By David Shepardson WASHINGTON (Reuters) -The top Republican on a U.S. Senate panel whose party rejected President Joe Biden’s nominee to head the Federal Aviation Administration (FAA), on Tuesday urged Biden to pick a new nominee, saying the delay puts passengers at risk. The FAA has been without a permanent administrator since April 2022. Biden’s…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to a three-week low on Tuesday on news of the smallest annual increase in inflation last month in more than two years, cementing expectations that the Federal Reserve will pause interest rate hikes at its two-day meeting ending on Wednesday. The dollar index slid as…
By Herbert Lash NEW YORK (Reuters) – Global shares rallied and the dollar eased on Tuesday after U.S. consumer price data showed inflation barely rose in May, increasing expectations the Federal Reserve will pause hiking interest rates when it concludes a two-day meeting on Wednesday. The annual increase in the consumer price index was the…
WASHINGTON (Reuters) – Three guests at the White House’s Pride party on Saturday have been banned from future events after going topless on the South Lawn, press secretary Karine Jean-Pierre said Tuesday. “The behavior was simply unacceptable. We’ve been very clear about that. It was unfair to the hundreds of attendees who were there to…
By Manya Saini and Chibuike Oguh (Reuters) -Shares of U.S. banks rose on Tuesday after a smaller-than-expected rise in inflation data indicated that the Federal Reserve is likely to keep interest rates unchanged this week, while Wells Fargo’s net interest income outlook also boosted investor optimism on the sector. U.S. consumer prices barely rose in…
By Keith Coffman and Brendan O’Brien DENVER (Reuters) -Ten people were wounded in an apparently drug-related shooting in downtown Denver on Tuesday after basketball fans poured onto city streets to celebrate the Denver Nuggets winning their first NBA championship, police said. Two suspects were taken into custody, including one man wounded in the gunfire, which…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices climbed over 3% on Tuesday on hopes for growing fuel demand after China’s central bank lowered a short-term lending rate for the first time in 10 months, boosting crude prices after steep losses the previous session. The rate cut is aimed at adding momentum to a hesitant…
By Joseph White and Norihiko Shirouzu DETROIT/AUSTIN, Texas (Reuters) -Automaker Stellantis said on Tuesday that it continues to evaluate Tesla’s charging standard after Ford Motor Co and General Motors Co said they were adopting it. “At this time, we continue to evaluate the NACS standard and look forward to discussing more in the future,” Stellantis…
CHICAGO (Reuters) – Tyson Foods, which is seeking to cut costs, will lay off 228 corporate employees in Illinois who declined to relocate to the meatpacker’s Arkansas headquarters, the company confirmed on Tuesday. Tyson said it will eliminate 177 employees from an office in downtown Chicago and 51 employees in suburban Downers Grove, Illinois, starting…
By David Shepardson WASHINGTON (Reuters) – U.S auto safety regulators told nearly two dozen major automakers on Tuesday not to comply with a Massachusetts vehicle telematics law, saying it poses significant safety concerns. The National Highway Traffic Safety Administration (NHTSA) said in a letter to major automakers they must comply with a federal vehicle safety…
