(Reuters) – The Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market. Policymakers see the Fed’s benchmark rate falling by…
By Andrew Hay (Reuters) – Wildfires around Los Angeles have burned rapidly in the past week after vegetation growth and record heat blamed on climate change, and Southern California blazes could get worse once seasonal winds start, according to climate scientists. Three blazes in mountains around the second-largest U.S. city have destroyed more than 230…
By Andrea Shalal and Stephanie Kelly PHILADELPHIA (Reuters) -U.S. Democratic presidential candidate Kamala Harris called on Tuesday for an end to the Israel-Gaza war and said that Israel must not reoccupy the Palestinian enclave once the nearly year-old conflict comes to an end. Speaking in Philadelphia to the National Association of Black Journalists, she called…
(Reuters) -JPMorgan Chase is in talks with Apple about replacing Goldman Sachs as the tech giant’s credit-card partner, a source familiar with the matter said on Tuesday. The discussions started earlier this year and have advanced in recent weeks, but any potential deal could still be months away, said the source, who asked not to…
(Reuters) -Elon Musk’s brain-chip startup Neuralink said on Tuesday its implant aimed at restoring vision received the U.S. Food and Drug Administration’s “breakthrough device” designation. The FDA’s breakthrough tag is given to certain medical devices that provide treatment or diagnosis of life-threatening conditions. It is aimed at speeding up development and review of experimental devices….
(Reuters) – Several oil companies including Exxon Mobil and Chevron on Monday defeated an appeal by consumers who accused them of colluding with former President Donald Trump’s administration, Russia and Saudi Arabia to cut oil production, boosting prices at the pump. The 9th U.S. Circuit Court of Appeals in San Francisco said the consumers’ claims…
NEW YORK (Reuters) – The Federal Reserve will likely not cut U.S. interest rates as deeply as the bond market expects due to a resilient economy and inflation remaining sticky, the BlackRock Investment Institute said in a note on Monday. The U.S. central bank is expected to cut interest rates for the first time in…
By David Shepardson WASHINGTON (Reuters) – The 1.3 million-member Teamsters union could decide who to endorse in the 2024 U.S. presidential election as early as Wednesday after members met Democratic candidate Kamala Harris on Monday, Teamsters President Sean O’Brien said. Union representatives met her Republican rival Donald Trump in January. “We can’t kick this can…
WASHINGTON (Reuters) – Boeing is pausing hiring and taking sweeping steps to conserve cash after about 33,000 workers went on strike on Friday including considering temporary furloughs for many employees, managers and executives in the coming weeks. Boeing Chief Financial Officer Brian West said the “strike jeopardizes our recovery in a significant way and we…
By David Lawder (Reuters) -The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to boost protections for strategic industries from China’s state-driven industrial practices. The U.S. Trade Representative’s office said that many of the tariffs, including a 100% duty on Chinese EVs, 50% on…
