WASHINGTON (Reuters) – The Federal Reserve will “keep pushing” to tighten U.S. monetary policy until it is clear inflation is declining, Fed chair Jerome Powell said on Tuesday. “What we need to see is inflation coming down in a clear and convincing way and we’re going to keep pushing until we see that,” Powell said…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rose strongly in April as consumers bought more motor vehicles amid an improvement in supply and increased spending at restaurants, providing a powerful boost to the economy at the start of the second quarter. The broad rise in retail sales reported by the Commerce Department on…
KYIV, Ukraine — Seven civilians have been killed in Ukraine’s eastern Donetsk region as a result of Russian attacks, the Ukrainian regional governor says. Pavlo Kyrylenko wrote in a Telegram post that Tuesday’s Russian attacks killed seven civilians of the Donbas: two in Bakhmutsky, two in Bakhmut, and one each in Avdiivka, Drobyshev and Soledar….
By Michael Shields ZURICH (Reuters) – Trading houses can decide for themselves whether commodity deals with state-controlled Russian companies meet the standard of being “strictly necessary” in order to avoid international sanctions, the Swiss agency in charge of enforcement said on Tuesday. The State Secretariat for Economic Affairs (SECO) had said last month it would…
By Uday Sampath Kumar and Siddharth Cavale (Reuters) -Walmart Inc reported a 25% drop in quarterly earnings and cut its full-year profit outlook on Tuesday as rising costs of fuel and labor hurt its bottom line while shoppers squeezed by decades-high inflation moved to buy lower-margin basics. Shares of the retailer fell nearly 10% in…
NEW YORK (Reuters) – Only 31% of votes cast in a shareholder advisory referendum on Tuesday supported JPMorgan Chase & Co in its special $52.6-million award last year to CEO Jamie Dimon to stay on the job for at least five more years. The preliminary count announced at the meeting is an unusual rebuff from…
(Reuters) – Telus Corp said on Tuesday it would invest $17 billion in network infrastructure, operations and spectrum across Canada’s Alberta over the next four years as the telecoms company seeks to expand its wireless networks. Telus, one of Canada’s largest telecoms company, has also committed to invest $70 billion overall across Canada by 2026….
LONDON (AP) — The British government dramatically escalated a fight with the European Union on Tuesday by saying it will pass a law to scrap parts of the trade treaty signed by the two sides less than two years ago. Britain says its move to singlehandedly change the legally binding treaty — an apparent breach…
By Greg Roumeliotis (Reuters) -Twitter Inc published its account on Tuesday of its deal negotiations with Elon Musk, showing he opted out of asking the questions about the social media company’s business he has now cited in declaring the $44 billion acquisition is “on hold.” The account, published in Twitter’s proxy statement that outlines what…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar eased for a third straight day on Tuesday, pulling back from a two-decade high against a basket of major peers, as an uptick in investors’ appetite for riskier bets diminished the U.S. currency’s safe-haven appeal. Upbeat earnings views from Home Depot and United Airlines along…
