By Kanishka Singh WASHINGTON (Reuters) -A U.S. House of Representatives committee said on Thursday that it was investigating the Saudi Arabian government’s $2 billion investment with a firm of Jared Kushner, the son-in-law of former President Donald Trump. “The Committee on Oversight and Reform is investigating whether you (Kushner) have improperly traded on your government…
By Laura Sanicola (Reuters) -Oil rose more than 1% on Thursday after U.S. crude inventories fell more than expected amid high demand for fuel, shrugging off OPEC+’s agreement to boost crude output to compensate for a drop in Russian production. Prices were also supported by the European Union’s sixth package of sanctions against Russia, which…
(Reuters) – Nikola Corp’s founder Trevor Milton voted against the electric vehicle company’s proposal to issue new shares at the company’s annual general meeting, a Bloomberg News report on Thursday, citing sources. Milton’s vote, which threw the outcome into doubt, led to the decision to immediately adjourn the meeting, in order to allow the company…
(Reuters) – The Federal Reserve is likely to continue tightening monetary policy beyond the half percentage point interest rate hikes expected at each of its next two meetings, two policymakers signaled on Thursday, with the only question being how much. “Market pricing for 50 basis points potentially in June and July, from the data we…
By Carolina Mandl and Elizabeth Dilts Marshall NEW YORK (Reuters) -Goldman Sachs’ President and Chief Operating Officer John Waldron said on Thursday the current economic turmoil is one of the most challenging ones he has ever faced in his career. “This is among if not the most complex, dynamic environment I’ve ever seen in my…
(Reuters) – U.S. employers in the technology sector cut nearly nine times more jobs in May than in the first four months of the year as rising inflation and slowing demand force companies to cut corners. Though overall layoffs in the country reported by global outplacement firm Challenger, Gray & Christmas on Thursday fell 14.7%…
By Trevor Hunnicutt WASHINGTON (Reuters) -The White House is considering proposals that would tax oil and gas windfall profits in order to provide a benefit to consumers struggling with higher energy prices, a U.S. official said on Thursday. Bharat Ramamurti, the deputy director of President Joe Biden’s National Economic Council, said the administration has been…
(Reuters) – McDonald’s Corp will have an option to buy its restaurants in Russia back within 15 years, Russia’s anti-monopoly service said in a statement on Thursday. The service approved a deal in which the fast-food company sold the restaurants to one of its local licensees – Alexander Govor, who will rebrand them, ending more…
By Susan Mathew and Bansari Mayur Kamdar (Reuters) -European shares bounced on Thursday, led by industrial and luxury names, with gains limited by lingering worries over slowing economic growth and rising prices. The pan-European STOXX 600 index rose 0.6% after losing nearly 2% over the last two sessions. Volumes are expected to be subdued as…
By Simon Lewis and Doina Chiacu WASHINGTON (Reuters) -The Biden administration on Thursday issued a raft of new sanctions aimed a punishing Russia for its invasion of Ukraine, with targets including several yachts linked to Russian President Vladimir Putin, an oligarch who heads a major steel producer, and a cellist it says acts as a…
