June 15, 2022

By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 rose more than 1% in choppy trading on Wednesday after a policy announcement by the Federal Reserve that raised interest rates to meet market expectations as the central bank tries to fight rising inflation without tilting the economy into a recession. The Federal Reserve raised…

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks pared gains on Wednesday on the heels of a policy announcement by the Federal Reserve that raised interest rates to meet market expectations as the central bank attempts to cool rising inflation without tipping the economy into a recession. The Federal Reserve raised its target interest…

By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Reuters) – U.S. President Joe Biden on Wednesday demanded oil refining companies explain why they are not putting more gasoline on the market, sharply escalating his rhetoric against industry as he faces pressure over rising prices. Biden wrote to executives from Marathon Petroleum Corp , Valero Energy Corp…

EVERETT, Wash. (Reuters) – Boeing on Wednesday said it was making progress but declined to offer a clear timeline when it believes it can win approval for its 737 MAX 10 as it faces a tougher regulatory climate, a company executive said on Wednesday. Boeing faces a December deadline to win approval for the 737…

By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Toymaker Lego on Wednesday said it will invest more than $1 billion in a factory in the United States to shorten supply chains and keep up with growing demand for its coloured plastic bricks in one of its biggest markets. The factory in Chesterfield County, Virginia, will be the…

PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Wednesday that the euro zone was “in the middle of an inflation peak” which would last until the end of the year “at least”, but added there was still a lot of uncertainty. Le Maire told Les Echos in an interview that he expects…

By Tom Wilson and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) -Bitcoin slumped on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryptocurrency fell as much as 7.8% to $20,079.72, its lowest since December 2020….

By Julia Payne LONDON (Reuters) – Saudi Aramco is planning to merge two energy trading units, people familiar with the matter said, with Aramco Trading Co (ATC) due to absorb Motiva Trading ahead of a potential initial public offering of the business. The move to combine the businesses is expected to give potential investors a…

BERLIN (Reuters) – Volkswagen-led consortium Green Mobility Holdings has acquired 87.38% of France’s Europcar, enough to give it control over the car rental group but below its targeted 90% threshold, Volkswagen said on Wednesday. Shareholders have the option to tender their stock until June 29, the carmaker said. Volkswagen and its consortium partners, asset manager…