By David Shepardson WASHINGTON (Reuters) – Hyundai Motor and Kia Corp will offer software upgrades to 8.3 million U.S. vehicles to help curb increasing car thefts using a method popularized on TikTok and other social media channels, the Korean automakers said on Tuesday. TikTok videos showing how to steal cars made from 2015 to 2019…
By Johann M Cherian and Sruthi Shankar (Reuters) – Wall Street’s main indexes slid on Tuesday after data showed consumer prices accelerated in January, while hawkish remarks from Federal Reserve officials cemented fears that the central bank will continue raising interest rates this year. Data showed U.S. consumer prices accelerated in January as Americans continued…
By Shariq Khan BENGALURU (Reuters) -Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve, lifting some supply concerns from the market. Brent futures for April delivery fell $1.22, or 1.4%, to $85.39 a barrel by 11:17 a.m. EST (1617 GMT). U.S. West Texas Intermediate…
(Reuters) – The Federal Reserve for now still needs to prioritize quashing inflation over risks to U.S. economic growth its steep run up in interest rates may cause, but its policy path depends on incoming economic data, Richmond Fed President Thomas Barkin said on Tuesday. Asked if it was still the case that the U.S….
By David Shepardson WASHINGTON (Reuters) -Hyundai Motor and Kia Corp will offer a software upgrade to 8.3 million U.S. vehicles in response to increasing thefts targeting vehicles without push-button ignitions and immobilizing anti-theft devices, U.S. auto safety regulators said. Hyundai said it is “introducing a free anti-theft software upgrade to prevent the vehicles from starting…
By Miguel Lo Bianco and Horacio Soria BUENOS AIRES (Reuters) – Argentines are increasingly feeling the impact of one of the world’s highest inflation rates, with annual price rises nearing 100%, straining people’s budgets as the cost of food, gas and services far outstrips salaries. The South American country, which has grappled with high inflation…
By Huw Jones LONDON (Reuters) -Britain on Tuesday set out draft legislation to regulate “buy now pay later” (BNPL) credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The sector nearly…
By Huw Jones LONDON (Reuters) – Partners in EY are expected to give a huge thumbs up to spinning off the company’s consulting arm and listing it on the stock market by year end, a senior EY official said on Tuesday. Over 13,000 partners – out of EY’s 365,400 staff – are due to vote…
(Reuters) – U.S. defense contractor Leidos Holdings Inc forecast lower-than-expected 2023 profit as the industry struggles with labor shortages, higher costs and lingering supply chain bottlenecks. The Reston, Virginia-based company expects 2023 profit between $6.40 and $6.80 per share, below analysts’ estimates of $6.82, according to Refinitiv. Newly elected U.S. House speaker Kevin McCarthy’s promise…
By Makiko Yamazaki and Mayu Sakoda TOKYO (Reuters) -Japan’s Toshiba Corp cut its annual earnings estimate after third-quarter profit slumped and its chief operating officer resigned over the inappropriate use of entertainment expenses. The weak performance and the departure of Goro Yanase come at a time when the scandal-ridden industrial conglomerate is assessing a binding…
