LONDON (AP) — Mideast carrier Emirates on Thursday rejected a demand by London’s Heathrow Airport for airlines to cut the number of passengers on summer flights in a bid to ease travel disruptions, calling it an “entirely unreasonable and unacceptable” move that shows “blatant disregard for customers.” In a blistering statement, the airline accused Heathrow’s…
WASHINGTON (AP) — Christopher Waller, a member of the Federal Reserve’s Board of Governors, said Thursday that he would be open to supporting a huge 1 percentage point increase in the Fed’s key short-term interest rate later this month if upcoming economic data points to robust consumer spending. Such an increase would mark a further…
By Ann Saphir (Reuters) -Federal Reserve Governor Christopher Waller said on Thursday he supports another 75-basis-point interest rate increase at the U.S. central bank’s policy meeting later this month, but would lean toward a larger hike if incoming data shows demand is not slowing fast enough to bring inflation down. The Fed “is now, and…
WASHINGTON (AP) — Average long-term U.S. mortgage rates were back up this week, just as the latest government data shows inflation has not slowed, meaning the Federal Reserve is almost certain to raise its benchmark borrowing rate later this month. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.51% from 5.30%…
MADRID (Reuters) – Spanish billionaire and Zara founder Amancio Ortega is in talks to buy a 64-floor skyscraper in New York’s Financial District, his private firm Pontegadea said on Thursday. It confirmed an earlier report by the real state website The Real Deal, which said the company would pay $500 million for the property. “There…
By Howard Schneider WASHINGTON (Reuters) – Big wage gains for lower-paid U.S. workers, a hallmark of the pandemic economy, were concentrated in less expensive cities, according to a new study that points to another potential stumbling block in getting the job market fully back to normal. The study, released on Thursday by payroll processor ADP,…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits last week hit its highest level in nearly 8 months, but the total number of those collecting benefits fell. Applications for jobless aid for the week ending July 9 rose by 9,000 to 244,000, up from the previous week’s 235,000, the Labor Department reported…
NEW YORK (AP) — Profits at JPMorgan Chase fell by 28% in the second quarter as the bank tries to navigate an economy that’s showing strength in many areas but losing steam as interest rates continue to rise, hitting consumers and corporations alike. The nation’s largest bank by assets said Thursday that it earned a…
WASHINGTON (AP) — Inflation at the wholesale level climbed 11.3% in June compared with a year earlier, the latest painful reminder that inflation is running hot through the American economy. The Labor Department reported Thursday that the U.S. producer price index — which measures inflation before it hits consumers — rose at the fastest pace…
(Reuters) -Twitter Inc was down for thousands of users across the globe on Thursday, its first such outage since February, according to outage tracking website Downdetector.com. There were more than 27,000 incidents of people reporting issues with Twitter in the United States, according to the website. Users in other countries including the United Kingdom, Mexico,…
