SAN JOSE, Calif. (AP) — Although she wasn’t in the courtroom, Theranos CEO Elizabeth Holmes loomed over the opening day of a trial that will determine whether her jilted lover and former business partner Ramesh “Sunny” Balwani was also her partner in crime. In opening statements Tuesday, a federal prosecutor depicted Balwani as an instrumental…
By Lindsay Dunsmuir and Ann Saphir (Reuters) -Federal Reserve officials are helping shape market expectations for sharper interest-rate hikes to curb the surge in inflation, but have not managed to dispel fears the tightening cycle could blow a hole in the economy and labor market. “The Fed needs to move aggressively to keep inflation under…
By Hilary Russ NEW YORK (Reuters) – Starbucks workers in a cafe in Seattle, the coffee chain’s hometown, voted 9 to 0 in favor of joining a labor union, according to a tally of ballots on Tuesday. The results mark the seventh Starbucks-owned cafe in the United States to join the union, following five in…
WASHINGTON (Reuters) – The U.S. Travel Association on Tuesday urged the White House to lift COVID-19 travel restrictions and repeal a mandate requiring masks on airplanes and in other transit modes by April 18, according to a letter seen by Reuters. In a letter to Dr. Ashish Jha, the incoming White House COVID response coordinator,…
By Andrea Shalal and David Lawder BALTIMORE/WASHINGTON (Reuters) – The United States and Britain are expected to announce an end to a long-running steel trade dispute on Tuesday, granting a UK duty-free import quota of over 500,000 tonnes of British-made steel annually, people familiar with the deal said. The pact, to be announced by U.S….
By Andy Bruce LONDON (Reuters) – British government bond issuance will fall closer towards pre-pandemic norms in the coming financial year, when the market’s biggest buyer over the last decade – the Bank of England – will move to the sidelines, according to a Reuters poll of primary dealers. The Debt Management Office’s 2022/23 gilt…
By Geert De Clercq and Shadia Nasralla PARIS/LONDON (Reuters) -French oil major TotalEnergies said on Tuesday it would not renew its Russian gasoil and crude oil supply contracts for its German refinery, but would source gasoil from Saudi Arabia and crude via Poland instead. The firm, with stakes in several Russian projects, has come under…
By Ann Saphir (Reuters) – San Francisco Federal Reserve Bank President Mary Daly said Tuesday she believes the “main risk” to the economy is from too-high inflation that could get worse as Russia’s invasion of Ukraine boosts oil prices and China’s crackdown on COVID-19 further disrupt supply chains. “It’s time to remove accommodation,” Daly said…
By Lawrence Delevingne BOSTON (Reuters) – U.S. stocks regained ground on Tuesday, while Treasury yields and Brent crude oil prices continued to climb, as investors adjusted their expectations for interest rate hikes following hawkish comments from the U.S. Federal Reserve. The Nasdaq led Wall Street’s main indexes higher, rising around 1.75%, as investors bought the…
LAUSANNE (Reuters) – Executives from the world’s largest trading houses and mining companies are at the FT Commodities Global Summit this week, discussing market trends, cyber security and the impact of Russia’s Ukraine invasion. MARCO DUNAND, CEO OF MERCURIA”How do you price forward natural gas if you don’t have a view about how things are…
