By David Shepardson WASHINGTON (Reuters) -U.S. aviation regulators are forecasting nearly 313,000 flights over the seven-day Memorial Day holiday period, up 4.5% from 2022 and just below 2019 pre-pandemic levels. The Federal Aviation Administration said the traditional seven-day kickoff to the busy U.S. summer travel season will surpass the 299,500 flights flown in the same…
By Stephen Culp NEW YORK (Reuters) – Wall Street rallied to a higher close on Wednesday, gathering momentum throughout the afternoon trading, and the dollar touched a six-week high as regional banks surged and negotiations in Washington over raising the debt ceiling progressed. All three major U.S. stock indexes rallied to end up more than…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom has offered interoperability remedies in an effort to address European Union antitrust concerns over its $61 billion VMware bid, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed. The EU competition enforcer, which did not provide details…
(Reuters) – Large parts of the United States and some areas in Canada, home to around 165 million people, could face energy shortfalls during periods of extreme heat this summer, a group that sets reliability standards for North American electric grids warned. In its summer outlook released on Wednesday, the North American Electric Reliability Corp…
(Reuters) – The U.S. Interior Department will review the environmental impacts of a possible land swap deal that would allow a new road to cut through an Alaska wildlife refuge, it said on Wednesday. The move comes two months after Interior Secretary Deb Haaland withdrew a Trump-era land exchange deal between her agency and the…
By Abigail Summerville NEW YORK (Reuters) – Alphia is exploring options including a sale that could value the private equity-owned pet food manufacturer at over $1 billion, according to people familiar with the matter. Alphia, which is owned by J.H. Whitney & Co and was formed out of the merger of premium pet food manufacturers…
(Reuters) – The former chief executive of the First Republic Bank Michael Roffler blamed the bank’s collapse on the contagion from the failures of other regional banks and said regulators did not express concerns regarding the bank’s strategy, liquidity, or management performance. A total of over $100 billion in deposits were withdrawn from the bank…
By David Shepardson WASHINGTON (Reuters) -A group of bipartisan U.S. lawmakers introduced legislation Wednesday to bar automakers from eliminating AM broadcast radio in their new vehicles, citing safety concerns. Democratic Senator Edward Markey, one of the sponsors of the bill, said at least eight automakers have removed AM broadcast radio from their electric vehicles, including…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to a seven-week high on Wednesday, boosted by optimism about a deal to extend the debt ceiling and avert a U.S. default and amid a round of solid economic data that suggests rate cuts from the Federal Reserve could come later rather than sooner. The…
By Michael S. Derby NEW YORK (Reuters) – Risks to the economic outlook in a time of a rapid Federal Reserve rate increases remains high, even as it eased a bit, according to a report Wednesday from the Federal Reserve Bank of New York. The regional central bank arm made its finding as part of…
