By Mimosa Spencer NEW YORK (Reuters) – As Tiffany & Co. celebrates its freshly refurbished New York City flagship, “The Landmark,” behind the scenes, top executives are also focused on a retail overhaul further afield — in China, its second biggest market. “There is huge opportunity for Tiffany in China,” Tiffany & Co. Chief Executive…
By Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s central bank hiked its benchmark interest rate a huge 10 percentage points to 91% on Thursday as it tries to tame high inflation and steady the peso currency, which has tumbled in black market trading over the last week. The hike, the biggest since a market meltdown in…
(This April 26 story has been corrected to show that the trade group Flex has not taken an official position on the nomination in paragraph 11) By Daniel Wiessner (Reuters) – A U.S. Senate committee on Wednesday voted along party lines to advance President Joe Biden’s nominee for U.S. labor secretary, Julie Su, to the…
By Stephanie Kelly NEW YORK (Reuters) – Oil prices steadied on Thursday, paring losses from the previous session, after a top Russian official said global oil markets were balanced. Russian Deputy Prime Minister Alexander Novak said OPEC+ does not see the need for further oil output cuts but is always able to adjust its policy….
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose on Thursday as weaker-than-expected U.S. economic growth in the first quarter is viewed as not likely to deter the Federal Reserve from raising interest rates next week. The advance estimate of first-quarter gross domestic product (GDP) showed a 1.1% annualized rate during the period. The…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. economic growth slowed more than expected in the first quarter as an acceleration in consumer spending was offset by businesses liquidating inventories in anticipation of weaker demand later this year amid higher borrowing costs. The first decline in private inventories in 1-1/2 years reported by the Commerce Department…
By Humeyra Pamuk and Daphne Psaledakis WASHINGTON (Reuters) -The United States on Thursday imposed sanctions on Russia’s domestic security service FSB and the intelligence unit of Iran’s Revolutionary Guard Corps (IRGC) accusing them of being responsible or complicit in the wrongful detention of Americans overseas. The sanctions also targeted four senior commanders within IRGC’s IO,…
By Nupur Anand and Lananh Nguyen NEW YORK (Reuters) – JPMorgan Chase & Co CEO Jamie Dimon sent a clear message to employees this month: get back to the office. It touched a nerve among his staff. The largest U.S. lender’s employees inundated an internal messaging forum with criticism after its operating committee posted an…
By Michael S. Derby (Reuters) – The Federal Reserve’s in-house watchdog agency is pushing back against proposed legislation in the U.S. Senate that would overhaul how the government department is led. Mark Bialek, who heads the Office of the Inspector General of the Federal Reserve System and the Consumer Financial Protection Bureau, said in a…
By Patricia Zengerle and David Brunnstrom WASHINGTON (Reuters) -South Korean President Yoon Suk Yeol told U.S. lawmakers on Thursday it is necessary to speed up trilateral cooperation with Japan and the United States to counter increasing North Korean nuclear threats, and said the world must not “shy away” from promoting freedom for the North. Yoon,…
