WASHINGTON (Reuters) -High U.S. inflation may get even higher before subsiding in the face of Federal Reserve action and as supply chain strains recede, San Francisco Federal Reserve Bank President Mary Daly said on Tuesday. “We could have it be worse before it gets better but it is definitely going to get better,” Daly told…
By Adriana Barrera MEXICO CITY (Reuters) – The top U.S. business lobby in Mexico on Tuesday raised concerns about a bill that would strengthen state control of the power market at the expense of private capital, saying it would make it tougher for American companies to meet climate pledges. Mexican President Andres Manuel Lopez Obrador…
By John O’Donnell and Huw Jones FRANKFURT/LONDON (Reuters) – The European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, two people with knowledge of the matter said, as the region braces for the financial fallout of any conflict. The stand-off between Russia and Ukraine has rattled Europe’s…
SYDNEY (Reuters) – A measure of Australian consumer sentiment fell for a third month in February as higher living costs from petrol to rent undermined finances and overshadowed an easing in coronavirus cases. The Westpac-Melbourne Institute index of consumer sentiment released on Wednesday slipped 1.3% in February from January, when it dropped 2.0%. The index…
By Julie Gordon and Rod Nickel OTTAWA (Reuters) – Protests in Canada against vaccine mandates have disrupted two key U.S. border crossings, and are snarling hundreds of millions of dollars daily of trade, ranging from cattle to car parts. Demonstrations demanding an end to federal COVID-19 vaccine mandates for cross-border truck drivers began Jan. 28…
(Reuters) – Nikola Corp has imposed a temporary hiring freeze as it grapples with the departure of several senior executives in its supply-chain department over the last few months, Electrek reported on Tuesday, citing sources familiar with the matter. Matthew Jenkins, director of supply chain and purchasing; Mike Chaffins, global head of supply chain; and…
By Tina Bellon and Nivedita Balu (Reuters) -Lyft Inc closed 2021 with its first full-year adjusted profit as customers eager to step out and travel paid a record amount for trips during the fourth quarter and more drivers returned to work, the ride-hailing company said on Tuesday. Shares were down 3% in after-hours trading after…
By Tina Bellon and Nivedita Balu (Reuters) – Lyft Inc closed 2021 with its first full-year adjusted profit as customers eager to step out and travel paid a record amount for trips during the fourth quarter and more drivers returned to work, the ride-hailing company said on Tuesday. Revenue per active rider jumped 13.5% to…
By Dietrich Knauth (Reuters) -A mediator holding talks between members of the Sackler family that own Purdue Pharma and U.S. states opposed to the OxyContin-maker’s bankruptcy exit plan requested an extension of negotiations intended to resolve claims that the company fueled a U.S. opioid epidemic. The mediator asked a bankruptcy judge to extend the deadline…
By David Lawder WASHINGTON (Reuters) – U.S. goods exports to China fell in December, cementing a massive shortfall in Beijing’s two-year purchase commitments under the “Phase 1” trade deal negotiated by former President Donald Trump’s administration. The U.S. Census Bureau said on Tuesday that the United States’ 2021 goods trade deficit with China rose by…
