WASHINGTON (Reuters) – The chief executives of General Motors Co, Ford Motor Co, Chrysler-parent Stellantis NV and Toyota Motor North America on Monday urged Congress to lift a cap on the $7,500 electric vehicle tax credit, saying it will “provide much-needed certainty to our customers and domestic workforce,” according to a letter seen by Reuters….
By Alex Lawler LONDON (Reuters) – Oil dropped almost $1 a barrel on Monday as a flare-up in COVID-19 cases in Beijing and worries about more interest rate hikes raised concern about demand, although tight global supplies limited losses. Beijing’s most populous district Chaoyang announced three rounds of mass testing to quell a “ferocious” COVID-19…
Many major companies have chosen to stay quiet on the abortion debate, but Yelp and its CEO Jeremy Stoppelman have chosen a different path. The San Francisco-based online reviews site is among the handful of companies covering travel costs for employees and their dependents who must travel out of state to obtain an abortion, a…
NEW YORK (AP) — Wall Street is back in the claws of a bear market as worries about inflation and higher interest rates overwhelm investors. The Federal Reserve has signaled it will aggressively raise interest rates to try to control inflation, which is the highest in decades. Throw in the war in Ukraine and a…
Early Market Thoughts Blood on the streets to kick off another busy week in the markets. The Fed looms as the major story for markets. We have seen faith in the Fed’s ability to battle inflation wane. This has knocked markets off a potential basing pattern that started to form and lead to a fresh…
(This June 12 story officially corrects Russian delegate’s name in paragraph 4 after WTO mistake) By Philip Blenkinsop and Emma Farge GENEVA (Reuters) – World Trade Organization chief Ngozi Okonjo-Iweala expressed cautious optimism on Sunday that more than 100 trade ministers meeting in Geneva would achieve one or two global deals this week, but warned…
By Saikat Chatterjee LONDON (Reuters) – Global government bonds extended a bruising selloff on Monday and the dollar resumed its march towards two-decade highs as red-hot U.S. inflation fuelled worries about even more aggressive policy tightening in a big week for central banks. A market gauge measuring the gap between U.S. two-year Treasury yields and…
(Reuters) – The European Central Bank needs to speed up the pace of interest rate tightening to 50 basis points in September after an initial hike of 25 basis points in July, Slovak Governing Council member Peter Kazimir said on Monday. “The summer is not the end of anything, just the beginning,” Kazimir said in…
BERLIN (AP) — The German government is setting in motion plans to legalize the sale of cannabis for recreational purposes, aiming to have legislation ready later this year. The Health Ministry said Monday that it will start holding expert hearings on various aspects of the issue Tuesday. It said that more than 200 representatives from…
BRUSSELS (Reuters) – Amazon has offered to limit its use of seller data and boost the visibility of rival products on its platform in a move that could lead to EU antitrust regulators closing their investigations without a fine by the end of the year, people familiar with the matter said. The world’s largest online…
