By David Randall NEW YORK (Reuters) -A week of heavy selling has rocked U.S. stocks and bonds, and many investors are bracing for more pain ahead. Wall Street banks are adjusting their forecasts to account for a Federal Reserve that shows no evidence of letting up, signaling more tightening ahead to fight inflation after another…
By Herbert Lash, Amanda Cooper and Tommy Wilkes NEW YORK/LONDON (Reuters) – U.S. and European stocks tumbled on Friday, the dollar scaled a 22-year high and bonds sold off again as fears grew that a central bank prescription of raising interest rates to tame inflation will drag major economies into recession. The Dow narrowly missed…
SAN DIEGO (AP) — A fugitive defense contractor nicknamed “Fat Leonard” who claims to have incriminating sex photos of U.S. Navy brass could become the latest bargaining chip in Venezuelan President Nicolas Maduro’s efforts to win official recognition from the Biden administration, according to experts. But it’s unclear how hard the U.S. government will fight…
(Reuters) – Some investors are backing out of Digital World Acquisition Corp’s plan to acquire former U.S. President Donald Trump’s social media firm Truth Social, the blank-check firm said on Friday. Digital World said it had received termination notices from private investment in public equity (PIPE) investors ending nearly $139 million in investments out of…
(Reuters) – Reuters is withdrawing a Sept. 8 article that compared carbon emissions from U.S. ethanol plants and oil refineries because of its flawed interpretation of data on ethanol-plant pollution and fuel-production capacity. That led to inaccurate estimates of carbon emissions for individual ethanol plants named in the story. STORY_NUMBER: L8N30E5AE STORY_DATE: 08/09/2022 STORY_TIME: 1000…
By Steve Scherer OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau and South Korean President Yoon Suk-yeol on Friday agreed to deepen cooperation on critical minerals used in electric vehicles (EVs) batteries as both countries seek to cut emissions to fight climate change. Yoon visited London for the funeral of Queen Elizabeth, and then New…
WASHINGTON (AP) — World Bank President David Malpass said Friday he won’t resign after coming under criticism for his remarks earlier this week regarding climate change. At an event sponsored by The New York Times on Tuesday, Malpass wouldn’t answer directly when asked whether the burning of fossil fuels has contributed to global warming. Instead,…
By David French (Reuters) – Wall Street’s main indexes slumped to close well down on Friday, as rattled investors continued repositioning themselves to reflect fears the U.S. Federal Reserve’s hawkish rate policy to curb inflation will push the American economy into recession. The Dow narrowly avoided ending more than 20% lower than its Jan. 4…
By Joseph White and David Shepardson TOLEDO, Ohio/WASHINGTON (Reuters) – The United Auto Workers will seek a speedier recognition from GM that does not require a vote to represent hourly workers in the automaker’s growing stable of U.S. joint-venture battery plants, the union said on Friday. UAW President Ray Curry, speaking at an event in…
TOLEDO, Ohio (AP) — General Motors says it will spend $760 million to renovate its transmission factory in Toledo, Ohio, so it can build drive lines for electric vehicles. It’s the first GM engine or transmission plant to begin the long transition from internal combustion engines to electric vehicles. The company has a goal of…