By Michael S. Derby NEW YORK (Reuters) – The New York Fed’s in-house economic forecasting model is predicting a notably brighter economic future for the U.S. relative to three months ago, the bank said Friday. The model, which the bank stresses is not an official projection of the bank but a tool for policymakers to…
By Arriana McLymore NEW YORK (Reuters) – Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn’t meet its standards. According to Amazon, Temu, an e-commerce marketplace that launched in September, does not meet its strict qualification…
By Leigh Thomas PARIS (Reuters) – One of the two pillars of a global corporate tax overhaul due to come into force next year is at risk of collapsing as plans over how to share taxing rights on the 100 biggest, most profitable multinationals fall victim to domestic U.S. politics. Nearly 140 countries are supposed…
By Howard Schneider WASHINGTON (Reuters) – Richmond Federal Reserve president Thomas Barkin said Friday he is comfortable with further interest rate increases if coming data does not show that weakening demand for goods and services is feeding through to slower inflation. “I am still looking to be convinced of the plausible story that slowing demand…
SHANGHAI (Reuters) -Tesla’s ambitious plan to boost auto production in Shanghai, its most valuable plant globally, hinges on China’s approvals to develop 70 hectares (172 acres) of former farmland that is currently overgrown with wildflowers. Once courted by Beijing to help spur the development of a domestic electric vehicle (EV) industry, Tesla may now be…
By Tim Hepher, Valerie Insinna, Joanna Plucinska and Allison Lampert PARIS (Reuters) – Global aerospace and defence companies will tout the cleaner transport and robotic weapons of the future as they also tackle urgent supply bottlenecks at next week’s Paris Airshow, taking place under the shadow of climate fears and a war economy. The world’s…
By Priyamvada C (Reuters) – FedEx may see a profit boost from cost cuts undertaken last year, although its investors will be keen on knowing whether those actions have helped it catch up with rival United Parcel Service on the margin front. The global shipping downturn has been a drag on margins for most operators…
By Nandita Bose and Trevor Hunnicutt WASHINGTON (Reuters) – Indian Prime Minister Narendra Modi will meet the CEOs of top American companies including FedEx, MasterCard and Adobe during his trip to the United States for an official state visit, a source with knowledge of the matter said. The CEO reception with more than 1,200 participants,…
By Naomi Rovnick LONDON (Reuters) – If you looked at red-hot stock markets without following central banks, you could well assume interest rates are being cut. Of course, they are not. The U.S. Federal Reserve this week paused its most aggressive interest rate rise cycle in decades, but laced the decision with a warning of…
By Howard Schneider, Balazs Koranyi and Leika Kihara WASHINGTON/FRANKFURT/TOKYO (Reuters) -Two years into confronting rising inflation, the world’s top central banks are still waiting for a decisive turn in their favor, with monetary policy edging ever tighter and policymakers maintaining their pursuit of a common 2% inflation target. The European Central Bank on Thursday raised…
