By Helen Coster and Dawn Chmielewski (Reuters) – CNN President Jeff Zucker, whom industry insiders speculated would play a larger role when the network becomes part of Discovery, resigned on Wednesday, telling staff he failed to disclose a consensual relationship with a colleague. Zucker, 56, said in a memo that his relationship came to light…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar declined to a more than a one-week low on Wednesday after data showed a drop in U.S. private sector employment in January due to the increase in COVID-19 infections. However, the data is unlikely to prevent the Federal Reserve from hiking interest rates at the March…
By David Gaffen NEW YORK (Reuters) – Oil prices edged up on Wednesday after OPEC+ stuck to planned moderate output increases despite pressure from top consumers to raise output more quickly. Brent crude ended settling up 31 cents to $89.47 a barrel, while U.S. West Texas Intermediate crude gained 6 cents to $88.26 a barrel….
By David Shepardson and Patricia Zengerle WASHINGTON (Reuters) – The U.S. House of Representatives on Wednesday advanced a multibillion-dollar bill aimed at increasing American competitiveness with China and boosting U.S. semiconductor manufacturing, teeing up the legislation for full approval by the chamber this week. Democratic President Joe Biden’s administration has been working to persuade Congress…
SAO PAULO (Reuters) – Volvo’s Brazilian unit announced on Wednesday that it will invest 1.5 billion reais ($283.36 million) in the country by 2025, after reporting record truck sales last year. The figure will be directed mainly to research and development of products and services, said the Swedish company. In 2021, Volvo sold 21,800 trucks…
(Adds full name and title of strategist) NEW YORK (Reuters) -A U.S. Treasuries yield curve inversion this time around may not be the perfect predictor of a recession, a Credit Suisse strategist said on Wednesday, as the Federal Reserve’s focus on reducing inflation could take priority over economic growth concerns. Reflecting the U.S. central bank’s…
By Tatiana Bautzer and Carolina Mandl SAO PAULO (Reuters) – Brazil’s economic downturn may represent an opportunity for Latin America’s newest listed lender to gain market share aggressively despite the riskier environment, the founder and CEO of digital bank Nubank, David Velez, said. The fintech debuted on the New York Stock Exchange less than two…
By Katanga Johnson WASHINGTON (Reuters) -Global stocks staged a recovery on Wednesday as strong earnings from U.S. technology companies and OPEC+ plans for moderate oil output helped to counter jitters over the pace of central banks’ interest rate hikes. The STOXX index of 600 European companies rose 0.45%, up for a third straight session, to…
By Gertrude Chavez-Dreyfuss and Joice Alves NEW YORK/LONDON (Reuters) -The dollar slid to more than a one-week low on Wednesday as data showed a drop in U.S. private sector employment in January due to the increase in COVID-19 infections, easing expectations the Federal Reserve would announce a large interest rate increase at its policy meeting…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. private payrolls fell for the first time in a year in January as soaring COVID-19 infections disrupted business operations, raising the risk of a sharp decline in employment that would deal a temporary setback to the labor market. Private payrolls decreased by 301,000 jobs last month after increasing by…