By Tom Wilson, Gertrude Chavez-Dreyfuss and Hannah Lang LONDON/NEW YORK (Reuters) -Bitcoin recovered on Wednesday after diving to an 18-month low, buoyed by the U.S. Federal Reserve’s tough stance on inflation even in the midst of a market meltdown this week after crypto lender Celsius froze customer withdrawals. The world’s largest cryptocurrency fell as much…
By Paul Lienert (Reuters) – General Motors will invest $81 million to build its future Cadillac Celestiq electric flagship sedan at GM’s Warren Technical Center, the company said on Wednesday. The Celestiq, which will share battery cells, motors and other components with the Cadillac Lyriq, is slated to begin production in the Detroit suburb in…
By Eric M. Johnson and David Shepardson EVERETT, Wash./WASHINGTON (Reuters) -Boeing Co on Wednesday said it was making progress with regulators on its 737 MAX 10 aircraft but declined to offer a clear timeline on when it expects to win approval, in a tougher regulatory climate. Boeing has a December deadline to win approval for…
By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 rose more than 1% in choppy trading on Wednesday after a policy announcement by the Federal Reserve that raised interest rates to meet market expectations as the central bank tries to fight rising inflation without tilting the economy into a recession. The Federal Reserve raised…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks pared gains on Wednesday on the heels of a policy announcement by the Federal Reserve that raised interest rates to meet market expectations as the central bank attempts to cool rising inflation without tipping the economy into a recession. The Federal Reserve raised its target interest…
By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Reuters) – U.S. President Joe Biden on Wednesday demanded oil refining companies explain why they are not putting more gasoline on the market, sharply escalating his rhetoric against industry as he faces pressure over rising prices. Biden wrote to executives from Marathon Petroleum Corp , Valero Energy Corp…
EVERETT, Wash. (Reuters) – Boeing on Wednesday said it was making progress but declined to offer a clear timeline when it believes it can win approval for its 737 MAX 10 as it faces a tougher regulatory climate, a company executive said on Wednesday. Boeing faces a December deadline to win approval for the 737…
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Toymaker Lego on Wednesday said it will invest more than $1 billion in a factory in the United States to shorten supply chains and keep up with growing demand for its coloured plastic bricks in one of its biggest markets. The factory in Chesterfield County, Virginia, will be the…
PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Wednesday that the euro zone was “in the middle of an inflation peak” which would last until the end of the year “at least”, but added there was still a lot of uncertainty. Le Maire told Les Echos in an interview that he expects…
By Tom Wilson and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) -Bitcoin slumped on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryptocurrency fell as much as 7.8% to $20,079.72, its lowest since December 2020….
