By Rajesh Kumar Singh and Aishwarya Nair (Reuters) -Delta Air Lines Inc and United Airlines on Wednesday played down the risk of a U.S. economic recession and said a switch in consumer spending to services from goods would keep their businesses humming. Delta also lifted its revenue forecast for the quarter through June despite trimming…
By David Shepardson (Reuters) -The U.S. Postal Service (USPS) said on Wednesday it is seeking to boost the number of electric delivery vehicles it plans to buy as it modernizes its network for a new delivery plan. The USPS currently plans to buy at least 10% EVs including 10,019 of an initial $2.98 billion order…
By Jarrett Renshaw and Stephanie Kelly (Reuters) -The Biden administration is likely to raise ethanol blending mandates for 2021 above the figure it proposed in December to align with actual U.S. consumption levels, according to two sources briefed on the decision. In December, the U.S. Environmental Protection Agency proposed that refiners blend 13.32 billion gallons…
By David Lawder and Michael Martina WASHINGTON (Reuters) -The United States will launch new trade talks with Taiwan, U.S. officials said on Wednesday, just days after the Biden administration excluded the Chinese-claimed island from its Asia-focused economic plan designed to counter China’s growing influence. Washington and Taipei will “move quickly to develop a roadmap” for…
(Reuters) -Warner Bros Pictures Group Chairman Toby Emmerich is stepping down, the company announced Wednesday, as Warner Bros Discovery CEO David Zaslav puts his imprimatur on the newly formed media company. Emmerich has served as chairman of the studio since 2018, the year the studio had its greatest box office success, fueled by such hits…
(Reuters) – Meta Platforms Inc Chief Operating Officer Sheryl Sandberg will leave the social media company after 14 years, according to her Facebook post. Shares of the company fell about 4% following the news. Sandberg said she was not sure of what the future holds for her, but she plans to focus on her foundation…
DETROIT (AP) — Ford’s chief executive says he expects the cost of building electric vehicles to fall to the point that in coming years automakers will be battling each other for sales of EVs priced around $25,000. CEO Jim Farley told the Bernstein Strategic Decisions Conference on Wednesday that the $25,000 price tag will democratize…
By David Shepardson NEW YORK (Reuters) – New York officials on Wednesday celebrated the six-year $8 billion reconstruction of the city’s long-derided LaGuardia airport with a brand new Delta Air Lines terminal. Delta’s glittering 1.3 million-square foot $4 billion Terminal C will begin flights on Saturday at nine of the 37 new gates. Delta, the…
By Lindsay Dunsmuir (Reuters) – The economy in the majority of regions in the United States expanded at a modest or moderate growth pace from April through late May and there were signs that the Federal Reserve’s actions to cool demand were beginning to be felt, a Fed report showed on Wednesday. The latest temperature…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings fell in April, but remained at significantly high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on…
