By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy added the fewest jobs in 2-1/2 years in June, but persistently strong wage growth pointed to still-tight labor market conditions that most certainly ensure the Federal Reserve will resume raising interest rates later this month. The Labor Department’s closely watched employment report on Friday also showed…
(Reuters) – A U.S. court of appeals on Friday rejected Venezuela’s bid to prevent six companies from joining a proposed court auction of shares in a Citgo Petroleum parent to enforce judgments for past expropriation of assets. The decision allows the six to move ahead with their about $3 billion in combined claims against Venezuela…
By Julie Zhu and Jane Xu HONG KONG (Reuters) -Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul of the fintech company and marking a key step to concluding a crackdown on the country’s internet sector. China’s central bank said that financial regulators would…
By Andrea Shalal and Joe Cash BEIJING (Reuters) – U.S. Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticized its recent tough actions against U.S. companies and mineral export controls, while China’s premier called on her to “meet China halfway” and put bilateral relations back on track. Yellen met with…
By Kanishka Singh and Nandita Bose WASHINGTON (Reuters) -Acting U.S. Labor Secretary Julie Su said on Friday she does not see a need at this stage to step in to urge parties to reach a deal in contract talks between the Teamsters Union and United Parcel Service. “That is right,” Su said on CNN when…
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Brent futures rose $1.95, or 2.6%, to settle at $78.47 a barrel, while U.S. West Texas…
(Reuters) – The U.S. Senate Banking Committee will vote on Wednesday on whether to advance President Joe Biden’s pick for the Federal Reserve’s next vice chair, current Fed Governor Philip Jefferson, for consideration by the full Senate. The panel will also vote on Fed Governor Lisa Cook, re-nominated for a 14-year term, and Fed Board…
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department said on Friday that state programs using its COVID-19 Homeowner Assistance Fund distributed $1.2 billion in aid to homeowners in the first quarter of this year, bringing the program’s total payments to $3.7 billion so far. Payments from the $10 billion program, launched as part…
By David Carnevali and Mike Stone NEW YORK (Reuters) – Private equity firms Blackstone Inc and Veritas Capital Fund Management LLC are competing against large defense companies to acquire the aerospace business of Ball Corp, according to people familiar with the matter. Defense firms BAE Systems, General Dynamics Corp and Textron Inc have also expressed…
WASHINGTON (Reuters) – Wall Street’s top regulator is due to vote next week on proposed changes aimed at helping control systemic risk in the money market and large liquidity fund sectors, which together comprise trillions in investor dollars. The five-member U.S. Securities and Exchange Commission will vote on a 2021 proposal to boost the resiliency…
