By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks fell on Wednesday as Treasury yields rose above the psychologically important 3% level and oil prices jumped, fanning worries about inflation and the outlook for interest rates. The S&P 500 ended down more than 1% in the broad sell-off, snapping a two-day winning streak. Among its…
WASHINGTON (AP) — The nomination of Michael Barr, President Joe Biden’s choice to be the top regulator on the Federal Reserve’s Board of Governors, was approved Wednesday by a congressional committee and sent to the full Senate. Barr, who served as a top Treasury Department official in the Obama administration, is considered likely to be…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended lower on Wednesday as Treasury yields rose above the psychologically important level of 3% and oil prices jumped, fanning worries about inflation and the outlook for interest rates. The technology sector fell, with shares of Intel Corp dropping after Citi Research said the chipmaker could…
By Yoruk Bahceli (Reuters) – Euro zone interest rates rising to at least 0% by September seems like a done deal as inflation soars, but how high rates should go thereafter is dividing policymakers and economists in a bloc of 19 vastly different economies. The European Central Bank meets on Thursday and is expected to…
By Daniel Wiessner (Reuters) -Tesla Inc cannot pause a California civil rights agency’s lawsuit alleging widespread race discrimination at an assembly plant while the electric carmaker separately challenges the agency’s ability to sue employers, a judge ruled on Wednesday. California Superior Court Judge Evelio Grillo in Oakland said during a hearing that Tesla could pursue…
(Reuters) – Tesla Inc cannot pause a California civil rights agency’s lawsuit alleging widespread race discrimination at an assembly plant as it separately challenges the agency’s ability to sue employers, a judge ruled on Wednesday. California Superior Court Judge Evilio Grillo in Oakland said during a hearing that Tesla could pursue its claims the state…
MADRID (Reuters) – Ryanair has halted talks with two Spanish unions over a salary hike, the unions said, amid threats the low-cost airline’s cabin crew could go on strike in several European countries during the summer season. Europe’s biggest budget airline walked away from the talks on Tuesday arguing the strike threat by European unions…
By Sheila Dang and Greg Roumeliotis (Reuters) -Twitter Inc plans to hold a shareholder vote by early August on its $44 billion sale to Elon Musk, as it continues to work “constructively” to complete the deal with the world’s richest person, the social media company’s top executives told employees on Wednesday. Musk’s lawyers warned Twitter…
By Scott DiSavino NEW YORK (Reuters) -Oil prices jumped about 3% to a 13-week high on Wednesday as U.S. demand for gasoline has kept rising despite record pump prices, on expectations China’s oil demand will increase and on growing supply concerns in several countries. Brent futures rose $3.59, or 3.0%, to $124.16 a barrel by…
By Ron Bousso, Sabrina Valle and Marwa Rashad HOUSTON (Reuters) – Italian producer Eni has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the matter said on Wednesday. Exxon Mobil Corp, TotalEnergies…
