By Rachel More BERLIN (Reuters) -Germany’s top four carmakers and parts supplier Bosch knowingly broke rules when developing a type of emissions software, an environmentalist group said on Thursday, in a years-long legal battle that could open the door for a new wave of lawsuits. Audi, Volkswagen, Daimler – now Mercedes-Benz – and BMW commissioned…
By Ankika Biswas and Amruta Khandekar (Reuters) – U.S. stock indexes fell on Thursday as mixed economic data and hawkish comments from a Federal Reserve official fueled concerns that the central bank may not ease its aggressive policy tightening. St. Louis Federal Reserve President James Bullard said rate hikes so far “have had only limited…
LONDON (AP) — The British government on Thursday unveiled an emergency budget featuring billions in tax increases in a bid to restore trust and stability in the U.K. economy and help millions struggling to cope with a deepening cost-of-living crisis. Treasury chief Jeremy Hunt said state pensions and welfare will rise to match inflation and…
By Alex Lawler LONDON (Reuters) -Oil extended declines on Thursday as geopolitical tensions eased slightly and rising numbers of COVID-19 cases in China added to worries over demand in the world’s largest crude importer. Poland and NATO on Wednesday said a missile that crashed inside NATO member Poland was probably a stray fired by Ukraine’s…
The Federal Reserve may have to raise its benchmark interest rate much higher than it has previously projected to get inflation under control, James Bullard, president of the Federal Reserve Bank of St. Louis, said Thursday. Bullard’s comments raised the prospect that the Fed’s rate hikes will make borrowing by consumers and businesses even costlier…
NEW YORK (AP) — The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control. The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning description of FTX’s operations…
(Reuters) -Roku Inc said on Thursday it would cut 200 jobs in the United States, becoming the latest tech company to lay off workers amid an economic slowdown and decades-high inflation. Tech companies including Meta Platforms Inc and Snap Inc have reduced staff this year as they grapple with a slowdown in growth and mounting…
ANKARA, Turkey (AP) — A wartime agreement that unblocked grain shipments from Ukraine and helped temper rising global food prices will be extended by four months, the United Nations and other parties to the deal said Thursday, preventing a price shock to some of the world’s most vulnerable countries where many are struggling with hunger….
WASHINGTON (AP) — The U.S. job market remains healthy as fewer Americans applied for unemployment benefits last week, despite the Federal Reserve’s rapid interest rate hikes this year intended to bring down inflation and tighten the labor market. Applications for jobless claims for the week ending Nov. 12 fell by 4,000 to 222,000 from 226,000…
(Reuters) – U.S. upscale department store chain Macy’s Inc raised its annual profit forecast on Thursday on resilient demand for high-end suits, gowns and beauty products as wealthier shoppers were undeterred by inflation. Luxury goods sales have held up relatively well for Macy’s as higher-income shoppers, eager to get back to social events after the…
