(Reuters) – Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday his biggest fear is that the Fed and financial markets are underestimating underlying inflation pressures, and beating inflation will require even more aggressive rate hikes than he currently expects. Kashkari is already the most hawkish of all the central bank’s 19 policymakers, and…
By Jonathan Stempel NEW YORK (Reuters) -A U.S. federal judge on Monday rejected Goldman Sachs Group Inc’s bid to dismiss most of a 12-year-old class action alleging widespread bias against women in pay and promotions, and said the case will finally go to trial next June. U.S. District Judge Analisa Torres in Manhattan disagreed with…
By Joan Faus and Graham Keeley MADRID (Reuters) -A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February. The Axioma was impounded by the Gibraltar authorities in March…
By David Lawder WASHINGTON (Reuters) -The White House on Tuesday revised down its projected fiscal 2022 deficit to $1.032 trillion, a $383 billion reduction from its budget forecast in March, reflecting stronger-than-expected revenues offset by new spending and technical re-estimates of healthcare and other outlays. The White House’s mid-session budget review includes the impact of…
OMAHA, Neb. (AP) — Billionaire Warren Buffett is auctioning off a high-tech signed portrait of himself to raise money for one of his favorite charities, and the bidding has already topped $30,000. The portrait of Buffett created by Motiva Art features a grid of letters over the picture that light up to spell out several…
LONDON (AP) — Prime Minister Boris Johnson has decided to show Britain’s solidarity with Ukraine by saying it with flowers on Tuesday. The outgoing U.K. leader created an arch of sunflowers — Ukraine’s national flower — outside his Downing Street office to commemorate the eastern European nation’s independence day on Wednesday. The gesture also comes…
NEW YORK (AP) — Unlike its cars, Tesla shares are about to get less expensive. Tesla is splitting its stock 3 for 1, so after the close of trading Tuesday, investors will receive two additional Tesla shares for every one they owned as of Aug. 17. In theory, that should drop Tesla’s share price by…
By Hilary Russ NEW YORK (Reuters) -The union representing Starbucks Corp employees at about 200 of its cafes said on Tuesday the coffee chain closed two locations in retaliation for organizing activities there, though the company cited business and safety reasons for the closures. Employees at the two stores – one in Kansas City, Missouri,…
ANCONA, Italy (AP) — Leading her first election campaign rally, Italian far-right leader Giorgia Meloni on Tuesday slammed the European Union energy’s strategy, saying families and businesses are being “brought to their knees” by soaring prices. Meloni, who has been buoyed for weeks by opinion polls showing her leading in her quest to become Italy’s…
NEW YORK (AP) — And back down goes Wall Street. After getting mauled most of the year, prices for all kinds of investments steadied in the summer and were heading back up. The recovery was so strong that some investors wondered if Wall Street’s “bear market” was coming to an end. Now, such questions are…
