By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday the U.S. central bank will have to do more on the policy front to get still high inflation pressures back down to the 2% target. “Some additional tightening may be needed to ensure policy is restrictive enough…
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The U.S. seeks “constructive and fair” economic ties with China, but will protect its national security interests and push back against Chinese actions to dominate foreign competitors, Treasury Secretary Janet Yellen said on Thursday. Speaking at Johns Hopkins University’s School of Advanced International Studies, Yellen laid out…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan is warming to the idea of tweaking its controversial bond yield control policy later this year, but will likely keep settings unchanged at next week’s meeting as it awaits more evidence of sustained wage growth, sources say. Kazuo Ueda chairs his first policy meeting since becoming…
By Lewis Krauskopf, Sruthi Shankar and Ankika Biswas (Reuters) – Major U.S. stock indexes ended lower on Thursday after disappointing quarterly reports from companies including Tesla and AT&T, while investors sought clarity on the path of interest rates. Tesla shares tumbled 9.7% after the electric vehicle maker posted its lowest quarterly gross margin in two…
By Siddharth Cavale NEW YORK (Reuters) – Walmart Inc shareholders will be asked to vote on a number of new proposals including revealing its exposure to China and conducting an independent review of its safety practices related to gun violence at its annual general meeting next month, a securities filing on Thursday showed. Investors will…
By Stephen Nellis (Reuters) – Two companies that make tools for manufacturing chips said that they expect sales to China to boom later this year despite U.S. export restrictions on equipment used to make cutting-edge semiconductors. The comments by California-based Lam Research and the Netherlands’ ASML Holdings NV are a sign that China may be…
NEW YORK (Reuters) – Federal Reserve emergency lending to banks in the wake of last month’s financial sector troubles remains high and increased modestly in the latest week, according to data released on Thursday by the Federal Reserve. The institution reported that borrowing via three programs aimed at supporting banks moved to $316.5 billion as…
(Reuters) – Clorox Co on Thursday said it would cut about 200 positions, or 4% of its non-production workforce, as it looks to keep a lid on costs amid worries of an economic slowdown. The Pine-Sol manufacturer joins a list of companies – from tech firms to retailers such as Bed Bath & Beyond Inc…
By Hyunjoo Jin and Akash Sriram (Reuters) – Elon Musk is counting on full-self driving and other new technologies and vehicles at Tesla Inc to provide the “wow factor” that will continue to drive the electric carmaker’s value far beyond its automotive rivals. Some analysts and investors worry that Tesla’s industry-leading market valuation is threatened…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Japanese inflation figures for March and the first insights into economic activity around the world this month from flash PMI reports grab the spotlight on Friday, as investors reflect on mounting evidence of slowing U.S. economic and earnings…
