By Howard Schneider WASHINGTON (Reuters) -A tight U.S. job market and rising wages are beginning to have more of an impact on inflation and could embed faster rising prices if the demand for workers is not brought into better balance with the labor force, new research from an ex-Federal Reserve chief and a former top…
By Andrew Mills and Tim Hepher (Reuters) – Boeing Chief Executive Dave Calhoun on Tuesday said it could take until the end of 2024 to iron out sector-wide supply chain problems that have hampered global jetliner production. “Priority one for the two airplane manufacturers is stability,” Calhoun told the Qatar Economic Forum, referring to Boeing…
By Howard Schneider WASHINGTON (Reuters) – The U.S. Federal Reserve’s 2020 move to put more weight on jobs in setting monetary policy “created more problems than it solved” as inflation surged and policymakers responded more slowly than they otherwise might have, economists including a former Fed vice chair said in research critical of that change….
WASHINGTON (Reuters) – U.S. business activity increased to a 13-month high in May, lifted by strong growth in the services sector, the latest indication that the economy regained momentum early in the second quarter despite rising risks of a recession. S&P Global said on Tuesday its flash U.S. Composite PMI Output Index, which tracks the…
MILAN (Reuters) – BlackRock, the world’s biggest asset manager, has named Giovanni Sandri, its current head of Italy, as head of southern Europe, creating a cluster that also includes Spain, Portugal, Greece and Israel, two sources familiar with the matter said. The southern Europe cluster follows similar regional hubs BlackRock has created across Europe such…
LONDON (Reuters) -Barclays has appointed a Morgan Stanley veteran Scott McDavid as its new global head of equities, the British bank said on Tuesday, the latest in a series of high-profile hires to its New-York investment banking operations. The bank also said it had appointed Ronnie Wexler as global head of equities distribution. McDavid will…
RICHMOND, Virginia (Reuters) – U.S. banks should be prepared to borrow regularly from the Federal Reserve’s discount window, while the Fed should make sure loans can be accessed at any time given changes in the speed of banking and transactions, Dallas Fed President Lorie Logan said on Tuesday. The rapid run on and sudden failure…
LONDON (Reuters) – International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday she hoped the world economy would not have to wait until the 11th hour for a solution on the U.S. debt ceiling. White House and congressional Republican negotiators are seeking to resolve a months-long impasse over raising the U.S. government’s $31.4 trillion…
By Dan Williams JERUSALEM (Reuters) – The top Israeli general raised the prospect of “action” against Iran on Tuesday even as Prime Minister Benjamin Netanyahu’s national security adviser played down any immediate threat posed by a new underground nuclear facility being dug by Tehran. World powers’ efforts to negotiate new curbs to Iranian uranium enrichment…
(Reuters) – Auto parts retailer AutoZone Inc missed expectations for third-quarter net sales on Tuesday, as increased prices of automobile parts led to a rise in inventories, sending its shares 3.2% lower before the bell. “Weaker-than-expected sales for the month of March meaningfully affected our results this quarter,” CEO Bill Rhodes said. Elevated material costs…
