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…
By Simon Lewis WASHINGTON (Reuters) -Myanmar’s military has imported at least $1 billion in arms and other material since it staged a coup in February 2021, a UN expert said on Wednesday in a new report that calls out Russia and China for aiding the junta’s deadly campaign to crush its opposition. Since the military…
WASHINGTON (Reuters) – Boeing Co said on Wednesday it is rolling out a data modeling tool aimed at helping airlines and policymakers determine the quickest, most efficient path to reducing aviation emissions to zero by 2050. The tool, known as Cascade, allows users to adjust different variables – such as the use of sustainable fuels…
