By Ann Saphir (Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday said that with high inflation that’s not abating and a labor market on a tear by nearly all measures, raising interest rates in March makes sense. “I don’t want to put a stake in the ground and say, definitely March,”…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Thursday urged domestic investors to snap up the consumer banking arm of Citigroup in his country after it went on sale this week. “We can turn it into something very good, if, without authoritarian measures, it’s possible to Mexicanize this bank,” Lopez Obrador said…
By Lewis Krauskopf NEW YORK (Reuters) – Shares of U.S. energy companies are soaring in the early days of 2022, driven by a shift to so-called value stocks and assets that stand to benefit from the steepest inflation in nearly four decades. The energy sector is up over 14% this year, against a 0.8% drop…
By Laura Sanicola (Reuters) – Microsoft is investing $50 million in a LanzaJet facility in Georgia that will produce jet fuel from ethanol next year, LanzaJet said. The airline industry is considered one of the hardest to decarbonize. Renewable aviation fuel accounted for less than 0.1% of current global jet fuel demand of about 330…
By Rajesh Kumar Singh CHICAGO (Reuters) – Delta Air Lines Inc on Thursday reported higher quarterly earnings on the back of strong holiday travel demand and predicted a swift recovery from turbulence caused by the Omicron coronavirus variant, driving its shares higher. The company said surging COVID-19 cases will likely result in losses in January…
By Lindsay Dunsmuir and Ann Saphir (Reuters) – As continued high inflation eats further into Americans’ pocketbooks, Federal Reserve Governor Lael Brainard on Thursday became the latest, and most senior, U.S. central banker to signal that the Fed is getting ready to start raising interest rates in March. “The committee has projected several hikes over…
(Reuters) – Gap Inc on Thursday launched non-fungible tokens (NFTs) of its iconic hoodies, sending the apparel maker’s shares about 5% higher as it became the latest major retailer to dive into the world of speculative crypto assets. The more than 50-year-old company’s push to sell virtual assets for real money follows similar moves by…
By Koh Gui Qing NEW YORK (Reuters) – Nervous global stock markets floundered on Thursday as bond yields steadied and the dollar wilted, after the highest U.S. inflation reading in nearly 40 years kept concerns about price pressures and monetary policy risks alive. Indeed, data released on Thursday that pointed to rapidly tightening U.S. labor…
MADRID (Reuters) – Spanish billionaire and Zara founder Amancio Ortega has agreed to buy a landmark Canadian skyscraper for around 800 million euros ($916.88 million), according to his private office. Pontegadea, the family office of the main shareholder of fashion group Inditex, on Thursday confirmed the deal to buy Toronto’s Royal Bank Plaza, which was…
(This Jan 6. story corrects second paragraph to reflect that Ultra Cruise will work for 95% of driving scenarios, not 95% of roads) By Stephen Nellis (Reuters) – General Motors on Thursday said a trio of chips from Qualcomm Inc will power the “Ultra Cruise” driver-assistance feature on a luxury Cadillac sedan next year. The…
