By Jonnelle Marte (Reuters) – Russia’s invasion of Ukraine adds uncertainty to the U.S. economic outlook and may boost near-term inflation, but household savings and strong economic growth should help limit the damage, New York Federal Reserve Bank President John Williams said on Thursday. Higher oil prices stemming from the crisis may act like a…
By Kantaro Komiya TOKYO (Reuters) – Japan’s jobless rate rose to 2.8% and a gauge of job availability grew to a 21-month-high in January, government data showed on Friday. The mixed data came as firms in the world’s third-largest economy conclude annual labour talks, while downside pressures from record coronavirus tolls and the Ukraine crisis…
(Reuters) – Costco Wholesale Corp beat Wall Street estimates for quarterly revenue and profit on Thursday, as consumers returning to its stores bought more groceries and splurged on high-margin items such as jewelry and home furnishing goods. Sales at Costco, which relies heavily on customers seeking a treasure-hunt shopping experience at its cavernous warehouses, have…
By Timothy Gardner WASHINGTON (Reuters) – A bipartisan group of U.S. senators introduced a bill on Thursday to ban U.S. imports of Russian oil, saying the shipments could be replaced by boosting output in North America and other places. The bill, Banning Russian Energy Imports Act, is intended to punish President Vladimir Putin over his…
By Tom Polansek CHICAGO (Reuters) – Carl Icahn is broadening a push to get McDonald’s Corp to improve suppliers’ treatment of pigs raised for bacon and sausage. The billionaire activist investor, who has described himself as an animal lover, on Thursday called on the burger chain to make a global pledge to eliminate the use…
By Kylie Madry MEXICO CITY (Reuters) – Citibanamex is spending 1.4 billion pesos ($67.8 million) to remodel more than 1,200 branches in Mexico with plans to expand, a top executive said on Thursday. The bank, one of Mexico’s largest, has already begun the expansion, and plans to open 50 branches in the first half of…
(Reuters) – Membership-only retail chain Costco Wholesale Corp beat Wall Street expectations for quarterly revenue on Thursday, as consumers returning to its stores splurged on high-margin items such as jewelry and home furnishing goods. Sales at Costco, which relies heavily on customers seeking a treasure-hunt shopping experience at its cavernous warehouses, have benefited from consumers…
By Anna Ringstrom, Gwladys Fouche and Eric M. Johnson (Reuters) – Sneaker maker Nike and home furnishings firm IKEA shut down stores in Russia on Thursday, as trade restrictions and supply shutdowns added to political pressure for companies to stop business in Russia because of its invasion of Ukraine. French bank Societe Generale said it…
By Herbert Lash and Tommy Wilkes NEW YORK/LONDON (Reuters) – Oil prices initially soared on Thursday as the Ukraine war sparked a run on commodities that raised fears of “stagflation,” while equity markets mostly fell as investors hope the Federal Reserve cautiously move to tighten monetary policy. The fresh surge in energy prices heightened worries…
By Akash Sriram and Hyunjoo Jin (Reuters) – Rivian Automotive Inc has rolled back price hikes on electric vehicles booked before March 1 after facing backlash from customers following a 20% increase in prices. Preorders as of March 1 will not be subject to the new prices, and customers who canceled orders can reinstate them…
