(Reuters) – A protracted default on U.S. payment obligations could result in the loss of 8.3 million jobs and a 6.1% reduction in economic output, according to an analysis by the White House Council of Economic Advisers released on Wednesday. Such an unprecedented default “would likely lead to severe damage to the economy, with job…
By Sam Jabri-Pickett TORONTO (Reuters) -Google and Meta would withdraw access to news articles in Canada if legislation compelling internet companies to pay news publishers is passed, company executives told Canadian lawmakers on Wednesday. Canada’s proposed legislation would force platforms like Google parent Alphabet Inc and Facebook parent Meta Platforms Inc to negotiate commercial deals…
By Daniel Trotta (Reuters) – An autopsy showed Tyre Nichols had a legal amount of alcohol and a trace amount of marijuana in his blood when Memphis police beat the Black man to death after a traffic stop in January, ABC News reported on Wednesday, undermining police claims that Nichols was high. Nichols’ death provoked…
NEW YORK (Reuters) – Goldman Sachs Group Inc is in talks to settle a class-action lawsuit that alleged widespread gender bias against women in pay and promotions, said a source familiar with the matter. The move to settle the case comes roughly a month before the trial was set to begin. The plaintiffs, former employees…
By Devayani Sathyan BENGALURU (Reuters) -Australia’s central bank will likely deliver one more 25-basis-point interest rate increase by end-September to 4.10% following a surprise hike on Tuesday, according to a slim majority of economists in a snap Reuters poll. The Reserve Bank of Australia, which apologized last year for providing unclear guidance, has sent mixed…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase on Wednesday with what may be the last in a historic series of interest rate hikes and heightened attention to credit and other economic risks. The U.S. central bank raised its…
NEW YORK (Reuters) – Goldman Sachs Group Inc is in talks to settle a class-action lawsuit that alleged widespread gender bias against women in pay and promotions, said a source familiar with the matter. The move to settle the case comes roughly a month before the trial was set to begin. The plaintiffs, former employees…
WASHINGTON (Reuters) -U.S. President Joe Biden is expected to nominate Federal Reserve Governor Philip Jefferson as the next vice chair, two sources familiar with the matter said on Wednesday In addition, economist Adrian Kugler is expected to be nominated to an open Fed board seat, with an announcement anticipated in coming days, the sources said….
By Jonathan Stempel and Jack Queen NEW YORK (Reuters) -E. Jean Carroll, the writer accusing Donald Trump of rape and defamation, on Monday denied making up her claims to drive publicity for her memoir. Testifying in Manhattan federal court after the judge denied Trump’s request for a mistrial, Carroll said she wasn’t seeking attention through…
(Reuters) -U.S. shale oil producers Marathon Oil Corp and APA Corp on Wednesday topped Wall Street’s first-quarter profit estimates on strong crude prices and demand. Shares of APA rose 2% in extended trade on a pledge to reduce spending on new production this year, while Marathon fell 3% after promising to retain its output and…
