By Joice Alves and Hannah Lang LONDON/WASHINGTON (Reuters) – The euro gave back earlier gains on Wednesday after European Central Bank President Christine Lagarde said the era of ultra low inflation that preceded the pandemic is unlikely to return. Speaking at a panel at the ECB Forum in Sintra, Portugal, alongside U.S. Federal Reserve Chairman…
WASHINGTON (AP) — The new head of the government’s road safety agency says it will intensify efforts to understand the risks posed by automated vehicle technology so it can decide what regulations may be necessary to protect drivers, passengers and pedestrians. In an interview Wednesday, Steven Cliff, who was confirmed last month as head of…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there’s “no guarantee” the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can achieve a so-called soft landing — raising interest rates just enough to…
By Dawn Chmielewski PORT CANAVERAL, Fla. (Reuters) – Chief Executive Bob Chapek is set to christen Walt Disney Co’s first new cruise ship in a decade on Wednesday, the culmination of the first project the former theme parks executive championed to the company’s board of directors. The launch of the 4,000-passenger Disney Wish will be…
JERUSALEM (AP) — A new agreement in Israel will put Ben & Jerry’s ice cream back on shelves in annexed east Jerusalem and the occupied West Bank despite the ice cream maker’s protest of Israeli policies, according to Unilever, the company that owns the brand. The Vermont company, which has long backed liberal causes, said…
BERLIN (Reuters) – German trade union Verdi has called on technical staff at Hamburg Airport to go on strike on Friday, just as school holidays in the region kick off, adding to the existing industry-wide crunch. Airlines around the world had slashed jobs and other costs during the coronavirus pandemic, which grounded most flights, and…
Bed Bath & Beyond’s CEO was ousted Wednesday as the home goods retailer struggles to figure out what people want to buy. Board member Sue Gove will take over as interim CEO, the company said Wednesday, replacing Mark Tritton. Bed Bath & Beyond hired Tritton in late 2019. He’d previously been the chief merchandising officer…
(Reuters) – The S&P 500 and the Nasdaq fell after the opening bell on Wednesday, after several policymakers made a case for faster interest rate hikes to tamp down inflation as a string of recent data continued to paint a dour picture for the economy. At 9:33 a.m. ET, the S&P 500 was down 9.67…
By Andrea Shalal MADRID (Reuters) – World Bank chief economist Carmen Reinhart said it could take many more years before the growing number of heavily indebted countries see any substantive reduction in their debts. Reinhart, who returns to Harvard University on July 1 after a two-year public service leave, said the economic woes facing Sri…
MOSCOW (AP) — As the ruble strengthens to levels not seen in seven years, Russia’s minister of economic development warned Wednesday that the country’s businesses could suffer if the trend persists. The ruble hit all-time lows in the first weeks after Russia sent troops into Ukraine in late February, dropping as much as 50%, to…