By Ann Saphir (Reuters) – St. Louis Federal Reserve President James Bullard on Tuesday said he favors lifting rates at the U.S. central bank’s meeting in March and likely again in May. But he pushed back against the idea of kicking off the tightening cycle with a half-percentage point hike, and said that how high…
By Erwin Seba HOUSTON (Reuters) – Union and energy company negotiators met on Tuesday to settle terms on a new labor contract covering 30,000 U.S. workers at oil refineries, chemical plants and pipelines. Marathon Petroleum and the United Steelworkers union (USW) on Monday averted a potential strike by agreeing to a 24-hour rolling extension of…
(Reuters) – St. Louis Federal Reserve President James Bullard on Tuesday said he favors lifting rates at the U.S. central bank’s meeting in March and likely again in May, but he pushed back against the idea of kicking off the coming tightening cycle with a half-percentage point hike. “I don’t think a 50-basis point hike…
MEXICO CITY (AP) — Mexico’s central bank says remittances — the money migrants send home to their relatives — grew by 27.1% in 2021 to total about $51.6 billion for the year as a whole. That is a record amount, despite the coronavirus pandemic, and would surpass almost all other sources of Mexico’s foreign income,…
(Reuters) -Ford Motor Co is planning new investment of up to $20 billion in building its electric vehicles, Bloomberg News reported on Tuesday. The additional investment will be spread out over the next five to ten years and will include converting its present factories around the world to electric-vehicle production, the report https://bit.ly/3L4LFxS said, citing…
As we started 2022, investors aggressively shed exposure to the tech industry. Concerns over high valuations in a raising rate environment was a key driver for this price action. This type of environment opens opportunities as good names can get caught up in the price action. The proverbially ‘throwing the baby out with the bathwater’….
By Sabrina Valle HOUSTON (Reuters) – Exxon Mobil Corp on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company slashed spending after fuel demand cratered two years ago. Since then, earnings have topped pre-pandemic levels, helped by the…
By Nate Raymond (Reuters) -The three largest U.S. drug distributors and drugmaker Johnson & Johnson have agreed to pay $590 million to resolve claims by Native American tribes that the companies fueled an opioid epidemic in their communities, according to court filings. Tuesday’s deal came after the distributors, McKesson Corp, AmerisourceBergen Corp and Cardinal Health…
By Lucia Mutikani WASHINGTON (Reuters) -A measure of U.S. manufacturing activity fell to a 14-month low in January amid an outbreak of COVID-19 infections, supporting the view that economic growth lost steam at the start of the year. But the survey from the Institute for Supply Management (ISM) on Tuesday marked the third straight month…
WASHINGTON (Reuters) – The United Auto Workers (UAW) will directly elect officers after members voted in a referendum that was required as part of a 2020 Justice Department settlement to resolve a corruption probe. U.S. District Judge David Lawson in Detroit on Tuesday approved the results of the referendum and ordered the change by June,…
