By David Lawder and David Shepardson WASHINGTON (Reuters) -The United States and Britain on Wednesday agreed to start talks aimed at resolving their trade dispute over U.S. steel and aluminum tariffs, the countries said in a joint statement. No specific date or timeline was given for the talks but discussions will address “global steel and…
By Indradip Ghosh and Prerana Bhat BENGALURU (Reuters) – The U.S. Federal Reserve will tighten monetary policy at a much faster pace than thought a month ago to tame persistently high inflation, now viewed by economists polled by Reuters as the biggest threat to the U.S. economy over the coming year. Encouraged by apparent lower…
WASHINGTON (Reuters) -U.S. President Joe Biden on Wednesday said it was appropriate for the Federal Reserve to recalibrate the support it provides to the U.S. economy, in light of fast-rising prices and the strength of recovery. “Given the strength of our economy and recent price increases, it’s appropriate, as … Fed Chairman (Jerome) Powell has…
(Reuters) -Kinder Morgan beat Wall Street expectations for fourth-quarter profit on Wednesday, as the U.S. pipeline operator transported higher volumes of gasoline and jet fuel with demand rising as people resumed travel and business activity picked up. Global jet fuel demand, however, has again come under pressure with some countries reimposing border restrictions and other…
By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Wednesday reported a narrower-than-expected fourth-quarter loss, helped by strong holiday travel demand. The Chicago-based carrier expects revenue in the quarter through March will recover to 75% to 80% of 2019 levels as turbulence caused by the Omicron coronavirus variant depresses near-term demand. However, bookings for…
By Katanga Johnson WASHINGTON (Reuters) – As the U.S. securities regulator wraps up a draft of a landmark new climate change rule, environmental campaigners and activist investors want it to require companies to disclose not only their own greenhouse gas emissions but those generated by their suppliers and other partners. Corporate groups, meanwhile, are pushing…
By Lewis Krauskopf, Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) – Wall Street’s main indexes fell on Wednesday, with the tech-heavy Nasdaq confirming a correction, after a diverse set of corporate earnings and as investors continued to worry about higher U.S. Treasury yields and the Federal Reserve tightening monetary policy. The Nasdaq ended down over…
(Reuters) – The story headlined, “Wall Street selloff deepens, Nasdaq confirms correction,” was issued inadvertently ahead of the market closing. A replacement story will be issued shortly after the market closes at 4 pm ET (2100 GMT).
By Abhijith Ganapavaram and Nathan Gomes (Reuters) – North American railroad operators are expected to reveal a dour picture when they report fourth-quarter results as lower freight volumes due to port congestion, labor shortages and adverse weather dampen gains from higher shipment prices. The COVID-19 pandemic knocked volumes shipped, but the companies were able to…
