By Howard Schneider WASHINGTON (Reuters) – The gain of 339,000 U.S. payroll jobs in May was a blockbuster number, nearly double what was normal before the pandemic and seeming confirmation that key parts of the economy motor along despite aggressive Federal Reserve interest rate increases. But details beneath the headline number may, if sustained, point…
CHICAGO (Reuters) – Tyson Foods Inc will terminate about 262 employees in South Dakota who chose not to relocate to its headquarters in Arkansas, showing widespread resistance to the move, the company confirmed on Friday. The layoffs remove some key executives at a time the U.S. meatpacker is seeking to cut costs in the face…
By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) – Citigroup Inc CEO Jane Fraser said scrapping the sale of its Mexican retail business, known as Banamex, and pursuing an initial public offering (IPO) was in the best interest of shareholders. “We acted decisively, we acted very swiftly and we said ‘okay, we’re gonna go…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth accelerated in May, but a surge in the unemployment rate to a seven-month high of 3.7% suggested that labor market conditions were easing, which could give the Federal Reserve cover to skip an interest rate hike this month. The increase in the unemployment rate from a…
(Reuters) – Canada’s second-biggest oil producer Suncor Energy has told employees it plans to cut 1,500 jobs this year, two sources confirmed to Reuters on Friday, in one of the first big moves by its new CEO. In a staff memo announcing the layoffs, Suncor also told employees it was seeking C$400 million ($297.64 million)…
(Reuters) -The United States’ “AAA” credit rating will remain on negative watch, despite a debt limit agreement that will allow the government to meet its obligations, Fitch Ratings said on Friday. The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government’s $31.4 trillion debt ceiling, following months of…
By Davide Barbuscia NEW YORK (Reuters) -While a U.S. default on its debt has been averted, the possibility of another credit rating downgrade remains, as 11th-hour debt ceiling negotiations have become an almost regular feature in recent U.S. history. The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the…
By Jonathan Landay and Arshad Mohammed WASHINGTON (Reuters) – The United States does not need more nuclear weapons to deter the combined forces of Russia and China because of its advanced military capabilities, U.S. national security adviser Jake Sullivan said on Friday. Sullivan also said Washington will abide by the limits on strategic nuclear weapons…
WASHINGTON (Reuters) – A Georgia-based probe into whether former Republican President Donald Trump and others illegally sought to overturn his loss in the state’s 2020 presidential election has expanded into activities outside of Georgia, the Washington Post reported on Friday. Fulton County’s prosecutor has broadened the two-year-long investigation to include Trump’s campaign “hiring two firms…
By Arshad Mohammed WASHINGTON (Reuters) – The United States said on Friday it imposed sanctions on Iranian technology company Arvan Cloud, two employees and an affiliated Emirati firm for helping Tehran censor the internet in Iran as part of the government’s attempts to crush domestic protests. Arvan Cloud has a close relationship with Iran’s intelligence…
