WASHINGTON (AP) — For nearly nine months, the Federal Reserve has relentlessly raised interest rates to try to slow the U.S. job market and bring inflation under control. And for just as long, the job market hasn’t seemed to get the message. The November employment report the government issued Friday was no exception. Employers added…
(Reuters) – Canadian Imperial Bank of Commerce (CIBC) said on Friday it would appeal a New York court’s ruling in a lawsuit brought against the bank by an entity of U.S. private equity firm Cerberus Capital Management. Cerberus had alleged that CIBC defaulted on certain payments and is seeking damages of $1.067 billion. CIBC said…
WASHINGTON (Reuters) -The White House on Friday welcomed news that the European Union was “coming together” on a $60 per barrel price cap on Russian seaborne oil, and said it remained convinced that the deal should help limit Russian revenues. Poland on Friday said it had agreed to the European Union’s deal for a $60…
WASHINGTON (AP) — The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. Europe…
(Reuters) – United Airlines Inc is close to reaching a deal to order dozens of Boeing’s 787 Dreamliner jets, the Wall Street Journal reported on Friday, citing people familiar with the matter. An agreement between United and Boeing could be completed as soon as this month, the report said. United said the company doesn’t comment…
By Chibuike Oguh and Herbert Lash NEW YORK (Reuters) -Blackstone Inc limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday after a surge in redemption requests, an unprecedented blow to a franchise that helped it turn into an asset management behemoth. The curbs came because redemptions hit pre-set limits, rather…
By Howard Schneider WASHINGTON (Reuters) -New U.S. Federal Reserve projections, issued later this month alongside an expected half-point interest rate increase, could show the central bank’s target rate headed toward levels last seen on the eve of the 2007 financial crisis, and will also reveal policymakers’ best guess of the fallout that will have for…
(Fixes name of shareholder in paragraph 10) By Rod Nickel WINNIPEG, Manitoba (Reuters) -As TC Energy Corp prepares to unload C$5 billion ($3.7 billion) in assets next year, investors and analysts say the North American pipeline operator has plenty of options without touching its core gas business. Chief Executive Francois Poirier cleared up any ambiguities…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. employers hired more workers than expected in November and raised wages despite mounting worries of a recession, which could complicate the Federal Reserve’s intention to start slowing the pace of its interest rate hikes this month. Nonfarm payrolls increased by 263,000 jobs last month, the Labor Department said…
WASHINGTON (AP) — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday….
