By Herbert Lash NEW YORK (Reuters) – The dollar rose and Treasury yields jumped on Wednesday ahead of a speech in two days by Federal Reserve Chair Jerome Powell that may affirm the U.S. central bank’s aggressive policy to tame inflation or signal a “pivot” to subdued interest rate hikes. U.S. and European shares gained…
(Corrects Brent settlement price in paragraph 3) By Laura Sanicola (Reuters) -Oil prices ended Wednesday higher after a volatile trading session on concerns that the United States will not consider additional concessions to Iran in its response to a draft agreement that would restore Tehran’s nuclear deal – and potentially the OPEC member’s crude exports….
NEW YORK (AP) — Peloton’s high-end exercise bikes and other gear will now be able to be bought on Amazon in the U.S., a partnership aimed at boosting the fitness company’s sales that have languished since the easing of pandemic lockdowns. “We want to meet consumers where they are, and they are shopping on Amazon,”…
By Markus Wacket BERLIN (Reuters) – Germany’s government is concerned about possible problems with the coal supply for power plants in the autumn and winter due to low water levels on the river Rhine and the oil supply in eastern parts of the country, a document seen by Reuters said. Europe’s biggest economy is trying…
By Dietrich Knauth (Reuters) – A U.S. bankruptcy judge on Wednesday declined to appoint an equity committee in Revlon Inc’s bankruptcy, rejecting a minority shareholder demand for a greater say in the cosmetics company’s restructuring. U.S. Bankruptcy Judge David Jones in Manhattan said shareholder interests were already represented in the bankruptcy by Revlon, majority shareholder…
BERLIN (AP) — Germany will keep exporting electricity to neighboring France despite calling on people to help fend off winter shortages by saving energy at home, officials said Wednesday. Problems at French nuclear plants have driven up electricity prices there in recent months, prompting power companies in neighboring countries to sell excess energy to France….
By Nell Mackenzie LONDON (Reuters) – Investors yanked a net $7.8 billion out of hedge funds in the second quarter, industry data published on Wednesday showed, as volatile markets sent many looking for safer places to keep their cash. Large investors like pension funds, asset managers and family offices pulled more money out of hedge…
BERLIN (Reuters) – China is exerting increasing pressure on foreign companies doing business in its markets to bring them into line with its political agenda, broadening the “red lines” for issues to which it is allergic, a German study seen by Reuters shows. A survey of more than 100 companies by the Berlin-based Merics think…
WASHINGTON (Reuters) – The U.S. economy likely created 462,000 more jobs in the 12 months through March than previously estimated, the Labor Department’s Bureau of Labor Statistics said on Wednesday. The reading is a preliminary estimate of the BLS’ annual “benchmark” revision to the closely watched payrolls data. Once a year, the BLS compares its…
NAIROBI, Kenya (AP) — Ethiopia’s military has launched a “large-scale” offensive for the first time in a year in the northern Tigray region, Tigray authorities alleged Wednesday, while the government countered that Tigray forces attacked first. It’s a significant setback to mediation efforts as millions of people remain starved of food and other needs. The…
