By Howard Schneider NEW YORK (Reuters) – With central banks ratcheting up their response to a global inflation shock, debate is shifting from when they’ll win the war to whether faster rising prices are here to stay in a supply-constrained world. The risks of an emerging era of high-inflation have been sketched out by top…
By David Lawder WASHINGTON (Reuters) -The world’s poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said on Thursday, warning that the increased burden is increasing the risk of defaults. Malpass told the Reuters NEXT conference in…
By Helen Coster (Reuters) -The parent company of social media platform Parler and American rapper Kanye West, who now goes by Ye, have agreed to terminate the intent of the sale of Parler, according to a statement from Parlement Technologies on Thursday. “This decision was made in the interest of both parties in mid-November,” the…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian markets close the week on a solid footing, which is how they may well round off the year if financial conditions – global and local – remain as supportive as they are right now. The dramatic reaction…
By Diane Bartz WASHINGTON (Reuters) – The attorneys general of California, Illinois and Washington D.C. asked a federal court on Thursday for a preliminary injunction that would prevent Albertsons Companies Inc, which is being purchased by rival Kroger Co, from paying a $4 billion dividend to shareholders. The state officials said in a court filing…
(Reuters) – The Federal Reserve Bank of Chicago’s board of directors hired Austan Goolsbee, a University of Chicago Booth School of Business economist and former White House economic advisor, to lead the bank when longtime President Charles Evans exits in January under the central bank’s age-based mandatory retirement rules. (Reporting by Ann Saphir; Editing by…
(Reuters) – Wells Fargo & Co has cut hundreds of jobs in its mortgage business across the country, Bloomberg News reported on Thursday citing people familiar with the bank’s plans. Higher inflation and rapidly rising mortgage rates have started to weigh on the housing market as buying homes becomes costlier, hitting what was until last…
By Paresh Dave OAKLAND, Calif. (Reuters) – Meta Platforms Inc unlawfully steered dozens of hiring ads from trucking companies and other advertisers to mostly one gender or age group, an advocacy group for female truckers alleged in a U.S. complaint on Thursday, citing the social media giant’s own data. In June, Meta said it planned…
SHANGHAI (Reuters) -Tesla Inc will issue software updates for more than 435,000 vehicles in China to fix an issue with side marker lights that could in extreme circumstances lead to a collision, a regulatory body said. The fix, which counts as a recall, will be issued by an over-the-air update. It covers 142,277 Model 3…
(Reuters) -Blackstone Inc will sell its 49.9% stake in the joint venture that owns the MGM Grand Las Vegas and Mandalay Bay resorts to co-owner VICI Properties Inc for about $1.27 billion in cash, the companies said on Thursday. The deal includes the assumption of Blackstone Real Estate Investment Trust’s (BREIT) existing property-level debt that…
