By Can Sezer and Orhan Coskun ISTANBUL (Reuters) – President Tayyip Erdogan’s wager that Turkey could ride out an inflation and currency shock with low rates and reserves has all but collapsed, after the fallout from the war in Ukraine left the economy uniquely vulnerable to soaring energy prices. Turkey’s gas import bill alone is…
(Reuters) – U.S. Senator Joe Manchin wants his fellow Democrats on the Senate Banking committee to move ahead with four of President Joe Biden’s five nominees to the Federal Reserve, dropping the fifth nominee, Sarah Bloom Raskin, Politico reported on Thursday. Republicans last month blocked a vote on the full Fed slate over objections to…
(Reuters) – AIA Group Ltd on Friday launched a $10 billion share buyback plan and declared a higher final dividend as new business value jumped 22% in 2021, boosted by strong growth across markets, especially in China and Hong Kong. The insurer’s value of new business or VONB, which measures expected profit from new premiums…
(Reuters) – Oracle Corp missed market expectations for third-quarter profit as the legacy software firm spent heavily to build data centers and ramp up cloud growth while also facing losses from some investments, sending its shares down 6% in extended trading. The company’s losses from investments included those from a decline in the share price…
By Roberto Samora SAO PAULO (Reuters) – Six South American nations are proposing the exclusion of fertilizer from sanctions on Russia, a major world producer whose invasion of Ukraine has disrupted supplies, Brazil’s Agriculture Minister Tereza Cristina Dias said on Thursday. She said Brazil has secured the support of Argentina, Bolivia, Chile, Paraguay and Uruguay…
WASHINGTON (Reuters) – The Internal Revenue Service plans to launch job fairs and other efforts to hire 10,000 new employees over the next several months to help clear millions of unprocessed tax returns, the Treasury Department said on Thursday. The IRS also will create a new 700-person “surge team” to process new returns at its…
By Shariq Khan BENGALURU (Reuters) – Oil prices settled lower on Thursday after a volatile session, a day after its biggest daily dive in two years, as Russia pledged to fulfil contractual obligations and some traders said supply disruption concerns were overdone. Since Russia’s Feb. 24 invasion of Ukraine, oil markets have been the most…
By David Shepardson WASHINGTON (Reuters) – United Airlines said Thursday it will allow unvaccinated employees to return to their jobs starting March 28 and asked a federal appeals court to dismiss a legal challenge to the COVID-19 mandate as moot. The Chicago-based U.S. carrier said in a memo about 2,200 employees had received vaccine-related reasonable…
By Tom Hals and Dietrich Knauth (Reuters) – Victims of America’s opioid epidemic confronted members of the Sackler family that owns Purdue Pharma on Thursday with wrenching stories of suffering they said was caused by the painkillers that built the company fortune. “You got rich off our dead bodies and told us it was our…
By Stephen Culp NEW YORK (Reuters) – Wall Street slid on Thursday as inflation data hit a four-decade high, all but assuring the U.S. Federal Reserve would hike key interest rates at the conclusion of next week’s monetary policy meeting to prevent the economy from overheating. Simmering uncertainties surrounding Russia’s invasion of Ukraine also helped…
