WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan’s presidency, bouncing back with resilience from 2020’s brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and services — expanded 5.7% in 2021. It was the strongest calendar-year growth since a 7.2%…
TAIPEI (Reuters) -Singapore’s DBS Group will announce on Friday it is to buy Citigroup’s consumer finance business in Taiwan, two sources familiar with the matter told Reuters on Thursday. DBS and Citi declined to comment. The sources, who spoke on condition of anonymity as they were not authorised to speak to the media, did not…
NAIROBI, Kenya (AP) — Nearly 1,500 people died of malnutrition in just part of Ethiopia’s blockaded Tigray region over a four-month period last year, including more than 350 young children, a new report by the region’s health bureau says. It cites more than 5,000 blockade-related deaths in all from hunger and disease in the largest…
WASHINGTON (Reuters) – A bipartisan group of U.S. lawmakers has asked the Treasury Department for “clarity to the digital asset ecosystem” after new related reporting requirements were included in last year’s $1 trillion infrastructure law, Punchbowl News said on Thursday. In a letter dated Wednesday, the group told Treasury Secretary Janet Yellen that part of…
DALLAS (AP) — Southwest Airlines posted a narrow $68 million profit for the fourth quarter, aided by full flights during the holidays, but the airline warned Thursday that it expects to lose money in the first three months of 2022. The rise of the omicron variant of COVID-19 and continuing weak business travel will cut…
McDonald’s ended 2021 on a high note with U.S. customers spending more and fewer restaurant closures in Europe from coronavirus restrictions. But higher costs for food and labor weighed on profits, and the company said it expects that pressure to continue this year. McDonald’s reported adjusted earnings of $2.23 per share, 11 cents short of…
By Chibuike Oguh (Reuters) – Blackstone Inc said on Thursday its fourth-quarter distributable earnings rose by 55% to a record high, as the world’s largest manager of alternative assets took advantage of rising markets to sell assets for top dollar. Private equity dealmaking pushed global mergers and acquisition activity (M&A) to an all-time high in…
By Tommy Wilkes LONDON (Reuters) – Stocks fell on Thursday, U.S. two-year bond yields rocketed to 23-month highs and the dollar busted out of its recent range after the Federal Reserve stuck to plans for an interest rate rise in March and Chair Jerome Powell warned about inflation. The Euro STOXX fell 0.19% while Germany’s…
By Hannah Lang (Reuters) – Robinhood Markets Inc became a household name ahead of its stellar IPO last year, when retail investors used its trading app to drive shares of GameStop and other “meme stocks” into the stratosphere, but name recognition has not helped its share price lately. “The market is not being very patient…
NEW DELHI (AP) — Tata Sons, India’s oldest and largest conglomerate, has regained ownership of Air India, the country’s debt-laden national carrier. Tata pioneered commercial aviation in India when it launched the airline in 1932. It was taken over by the government in 1953. Tata Sons Chairman N. Chandrasekaran met with Prime Minister Narendra Modi…
