By Moira Warburton and Ann Saphir WASHINGTON (Reuters) -U.S. President Joe Biden’s three Federal Reserve Board nominees, including his pick to fill the influential Fed vice chair post, advanced toward full Senate confirmation after winning backing from the Senate Banking Committee on Wednesday. Lawmakers led by the panel’s chair, Democrat Sherrod Brown, voted unanimously in…
PARIS (Reuters) -With the exception of Canada, countries with digital services taxes have agreed to hold off applying them for at least another year as a global multinationals tax deal to replace them was pushed back, the OECD said on Wednesday. More than 140 countries were supposed to start implementing next year a 2021 deal…
By Daniel Wiessner (Reuters) – Twitter Inc on Wednesday was hit with a lawsuit accusing it of refusing to pay at least $500 million in promised severance to thousands of employees who were laid off after Elon Musk acquired the company. Courtney McMillian, who oversaw Twitter’s employee benefits programs as its “head of total rewards”…
By Lisa Richwine LOS ANGELES (Reuters) -Negotiators for the SAG-AFTRA actors union agreed late Tuesday to call in a federal mediator to try to forge a last-minute agreement with Hollywood studios and avoid a second simultaneous strike in the entertainment business. The 160,000 members of SAG-AFTRA, Hollywood’s largest union, have authorized a strike if a…
By Granth Vanaik and Juveria Tabassum (Reuters) -Domino’s Pizza shares surged 10% on Wednesday after the chain said customers can start using Uber’s Uber Eats and Postmates apps for orders, as it tries to jolt its sluggish delivery business. Domino’s said Uber Eats will be its exclusive third-party platform in the U.S. until at least…
By Steve Scherer and Ismail Shakil OTTAWA (Reuters) -The Bank of Canada on Wednesday hiked its key overnight rate by a quarter of a percentage point to a 22-year high of 5.0%, and said it could raise rates further because of the risk of inflation stalling above its 2% target. The move to increase borrowing…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are taking advantage of muted U.S. stock market gyrations to load up on contracts that would jump in value should equities see a big drop, boosting the number of open contracts on Wall Street’s most popular volatility gauge near a record high. The one-month moving…
HAVANA (Reuters) – Cuba’s National Assembly said on Wednesday it “strongly condemns” a resolution by the European Parliament, which criticized the country’s human rights record and called for EU sanctions against Cuban President Miguel Diaz-Canel and other top officials. “The European Parliament lacks the moral, political and legal authority to judge Cuba,” Cuba’s parliament said…
By Howard Schneider WASHINGTON (Reuters) -A year after U.S. inflation peaked and touched off an aggressive turn in monetary policy, Federal Reserve officials may be opening a more encouraging chapter in their policy discussion with the first of what analysts expect to be a run of data showing key price measures in steady decline. The…
By Hyunjoo Jin and David Shepardson SAN FRANCISCO (Reuters) -Tesla said the $7,500 federal tax credits for its Model 3 electric vehicles are likely to be reduced after Dec. 31, according to its website on late Tuesday. Tesla did not elaborate on the reasons for the change, but the move comes as U.S. government is…
