By David Shepardson WASHINGTON (Reuters) -JetBlue Chief Executive Robin Hayes strongly defended the airline’s $3.8 billion plan to buy ultra-low cost carrier Spirit Airlines despite the Justice Department’s lawsuit Tuesday challenging the deal. “Of course we’re going to continue to offer low fares,” Hayes told Reuters in an interview. “This argument that we’ll take seats…
By Kantaro Komiya and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s real wages fell the most in nearly nine years in January, official data showed, as four-decade-high inflation squeezed the purchasing power of consumers and undercut efforts by policymakers to revive a COVID-ravaged economy. Wage trends in the world’s third-largest economy are under close market scrutiny…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was riding high on Wednesday, flung to three-month peaks when Federal Reserve Chair Jerome Powell surprised investors by warning that interest rates might need to go up faster and higher than expected to rein in inflation. The rising greenback broke above its 200-day moving average against the…
By David Shepardson WASHINGTON (Reuters) -The White House said it backed legislation introduced on Tuesday by a dozen Senators to give the administration new powers to ban Chinese-owned video app TikTok and other foreign-based technologies if they pose national security threats. The endorsement boosts efforts by a number of lawmakers to ban the popular ByteDance-owned…
(Reuters) -The U.S. Federal Trade Commission asked Twitter to turn over some internal communications related to owner Elon Musk and other detailed information about business decisions as part of an investigation into the social media company, according to a report put out by two House of Representatives committees. The FTC sent more than a dozen…
(Reuters) – The European Union told Elon Musk to hire more human moderators and fact-checkers to review posts on Twitter, the Financial Times reported on Monday, citing four people familiar with talks between Musk, Twitter executives and regulators in Brussels. The demand complicates Musk’s efforts to reorganize the loss-making business he acquired for $44 billion…
(Reuters) – WeWork Inc is in talks with investors to restructure its outstanding debt of more than $3 billion and raise more cash, the New York Times reported on Tuesday. An infusion of cash would most likely give WeWork the hundreds of millions of dollars it needed to keep operating for at least a few…
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s Chief Executive Officer Brian Moynihan had a clear message for shareholders on Tuesday: “We are capitalists.” The proclamation from the head of the second-largest U.S. lender might seem obvious, but comes at a time when Wall Street titans face more criticism…
WASHINGTON (Reuters) -The Federal Reserve should “take a breath” as it looks poised to push interest rates even higher than previously expected after recent data showed less progress than central bank officials had hoped for in lowering inflation, a White House official said on Tuesday. Asked about Fed Chair Jerome Powell’s comments earlier in the…
MEXICO CITY (Reuters) – Mexico’s inflation likely slowed in February but still remained well above the official target, fueling expectations the central bank will raise its key rate again in its next monetary policy announcement at the end of March. The median forecast of 17 analysts shows annual inflation at 7.69% in February, down from…
