By Stephen Culp NEW YORK (Reuters) – Wall Street closed higher Wednesday, boosted after minutes from the Federal Reserve’s latest monetary policy meeting showed policymakers unanimously felt the U.S. economy was very strong as they grappled with reining in inflation without triggering a recession. The minutes from the Federal Open Market Committee’s May meeting, which…
(Reuters) – Creating an official digital version of the U.S. dollar could help ensure financial system stability as crypo-assets and digital currencies developed by other countries become increasingly popular, Federal Reserve Vice Chair Lael Brainard said on Wednesday. “The rapid ongoing evolution of the digital financial system at the national and international levels should lead…
BOSTON (Reuters) – Index fund BlackRock and other major McDonald’s shareholders are backing the company in a boardroom vote that puts the fast-food chain on course to defeat investor Carl Icahn who sought to replace two directors and raise awareness about animal welfare, sources said on Wednesday. BlackRock, whose 4.6% stake ranks it as McDonald’s…
(Reuters) – Elon Musk has committed to provide an additional $6.25 billion in equity financing to fund a portion of the $44-billion deal to buy Twitter Inc, a regulatory filing showed on Wednesday. Twitter shares jumped 10% in extended trading. (Reporting by Eva Mathews in Bengaluru)
WASHINGTON (Reuters) -World Bank President David Malpass on Wednesday suggested that Russia’s war in Ukraine and its impact on food and energy prices, as well as the availability of fertilizer, could trigger a global recession. Malpass told an event hosted by the U.S. Chamber of Commerce that Germany’s economy, the world’s fourth largest, has already…
By David Gaffen New York (Reuters) – Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July settled up 47 cents to $114.03 a barrel, while U.S. West Texas Intermediate (WTI) crude for July…
WASHINGTON (AP) — Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high. At the same time, many of the policymakers also agreed that after a…
By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) – Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group (ERG) Chief Executive Benedikt Sobokta said on Wednesday. Combined with COVID-related logistical issues and demand for transparency on…
By Sheila Dang (Reuters) -Twitter Inc investors voted against re-electing an ally of Elon Musk to the board at an annual meeting on Wednesday that avoided the biggest question for the social media company: will it complete a $44 billion sale to the billionaire. Investors voted against Egon Durban, the co-head of private equity firm…
JUNEAU, Alaska (AP) — The U.S. Environmental Protection Agency on Wednesday proposed restrictions that would block plans for a copper and gold mine in Alaska’s Bristol Bay region, the latest in a long-running dispute over efforts by developers to advance the mine in a region known for its salmon runs. Critics of the Pebble Mine…
