WASHINGTON (Reuters) – The United States called for the immediate release of detained Wall Street Journal reporter Evan Gershkovich on Tuesday after Russia’s security service sought to extend his detention. “He shouldn’t be detained at all. Journalism is not a crime. He needs to be released immediately,” White House national security spokesman John Kirby told…
By Howard Schneider WASHINGTON (Reuters) -A tight U.S. job market and rising wages are beginning to have more of an impact on inflation and could embed faster rising prices if the demand for workers is not brought into better balance with the labor force, new research from an ex-Federal Reserve chief and a former top…
By Andrew Mills and Tim Hepher (Reuters) – Boeing Chief Executive Dave Calhoun on Tuesday said it could take until the end of 2024 to iron out sector-wide supply chain problems that have hampered global jetliner production. “Priority one for the two airplane manufacturers is stability,” Calhoun told the Qatar Economic Forum, referring to Boeing…
(Reuters) – Alibaba Group Holding Ltd’s cloud unit has started a round of downsizing that will impact 7% of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday. The cloud unit has started to offer severance to employees, the source said. Alibaba did…
By Howard Schneider WASHINGTON (Reuters) – The U.S. Federal Reserve’s 2020 move to put more weight on jobs in setting monetary policy “created more problems than it solved” as inflation surged and policymakers responded more slowly than they otherwise might have, economists including a former Fed vice chair said in research critical of that change….
By George Obulutsa NAIROBI (Reuters) – International Monetary Fund staff and Kenya have reached an agreement that could unlock more than $1 billion of new financing, which could help relieve pressure on government finances in East Africa’s largest economy. Kenya’s finances have been under strain from rising debt repayments and the effects of the worst…
By Gloria Dickie and Kate Abnett LONDON (Reuters) -Over 100 members of the U.S. Congress and European Parliament called on Tuesday for Sultan al-Jaber to be removed as the designated head of the upcoming COP28 climate talks, saying the oil exec’s appointment threatened the integrity of negotiations. Jaber, who heads the United Arab Emirates oil…
By Deborah Mary Sophia (Reuters) -Lowe’s Cos Inc cut its annual sales and profit forecasts on Tuesday, joining larger rival Home Depot in highlighting waning demand for home improvement tools with sticky inflation forcing consumers to cut back on discretionary spending. Still, shares reversed premarket losses and were up 2% in morning trading. Analysts said…
By Jason Lange WASHINGTON (Reuters) -The U.S. government could fall behind on its bills next month – and even default on its debt – if Congress doesn’t raise a $31.4 trillion cap on government borrowing, a failure that could trigger economic calamity and panic on global financial markets. What follows is a timeline showing how…
By Jonathan Stempel (Reuters) -Citizens Bank, one of the largest U.S. regional banks, will pay a $9 million civil penalty to resolve charges it mismanaged customers’ credit card disputes and fraud claims, the Consumer Financial Protection Bureau said on Tuesday. The regulator had accused the Citizens Financial Group Inc unit of violating the federal Truth…
