By Steve Scherer and Ismail Shakil OTTAWA (Reuters) -Inflation in Canada remains too strong, and higher interest rates will be needed to cool the overheating economy, Bank of Canada Governor Tiff Macklem said in testimony at the House of Commons on Wednesday. “Inflation has come down in recent months, but we have yet to see…
(Reuters) – Berkshire Hathaway Inc said Warren Buffett has donated more of his fortune to four family charities, without disclosing whether the billionaire chairman made a new donation to the Bill & Melinda Gates Foundation. According to a regulatory filing, Buffett on Wednesday donated another 2.4 million of the conglomerate’s Class B shares, worth about…
OTTAWA (Reuters) – Canadian inflation remains high and broad based and more interest-rate increases will be needed to cool the overheating economy, Bank of Canada Governor Tiff Macklem said in testimony at the House of Commons on Wednesday. “Inflation has come down in recent months, but we have yet to see a generalized decline in…
By Chibuike Oguh NEW YORK (Reuters) -World equities rose while U.S. Treasury yields retreated after minutes of the Federal Reserve’s latest policy meeting showed U.S. central bankers looking to soon moderate the pace of interest rate hikes. A “substantial majority” of Fed policymakers agreed it would “likely soon be appropriate” to slow the pace of…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs in the technology sector, but that likely does not suggest a material shift in labor market conditions, which remain tight. Economists urged against reading too much into the rise…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs in the technology sector, but that likely does not suggest a material shift in labor market conditions, which remain tight. Economists urged against reading too much into the rise…
By Diane Bartz WASHINGTON (Reuters) – Top Senate Republican Chuck Grassley urged Elon Musk, who recently acquired Twitter, to conduct a threat assessment at the social company to better protect U.S. user data, following up on concerns raised by a whistleblower. Hacker Peiter “Mudge” Zatko, a whistleblower who served as Twitter’s head of security until…
By Hannah Lang (Reuters) – The U.S. Federal Reserve and Federal Deposit Insurance Corp. identified a shortcoming in Citigroup Inc’s so-called “living will” that details how the firm would be unwound in the event of bankruptcy. The banking regulators said that issues regarding Citi’s data governance program could adversely affect its ability to produce timely…
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Uniper, the largest corporate casualty of Europe’s energy crisis so far, said Berlin would need to pump as much as 25 billion euros ($25.8 billion) of additional equity into the struggling gas importer to cover losses incurred after Russia cut supplies. The amended bailout deal reflects the…
(Reuters) -Independent Franchise Partners, a major investor in News Corp and Fox Corp, opposes media mogul Rupert Murdoch’s plan to recombine the companies, the Wall Street Journal reported on Wednesday. The London-based investment firm told a special committee of News Corp’s board last month that it thinks a combination on its own would fail to…
