By Howard Schneider PRINCETON, N.J. (Reuters) -The Federal Reserve needs to move monetary policy towards a more neutral stance, but the pace at which it tightens credit will depend on how the economy reacts, New York Fed President John Williams said Saturday. Williams, in response to questions at a symposium about whether the Fed needed…
WASHINGTON (Reuters) – The Federal Reserve will need to keep a careful eye on how the economy reacts as it raises interest rates, and scale the pace of its rate increases accordingly, New York Fed President John Williams said on Saturday. Williams, citing events in 2019 when the economy slowed as the Fed approached a…
By Howard Schneider PRINCETON, N.J. (Reuters) – The Federal Reserve may begin trimming its balance sheet as soon as its May 3-4 meeting to address inflation risks that have become “particularly acute,” New York Fed chair John Williams said Saturday. With Fed rate increases underway and expected to continue, Williams, who also holds the title…
(Reuters) -Tesla Inc on Saturday reported record electric vehicle deliveries for the first quarter, but its production fell from the previous quarter as supply chain disruptions and a China plant suspension weighed. “This was an *exceptionally* difficult quarter due to supply chain interruptions & China zero Covid policy,” CEO Elon Musk tweeted. Tesla delivered 310,048…
(Reuters) -Elena Bunina is stepping down as chief executive of Yandex LLC, Russia’s biggest technology company, some two weeks before her tenure is due to expire on April 15, the company said on Saturday. “Elena Bunina is leaving (her) positions of CEO and HR director at Yandex LLC, it was her personal decision,” Yandex’s press…
(Reuters) – Elena Bunina is stepping down as director general of Yandex’s principal operating subsidiary, Yandex LLC, Russia’s biggest technology company, TASS news agency said on Saturday, before her tenure is due to expire on April 15. Artyom Savinovsky will take over as acting director general at Yandex LLC, TASS said, citing the company’s press…
CAIRO (Reuters) – Egypt’s Suez Canal recorded revenue of $1.69 billion in the first quarter of 2022, up from $1.4 billion in the same period a year prior, the canal authority said in a statement on Saturday. The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main…
SHANGHAI (Reuters) – China’s central bank said on Saturday it will further expand a pilot scheme of its digital currency to more areas, including cities in the eastern Zhejiang province which is set to host the Asian Games later this year. The People’s Bank of China (PBOC) said it will promote the research and development…
SHANGHAI (Reuters) – Organisers of the Beijing autoshow, which was scheduled to be held in late April, said on Saturday that they will postpone the event until further notice due to the COVID-19 resurgence across the country. “We will pay close attention to the development of the epidemic, and strive to enhance the event’s organisation…
SHANGHAI/BEIJING (Reuters) -China on Saturday proposed revising confidentiality rules involving offshore listings, removing a legal hurdle to Sino-U.S. cooperation on audit oversight while putting the onus on Chinese companies to protect state secretes. The draft rules, announced by China’s securities watchdog, mark Beijing’s latest attempt to resolve a long-running audit dispute with Washington that could…
