(Reuters) – U.S. inflation does not look like it is cooling fast enough to allow the Federal Reserve to hit pause on the interest-rate hike campaign it began more than a year ago, two Fed policymakers said on Thursday. The remarks, from Dallas Federal Reserve Bank President Lorie Logan and St. Louis Fed President James…
(Reuters) – Egypt’s central bank kept its overnight interest rates unchanged on Thursday, saying that growth had slowed in the fourth quarter and international commodity prices were easing. As forecast by analysts, the bank left its lending rate at 19.25% and deposit rate at 18.25%, its Monetary Policy Committee (MPC) said in a statement. “Domestically,…
(Reuters) – The U.S. Consumer Product Safety Commission (CPSC) on Thursday approved a repair for a rear guard of Peloton Interactive Inc’s recalled ‘Tread+’ treadmill. The fitness equipment maker had announced a costly recall of its ‘Tread+’ treadmill in 2021 following the reports of multiple injuries and the death of a child in an accident….
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -Bank of Canada Governor Tiff Macklem suggested April’s inflation increase – the first in 10 months – was an anomaly and said consumer prices would continue to come down, prompting markets to pare expectations for another hike. The central bank has been warning Canadians that rates could…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in U.S. Bankruptcy Court in Delaware targeting…
KHARTOUM (Reuters) -Heavy air strikes pounded southern areas of Sudan’s capital on Thursday as clashes flared near a military camp, witnesses said, in fighting that has displaced nearly 1 million people and left residents of Khartoum struggling to survive. Air strikes by the army targeting the paramilitary Rapid Support Forces (RSF) were heard across several…
By Leroy Leo (Reuters) -The U.S. Centers for Disease Control and Prevention is urging people at high risk of mpox to get two doses of Bavarian Nordic’s Jynneos vaccine, based on new evidence from a U.S. study showing that the regimen is more effective at preventing infection than one shot. The study, published on Thursday,…
By Jonathan Stempel NEW YORK (Reuters) -Deutsche Bank AG agreed to pay $75 million to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. The accord resolves a proposed class action in Manhattan federal court, and was confirmed…
By Jonathan Stempel (Reuters) – Google will pay Washington state $39.9 million to resolve a lawsuit accusing the Alphabet Inc unit of misleading consumers about its location tracking practices, state Attorney General Bob Ferguson said on Thursday. The settlement resolves claims that Google deceived people into believing they controlled how the search and advertising company…
By Aishwarya Venugopal (Reuters) – Lower input costs and inventories, as well as extended price hikes are pushing a quicker-than-expected recovery in margins at U.S. consumer-facing firms including PepsiCo, Kraft Heinz, and Target, their recent earnings reports indicated. Investors have zeroed in on gross margins, that faltered in the past several quarters, as high inflation…
