By Sruthi Shankar and Ankika Biswas (Reuters) – U.S. stocks struggled for direction on Thursday as investors digested hawkish remarks from Federal Reserve Chair Jerome Powell and other policymakers that cemented bets of a large interest rate hike later this month. Powell said the central bank is “strongly committed” to bringing inflation down and needs…
(Reuters) – Airbus on Thursday confirmed it had revoked all remaining A350 orders from Qatar Airways, raising the stakes in a safety and contractual dispute with the Gulf carrier. “Airbus confirms that it has removed 19 Qatar Airways A350s from the backlog,” a spokesperson said. Qatar Airways had no immediate comment. The rare order cancellation,…
LOS ANGELES (AP) — Years of soaring home prices and sharply higher mortgage rates remain hurdles for many would-be homebuyers, but new data shows that they’re regaining some leverage at the negotiating table as the housing market slows. An analysis of home sales data by Redfin shows that, on average, U.S. homes purchased during a…
FRANKFURT (Reuters) – Tesla will launch an open-door event on Sunday for its workers to inform local residents about the progress and environmental footprint at its German gigafactory in Gruenheide, according to the municipality’s official website. At the town hall event, to run from 1000-1700 CET, residents will be able to talk to Tesla employees…
By Andreas Rinke and Sarah Marsh BERLIN (Reuters) – Germany’s economy ministry is considering a raft of measures to make business with China less attractive as it seeks to reduce its dependency on Asia’s economic superpower, two people familiar with the matter told Reuters. The measures could include reducing or even scrapping investment and export…
WASHINGTON (AP) — The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment. On Thursday, Chair Jerome Powell suggested that this time, the Fed won’t have…
By David Shepardson WASHINGTON (Reuters) – The U.S. Senate Homeland Security and Governmental Affairs Committee will hold a hearing Wednesday with Facebook parent Meta Platforms, Alphabet’s YouTube, Twitter and short video app TikTok on social media’s impact on homeland security. The panel led by Democratic Senator Gary Peters will also hear from a panel of…
WARREN, Mich. (AP) — Even though battery costs are rising, auto companies are rolling out more affordable electric vehicles that should widen their appeal to a larger group of buyers. The latest came Thursday from General Motors, a Chevrolet Equinox small SUV with a starting price somewhere around $30,000 and a range-per-charge of 250 miles…
(Reuters) – The euro and government bond yields were broadly steady on Thursday after the European Central Bank hiked its key policy rate by 75 basis points as expected. Germany’s 10-year bond yield briefly rose after the hike but was last at 1.58%, unchanged from prior to the decision. The two-year yield, sensitive to interest…
BERLIN (AP) — Europe smashed previous temperature records this summer, with long periods of sunshine causing sweltering conditions and droughts across much of the continent but also helping boost much-needed solar power, according to data published Thursday. The European Commission said average temperatures from June to August were 0.4 degrees Celsius (0.7 degrees Fahrenheit) higher…