(Reuters) – The Federal Reserve will need to move more aggressively to remove accommodation than it did following the Great Recession by raising interest rates at a faster pace and shrinking its balance sheet more quickly, Cleveland Fed President Loretta Mester said on Thursday. “Barring a material change in the economy, I anticipate that it…
By Ann Saphir (Reuters) – Federal Reserve Chair Jerome Powell won high marks from Wall Street as he dialed up expectations late last year for a more hawkish policy stance to quell rising inflation, a survey by the New York Federal Reserve published Thursday showed. The report card is included in the New York Fed’s…
By Matt Scuffham, Noor Zainab Hussain and Elizabeth Dilts Marshall NEW YORK (Reuters) -Wall Street’s biggest banks sounded a warning over the year ahead on Thursday, citing high inflation, credit concerns, asset price depreciation and companies postponing deals due to market uncertainty. U.S. banks reported a mixed bag of fourth quarter earnings last month as…
(Reuters) – Intel Corp said on Thursday it has pushed back the launch of standalone graphics chips for desktops to the second quarter, while those for laptops will be rolled out in the first quarter as originally planned. The announcement comes against the backdrop of an ongoing chip shortage and global supply chain issues, with…
By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -German insurer and asset manager Allianz on Thursday said it would set aside 3.7 billion euros ($4.20 billion) to deal with investigations and lawsuits resulting from the collapse of a multi-billion-euro set of investment funds. The provision resulted in a net loss attributable to shareholders of 292…
By Matt Scuffham NEW YORK (Reuters) -Goldman Sachs on Thursday upgraded its key profitability targets and set new goals for its asset management, transaction banking and consumer businesses as it laid out its strategy for the next three years. Wall Street’s premier investment bank is reshaping itself after a turbulent decade during which profit at…
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages which could unlock more crude supplies, but losses were limited by tension between top energy exporter Russia and the West over Ukraine. “(The) oil market is locked in a…
MEXICO CITY (AP) — Experts say you may be paying more for your avocado toast in the short term, and the effects of the U.S. temporary ban on imports of the fruit is already being felt by avocado pickers in Mexico. Mexico is negotiating security guarantees for U.S. inspectors who certify Mexican avocados for export….
WASHINGTON (Reuters) – The Federal Communications Commission (FCC) said on Thursday that voice service providers Bandwidth and Vonage lost a partial exemption from standards aimed at preventing robocalls and were referred for further investigation. The companies did not immediately respond to requests for comment. “We will not turn a blind eye to providers that have…
By Karin Strohecker and Natalia Zinets LONDON/KYIV (Reuters) – Ukraine is working with the United States and other Western nations on unlocking billions of dollars in funding to shore up its finances and is looking to the International Monetary Fund for another deal, the country’s finance minister said. Serhiy Marchenko told Reuters on Thursday his…
