By Rae Wee SINGAPORE (Reuters) – The dollar eased from multi-year highs on Friday after a strong rally earlier in the week, though expectations that the Federal Reserve would need to hike more to keep inflation in check sent Treasury yields higher and kept the greenback in demand. The towering dollar pushed the offshore yuan…
By Jonathan Stempel NEW YORK (Reuters) – A group of medical professionals that advocates against “radical, divisive, and discriminatory ideology” in healthcare sued Pfizer Inc on Thursday, saying the drugmaker runs a fellowship that illegally excludes white and Asian-American applicants. In a complaint filed in Manhattan federal court, the plaintiff Do No Harm called Pfizer’s…
By Stephen Culp NEW YORK (Reuters) – Wall Street ended sharply lower on Thursday, extending its losses in late afternoon trading as a raft of economic data failed to alter the expected course of aggressive tightening by the Federal Reserve amid growing warnings of global recession. The sell-off gathered momentum toward the end of the…
WASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 6.02% from 5.89% last week. The long-term average…
Boeing officials said Thursday they will find new buyers for some Boeing 737 Max jets that were built for Chinese airlines but can’t be delivered because China’s aviation regulator has not cleared the plane to fly after two deadly crashes. Boeing hopes the move will reduce its inventory of undelivered Max jets, which built up…
By Sinéad Carew NEW YORK (Reuters) – Wall Street indexes were firmly in the red after a choppy start to Thursday’s session while bond yields rose as investors digested economic data that provided the Federal Reserve little reason to ease its aggressive interest rate hiking cycle. Oil futures tumbled more than 3% on demand concerns…
By Tom Hals WILMINGTON, Del. (Reuters) – Billionaire Elon Musk accused Twitter Inc of fraud by concealing serious flaws in the social media company’s data security, which the entrepreneur said should allow him to end his $44 billion deal for the company, according to a Thursday court filing. Musk, the world’s richest person, amended his…
OMAHA, Neb. (AP) — CSX has hired an auto industry executive to lead the railroad after its current CEO retires. Jacksonville, Florida-based CSX Corp. said Thursday that Joe Hinrichs will take over from Jim Foote at the end of this month. Hinrichs previously served as president of Ford Motor Co.’s global auto business. Hinrichs said…
NEW ORLEANS (AP) — A Louisiana judge has thrown out air quality permits for a Taiwanese company’s planned $9.4 billion plastics complex between New Orleans and Baton Rouge, a rare win for environmentalists in a heavily industrialized stretch of the Mississippi River often referred to as “Cancer Alley.” The Louisiana Department of Environmental Quality brushed…
By Lisa Baertlein LOS ANGELES (Reuters) – U.S. freight railways and unions representing 115,000 workers may have reached a deal to avert a damaging shutdown that could have battered the U.S. economy, but the industry isn’t clear of that danger yet. Leaders of the 12 unions involved in the talks must now sell agreements to…
