By Andrew Goudsward (Reuters) – Vice President Kamala Harris broke a deadlock in the U.S. Senate on Wednesday to secure confirmation for a civil rights lawyer nominated to be a federal judge in New York. Natasha Merle, who works on litigation for the NAACP Legal Defense and Educational Fund, was confirmed to the U.S. District…
By Caroline Valetkevitch NEW YORK (Reuters) – Global stock indexes fell on Wednesday as Federal Reserve Chair Jerome Powell said the fight to lower inflation still has a “long way” to go, while grains prices jumped on worries about crop shortfalls around the globe. The U.S. dollar was lower and Treasury yields were little changed….
(Reuters) – Book publisher Simon & Schuster has received a buyout bid from investor Richard Hurowitz, with backing from Abu Dhabi sovereign investor Mubadala Investment Company, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Reuters had in February reported that Paramount Global, the owner of Simon & Schuster, was making…
By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve should not raise interest rates further or it would risk “needlessly” sapping the strength of the U.S. economy, Atlanta Federal Reserve President Raphael Bostic said on Wednesday in written remarks and a subsequent interview arguing officials need to wait longer for the impact of previous rate…
By Jody Godoy (Reuters) – Former Goldman Sachs banker Brijesh Goel’s trial on insider trading charges drew to a close on Tuesday, with his attorney saying he was framed by his friend and a prosecutor saying Goel had lied to a New York jury. Goel, a former Goldman Sachs vice president, faces securities fraud, conspiracy…
By Patrick Wingrove NEW YORK (Reuters) -The Pharmaceutical Research and Manufacturers of America (PhRMA), the leading industry lobby group, and two other organizations on Wednesday said they were suing the U.S. government to block enforcement of a program that gives Medicare the power to negotiate drug prices. In a complaint filed in a federal court…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar fell against a basket of currencies on Wednesday after Federal Reserve Chair Jerome Powell’s comments on the central bank’s ongoing fight to lower inflation failed to live up to the more hawkish market expectations. Powell told lawmakers the fight against inflation still “has a long…
By Michael S. Derby (Reuters) – Two Federal Reserve officials and a labor economist who aspires to join their ranks told U.S. senators on Wednesday that they will set policy based on data and the central bank’s official mandates, pushing back against some Republicans who suggested they might put personal politics first. When setting policy…
By Simon Jessop LONDON (Reuters) – Payments company Mastercard on Wednesday launched a global project to recycle credit and debit cards as part of a plan to save the billions of cards in circulation across the industry from landfill. Initially partnering with British lender HSBC Holdings Plc in eight branches in Britain, Mastercard said banks…
By Daina Beth Solomon MEXICO CITY (Reuters) – Grupo Mexico said Wednesday it legally resumed operations at its San Martin mine in 2018 after a decade-long strike, countering a Mexican union that recently submitted a petition to U.S. labor officials over alleged worker rights violations. The U.S. government last week asked Mexico to investigate the…
