Amazon is taking a step to offset its rising costs, announcing Wednesday it will add a 5% “fuel and inflation surcharge” to fees it charges third-party sellers who use the e-commerce giant’s fulfillment services. The Seattle-based company said on its website that the added fees, which take effect April 28, are “subject to change” and…
(Reuters) – TD Bank Group will offer eligible employees a 3% increase to their base pay or a one-time cash reward effective July 1, Chief Executive Officer Bharat Masrani said in an internal memo on Wednesday. The move comes as the latest in a series of salary hikes by top banks, as they rush to…
(Reuters) – Rent the Runway on Wednesday reported a 91% jump in fourth-quarter revenue, beating Wall Street estimates. The company reported revenue of $64.1 million, above estimates of $63.22 million, according to IBES data from Refinitiv. (Reporting by Akash Sriram in Bengaluru; Editing by Maju Samuel)
(Reuters) – Federal Reserve Governor Christopher Waller on Wednesday said he believes inflation has “pretty much” peaked, but the U.S. central bank still needs to raise rates aggressively, including in half-point increments in May and possibly in June and July. The Fed needs to get rates to neutral as soon as possible, and above neutral…
(Reuters) -The U.S. Federal Reserve must put the brakes on economic activity to tackle surging prices, James Bullard, president of the St. Louis Fed, told the Financial Times in an interview https://on.ft.com/3uBKcZZ. It is a “fantasy” to think the Fed can tame the fastest U.S. inflation in four decades without aggressively raising interest rates, he…
By Stephen Culp NEW YORK (Reuters) – Wall Street headed higher on Wednesday, powered by a rebound in market-leading growth stocks as investors digested hot inflation data and a mixed bag of quarterly earnings. The tech-heavy Nasdaq led all three major U.S. stock indexes higher, with semiconductors handily outperforming the broader market. JPMorgan Chase &…
(Reuters) – Amazon.com Inc on Wednesday said it will charge merchants an average 5% fuel and inflation surcharge to warehouse and ship their products to shoppers in the United States, in response to rising costs. The change amounts to an extra 24 cents per product stored and shipped through the company’s Fulfillment by Amazon service,…
By Giulio Piovaccari and Gilles Guillaume (Reuters) -Stellantis Chief Executive Carlos Tavares on Wednesday took a bullish stance on the U.S. market despite rising fears of a downturn, as the carmaker’s shareholders voted against the 2021 compensation package for top executives. Speaking at the carmaker’s annual shareholders’ meeting, Tavares said Stellantis was confirming its forecast…
By Aditya Kalra NEW DELHI (Reuters) – Meta Platforms Inc’s WhatsApp has won regulatory approval to more double the number of users of its payments service in India to 100 million, two sources familiar with the matter told Reuters on Wednesday. WhatsApp has over the years told National Payments Corporation of India (NPCI) that there…
By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines Inc on Wednesday forecast returning to profit in the current quarter, after posting a smaller-than-expected quarterly loss, on the back of a booming travel demand, sending its shares higher. The company said robust consumer demand not only translated into a “solid” profit in March, but is…
