By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to a seven-week high on Wednesday, boosted by optimism about a deal to extend the debt ceiling and avert a U.S. default and amid a round of solid economic data that suggests rate cuts from the Federal Reserve could come later rather than sooner. The…
(Reuters) – BlackBerry Ltd on Wednesday forecast as much as 54% jump in 2026 sales from current year on the back of growth in its cybersecurity business, sending shares up 5%. The security software and services provider expects 2026 revenue to be between $880 million and $960 million. “Gross margin for the Cybersecurity business unit…
By Lisa Baertlein CHICAGO (Reuters) -The U.S. supply chain is healing from early pandemic shocks that sent shipping costs skyrocketing and squeezed supplies of everything from toilet paper to pasta, but more than three years later, material shortages and hiring woes linger. Rates for trucking, ocean shipping and other transportation tumbled after U.S. consumers shifted…
By Daniel Wiessner (Reuters) – A group of Republican-led U.S. states has asked a federal judge in Texas to strike down a Biden administration rule allowing socially conscious investing by retirement plans, saying it will imperil Americans’ retirement savings. Lawyers for the 25 states led by Utah and Texas said in a filing in Amarillo,…
By Michael S. Derby NEW YORK (Reuters) – Risks to the economic outlook in a time of a rapid Federal Reserve rate increases remains high, even as it eased a bit, according to a report Wednesday from the Federal Reserve Bank of New York. The regional central bank arm made its finding as part of…
By Laura Sanicola (Reuters) -Oil prices settled up about $2 on Wednesday as optimism over oil demand and U.S. debt ceiling negotiations outweighed worries about abundant supply. Brent crude futures settled up $2.05, or 2.7%, to $76.96 a barrel. West Texas Intermediate U.S. crude settled up $1.97 or 2.8% to $72.83. “Today’s strong oil trade…
ABOARD AIR FORCE ONE (Reuters) – White House national security adviser Jake Sullivan, asked on Wednesday about a recent break-in at his home, said he had “total faith” in the Secret Service. The Secret Service on Tuesday said it was investigating a security incident at the site of “protectee” but did not name Sullivan. The…
By Tatiana Gomozova and Lucy Papachristou MOSCOW (Reuters) – Three Russian academics who have worked on hypersonic missile technology face “very serious accusations”, the Kremlin said on Wednesday, in a treason investigation that has spread alarm through Russia’s scientific community. Kremlin spokesman Dmitry Peskov said he was aware of an open letter from Siberian scientists…
By Kate Abnett BRUSSELS (Reuters) -Southern Europe is bracing for a summer of ferocious drought, with some regions already suffering water shortages and farmers expecting their worst yields in decades. As climate change makes the region hotter and drier, years of consecutive drought have depleted groundwater reserves. Soils have become bone dry in Spain and…
BERLIN (Reuters) -German carmaker Volkswagen plans to overhaul its core brand to increase efficiency and returns, according to an internal memo from VW brand chief Thomas Schaefer seen by Reuters on Wednesday. “We can see that our brand – despite all its strengths – is not yet on a sufficiently solid economic footing,” Schaefer wrote…
