By Andrew Chung (Reuters) -The U.S. Supreme Court on Tuesday blocked a Texas law that bars large social media companies from banning or censoring users based on “viewpoint,” siding with two technology industry groups that have argued that the Republican-backed measure would turn platforms into “havens of the vilest expression imaginable.” The justices, in a…
WASHINGTON (AP) — Focused on relentlessly rising prices, President Joe Biden plotted inflation-fighting strategy Tuesday with the chairman of the Federal Reserve, with the fate of the economy and his own political prospects increasingly dependent on the actions of the government’s central bank. Biden hoped to demonstrate to voters that he was attuned to their…
Batten down the hatches for another nasty hurricane season. Nearly every natural force and a bunch of human-caused ones — more than just climate change — have turned the last several Atlantic hurricane seasons into deadly and expensive whoppers. The season that starts Wednesday looks like another note in a record-breaking refrain because all those…
Last week, the market showed some signs of life. The Dow surged 6.2% to halt a streak of 8 weeks of declines. It was the longest weekly losing streak for the Dow in 90 years. The Dow trailed the S&P and the Nasdaq which rallied +6.6% and +6.8%, respectively. Most of the rally came on…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices turned negative on Tuesday after a report that some producers were exploring the idea of suspending Russia’s participation in the OPEC+ production deal. While there was no formal push for Organization of the Petroleum Exporting Countries to pump more oil to make up for any potential Russian shortfall,…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices pulled back some of their gains on Tuesday after a report that some OPEC members were exploring the idea of suspending Russia’s participation in an oil-production deal. Exempting Russia from OPEC+, which groups the cartel and allies, could potentially pave the way for other producers to pump significantly…
By Jeff Mason and Jarrett Renshaw (Reuters) -U.S. President Joe Biden and Federal Reserve Chair Jerome Powell met on Tuesday to discuss historic inflation that is draining Americans’ pocketbooks. The meeting, the first since Powell’s confirmation for a second term by the Senate earlier this month, comes as Biden seeks to lower costs for gasoline,…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and houses, which could curtail economic growth. The survey from the Conference Board on Tuesday also showed consumers’ perceptions of…
By Laura Sanicola (Reuters) -Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka. World fuel demand has rebounded to pre-pandemic levels, but the combination of pandemic closures, sanctions…
SHANGHAI (AP) — Shanghai authorities say they will take major steps Wednesday toward reopening China’s largest city after a two-month COVID-19 lockdown that has set back the national economy and largely confined millions of people to their homes. Already, a steady stream of people strolled in the Bund, the city’s historic waterfront park, on a…
