By Pete Schroeder WASHINGTON (Reuters) -The chief executives of JPMorgan, Bank of America, Citigroup, Wells Fargo and other major U.S. banks are facing a grilling by both Democratic and Republican lawmakers on Wednesday on the economy, consumer protections and the lenders’ stance on fossil fuel lending and firearms, among other issues. In testimony before the…
NEW YORK (AP) — Walmart is taking a cautious approach to the holiday shopping season, announcing it will hire 40,000 U.S. workers for the holidays, a majority of them seasonal workers. The move, announced Wednesday, comes as the nation’s largest retailer and largest private employer said it’s in a stronger staffing position heading into the…
(Reuters) – Wall Street’s main indexes opened higher on Wednesday ahead of a widely expected hefty rate hike from the U.S. Federal Reserve, with investors awaiting cues on the length and depth of further policy tightening to tame surging price pressures. The Dow Jones Industrial Average rose 113.2 points, or 0.37%, at the open to…
By Ann Saphir and Howard Schneider WASHINGTON (Reuters) – How much faith Federal Reserve officials still have in prospects for a “soft landing” as they take aggressive action to quash the highest inflation in 40 years will be revealed on Wednesday when the central bank releases fresh policymaker forecasts. The projections from the 19 policymakers,…
BRUSSELS (AP) — Thousands of people gathered on Wednesday in the Belgian capital Brussels for “a national day of action” to protest against skyrocketing electricity, natural gas and food prices and draw attention to the sharp hike in the cost of living. Trade unions and city police said that around 10,000 took part. People from…
(Reuters) -Cheerios cereal maker General Mills Inc raised its full-year forecast after beating quarterly profit estimates on Wednesday, banking on higher prices and resilient demand for its breakfast cereals, snack bars and pet food. Packaged food makers have been steadily raising prices on everything from cereals to beef jerky as they look to insulate their…
CAGUAS, Puerto Rico (AP) — More than a half million people in Puerto Rico remained without water service three days after Hurricane Fiona slammed into the U.S. territory, and many spent hours in lines Wednesday to fill jugs from water trucks while others scooped water from mountain runoff. Sweat rolled down the faces of people…
By Kirsti Knolle and Anne Kauranen BERLIN/HELSINKI (Reuters) -Germany confirmed struggling gas importer Uniper’s nationalisation on Wednesday, adding another 8 billion euros ($7.9 billion) to its rescue as Berlin scrambles to secure power for Europe’s largest economy after Russian supply cuts. Nationalising Germany’s largest importer of Russian gas is the second move in a week…
THE HAGUE, Netherlands (AP) — The United States on Wednesday urged the International Court of Justice to throw out a case brought by Iran seeking to claw back around $2 billion worth of frozen Iranian assets that the U.S. Supreme Court awarded to victims of a 1983 bombing in Lebanon and other attacks linked to…
WASHINGTON (AP) — The CEOs of the nation’s biggest banks appeared in front of Congress Wednesday and gave a dim view of the U.S. economy, reflecting the financial and economic distress many Americans are facing. JPMorgan Chase’s Jamie Dimon, Citigroup’s Jane Fraser and other chief executives said the U.S. consumer is in good shape but…
