(Corrects to show Bayer and Novartis have pledged donations, not profits, in paragraph 17) By Richa Naidu and Jessica DiNapoli (Reuters) -Western companies that maintain a presence in Russia to provide essential goods such as food and medicines are trying to strike a balance between President Vladimir Putin’s government and advocates of Ukraine pulling them…
By Caroline Valetkevitch NEW YORK (Reuters) – The U.S. dollar index bounced back on Friday from recent declines as Federal Reserve officials said the central bank may need to be more aggressive to deal with inflation, while the dollar hit a fresh six-year high against the yen. The U.S. dollar also was up 0.1% versus…
By Howard Schneider and Ann Saphir (Reuters) -Two of the Federal Reserve’s most hawkish policymakers on Friday said the central bank needs to take more aggressive steps to combat inflation, and two others said they would be open to it – one of whom just six months ago envisioned a 2022 with no rate increases…
DETROIT (AP) — Volkswagen is recalling more than 246,000 SUVs in the U.S. and Canada because faulty wiring harnesses can make them brake unexpectedly, sometimes while in traffic. The recall comes three days after The Associated Press reported that 47 people had complained to U.S. safety regulators about the problem, some reporting nearly being rear-ended…
By Sinéad Carew, Shreyashi Sanyal and Sabahatjahan Contractor (Reuters) – Wall Street’s three major indexes advanced on Friday, led by gains in recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises. Investors were also eying slowing gains in oil prices…
By Howard Schneider BALTIMORE (Reuters) – The rate increases projected by Federal Reserve officials this week represented a “balancing act” between the need to begin normalizing monetary policy in the face of high inflation, while guarding against a fast tightening of credit that could damage the economy, Richmond Fed President Thomas Barkin said on Friday….
SACRAMENTO, Calif. (AP) — California’s urban water users and farmers who rely on supplies from state reservoirs will get less than planned this year as fears of a third consecutive dry year become reality, state officials announced Friday. Water agencies that serve 27 million people and 750,000 acres (303,514 hectares) of farmland, will get just…
By Eric Onstad LONDON (Reuters) -The London Metal Exchange (LME) again widened its trading band for nickel on Friday, but for a third session in a row it hit limit down, sliding 12% as the LME faced more technical problems. The metal used to make stainless steel and electric vehicle batteries fell to $36,915 a…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. home sales fell by the most in a year in February as a perennial shortage of houses and double-digit price growth continued to squeeze first-time buyers out of the market. With mortgage rates rising above 4% for the first time in nearly three years, sales are likely to…
WASHINGTON (Reuters) – Two U.S. House Democratic lawmakers on Friday asked Hertz Global Holdings, and Avis Budget Group to answer questions about rising rental car prices and higher industry profits. Representative Raja Krishnamoorthi, chairman of the Subcommittee on Economic and Consumer Policy, and Representative Katie Porter said both rental car firms appear to have used…
