By Gertrude Chavez-Dreyfuss and Samuel Indyk NEW YORK/LONDON (Reuters) – The Japanese yen plunged against the U.S. dollar on Tuesday to its lowest since October 1998, as the Bank of Japan’s ultra-loose monetary policy was in stark contrast to an aggressive Federal Reserve determined to stamp out soaring inflation. The yen dropped to a new…
Two Black executives at Amazon are leaving the company, the e-commerce juggernaut confirmed Tuesday, hours after CEO Andy Jassy named a new head for the company’s troubled retail business. Alicia Boler Davis, a senior vice president who oversees the company’s warehouses, and David Bozeman, the vice president of the Amazon’s Transportation Services, have decided “to…
By Daniel Wiessner (Reuters) -A Black former elevator operator at Tesla Inc’s flagship California assembly plant on Tuesday rejected a $15 million award in his lawsuit alleging racial abuse by coworkers, opening the door for a new trial after a judge slashed a $137 million jury verdict. Lawyers for Owen Diaz, who had sued Tesla…
By Paresh Dave OAKLAND, Calif. (Reuters) – Microsoft Corp on Tuesday said it would stop selling technology that guesses someone’s emotion based on a facial image and would no longer provide unfettered access to facial recognition technology. The actions reflect efforts by leading cloud providers to rein in sensitive technologies on their own as lawmakers…
By Andrew Mills, Yousef Saba and Hyunjoo Jin DOHA (Reuters) -Elon Musk, CEO of Tesla, said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a U.S. recession was more likely than not. His remarks were his most detailed explanation of job…
LONDON (AP) — Tens of thousands of railway workers walked off the job in Britain on Tuesday, bringing the train network to a crawl in the country’s biggest transit strike for three decades — and a potential precursor to a summer of labor discontent. About 40,000 cleaners, signalers, maintenance workers and station staff held a…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed. Inflation has proved higher and far more persistent than he or the Fed’s staff economists…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. existing home sales tumbled to a two-year low in May as prices jumped to a record high – topping the $400,000 mark for the first time – and as mortgage rates increased further, sidelining first-time buyers from the market. Despite the fourth straight monthly drop in sales and declining…
By Arathy Somasekhar HOUSTON (Reuters) -Oil rose $1 per barrel on Tuesday on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.18 , or 1%, to $115.31 a barrel by 11:12 a.m. ET (1512 GMT). The U.S. West Texas Intermediate (WTI)…
By Praveen Paramasivam and Deborah Mary Sophia (Reuters) -Snack and cereal giant Kellogg said on Tuesday it would split into three independent companies, in the latest U.S. corporate overhaul aimed at simplifying its structure and focusing on expanding its snack business. Shares of the company, which began life in 1894 when W.K Kellogg created Corn…
