By Stella Qiu SYDNEY (Reuters) – Australia’s central bank on Tuesday raised interest rates to a 10-year high and stuck with its projection that more hikes are needed, a stance taken as slightly hawkish by markets that were looking for signs of a pause in the near term. Wrapping up its last policy meeting this…
SYDNEY (Reuters) – Australia’s central bank raised its cash rate 25 basis points to a 10-year high of 3.10% on Tuesday and reiterated that further policy tightening will be needed ahead, although policy was not on a pre-set path. Wrapping up its December policy meeting, the Reserve Bank of Australia (RBA) said the size and…
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) – Philippine annual inflation surged to a 14-year high in November driven mainly by higher food prices, the statistics agency said on Tuesday, with the pickup in prices seen supporting the case for a half-percentage point interest rate hike this month. The consumer price index…
By Rachael Levy (Reuters) – Elon Musk’s Neuralink, a medical device company, is under federal investigation for potential animal-welfare violations amid internal staff complaints that its animal testing is being rushed, causing needless suffering and deaths, according to documents reviewed by Reuters and sources familiar with the investigation and company operations. Neuralink Corp is developing…
SACRAMENTO, Calif. (AP) — California could become the first state to fine big oil companies for making too much money, a reaction to the industry’s supersized profits following a summer of record-high gas prices in the nation’s most populous state. Gov. Gavin Newsom and his Democratic allies in the state Legislature introduced the proposal Monday…
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Monday said a new racial equity advisory committee, which has drawn the ire of Republican lawmakers, would play a big role in helping the department address acute economic disparities faced by communities of color. Yellen told the inaugural meeting of the 25 members…
By Ross Kerber (Reuters) – Investors have proposed shareholder resolutions at two U.S. railroads calling for paid sick leave for workers, an issue that nearly caused a national rail strike, and they could go to an advisory vote at shareholder meetings in the spring. On Friday President Joe Biden signed legislation to block a rail…
WASHINGTON (Reuters) – A U.S. agency that probes allegations of deceptive conduct confirmed on Monday that it had investigations open into several cryptocurrency firms for “possible misconduct.” The Federal Trade Commission spokesperson declined to name the firms or say precisely what actions prompted the investigations. “While we can’t comment on current events in the crypto…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Wall Street slumped on Monday, battered by the old ‘good news is bad news’ adage following unexpectedly strong U.S. service sector activity figures, which should set a negative tone for Asian markets on Tuesday. But could Asia be…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell over 3% on Monday, following U.S. stock markets lower, after U.S. service sector data raised worries that the Federal Reserve could continue its aggressive policy tightening path. Brent crude futures settled down $2.89, or 3.4%%, at $82.68 a barrel. West Texas Intermediate crude (WTI) fell $3.05,…
