By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Trade Commission on Thursday argued in federal court for a preliminary injunction to temporarily block Microsoft’s acquisition of videogame maker Activision Blizzard, stopping the deal from closing before the government’s case against it is heard. “If this deal is completed, the combined company … is likely to…
By David Milliken and Suban Abdulla LONDON (Reuters) -The Bank of England surprised many investors by raising interest rates half a percentage point on Thursday, saying there had been “significant” news suggesting Britain’s persistently high inflation would take even longer to fall. The BoE’s Monetary Policy Committee (MPC) voted 7-2 to raise its main interest…
(Corrects attribution in seventh paragraph) By Stephanie Kelly and Nia Williams NEW YORK (Reuters) -U.S. crude oil inventories at the Cushing, Oklahoma, storage hub have risen to their highest in two years, as outages at Midwestern refiners crimp demand and higher flows from Canada add to supply. Stockpiles at Cushing, the delivery point for U.S….
By Shadia Nasralla LONDON (Reuters) -Oil futures fell on Thursday, with trader concern over the impact of a bigger-than-expected Bank of England rate hike outweighing potentially bullish U.S. oil inventory data after preliminary figures showed a fall in stocks. Brent futures dropped by $2.22, or 2.9%, to $74.90 a barrel by 1336 GMT and U.S….
(Reuters) – The number of people filing for state unemployment benefits for the first time held steady at a 20-month high last week, remaining elevated for a third straight week in what may be an early indication of a softening labor market in the face of the Federal Reserve’s aggressive credit tightening. Data from the…
By John Revill ZURICH (Reuters) -The Swiss National Bank raised its policy interest rate by 25 basis points on Thursday as the central bank pressed ahead with its campaign to dampen stubborn inflation and signalled that more tightening was likely to come. Chairman Thomas Jordan pointed to rising inflationary pressures and the danger of price…
(Reuters) – General Electric said on Thursday it has signed a memorandum of understanding with India’s state-owned Hindustan Aeronautics Ltd to make fighter jet engines for the Indian Air Force. The development comes at a time when Indian Prime Minister Narendra Modi is on an official state visit to the United States. The memorandum of…
By Valerie Insinna and Abinaya V PARIS (Reuters) -Spirit AeroSystems on Thursday will suspend factory production at its plant in Wichita, Kansas, the company said, after workers rejected a proposed four-year deal and announced a strike to begin on June 24. Spirit is one of the most consequential suppliers for aerospace heavyweights Boeing and Airbus,…
PARIS (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday the World Bank should add disaster clauses to debt agreements with poorer countries, speaking ahead of a summit in Paris that will discuss how to boost crisis financing for low-income nations. Such clauses could be part of a broader reform of the World Bank to…
By Jeslyn Lerh SINGAPORE (Reuters) -Oil futures dipped on Thursday amid demand fears after the Federal Reserve chairman hinted at further interest rate hikes, while traders awaited official U.S. inventory data following an industry report that showed an unexpected draw in crude stocks. Brent futures fell 22 cents, or 0.3%, to $76.90 a barrel at…
