LUXEMBOURG (Reuters) – Euro zone inflation is set to go higher and price growth is likely to be more persistent than earlier thought, European Central Bank board member Isabel Schnabel said on Thursday, defending the ECB’s plans to raise interest rates further. The ECB has lifted rates by a combined 125 basis points over its…
WASHINGTON (AP) — Federal regulators are ordering Amazon founder Jeff Bezos and CEO Andy Jassy to testify in the government’s investigation of Amazon Prime, rejecting the company’s complaint that the executives are being unfairly harassed in the probe of the popular streaming and shopping service. The Federal Trade Commission issued an order late Wednesday denying…
By Laura Sanicola (Reuters) -Oil rose on Thursday in volatile trading focused on Russian oil supply concerns and as the Bank of England hiked interest rates less than some had expected. Brent crude futures were up 75 cents, or 0.8%, at$90.58 per barrel by 12:17 p.m. EDT (1617 GMT), after rising by more than $2…
By Uday Sampath Kumar (Reuters) -Target Corp said on Thursday it plans to hire up to 100,000 seasonal workers for the holiday season and start offering festive deals earlier than previous years as it gears up for the critical shopping period amid a slowing economy. The big-box retailer had hired 100,000 workers for last year’s…
NEW YORK (AP) — The CEOs of the nation’s biggest banks returned to Capitol Hill for a second day Thursday, and Senate Democrats strongly urged them to do more to help and protect their customers, while Republicans questioned whether banks should weigh in on hot-button social issues. The bank leaders testified at a time when…
DETROIT (AP) — Ford is restructuring its vehicle development and supply chain operations, shuffling multiple executives just days after announcing that it would build up to 45,000 vehicles with parts missing due to shortages. The Dearborn, Michigan, automaker gave some executives new roles and said that its chief financial officer will begin reworking supply chain…
BERLIN (AP) — In addition to the human cost of the war, Ukraine’s efforts to defend itself from Russia are placing a severe financial burden on the country that it can only bear with the help of outside support, a top Ukrainian government economist said Thursday. The speed of victory, however, will depend in large…
By Svea Herbst-Bayliss (Reuters) – Ancora Holdings, one of the hedge funds that spearheaded a board shake-up last year at Kohl’s Corp, is now pushing for the removal of the U.S. retailer’s chief executive and board chairman, according to a letter seen by Reuters. The move marks the beginning of a new round of shareholder…
WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week with the Federal Reserve pushing hard to cool the economy and tamp down inflation. Applications for unemployment benefits for the week ending Sept. 17 rose by 5,000 to 213,000, the Labor Department reported Thursday. Last week’s number was revised down…
By Valentina Za MILAN (Reuters) -UniCredit will significantly improve its guidance for the current year when it presents third quarter results after hitting distribution goals on 2021, the Italian bank’s CEO said, expressing confidence also on next year. The upbeat comments delivered by Chief Executive Andrea Orcel at the Bank of America Merrill Lynch conference…
