By Pete Schroeder WASHINGTON (Reuters) -Sarah Bloom Raskin, President Joe Biden’s pick to lead the Federal Reserve’s regulatory work, told U.S. lawmakers on Thursday that she believes banks need strict oversight, but that it is not her job to tell them how and where to lend. Raskin tried to make the case for her confirmation…
ZURICH (Reuters) – Siemens is ramping up its spending on research and development above its rivals, Chief Executive Roland Busch will tell the German engineering group’s shareholders next week. The maker of trains and factory automation software will spend 5.5 billion euros ($6.21 billion) developing new products and services this year, Busch will say, according…
(Reuters) -Honeywell International Inc reported lower-than-expected quarterly sales on Thursday, hit by supply chain challenges at its aerospace segment and a fall in demand for masks. The company, whose shares fell 2.7% before the bell, reported a decline in sales in three out of its four segments, with its Safety and Productivity Solutions unit —…
FRANKFURT, Feb 3 (Reuters) – Following is the statement from the European Central Bank following its policy meeting. The Governing Council confirmed the decisions taken at its monetary policy meeting last December. Pandemic emergency purchase programme (PEPP) In the first quarter of 2022, the Governing Council is conducting net asset purchases under the PEPP at…
By Andy, Bruce, and, David and Milliken LONDON, Feb 3 (Reuters) – The Bank of England raised interest rates to 0.5% on Thursday and nearly half of its policymakers wanted a bigger increase to contain rampant price pressures, as the central bank warned inflation will soon top 7%. In a surprise split decision, four of…
(Reuters) – Hershey Co reported quarterly sales that beat Wall Street estimates on Thursday, as the Kit Kat maker benefited from price increases and strong demand for its chocolates and candies. Net sales rose to $2.33 billion in the fourth quarter from $2.19 billion a year earlier, compared with estimates of $2.27 billion, according to…
By Jonnelle Marte and Aleksandra Michalska (Reuters) – Gina Marino quit two jobs last year. In the summer, she left a position at a small social media marketing agency for a bigger firm offering more money and greater responsibility. Three months later, despite liking her colleagues and the company but realizing she lacked passion for…
(Reuters) – Nasdaq 100 futures fell nearly 2% on Thursday as Facebook owner Meta Platforms’ disappointing forecast triggered a slump in other social media companies and threatened to upend a nascent recovery in stock markets. Meta tumbled 19.4% in premarket trading, as it posted a decline in global daily active users from the previous quarter…
(Corrects story published Jan. 27 to show in paragraph 4 that the gap between three- and six-month yields is at steepest since 2018, not 2015) A look at the day ahead from Sujata Rao. The world’s largest economy is predicted to https://www.reuters.com/world/us/us-economy-likely-regained-steam-q4-2021-growth-seen-best-37-years-2022-01-27record GDP growth at a 37-year high of 5.5%, with data due later on…
(This Feb 2 story adds dropped word “tech” in headline) By Katanga Johnson WASHINGTON (Reuters) – Global stocks rallied on Wednesday to close higher as strong earnings from U.S. technology companies and OPEC+ plans for moderate oil output helped to counter jitters over weak economic reports. Investors also shrugged off the pace of central banks’…