By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -Federal Reserve officials including the vice chair-designate pointed towards a rate hike “skip” in June, prompting a quick reversal of market expectations for another hike as the U.S. central bank weighed the value of caution against still strong inflation data. In what some viewed as a message…
By Arriana McLymore NEW YORK (Reuters) – Fast-fashion retailer Shein is boosting senior leaders and executives to roll out its U.S. marketplace and to meet regulatory compliance as it deepens its footprint in North America and looks to diversify away from China. The company is hiring a U.S. head of logistics, who will be a…
By Shivansh Tiwary and Paul Lienert (Reuters) – The cost to make electric vehicles may not drop to the level for gas-powered cars until after 2030 when the process becomes simpler and less labor-intensive, Ford Motor Co Chief Executive Jim Farley said on Wednesday. At an investor conference, Farley said that, for many automakers, EVs…
By Anthony Esposito MEXICO CITY (Reuters) – Mexico is evaluating whether buying Citigroup Inc’s Mexican consumer unit would help boost financial inclusion, potentially in combination with a state-run bank such as the Banco del Bienestar, a top finance ministry official said. U.S. lender Citigroup scrapped its sale of the Banamex unit last week and said…
(Updates prices throughout story, adds analyst comment in paragraphs 7 and 8, recasts lede and paragraphs 2, 3 and 4 to reflect comments from Fed governor) By Hannah Lang WASHINGTON (Reuters) – The U.S. dollar retreated from a more than two-month high on Wednesday after a Federal Reserve official warned any decision by the central…
By Davide Barbuscia and Tom Sims NEW YORK (Reuters) – BlackRock Inc Chief Executive Laurence Fink said on Wednesday that inflation remained sticky and the Federal Reserve may need to hike interest rates further to contain price pressures. Fink, who heads the world’s largest asset manager, said at a Deutsche Bank financial services conference that…
LONDON (Reuters) – North Korean missile tests are endangering the safety of commercial shipping in busy sea lanes in northeastern Asia without enough time given for notification, several countries told a UN agency on Wednesday. Nuclear-armed North Korea’s sixth satellite launch on Wednesday ended in failure, with the booster and payload plunging into the sea,…
NEW YORK (Reuters) – Morgan Stanley expects to its revenue from trading and investment banking to slump in the second quarter given a more challenging economic environment, co-president Andy Saperstein told investors Wednesday. (Reporting by Tatiana Bautzer)
By Siddharth Cavale BENTONVILLE, Ark. (Reuters) – Walmart is raising wages for thousands of U.S. pharmacists and opticians, the retailer said on Wednesday, part of its broader plan to expand primary care services across the country. The Bentonville, Arkansas-based chain said about 3,700 pharmacists would get a bump in pay starting on Wednesday, bringing their…
By Ann Saphir and Howard Schneider (Reuters) – U.S. economic activity appeared to stall in recent weeks, a Federal Reserve report published on Wednesday showed, with job growth and inflation both slowing, and near-term business prospects looking slightly worse than previously. “Expectations for future growth deteriorated a little, though contacts still largely expected a further…
