(Reuters) – Citigroup Inc on Friday said it has slightly trimmed its mortgage workforce, due to an internal streamlining of functions. Less than 100 positions were affected, according to Bloomberg News, which first reported the layoffs. “We are doing our best to support each individual by helping them to find new employment opportunities within Citi…
WASHINGTON (Reuters) – The Biden administration said on Friday it will keep tariffs on hundreds of billions of dollars worth of Chinese imports in place while it continues a statutory review of the duties imposed by former President Donald Trump. The U.S. Trade Representative’s office said in a federal notice that it received requests from…
By Echo Wang and Manya Saini (Reuters) -Yogurt maker Chobani is withdrawing its plans for an initial public offering in the United States after having delayed its listing plans earlier this year, marking the first high-profile casualty of the current slowdown in stock market flotations. Chobani cited “current market conditions” in its decision to scrap…
By Richa Naidu LONDON (Reuters) -Laxman Narasimhan may have no experience of running coffee shops, but the outgoing CEO of British packaged goods group Reckitt will bring insight into the changing habits of consumers when he takes over at Starbucks. At Reckitt, maker of Strepsils throat lozenges and Dettol floor cleaner, the 55-year-old Narasimhan spearheaded…
By Lewis Krauskopf NEW YORK (Reuters) – Fresh volatility in U.S. stocks is pushing some investors to hunker down in areas of the market that have been relatively strong during a brutal year for equities, including energy shares, defensive names and dividend-payers. The S&P 500 is down 9% since mid-August, partially reversing a summer rebound…
BERLIN (AP) — Europe’s energy crisis loomed larger Friday after Russian energy giant Gazprom said it couldn’t resume the supply of natural gas through a major pipeline to Germany for now. The company cited what it said was a need for urgent maintenance work to repair key components — in an announcement made just hours…
WASHINGTON (AP) — The nation’s job market last month delivered what the Federal Reserve and nervous investors had been hoping for: A Goldilocks-style hiring report. Job growth was solid — not too hot, not too cold. And more Americans began looking for work, which could ease worker shortages over time and defuse some of the…
By Christoph Steitz and Caleb Davis FRANKFURT/LONDON (Reuters) – Russia has scrapped a Saturday deadline to resume flows via a major gas supply route to Europe after saying it had discovered a fault in the Nord Stream 1 pipeline during maintenance, deepening Europe’s difficulties in securing fuel for winter. Nord Stream 1, which runs under…
(Reuters) – Bayer AG and some of its subsidiaries agreed to pay $40 million to settle claims over its alleged use of kickbacks and false statements related to the drugs Trasylol, Avelox and Baycol, the U.S. Department of Justice said on Friday. The settlement arose from two whistleblower lawsuits filed by Laurie Simpson, a former…
By Alexander Marrow MOSCOW (Reuters) -Russia’s benchmark MOEX stock index climbed to its highest in more than three months on Friday, as investors bet on other companies following Gazprom’s lead in recommending dividends, while the weakened towards 61 against the dollar and euro. Gas giant Gazprom’s board this week recommended the payment of 51.03 roubles…
