(Reuters) – The Federal Reserve for now still needs to prioritize quashing inflation over risks to U.S. economic growth its steep run up in interest rates may cause, but its policy path depends on incoming economic data, Richmond Fed President Thomas Barkin said on Tuesday. Asked if it was still the case that the U.S….
By David Shepardson WASHINGTON (Reuters) -Hyundai Motor and Kia Corp will offer a software upgrade to 8.3 million U.S. vehicles in response to increasing thefts targeting vehicles without push-button ignitions and immobilizing anti-theft devices, U.S. auto safety regulators said. Hyundai said it is “introducing a free anti-theft software upgrade to prevent the vehicles from starting…
By Miguel Lo Bianco and Horacio Soria BUENOS AIRES (Reuters) – Argentines are increasingly feeling the impact of one of the world’s highest inflation rates, with annual price rises nearing 100%, straining people’s budgets as the cost of food, gas and services far outstrips salaries. The South American country, which has grappled with high inflation…
By Huw Jones LONDON (Reuters) -Britain on Tuesday set out draft legislation to regulate “buy now pay later” (BNPL) credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The sector nearly…
By Huw Jones LONDON (Reuters) – Partners in EY are expected to give a huge thumbs up to spinning off the company’s consulting arm and listing it on the stock market by year end, a senior EY official said on Tuesday. Over 13,000 partners – out of EY’s 365,400 staff – are due to vote…
(Reuters) – U.S. defense contractor Leidos Holdings Inc forecast lower-than-expected 2023 profit as the industry struggles with labor shortages, higher costs and lingering supply chain bottlenecks. The Reston, Virginia-based company expects 2023 profit between $6.40 and $6.80 per share, below analysts’ estimates of $6.82, according to Refinitiv. Newly elected U.S. House speaker Kevin McCarthy’s promise…
By Makiko Yamazaki and Mayu Sakoda TOKYO (Reuters) -Japan’s Toshiba Corp cut its annual earnings estimate after third-quarter profit slumped and its chief operating officer resigned over the inappropriate use of entertainment expenses. The weak performance and the departure of Goro Yanase come at a time when the scandal-ridden industrial conglomerate is assessing a binding…
By Sudipto Ganguly MUMBAI (Reuters) -Indian Prime Minister Narendra Modi’s party has “nothing to hide or be afraid of” on the controversy over Adani group, the home minister said on Tuesday, responding to opposition allegations of favouring the conglomerate attacked by a U.S. short seller. Led by billionaire Gautam Adani, the business house’s seven listed…
BERLIN (Reuters) -Ford plans to cut 3,800 product development and administration jobs in Europe in the next three years, the company said on Tuesday, citing rising costs and the need for a leaner structure as it pivots production to electric vehicles. Around 2,300 jobs will go at the carmaker’s Cologne and Aachen sites in Germany,…
By Huw Jones LONDON (Reuters) -Britain on Tuesday will set out draft legislation to regulate “buy now pay later” credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The sector nearly…
