By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and houses, which could curtail economic growth. The survey from the Conference Board on Tuesday also showed consumers’ perceptions of…
By Laura Sanicola (Reuters) -Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka. World fuel demand has rebounded to pre-pandemic levels, but the combination of pandemic closures, sanctions…
SHANGHAI (AP) — Shanghai authorities say they will take major steps Wednesday toward reopening China’s largest city after a two-month COVID-19 lockdown that has set back the national economy and largely confined millions of people to their homes. Already, a steady stream of people strolled in the Bund, the city’s historic waterfront park, on a…
(Corrects headline to say ISS urges Spirit shareholders to reject Frontier offer, not ISS urges Spirit shareholders to pick JetBlue offer over Frontier) (Reuters) – Proxy advisory firm Institutional Shareholder Services Inc (ISS) has urged shareholders of Spirit Airlines to vote against a proposed merger with Frontier Group Holdings. JetBlue Airways Inc’s competing offer of…
By Julie Gordon OTTAWA (Reuters) -Canada’s economy was not as robust as expected in the first quarter, but had momentum heading into the second, official data showed on Tuesday, reinforcing the likelihood of another oversized rate hike from the central bank this week. The Canadian economy grew at an annualized rate of 3.1% in the…
(Reuters) – JPMorgan Chase and Co has named Thomas Cassin as vice chair of global debt capital markets for the bank’s investment banking unit, according to an internal memo seen by Reuters on Tuesday. Cassin, a four-decade veteran at the bank, will work on acquisition and strategic financing opportunities in his new role and will…
The unofficial start of summer over the Memorial Day weekend offers a troubling glimpse of what lies ahead for travelers during the peak vacation season. U.S. airlines canceled more than 2,800 flights from Thursday through Monday, or about 2% of their schedules, according to tracking service FlightAware. Delta Air Lines, usually among the top performers,…
By Balazs Koranyi, Jan Strupczewski and Francesco Canepa FRANKFURT (Reuters) -European Central Bank policymakers sparred over the size of their upcoming rate increases on Tuesday as data showed euro zone inflation rising to another record high in May. Prices have risen sharply across Europe in the past year, with the ECB initially blaming lingering supply…
SILVER SPRING, Md. (AP) — U.S. consumer confidence edged lower in May as Americans’ view of their present and future prospects dimmed in the midst of persistent inflation. The Conference Board said Tuesday that its consumer confidence index dipped to 106.4 in May — still a strong reading — from 108.6 in April. The business…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar rose across the board on Tuesday as Treasury yields climbed and worries over a further acceleration in global inflation kept investors’ risk appetite at bay. The dollar was supported by demand for havens. U.S. stocks fell on Tuesday as soaring oil prices and hawkish…
