WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday said it was worth considering taking steps to lower U.S. tariffs on Chinese goods given the “desirable effects” such a move could have on lowering U.S. inflation. “We want to do everything that we can to lower inflation,” Yellen told Bloomberg TV, citing steps by…
By Bansari Mayur Kamdar and Anisha Sircar (Reuters) – U.S. stocks tumbled on Friday after some weak earnings reports, with growth stocks coming under pressure in a torrid week that saw bond yields surge on expectations of interest rate hikes. All the 11 major S&P 500 sectors fell, with healthcare stocks dropping the most after…
By Rithika Krishna and Liz Hampton (Reuters) – Top oilfield services firm Schlumberger reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment. Oil prices climbed to their highest in more than a decade during the quarter as Russia’s invasion of Ukraine…
LONDON (AP) — Taking aim at hate speech, disinformation and other harmful content online, the European Union is nearing agreement on a sweeping law that would force big tech companies to police themselves harder, make it easier for users to flag problems, and empower regulators to punish noncompliance with billions in fines. EU officials negotiated…
BERLIN (Reuters) -The German government will cut its growth forecast for Europe’s biggest economy for 2022 to 2.2% from 3.6% amid the war in Ukraine, a government source told Reuters on Friday. It expects growth to pick up slightly to 2.5% in 2023, the source said. After two years of the coronavirus pandemic, the Germany…
WARSAW, Poland (AP) — New blasts at a Polish coal mine injured 10 rescue workers and forced authorities on Friday to suspend the search for seven coal miners and rescuers still missing after deadly methane explosions earlier this week, officials said. The initial explosion took place shortly after midnight early Wednesday and was followed by…
NEW YORK (AP) — American Express’ first-quarter profits fell roughly 6% from a year earlier, but the company saw a 30% jump in spending on its namesake cards in the quarter as its cardmembers returned to their habits of shopping, traveling and dining. The New York-based company posted a profit of $2.1 billion, or $2.73…
By Fransiska Nangoy JAKARTA (Reuters) – Indonesia will effectively ban palm oil exports from April 28, until further notice, after President Joko Widodo on Friday announced a halting of shipments of cooking oil and its raw material to control soaring domestic prices. In a video broadcast, Jokowi, as the president is popularly known, said the…
By Marwa Rashad LONDON (Reuters) – Asian spot liquefied natural gas (LNG) prices were down this week on softer Spring demand but further downside is limited as Asian buyers are expected to start to return to the market. The average LNG price for June delivery into north-east Asia was estimated at $25.40 per metric million…
By Fransiska Nangoy JAKARTA (Reuters) – Indonesia will effectively ban palm oil exports from April 28, until further notice, after President Joko Widodo announced on Friday a halting of shipments of cooking oil and its raw material to control soaring domestic prices. A previous move by Indonesia to restrict palm oil exports, introduced in late…
