By Doina Chiacu and David Shepardson WASHINGTON (Reuters) -Southwest Airlines promised to reimburse passengers for expenses such as hotels and car rentals in addition to refunding tickets after it canceled thousands of flights due to a massive winter storm and said there would be a still-undetermined hit to its earnings. “There’ll certainly be an impact…
CHRISTIANSTED, St. Croix (Reuters) -President Joe Biden on Thursday signed a $1.66 trillion bill funding the U.S. government for fiscal year 2023, the White House said in a statement. Biden signed the bill, which passed Congress last week, while vacationing on the Caribbean island of St. Croix. The legislation includes record military funding, emergency aid…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed sharply higher on Thursday, powered by a rebound in recently battered mega-cap growth stocks, while crude oil prices declined as a surge of COVID cases in China exacerbated fears of global economic downturn. All three major U.S. stock indexes jumped in a broad-based rally on…
By Dietrich Knauth (Reuters) – A group of FTX customers from outside the United States have asked a U.S. bankruptcy judge to keep their names secret during the cryptocurrency exchange’s bankruptcy case, saying that revealing their identities could expose them to identity theft and other scams. Bankrupt companies typically reveal the names and amounts of…
By Doina Chiacu and Ismail Shakil WASHINGTON (Reuters) -Southwest Airlines Co. said it plans to return to normal operations on Friday after days of running at a third of its usual capacity due to disruptions triggered by a massive winter storm that swept much of the United States around the Christmas holiday. The storm forced…
By Dan Burns (Reuters) -The number of Americans filing new claims for unemployment benefits edged higher last week and a week earlier the total number on jobless assistance reached the highest since February, but both remain at levels indicating the U.S. job market remains tight, even as the Federal Reserve works to cool demand for…
WASHINGTON (Reuters) – Employee unions say they warned Southwest Airlines Co. management for years that its technological systems badly needed upgrades, as the low-cost carrier canceled thousands of flights during the busy holiday travel crunch. A massive winter storm that swept over the United States before the Christmas holiday weekend forced U.S. airlines to cancel…
By Chibuike Oguh NEW YORK (Reuters) – Private equity firm BC Partners said on Thursday it has agreed to acquire a majority stake in Madison Logic, a provider of business-to-business digital marketing services. Terms of the deal were not disclosed, but a person familiar with the matter told Reuters the transaction valued Madison Logic at…
MILAN (Reuters) – Italy will work to exit the capital of bailed-out lender Monte dei Paschi di Siena with a view to creating a banking landscape with several large groups, Prime Minister Giorgia Meloni said on Thursday. Meloni said Monte dei Paschi had been “very badly handled” by previous governments leading to taxpayers spending billions…
(Reuters) – The number of Americans filing new claims for unemployment benefits edged higher last week but remain in a range indicating the U.S. job market remains tight, even as the Federal Reserve works to cool demand for labor as part of its bid to lower inflation. Initial claims for state unemployment benefits rose 9,000…
