(Reuters) – The head of the New York Federal Reserve on Tuesday brushed aside concerns that the central bank may once again have to call an early end to reductions of its large-scale asset holdings because of a drop in reserves in the banking system. “I don’t agree with that concern,” New York Fed President…
MOSCOW (Reuters) -Russian gas giant Gazprom made a record 2.5 trillion roubles ($41.75 billion) in net profit in the first half of 2022 and its board recommended paying interim dividends after skipping its annual payout for the first time since 1998, the company said on Tuesday. Gazprom dividends are a sensitive issue for the market,…
JOHANNESBURG (AP) — Angola’s opposition party has filed a complaint against the election victory of the ruling MPLA party in which President Joao Lourenco won a second term and the party got a reduced majority in the legislature. The main opposition party, the National Union for the Total Independence of Angola, known as UNITA, said…
By Nichola Groom (Reuters) – First Solar Inc will spend $1.2 billion to expand its solar panel manufacturing operations in the United States, creating hundreds of jobs including with a new factory in the Southeast, the company said on Tuesday. It is among the first major corporate investments announced following the Inflation Reduction Act (IRA),…
PRAGUE (AP) — European Union nations were divided Tuesday over whether to slap a broad visa ban on Russian citizens, torn between a desire to ramp up pressure on President Vladimir Putin and concern about punishing people who may not even support his war on Ukraine. The 27-nation EU already tightened visa restrictions on Russian…
MILAN (Reuters) -Stellantis will halt its Sevel van making plant in central Italy from Wednesday to Saturday due to a shortage in supplies of parts, a spokesman for the company said on Tuesday. The Italian-French car maker has been taking decisions on its operations on a day-by-day, plant-by-plant basis since the start of the COVID…
NEW YORK (AP) — Best Buy posted lower fiscal second-quarter profits and sales as the nation’s largest consumer electronics chain struggled with weakening consumer demand for gadgets and high costs that rippled through its supply chain. But the results, announced on Tuesday, were above analysts’ expectations. That pushed shares up more than 2% higher in…
WASHINGTON (AP) — Following three straight monthly declines, U.S. consumer confidence rebounded in August as inflation moderated and gas prices fell. The Conference Board said Tuesday that its consumer confidence index rose in August to 103.2 from 95.3 in July. The business research group’s present situation index — which measures consumers’ assessment of current business…
WASHINGTON (AP) — The number of open jobs in the United States rose in July after three months of declines, a sign that employers are still urgently seeking workers despite a weakening economy and high inflation. The increase that the government reported Tuesday will be a disappointment for Federal Reserve officials, who are seeking to…
By Nina Chestney LONDON – The Nord Stream 1 pipeline that transports Russian gas to Germany will undergo maintenance from Aug. 31-Sept. 2, prompting concerns about supply to Europe if the outage is extended. Russia slashed flows through the pipeline to 40% of capacity in June and to 20% in July. It has also cut…
