By David Gaffen NEW YORK (Reuters) -Oil prices rallied on Wednesday after U.S. crude inventories dropped by nearly 5 million barrels and fuel demand rose to an all-time high, underscoring the market’s ongoing tightness. Brent crude futures settled up 77 cents, or 0.9%, to $91.55 a barrel. U.S. West Texas Intermediate crude (WTI) <CLc1> ended…
By Julie Gordon and David Ljunggren OTTAWA (Reuters) -Canada’s economy does not need more stimulus, but rather more investment from both government and businesses to build up supply capacity to meet strong consumer demand, Bank of Canada Governor Tiff Macklem said on Wednesday. Macklem, when asked in an audience Q&A session if government should be…
(Reuters) – The Federal Reserve Bank of Boston on Wednesday named University of Michigan provost Susan Collins as its next chief, making her the first Black woman to lead a regional Fed bank. Collins will start her job on July 1, the Boston Fed said in a statement. She would succeed longtime president Eric Rosengren,…
By David Gaffen NEW YORK (Reuters) -Oil prices were little changed on Wednesday, paring gains after spiking earlier on data showing U.S. inventories dropped by nearly 5 million barrels and demand rose to an all-time high. Brent crude futures gained 49 cents, or 0.5%, to $91.27 a barrel by 1:41 p.m. EST (1841 GMT). U.S….
(Reuters) – Dotdash Meredith, owned by media mogul Barry Diller’s IAC, has decided to stop publishing the print editions of six magazines including Entertainment Weekly and InStyle as part of a digital push. The move would result in 200 job losses and impacted titles also include EatingWell, Health, Parents and People en Español, Dotdash Meredith…
WASHINGTON (Reuters) -Legislation to tighten controls on U.S. lawmakers’ financial transactions, including possibly banning them from buying and selling stocks, could be put on a fast track toward passage, House of Representatives Speaker Nancy Pelosi said on Wednesday. Weeks ago, Pelosi said the House Administration Committee was reviewing https://www.reuters.com/world/us/us-house-speaker-pelosi-says-banning-member-stock-trades-possible-2022-01-20 several suggestions from rank-and-file members amid…
By Helen Reid JOHANNESBURG (Reuters) – French automaker Renault SA has backed a moratorium on deep-sea mining, the company told Reuters on Wednesday, committing to exclude seabed metals from its supply chain in a blow to the nascent industry. In October, French President Emmanuel Macron identified deep seabed exploration as an investment priority for France,…
By Katanga Johnson WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday voted to propose heightened regulations meant to scrutinize how private fund advisers charge fees to investors and measure fund performance. The rule changes, which must undergo public consultation before they can be adopted, would require private fund advisers, such as…
By Francesco Canepa FRANKFURT (Reuters) – As guardians of stability in prices and financial markets, the last word central bankers want to be associated with is “panic”. Yet that is precisely the term used by two top European Central Bank watchers to describe the message communicated by ECB President Christine Lagarde since she opened the…
By Bansari Mayur Kamdar (Reuters) – Wall Street’s main indexes rose on Wednesday, with high-growth stocks gaining as a recent rally in Treasury yields paused, while investors took comfort from upbeat earnings reports and signs of easing tensions in Ukraine. The benchmark 10-year U.S. Treasury yield slipped from multi-year highs hit in the previous session,…
