By Dave Sherwood LA FEDERAL, Cuba (Reuters) – Cuban seamstress Yamidely Cervantes has bought a new sewing machine for the first time in years, plus a refrigerator and a cellphone – all on Russia’s dime. She said her 49-year-old husband Enrique Gonzalez, a struggling bricklayer, left their home in the small town of La Federal…
By Ann Saphir (Reuters) -U.S. Federal Reserve officials say that monetary policy will need to stay restrictive for “some time” to bring inflation back down to the Fed’s 2% target, but their unity around that phrase masks an ongoing debate over another possible rate hike this year. “I remain willing to support raising the federal…
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% on Monday to a three-week low as a higher-priced Brent contract expired, the U.S. dollar strengthened and traders took profits, concerned about rising crude supplies and pressure on demand from high interest rates. On its first day as the front-month, Brent futures for December…
WASHINGTON (Reuters) -Republican U.S. House of Representatives Speaker Kevin McCarthy faces an attempt by members of his own party to oust him because he passed a stopgap funding measure with Democratic support to avoid a government shutdown. Representative Matt Gaetz, a hardline Republican lawmaker, said he would file what’s called the “motion to vacate.” WHAT…
SHANGHAI (Reuters) – U.S. automaker Tesla on Sunday released an updated version of its Model Y in China, with minor changes to the vehicle’s exterior and interior. The changes include a new wheel design, according to a post by Tesla’s official WeChat account. The starting price in China for the Model Y, the company’s global…
By David Shepardson and Joseph White DETROIT (Reuters) – The chief executives of GM and Ford blasted United Auto Workers leaders on Friday, and UAW chief Shawn Fain responded in kind, hours after the union escalated the strike that is now in its third week. Fain on Friday expanded the first-ever simultaneous strike against the…
By Laura Sanicola (Reuters) -Oil prices settled 1% lower on Friday due to macroeconomic concerns and profit taking, but rose about 30% in the quarter as OPEC+ production cuts squeezed global crude supply. Front-month Brent November futures settled down 7 cents to $95.31 per barrel at the contract’s expiry, up about 2.2% in the week…
By Savyata Mishra (Reuters) -Nike shares climbed as much as 11% on Friday as the company further trimmed its inventory ahead of the all-important holiday shopping season and forecast improved second-quarter gross margin due to fewer discounts. The world’s largest sportswear maker has focused on reducing its inventory, bringing it down by 10% to $8.7…
(Reuters) -U.S. government services would be disrupted and hundreds of thousands of federal workers would be told not to work if Congress fails to provide funding for the fiscal year starting Oct. 1. Workers deemed essential would remain on the job. Almost all workers would not be paid. Here is a guide to what would…
By Laura Matthews NEW YORK (Reuters) – Delays of vital economic data releases could trigger financial market volatility if a U.S government shutdown goes ahead this weekend and drags on for weeks, leaving investors to use alternative data sources to determine the economy’s trajectory. Washington is days away from its fourth partial shutdown of the…
