WASHINGTON (Reuters) – The United States on Tuesday imposed sanctions on companies it accused of being involved in the production of or transfer to Russia of Iranian drones that have been used in attacks on civilian infrastructure in Ukraine. The U.S. Treasury Department in a statement said it imposed sanctions on the Shahed Aviation Industries…
(Reuters) -Michael Barr, the Federal Reserve’s top financial regulatory official, on Tuesday said he is concerned about risks from the non-bank sector, including cryptocurrencies, for which the U.S. central bank and other regulators have poor visibility. “We’re concerned about the risks that we don’t know about in the non-bank sector,” Barr said in response to…
By Leah Douglas (Reuters) – Hormel Foods’ labeling of a meat product line as “natural” despite using the same hogs and production methods as its other brands shows the U.S. meat labeling system needs reforms, said consumer advocates and documents released on Tuesday from a lawsuit the company is close to settling. The false advertising…
By Howard Schneider WASHINGTON (Reuters) – Prices paid by U.S. businesses rose less than expected in October with some key components registering an out-and-out decline, another sign inflation may be easing and another data point in favor of a slower pace of Federal Reserve rate increases. The Producer Price Index measures inflation at the firm…
NEW YORK (Reuters) – U.S. producer prices increased less than expected in October, further evidence that inflation was starting to subside. The producer price index for final demand rose 0.2% last month, the Labor Department said on Tuesday. September was revised lower to show the PPI rebounding 0.2% instead of 0.4% and in the year…
BEIJING (Reuters) -Tesla has cut the delivery waiting time for all Model 3 and Model Y vehicles to a minimum of one week, it said on its website on Tuesday. The U.S. automaker added to its electric vehicle inventory in Shanghai at its fastest pace ever in October, data from China Merchants Bank International (CMBI)…
DETROIT (Reuters) – General Motors Co plans to add more links to its North American battery supply chain, adding to roughly 20 deals so far, in a key strategy to help the Detroit automaker narrow the gap with Tesla Inc in electric vehicle profitability. GM Chief Executive Mary Barra and other executives are scheduled to…
(Reuters) -Walmart Inc on Tuesday forecast a smaller fall in annual profit as demand for groceries holds up despite higher prices, while discounts on clothing and electronics attract more inflation-hit shoppers to the top U.S. retailer’s stores. The company also raised its full-year net sales expectations and announced a new $20 billion share buyback plan,…
(Reuters) -Home Depot Inc beat analysts’ estimates for quarterly same-store sales on Tuesday, helped by higher prices and steady demand for home improvement tools from professional builders. The company’s shares were up 2.3% in premarket trading. With mortgage rates more than doubling since the beginning of the year, customers are sticking to their current lower-mortgage…
(Reuters) – Tencent Music Entertainment Corp reported a 5.6% fall in quarterly revenue on Tuesday, as weak advertising and paying user growth hurt the Chinese audio streaming platform. Total revenue fell to $7.37 billion yuan ($7.37 billion) in the quarter ended Sept. 30 from $7.81 billion yuan a year earlier, compared with analysts’ average estimate…
