By Michael S. Derby WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell said on Wednesday that financial conditions are likely to allow the central bank to press forward with the drawdown of its massive balance sheet through the remainder of the year. As the Treasury moves toward selling massive amounts of debt to rebuild its…
OTTAWA (Reuters) – Canada will freeze the planned deportation of dozens of students who entered the country using fraudulent university letters of acceptance, Immigration Minister Sean Fraser said on Wednesday. Fraser spoke after the Canadian Broadcasting Corp reported in March that several students from India had been served deportation papers for using forged documents to…
By Sinéad Carew (Reuters) – MSCI’s global equity index closed slightly higher on Wednesday after a volatile afternoon while the dollar cut its losses after the U.S. Federal Reserve paused interest rate hikes as was widely expected but signalled that it could raise rates by another half percentage point by year-end. The central bank issued…
By David Shepardson WASHINGTON (Reuters) -Time is running out on a deadline for Microsoft to complete its $69 billion merger with Activision Blizzard, compelling the companies to ask a U.S. judge on Wednesday to quickly get the ball rolling on the Federal Trade Commission’s legal bid to block the deal from closing. U.S. District Judge…
By Moira Warburton WASHINGTON (Reuters) – The U.S. House of Representatives on Wednesday rejected a Republican effort to censure Representative Adam Schiff, a Democrat who played a leading role in the first impeachment of then-President Donald Trump in 2019. The Republican-controlled chamber defeated the motion by a vote of 225 to 196, with 20 Republicans…
(Reuters) -Target’s move to pull some LGBTQ-themed merchandise from stores following customer backlash “is wrong,” New York Attorney General Letitia James said in a tweet on Tuesday and urged the retailer to reverse its decision. At least 14 New York officials have signed a letter regarding Target’s decision, according to James’s tweet. Target said last…
By David Shepardson WASHINGTON (Reuters) -A U.S. House of Representatives committee on Wednesday narrowly voted to raise the mandatory commercial pilot retirement age to 67 from 65. Members of the House Transportation and Infrastructure Committee voted 32 to 31 for the pilot age amendment to a proposed five-year bill to reauthorize the Federal Aviation Administration…
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet’s Google may have to sell part of its lucrative adtech business to address concerns about anti-competitive practices, EU regulators said on Wednesday, threatening the company with its harshest regulatory penalty to date. The European Commission set out its charges in a statement of objections to Google two…
By David Shepardson WASHINGTON (Reuters) -U.S. President Joe Biden on Wednesday vetoed a measure approved by Congress that would overturn his administration’s sharp new limits on emissions from heavy-duty trucks responsible for significant soot and smog. The veto preserves Environmental Protection Agency (EPA) rules will “make our air cleaner and prevent thousands of premature deaths…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar slid on Wednesday after the Federal Reserve held interest rates steady, as expected, but signaled that borrowing costs will increase by another 50 basis points (bps) by end-December. The dollar index was last down 0.3% at 103.01 after hitting a four-week low of 102.66 in…
