters) – The U.S. Securities and Exchange Commission (SEC) is looking into Tesla CEO Elon Musk’s disclosure of his stake in Twitter Inc in early April, according to a letter the agency sent to him in April. Meanwhile, Twitter stock has consistently traded below Musk’s offer price of $54.20 per share since the announcement of…
WASHINGTON (Reuters) – The U.S. Federal Reserve is carrying $330 billion in unrealized losses on its holdings of U.S. Treasury and mortgage-backed securities as of the end of March, according to newly released financial statements showing the impact of rising interest rates on the market value of the Fed’s balance sheet. The central bank’s holdings…
TUCSON, Ariz. (AP) — A federal judge has rejected a request by Native American tribes to stop Toronto-based Hudbay Minerals Inc. from preparing a planned new Arizona copper mine’s site in the Santa Rita Mountains near Tucson. U.S. District Judge James Soto refused to issue a temporary restraining order and dismissed the lawsuit filed by…
WASHINGTON (Reuters) – The U.S. Trade Representative’s office on Friday said it extended tariff exclusions on Chinese-made medical products needed to address the COVID-19 pandemic for another six months, to Nov. 30. The exclusions from tariffs of up to 25% imposed by former President Donald Trump’s administration were granted in 2020 and were subsequently extended,…
