By Karolina Tagaris and Stamos Prousalis KALAMATA, Greece (Reuters) -At least 79 migrants drowned early on Wednesday and hundreds more were missing and feared dead after their overloaded boat capsized and sank in open seas off Greece, in one of Europe’s deadliest shipping disasters in recent years. As a painstaking search for survivors continued, a…
By Miguel Lo Bianco BUENOS AIRES (Reuters) – Anahà Robledo feeds 50 families each day at the community kitchen she runs in a poor neighborhood on the outskirts of Buenos Aires, struggling with the chronic inflation that has thrown four in every ten people in the country into poverty. Argentina is battling an economic crisis…
By Blake Brittain (Reuters) – A U.S. Patent Office tribunal ruled for Intel Corp on Tuesday on the chipmaking giant’s bid to invalidate a patent that represented $1.5 billion of a $2.18 billion verdict it lost to VLSI Technology LLC in 2021. The Patent Trial and Appeal Board invalidated the computer chip-related patent after canceling…
By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s annual inflation rate topped 114% in May, but in a silver lining for the embattled South American country the monthly rise came in well below analyst forecasts and posted a surprise slowdown versus a peak the month before. The monthly rise in the consumer price index (CPI)…
By Jody Godoy (Reuters) – A U.S. appeals court on Tuesday partly revived a shareholder lawsuit against Prudential Financial Inc alleging the insurer concealed a shortfall with its individual life insurance policy reserves in 2019. The 3rd U.S. Circuit Court of Appeals said investors had a plausible claim the insurer falsely downplayed mortality among policyholders…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve policymakers reached a milestone on Wednesday when they left the U.S. central bank’s benchmark overnight interest rate steady for the first time after 10 consecutive hikes. While Fed officials still see rates rising further, by as much as half a percentage point by the end of this…
WASHINGTON (Reuters) – U.S. Attorney General Merrick Garland on Wednesday defended the independent special counsel he appointed to handle federal criminal cases against former President Donald Trump, the first U.S. president to be charged with federal crimes. Garland, in response to a reporter’s question, rejected the allegations of some Republicans in Congress that Trump’s prosecution…
NEW YORK (Reuters) – Citigroup Inc in the second quarter will book severance costs associated with around 1,600 job cuts, chief financial officer Mark Mason said on Wednesday. Speaking at a conference in New York, Mason said the bank’s expenses in the second quarter will be $300 million to $400 million higher than the first…
NEW YORK (Reuters) – The Federal Reserve kept interest rates unchanged on Wednesday but signaled in new economic projections that borrowing costs will likely rise by another half of a percentage point by the end of this year as the U.S. central bank reacted to a stronger-than-expected economy and a slower decline in inflation. The…
By Sri Hari N S (Reuters) -Charles Schwab expects its second-quarter revenue to drop by 10% to 11% due to a contraction in its net interest margin and softer trading activity, the brokerage firm said on Wednesday. The company said it has had to rely on more expensive funding sources, like borrowing from the Federal…
