(Reuters) – U.S. Senate leader Chuck Schumer is expected to call on Tuesday for a procedural vote on Federal Reserve nominee Lisa Cook that would clear the way for a possible vote on her confirmation later in the day. Cook’s nomination stalled last month after Republicans uniformly opposed her as too “partisan” and COVID-19 kept…
By Sinead Cruise LONDON (Reuters) -Citigroup is overhauling the leadership of one of the teams linked to a ‘flash crash’ that sent European stock markets tumbling this month, three sources told Reuters. Citi is looking to name a new Head of Forward Trading in its Delta One operations based at its European headquarters in London,…
FRANKFURT (Reuters) – Germany’s largest airport operator Fraport said on Tuesday it expects to be able to compensate for rising inflation by passing costs to customers even as it sees higher consumer prices over the next couple of years. “We have this, so to say, perfect inflation protection as we collect share of the revenue…
(Reuters) – The U.S. Federal Reserve can assess how much more it needs to do to bring inflation back down to its 2% goal when it has raised borrowing costs to a neutral level, Richmond Fed President Thomas Barkin said on Tuesday. “Once we get in the range of the neutral rate, we can then…
By Rowena Edwards LONDON (Reuters) – Oil prices fell in volatile trade on Tuesday as the market balanced impending European Union sanctions on Russian oil with demand concerns related to coronavirus lockdowns in China, a strong dollar and growing recession risks. Brent crude was down 69 cents, or 0.6%, at $105.25 a barrel at 1233…
HONG KONG (Reuters) – China Eastern Airlines Corp plans to raise up to 15 billion yuan ($2.23 billion) in a share sale to expand its fleet and to replenish working capital, the company said in a filing to the Shanghai stock exchange on Tuesday. The Chinese airline will use 10.5 billion yuan of the proceeds…
By Joice Alves LONDON (Reuters) – Commodity currencies Norwegian crown and the Australian dollar recovered some ground on Tuesday after hitting their lowest levels in nearly two years against the U.S. dollar, tracking a rebound in European and Chinese stock markets. But traders said sentiment remained fragile and was keeping the safe haven dollar near…
By Anna Ringstrom and Marie Mannes STOCKHOLM (Reuters) -Shares in Swedish Match soared on Tuesday after U.S. rival Philip Morris International Inc said it was in talks to buy the Stockholm-based tobacco products company, betting on a growing market for alternatives to cigarettes. The two companies issued separate statements after the Stockholm bourse closed on…
MILAN (Reuters) – The automotive industry faces a shortage of batteries and raw materials in the coming years as part of its transition towards electric mobility, the head of Stellantis Carlos Tavares said on Tuesday. Speaking at the FT Future of the Car 2022 conference, Tavares said he could anticipate the industry could suffer supply…
By Timothy Aeppel (Reuters) – U.S. manufacturers are finding that their main weapon to fight supply chain snarls is greater inefficiency. Industrial companies reporting earnings over the past few weeks have described steps they’ve taken – from acquiring trucks to move their own goods to building products that sit around on factory floors waiting for…
