By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 2% to a two-week low on Wednesday despite a sharp decline in U.S. crude inventories, as the dollar strengthened on fears that looming Federal Reserve interest rate hikes could curb energy demand in the world’s top consumer. A stronger U.S. dollar can hurt global demand…
By Huw Jones LONDON (Reuters) – The rest of the world should copy European Union rules for cryptoassets to create a robust global approach that protects consumers and financial stability, the EU’s financial services chief said on Wednesday. The European Parliament is due on Thursday to rubber stamp the EU’s markets in cryptoassets regulation (MiCA),…
By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) -The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10% in March and put more pressure on the Bank of England to keep raising rates. The dollar index, which tracks the currency against…
By Daniel Wiessner (Reuters) – President Joe Biden had the power to require employees of federal contractors to receive COVID-19 vaccinations, a U.S. appeals court ruled on Wednesday, throwing out a judge’s ruling that had blocked the mandate in Arizona. A panel of the San Francisco-based 9th U.S. Circuit Court of Appeals said the 2021…
By Daniel Wiessner (Reuters) – Amazon.com Inc must face a proposed U.S. nationwide class action accusing the company of illegally monitoring private Facebook groups that delivery drivers used to discuss working conditions, a U.S. appeals court said on Wednesday. A divided panel of the San Francisco-based 9th U.S. Circuit Court of Appeals said an agreement…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -About 155,000 federal workers in Canada walked off the job on Wednesday after failing to reach a deal for higher wages and work-from-home guarantees, a strike that affects a range of public services from tax returns to passport renewals. The Public Service Alliance of Canada (PSAC) union…
By Ismail Shakil OTTAWA (Reuters) – About 155,000 federal workers in Canada walked off the job on Wednesday after failing to reach a deal for higher wages and work-from-home guarantees, a strike that affects a range of public services from tax returns to passport renewals. The contract negotiations cover two main groups of employees: 120,000…
By Mimosa Spencer PARIS (Reuters) -L’Oreal reported a 13% rise in first-quarter sales, beating expectations thanks to strong business in the United States and Europe as shoppers shrugged off rising prices, but has yet to benefit from the end of COVID-19 curbs in China. Sales of the French cosmetics group, which sells brands ranging from…
By Manya Saini and Tatiana Bautzer (Reuters) – Morgan Stanley’s profit beat expectations as wealth management revenue climbed in the first quarter, offsetting slumps in investment banking and trading revenue. The bank earned $1.70 per share, beating analysts’ average estimate of $1.62 per share, according to Refinitiv data. Its stock edged 0.5% higher to $90.34 in…
By Emilio Parodi and Foo Yun Chee MILAN/BRUSSELS (Reuters) -European Union antitrust regulators have started inspecting a facility of luxury goods company Gucci as part of an EU investigation spanning several countries, Gucci’s French owner Kering said on Wednesday confirming a Reuters report. “The group is fully cooperating with the (European) Commission in the context…
