By David Shepardson WASHINGTON (Reuters) -The United States will allow Chinese airlines to increase U.S. passenger services to 12 weekly round-trips, the Transportation Department (USDOT) said on Wednesday, equal to the number of flights Beijing has permitted for American carriers. It is a boost from the eight weekly round-trip flights currently allowed by Chinese carriers and matches…
By Sarah Morland MEXICO CITY (Reuters) -Mexico’s president asked his U.S. counterpart Joe Biden to stop the United States Agency for International Development (USAID) from funding groups hostile to his government, according to a letter presented to journalists on Wednesday, echoing previous Mexican criticism of U.S. interventionism. President Andres Manuel Lopez Obrador did not specify…
By Kiana Wilburg GEORGETOWN (Reuters) -An Exxon Mobil unit is in breach of insurance obligations for its first offshore oil project in Guyana in part due to errors by the environmental regulator, a Guyanese court ruled on Wednesday, a decision the government rejected. Exxon “engaged in a disingenuous attempt” to dilute its obligations under its…
(Reuters) – A protracted default on U.S. payment obligations could result in the loss of 8.3 million jobs and a 6.1% reduction in economic output, according to an analysis by the White House Council of Economic Advisers released on Wednesday. Such an unprecedented default “would likely lead to severe damage to the economy, with job…
By Sam Jabri-Pickett TORONTO (Reuters) -Google and Meta would withdraw access to news articles in Canada if legislation compelling internet companies to pay news publishers is passed, company executives told Canadian lawmakers on Wednesday. Canada’s proposed legislation would force platforms like Google parent Alphabet Inc and Facebook parent Meta Platforms Inc to negotiate commercial deals…
By Daniel Trotta (Reuters) – An autopsy showed Tyre Nichols had a legal amount of alcohol and a trace amount of marijuana in his blood when Memphis police beat the Black man to death after a traffic stop in January, ABC News reported on Wednesday, undermining police claims that Nichols was high. Nichols’ death provoked…
NEW YORK (Reuters) – Goldman Sachs Group Inc is in talks to settle a class-action lawsuit that alleged widespread gender bias against women in pay and promotions, said a source familiar with the matter. The move to settle the case comes roughly a month before the trial was set to begin. The plaintiffs, former employees…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase on Wednesday with what may be the last in a historic series of interest rate hikes and heightened attention to credit and other economic risks. The U.S. central bank raised its…
(Reuters) -U.S. shale oil producers Marathon Oil Corp and APA Corp on Wednesday topped Wall Street’s first-quarter profit estimates on strong crude prices and demand. Shares of APA rose 2% in extended trade on a pledge to reduce spending on new production this year, while Marathon fell 3% after promising to retain its output and…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended lower on Wednesday, reversing gains after comments by Federal Reserve Chair Jerome Powell left investors wondering what the U.S. central bank’s next move would be with interest rate hikes. Indexes initially held onto gains following the Fed’s statement. It increased interest rates by a quarter…
