WASHINGTON (Reuters) -The U.S. Senate Commerce Committee on Wednesday will vote on sweeping bipartisan rail safety legislation prompted by a Norfolk Southern-operated train derailment on Feb. 3 in Ohio. Committee Chair Maria Cantwell, a Democrat, said the legislation will mandate the use of technology that can identify equipment failures, prevents cursory railcar inspections, and ensures…
By Jaiveer Shekhawat (Reuters) -Shares of cryptocurrency- and blockchain-related companies fell in early trading hours on Monday after Binance halted its bitcoin withdrawals for several hours due to heavy volumes and rising processing fees. The halts pushed bitcoin, the world’s biggest cryptocurrency, down 2% to a one-week low of $27,900. Crypto exchange Coinbase Inc fell…
By Howard Schneider and Ann Saphir (Reuters) -Credit conditions for U.S. business and households continued tightening in the first months of the year, according to a Federal Reserve survey of bank loan officers, but the results seemed to mark the accumulating impact of Fed monetary tightening rather than the cliff-like decline in credit some feared…
By Andrea Shalal WASHINGTON (Reuters) – Treasury Secretary Janet Yellen is reaching out to U.S. business and financial leaders to explain the “catastrophic” impact a U.S. default on its debt would have on the U.S. and global economies, two sources familiar with the matter said on Monday. The Treasury secretary is having one-on-one conversations with…
By Patricia Zengerle WASHINGTON (Reuters) -The Republican chairman of the U.S. House of Representatives Foreign Affairs Committee threatened Secretary of State Antony Blinken with contempt of Congress if he does not comply with a subpoena seeking a classified cable related to the August 2021 U.S. withdrawal from Afghanistan. In a letter to Blinken dated Friday…
By Michael S. Derby (Reuters) – U.S. consumers said last month they expected slightly lower inflation in a year’s time, the New York Federal Reserve said in a report that also showed the bank stresses that kicked off in March weren’t weighing heavily on the moods of Americans. The regional Fed bank reported as part…
By Blake Brittain (Reuters) – Apple Inc on Monday failed to convince a U.S. appeals court that security startup Corellium Inc infringed its copyrights by simulating its iOS operating system to help researchers find security flaws in Apple devices. The 11th U.S. Circuit Court of Appeals said Corellium lawfully recreated Apple’s system under the U.S….
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 2% on Monday as U.S. recession fears eased and some traders saw crude’s three-week slide on demand worries as overdone. Brent crude settled up $1.71, or 2.3%, at $77.01. U.S. West Texas Intermediate (WTI) crude also gained $1.82, or 2.6%, to $73.16. A healthy U.S….
By Tom Polansek and Granth Vanaik (Reuters) -Tyson Foods Inc shares plunged 16% to a three-year low on Monday as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast amid slowing consumer demand. The weaker-than-expected results indicate cash-strapped shoppers are cutting back on meat spending in a high-inflation environment while…
By Jonathan Stempel (Reuters) – One of the biggest hits from the just-concluded annual love fest for Warren Buffett showed the enduring popularity of the investing legend: plush, squishy toys featuring the billionaire and his business partner Charlie Munger. On Friday, the start of Berkshire Hathaway Inc’s three-day shareholder weekend, thousands thronged a convention hall…
