By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar fell against a basket of currencies on Wednesday after Federal Reserve Chair Jerome Powell’s comments on the central bank’s ongoing fight to lower inflation failed to live up to the more hawkish market expectations. Powell told lawmakers the fight against inflation still “has a long…
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -The Bank of Canada agreed that the need for further rate hikes would be determined by fresh economic data after it lifted rates to a 22-year high earlier this month, minutes from their policy meetings released on Wednesday showed. Analysts said the tone of the notes made…
By Leah Douglas WASHINGTON (Reuters) -Two companies, Upside Foods and Good Meat, said on Wednesday they have received final U.S. Department of Agriculture approval to sell lab-grown meat, paving the way for the nation’s first-ever sales of the product. With the approvals, the United States will become the second country after Singapore to allow the…
By Blake Brittain (Reuters) – Alphabet’s Google must pay patent holding company Personal Audio LLC $15.1 million for infringing two patents related to audio software, a Delaware federal jury said in a verdict made public on Wednesday. Personal Audio had argued that Google’s music app Google Play Music featured playlist downloading, navigation and editing features…
(This June 20 story has been refiled to spell out the name of Healthcare of Ontario Pension Plan in paragraph 5) By Chibuike Oguh NEW YORK (Reuters) – Savers Value Village said on Tuesday it aims to raise up to nearly $320 million for an initial public offering that would value the U.S. thrift store…
By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve Chair Jerome Powell on Wednesday told lawmakers that the fight against inflation still “has a long way to go” and despite a recent pause in rate hikes officials were in agreement borrowing costs would likely still need to move higher. “Inflation has moderated somewhat since the…
(Removes typo in CEO’s name in 19th paragraph) By Giulio Piovaccari MILAN (Reuters) -Pirelli investor Brembo is worried about strains between the tyremaker’s Italian and Chinese shareholders and is likely to steer clear of any plan to build an Italian majority in the company, two sources told Reuters. Last week, the Italian government intervened in…
By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve’s fight to lower inflation back to its 2% target “has a long way to go,” Federal Reserve Chair Jerome Powell said on Wednesday in testimony prepared for delivery to the House Financial Services Committee. “Inflation has moderated somewhat since the middle of last year,” with the…
By Lawrence White LONDON (Reuters) – Stocks were flat on Wednesday while bond yields rose as a lack of new stimulus from Beijing, bearish British inflation data and a slump in European real estate stoked unease ahead of testimony from U.S. Federal Reserve Chair Jerome Powell. The world’s most powerful central banker faces lawmakers in…
By Kane Wu and Selena Li HONG KONG (Reuters) – UBS will start cutting Asia investment banking jobs at Credit Suisse next month, three people with knowledge of the matter said, as the banks move towards integrating businesses. UBS completed its emergency takeover of embattled rival Credit Suisse last week, forging a Swiss banking and…
