(Reuters) – U.S. employers in the technology sector cut nearly nine times more jobs in May than in the first four months of the year as rising inflation and slowing demand force companies to cut corners. Though overall layoffs in the country reported by global outplacement firm Challenger, Gray & Christmas on Thursday fell 14.7%…
By Trevor Hunnicutt WASHINGTON (Reuters) -The White House is considering proposals that would tax oil and gas windfall profits in order to provide a benefit to consumers struggling with higher energy prices, a U.S. official said on Thursday. Bharat Ramamurti, the deputy director of President Joe Biden’s National Economic Council, said the administration has been…
BRUSSELS (AP) — Thanks to the insistence of Hungary, the head of the Russian Orthodox Church has been removed from the latest round of European Union sanctions to punish Russia’s invasion of Ukraine, four EU diplomats told The Associated Press. The sixth package of sanctions, which includes an embargo on most Russian oil imports into…
(Reuters) – McDonald’s Corp will have an option to buy its restaurants in Russia back within 15 years, Russia’s anti-monopoly service said in a statement on Thursday. The service approved a deal in which the fast-food company sold the restaurants to one of its local licensees – Alexander Govor, who will rebrand them, ending more…
By Susan Mathew and Bansari Mayur Kamdar (Reuters) -European shares bounced on Thursday, led by industrial and luxury names, with gains limited by lingering worries over slowing economic growth and rising prices. The pan-European STOXX 600 index rose 0.6% after losing nearly 2% over the last two sessions. Volumes are expected to be subdued as…
By Simon Lewis and Doina Chiacu WASHINGTON (Reuters) -The Biden administration on Thursday issued a raft of new sanctions aimed a punishing Russia for its invasion of Ukraine, with targets including several yachts linked to Russian President Vladimir Putin, an oligarch who heads a major steel producer, and a cellist it says acts as a…
For years California, Florida, Oregon, Washington, and other states have relied on incarcerated men and women to fight wildfires. They are trained to perform grueling work while earning just a few dollars, sometimes as little as $2 a day. Incarcerated workers who serve as volunteer firefighters help contain and combat blazes as wildfires have become…
WASHINGTON (Reuters) – The United States has issued a fresh round of Russia-related sanctions targeting 17 individuals, including Sergei Roldugin, a close associate of Russian President Vladimir Putin, a U.S. Department of Treasury said in a notice on its website Thursday. The latest sanctions also targeted 16 entities, seven vessels and three aircraft, the notice…
It has been a difficult period for highly valued tech names. Dow component Salesforce, Inc (CRM) has been one of the worst-performing mega-cap growth names as its business model around M&A activity and stock-based compensation has stretched valuations. Shares of CRM were down 37% in 2022 heading into its Tuesday afternoon earnings report. This compares…
NEW YORK (Reuters) – Bank of America Corp’s Merrill Lynch unit must pay more than $15.2 million to thousands of customers who bought Class C mutual fund shares when Class A shares were available at substantially lower costs, a U.S. regulator said on Thursday. The Financial Industry Regulatory Authority said Merrill did not admit or…
