By Pete Schroeder and Michelle Price WASHINGTON (Reuters) -The Federal Reserve’s top Wall Street cop Michael Barr and other bank regulators sought to reassure skeptical U.S. lawmakers on Tuesday that their plans to hike U.S. bank capital requirements would not impede lending or hurt small businesses. Members of the U.S. Senate Banking Committee from both…
(Reuters) – U.S. inflation is cooling at what could prove to be its fastest pace in at least 40 years, if not longer, with only a limited rise in the unemployment rate, Chicago Federal Reserve President Austan Goolsbee said on Tuesday. Goolsbee, in remarks prepared for delivery to a Detroit Economic Club event, said that…
By Deborah Mary Sophia (Reuters) -Home Depot sales were better than expected in the third quarter, bolstered by customers spending on plumbing and hardware for repair work and smaller projects, sending its shares up about 7% on Tuesday in a “sigh of relief” rally. Americans have put big renovations and discretionary home-improvement projects on the…
By David Shepardson (Reuters) -Chrysler-parent Stellantis said Monday it is offering 6,400 U.S. salaried employees voluntary buyouts as it works to cut costs amid the transition to electric vehicles and agreeing to a new United Auto Workers contract. The buyouts would be about half the company’s salaried U.S. employees not represented by a union, which…
By Siddharth Cavale NEW YORK (Reuters) – With a mixed picture of consumer demand emerging over the past quarter, earnings results from Walmart and Target on Wednesday and Thursday respectively will shed light on what lies ahead for U.S. retailers ahead of Black Friday. After a turbulent holiday season last year, when inflation peaked, shoppers’…
(Reuters) – Shares of Boeing rose on Monday after a report said China was considering ending its freeze on purchases of the planemaker’s best-selling 737 MAX aircraft after more than four years. This, coupled with bumper jet orders from Middle Eastern airlines at the Dubai Airshow, sent Boeing shares up 4%. Supplier Spirit Aerosystems also…
By Valentine Hilaire and Divya Rajagopal (Reuters) – Panama’s top court is likely to rule against Canadian miner First Quantum when it decides on the fate of a key copper mine contract in the coming weeks, a majority of lawyers in a Reuters survey said, citing precedent for a similar verdict. The court’s nine judges…
WASHINGTON (Reuters) – U.S. President Joe Biden wants to re-establish military-to-military ties with China, White House national security adviser Jake Sullivan said on Sunday, days before the president and the Chinese leader are set to meet. Biden will meet Chinese President Xi Jinping in person for the first time in a year on Wednesday during…
By Trevor Hunnicutt and Ernest Scheyder WASHINGTON (Reuters) – The United States and Indonesia on Monday will discuss how to advance a potential minerals partnership aimed a stimulating trade of the electric vehicle (EV) battery metal nickel, according to three people with direct knowledge of the conversations. Next steps that could move the countries toward…
By David Lawder and Ann Saphir SAN FRANCISCO (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that she agreed with Chinese Vice Premier He Lifeng to “intensify communication” on economic issues but warned him to crack down on Chinese companies that give material support to Russia for its war in Ukraine. The two “had…
