By Lisa Baertlein and David Shepardson LOS ANGELES (Reuters) -The committee representing U.S. freight railroads in labor talks with their union workers on Wednesday said the settlement recommendations from President Joe Biden’s emergency board represent “the most substantial wage increases in decades,” but that they are ready to reach agreements based on the findings. The…
CAIRO (AP) — Egypt’s central bank governor resigned Wednesday as the Middle East’s most populous nation struggles to curb inflation triggered by Russia’s war in Ukraine, high oil prices and a drop in tourism. President Abdel Fattah el-Sissi accepted the resignation of Tarek Amer and named him a presidential adviser, the Egyptian leader’s office said…
By Chibuike Oguh (Reuters) -Global equities fell while U.S. Treasury yields rose on Wednesday ahead of the release of the Federal Reserve’s meeting minutes that are expected to reveal the extent of officials’ aggressive stance on interest rates and inflation. The July meeting minutes, due to be published later on Wednesday, could signal whether the…
(Reuters) – Air Canada said on Wednesday it plans to operate flights at 79% of its pre-pandemic capacity this summer, amid a shortage of workers and strong demand for air travel. Canada’s largest carrier also said it had recalled employees laid off during the pandemic and would hire additional workers. The company has struggled with…
BERLIN (Reuters) -Norse Atlantic Airways, which seeks to break into the long-haul market between Europe and the United States, has seen strong bookings for the upcoming autumn season, its chief executive said on Wednesday. The Norway-based carrier, which began operations in mid-June, on Aug 5 announced it had filled 86% of transatlantic capacity in July,…
LONDON (AP) — Elon Musk caused a stir by tweeting that he was buying the English soccer team Manchester United — whose current owners are opposed by many fans — then saying several hours later that it was a joke. It comes as the billionaire Tesla CEO faces a legal battle in the U.S. after…
WASHINGTON (AP) — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many Americans to spend more cautiously. Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported Wednesday. Economists had expected a slight increase. Still, Wednesday’s report contained some…
BELGRADE, Serbia (AP) — Wartime rivals Serbia and Kosovo are holding high-level crisis talks on Thursday which the European Union mediators hope will de-escalate growing tensions in the Balkans where Russia has been trying to further increase its influence amid the war in Ukraine. Hopes that the rare face-to-face meeting between Serbian President Aleksandar Vucic…
SAN FRANCISCO (AP) — Social media companies are offering few specifics as they share their plans for safeguarding the U.S. midterm elections. Platforms like Facebook and Twitter are generally staying the course from the 2020 voting season, which was marred by conspiracies and culminated in the Jan. 6 insurrection at the U.S. Capitol. Video app…
NEW YORK (AP) — Target reported solid sales for the fiscal second quarter but its profit plunged nearly 90% after it was forced to slash prices to clear unwanted inventories of clothing, home goods and electronics. In early June, Target warned that it was canceling orders from suppliers and aggressively cutting prices because of a…
