ST. PETERSBURG, Russia (AP) — President Vladimir Putin said at Russia’s showpiece investment conference Friday that the country’s economy will overcome “reckless and insane” sanctions, while condemning the United States for acting like “God’s own messengers on planet Earth.” Putin began his address to the St. Petersburg International Economic Forum with a lengthy denunciation of…
(Reuters) -Federal Reserve policymakers on Friday began to publicly sketch out their views of the outlook for interest rates and the U.S. economy, two days after the central bank rolled out its largest interest rate increase in more than a quarter of a century to stem a surge in inflation. Both the Fed and the…
(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari on Friday said he supported the U.S. central bank’s 0.75 percentage point interest-rate hike this week and could support another similar-sized one in July, but said the Fed should be “cautious” about doing too much too fast. “A prudent strategy might be, after the July meeting,…
Vince McMahon is stepping down as CEO and chairman of WWE during an an investigation into alleged misconduct involving the longtime leader and public face of the organization. McMahon will continue to oversee WWE’s creative content during the investigation, World Wrestling Entertainment said Friday, and named McMahon’s daughter, Stephanie, as interim CEO and chairwoman. Vince…
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices fell almost 2% on Friday and were on track for a weekly decline as interest rate hikes from major central banks fuelled worries about a sharp economic slowdown. Brent crude was down $2.19, or 1.8%, at $117.62 a barrel at 1334 GMT, and U.S. West Texas Intermediate (WTI)…
By Joey Roulette and Eric M. Johnson (Reuters) -Private rocket company SpaceX fired at least five employees after it found they had drafted and circulated a letter criticizing founder Elon Musk and urging executives to make the firm’s culture more inclusive, two people familiar with the matter said. SpaceX did not immediately respond to a…
Following a string of union victories at Amazon and Starbucks, a group of prominent progressive grant makers is seeking to put a total of $20 million into a coalition with organized labor that will steer funds to organizing and advocacy campaigns in the South. A contentious battle to unionize an Amazon warehouse in Bessemer, Ala.,…
(Reuters) – The development of an official digital version of the U.S. dollar could help safeguard its global dominance as other countries issue their own, Fed Chair Jerome Powell said on Friday, weighing in with generally positive remarks on a hot-button topic at the central bank that has left policymakers divided. “A U.S. CBDC (central…
PRAGUE (AP) — Russia reduced natural gas to Europe again Friday, including cutting flows by half to Italy and Slovakia and completely to France, as countries have worked to ease their dependence on Russian supplies amid the war in Ukraine. It marks the third day of significant reductions to the fuel that powers industry and…
(Reuters) – U.S. stock index futures bounced back on Friday from a brutal Wall Street selloff this week after the Federal Reserve’s largest rate hike since 1994 and tightening measures by other major central banks raised fears of a recession. The benchmark S&P 500 and the tech-heavy Nasdaq have both plunged 6% so far this…
