(Reuters) – U.S. consumer spending slowed sharply in May, but persistently strong underlying inflation pressures could compel the Federal Reserve to resume raising interest rates next month. The personal consumption expenditures (PCE) price index gained 0.1% in May after rising 0.4% in April, data from the Commerce Department showed Friday. In the 12 months through…
(Reuters) – The Federal Reserve is seen slightly less locked in to a July interest rate hike, traders bet on Friday, after a government report showed price pressures eased slightly in May but remained far above the Fed’s goal. Inflation by the Fed’s preferred personal consumption expenditures index rose last month at a year-on-year pace…
(This June 28 story has been corrected to add that Archer received certification to conduct flight testing of its demonstrator aircraft in paragraph 7) (Reuters) – Joby Aviation said on Wednesday the U.S. aviation regulator has given the nod for flight testing of its electric air taxi, taking it a step closer to securing approvals…
By Guy Faulconbridge MOSCOW (Reuters) -Russia will emerge stronger after a failed mutiny by Wagner Group mercenaries so the West need not worry about stability in the world’s biggest nuclear power, Foreign Minister Sergei Lavrov said on Friday. President Vladimir Putin this week thanked the army and security forces for averting what he said could…
By Toby Sterling AMSTERDAM (Reuters) -The Dutch government on Friday announced new restrictions on exports of some semiconductor equipment, boosting a U.S.-led drive to curb supplies of high-tech components to China but drawing an angry response from Beijing. “We have taken this step in the interest of our national security” said Dutch Trade Minister Liesje…
(Reuters) – Constellation Brands first-quarter results topped Wall Street expectations on Friday, as the Corona beer maker benefited from higher pricing and steady demand for its alcoholic beverages. Alcohol manufacturers have increased prices to offset soaring costs of raw material, freight, packaging as well as rising wages and overhead expenses. Constellation’s beer business posted an…
MADRID (Reuters) -U.S. buyout firm Apollo made a cash bid for Applus Services on Friday which values the Spanish industrial testing company at 1.23 billion euros ($1.33 billion). Apollo said in a filing to Spain’s stock market regulator that it had offered 9.50 euros in cash per Applus share, a 1.9% premium over Thursday’s closing…
HAMBURG (Reuters) – Ford has found what it described as a major international investor for the U.S. carmaker’s German plant in Saarlouis and has signed initial agreements together with the western state of Saarland, it said at a works meeting at the plant on Friday. “This is an excellent basis for further negotiations, with the…
By Joseph Ax, Daniel Wiessner and Tom Hals (Reuters) – The Supreme Court’s decision on Thursday barring race-conscious admissions policies will force universities to find new ways to attract a diverse student body – but experts said such efforts will likely open a new front in what has been a decades-long legal battle over race…
By Jason Lange and Nathan Layne WASHINGTON (Reuters) – Two groups allied with former President Donald Trump and Florida Governor Ron DeSantis have pumped more than $30 million into the 2024 Republican presidential race, more than five times the spending by all outside groups at the same point in the 2020 campaign, according to a…
