By David Shepardson WASHINGTON (Reuters) -A U.S. House of Representatives committee on Wednesday narrowly voted to raise the mandatory commercial pilot retirement age to 67 from 65. Members of the House Transportation and Infrastructure Committee voted 32 to 31 for the pilot age amendment to a proposed five-year bill to reauthorize the Federal Aviation Administration…
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet’s Google may have to sell part of its lucrative adtech business to address concerns about anti-competitive practices, EU regulators said on Wednesday, threatening the company with its harshest regulatory penalty to date. The European Commission set out its charges in a statement of objections to Google two…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar slid on Wednesday after the Federal Reserve held interest rates steady, as expected, but signaled that borrowing costs will increase by another 50 basis points (bps) by end-December. The dollar index was last down 0.3% at 103.01 after hitting a four-week low of 102.66 in…
By Miguel Lo Bianco BUENOS AIRES (Reuters) – Anahí 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 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 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…
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…
By Daniel Wiessner (Reuters) – A U.S. appeals court on Wednesday revived a lawsuit by a white former employee of Indian IT services company Tech Mahindra Ltd’s U.S. subsidiary, alleging that the company discriminates against non-South Asian workers. A unanimous three-judge panel of the 3rd U.S. Circuit Court of Appeals said the judge who dismissed…
By Arathy Somasekhar HOUSTON(Reuters) – Oil prices fell 1.5% on Wednesday after the U.S. Federal Reserve projected more interest rate hikes this year, worrying markets about demand just hours after government data showed an unexpected, large build in U.S. crude oil stocks. Brent crude futures settled $1.09, or 1.5%, lower at $73.20 a barrel, while…
