(Reuters) – U.S. shoppers plan to spend a record $41.5 billion during the upcoming school year, a trade group forecast on Thursday, as families accommodate an inflation-driven rise in the prices of back-to-school items, particularly electronics. The survey by the National Retail Federation (NRF) predicts consumers will spend 12.5% more during one of the key…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday reiterated that rate hikes will be essential to bring down high inflation in the United States. Daly has previously said she believes two more rate hikes will likely be needed this year. Daly wants to start heading towards a neutral rate as the…
By David Shepardson WASHINGTON (Reuters) – A group of 95 U.S. lawmakers on Thursday urged the Biden administration to finalize stricter emissions limits than it proposed in April, already prompting opposition from most automakers, a letter seen by Reuters showed. A dozen Democratic senators, including Ed Markey, Tom Carper, Alex Padilla, Ron Wyden, Elizabeth Warren,…
HONG KONG/BEIJING (Reuters) -Two creditors of China’s Guangzhou R&F Properties have sued the property developer to seek a bankruptcy restructuring, notices in an official database showed, deploying a rare court tactic against a mid-sized firm of its kind. While many developers, including R&F, have faced legal action by creditors for non-repayment, such restructuring requests to…
(Reuters) -Walt Disney wants to keep ESPN and will look for strategic partners to form a joint venture or buy a stake in the sports network to help take it directly to consumers, CEO Robert Iger said on Thursday in an interview to CNBC. Speaking for the first time since Disney extended his contract until…
By Olena Harmash KYIV (Reuters) -Russian shelling killed three people in Ukraine on Thursday and four were hurt in Kyiv after the capital came under attack for the third successive night, Ukrainian officials said. An woman of 85 and a man in his forties were killed in the south of Ukraine and a 60-year-old person…
(Reuters) – A shift to remote working is likely to wipe off $800 billion from the value of office buildings in major global cities by 2030, according to a study published by consulting firm McKinsey on Thursday. The survey on nine “superstar” cities — Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai…
WASHINGTON (Reuters) – The U.S. Secret Service said on Thursday it had concluded its investigation into cocaine found at the White House and said it had been unable to identify a suspect. The cocaine was found “inside a receptacle used to temporarily store electronic and personal devices prior to entering the West Wing,” the Secret…
WASHINGTON (Reuters) – Andrea Gacki, a veteran U.S. Treasury official who helped design Washington’s Russia sanctions strategy, has been appointed director of the department’s Financial Crimes Enforcement Network (FinCEN), Treasury Secretary Janet Yellen said on Thursday. Gacki, who has headed the Office of Foreign Assets Control (OFAC) since 2019, “guided the office through major world…
By Brendan O’Brien (Reuters) -A federal jury on Thursday decided that Robert Bowers was eligible for the death penalty for killing 11 worshippers at Pittsburgh’s Tree of Life synagogue in 2018, the deadliest antisemitic attack in U.S. history, local media reported. Last month, the jury found Bowers, 50, guilty of dozens of federal hate crimes…
