By Dave Sherwood and Matt Spetalnick BEJUCAL, Cuba (Reuters) – Just outside the sleepy Cuban village of Bejucal, a winding track, rutted with potholes and losing ground to the jungle, ends at a barbed wire fence. A sign warns: “KEEP OUT, MILITARY ZONE.” What lies beyond remains largely a mystery, though the U.S. government has…
By Chavi Mehta and Aditya Soni (Reuters) – Tesla’s record 13-day streak of gains finally came to an end on Wednesday, as the stock closed down just a smidgen after a stretch that saw the U.S. automaker add more than $200 billion to its value. During the streak, Tesla shares rose by more than 40%,…
(Reuters) – Bitcoin dropped 3.65% to $24,987 at 2103 GMT on Wednesday, losing $947 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 19.5% from the year’s high of $31,035 on April 14. Ether, the coin linked to the Ethereum blockchain network, dropped 5.36% to $1,646.1, losing $93.3 from its previous…
By Michael S. Derby WASHINGTON (Reuters) – Federal Reserve Chairman Jerome Powell said on Wednesday that financial conditions are likely to allow the central bank to press forward with the drawdown of its massive balance sheet through the remainder of the year. As the Treasury moves toward selling massive amounts of debt to rebuild its…
By Sinéad Carew (Reuters) – MSCI’s global equity index closed slightly higher on Wednesday after a volatile afternoon while the dollar cut its losses after the U.S. Federal Reserve paused interest rate hikes as was widely expected but signalled that it could raise rates by another half percentage point by year-end. The central bank issued…
By Moira Warburton WASHINGTON (Reuters) – The U.S. House of Representatives on Wednesday rejected a Republican effort to censure Representative Adam Schiff, a Democrat who played a leading role in the first impeachment of then-President Donald Trump in 2019. The Republican-controlled chamber defeated the motion by a vote of 225 to 196, with 20 Republicans…
By David Shepardson WASHINGTON (Reuters) -A U.S. House of Representatives committee on Wednesday narrowly voted to raise the mandatory commercial pilot retirement age to 67 from 65. Members of the House Transportation and Infrastructure Committee voted 32 to 31 for the pilot age amendment to a proposed five-year bill to reauthorize the Federal Aviation Administration…
By David Shepardson WASHINGTON (Reuters) -U.S. President Joe Biden on Wednesday vetoed a measure approved by Congress that would overturn his administration’s sharp new limits on emissions from heavy-duty trucks responsible for significant soot and smog. The veto preserves Environmental Protection Agency (EPA) rules will “make our air cleaner and prevent thousands of premature deaths…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar slid on Wednesday after the Federal Reserve held interest rates steady, as expected, but signaled that borrowing costs will increase by another 50 basis points (bps) by end-December. The dollar index was last down 0.3% at 103.01 after hitting a four-week low of 102.66 in…
By Blake Brittain (Reuters) – A U.S. Patent Office tribunal ruled for Intel Corp on Tuesday on the chipmaking giant’s bid to invalidate a patent that represented $1.5 billion of a $2.18 billion verdict it lost to VLSI Technology LLC in 2021. The Patent Trial and Appeal Board invalidated the computer chip-related patent after canceling…
