By Michael S. Derby NEW YORK (Reuters) – Risks to the economic outlook in a time of a rapid Federal Reserve rate increases remains high, even as it eased a bit, according to a report Wednesday from the Federal Reserve Bank of New York. The regional central bank arm made its finding as part of…
By Laura Sanicola (Reuters) -Oil prices settled up about $2 on Wednesday as optimism over oil demand and U.S. debt ceiling negotiations outweighed worries about abundant supply. Brent crude futures settled up $2.05, or 2.7%, to $76.96 a barrel. West Texas Intermediate U.S. crude settled up $1.97 or 2.8% to $72.83. “Today’s strong oil trade…
By Tatiana Gomozova and Lucy Papachristou MOSCOW (Reuters) – Three Russian academics who have worked on hypersonic missile technology face “very serious accusations”, the Kremlin said on Wednesday, in a treason investigation that has spread alarm through Russia’s scientific community. Kremlin spokesman Dmitry Peskov said he was aware of an open letter from Siberian scientists…
By Kate Abnett BRUSSELS (Reuters) -Southern Europe is bracing for a summer of ferocious drought, with some regions already suffering water shortages and farmers expecting their worst yields in decades. As climate change makes the region hotter and drier, years of consecutive drought have depleted groundwater reserves. Soils have become bone dry in Spain and…
By Simon Lewis WASHINGTON (Reuters) -Myanmar’s military has imported at least $1 billion in arms and other material since it staged a coup in February 2021, a UN expert said on Wednesday in a new report that calls out Russia and China for aiding the junta’s deadly campaign to crush its opposition. Since the military…
By Nathan Gomes (Reuters) -Pilots of FedEx Corp’s air delivery unit on Wednesday voted “overwhelmingly” in favor of a strike if needed, the Air Line Pilots Association said as it enters the final stages of a contract negotiation with the company. With aviators in short supply and air travel demand booming, pilots are enjoying enhanced…
By Luc Cohen NEW YORK (Reuters) – FTX founder Sam Bankman-Fried is hoping a recent Supreme Court decision limiting the scope of fraud prosecutions will bolster his defense as he fights charges stemming from the collapse of his cryptocurrency exchange. But legal experts said Bankman-Fried’s odds of getting the charges dismissed remain slim. On May…
By Anna Tong (Reuters) – The swift growth of artificial intelligence technology could put the future of humanity at risk, according to most Americans surveyed in a Reuters/Ipsos poll published on Wednesday. More than two-thirds of Americans are concerned about the negative effects of AI and 61% believe it could threaten civilization. Since OpenAI’s ChatGPT…
By Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will hold its key interest rate steady this year despite an expected recession, according to a Reuters poll of economists, who also said the risk of a U.S. default over the debt ceiling was higher compared to prior stand-offs. Those concerns, along with failures of…
By Sarah N. Lynch WASHINGTON (Reuters) -Rachael Rollins, the top federal prosecutor in Massachusetts, improperly used her U.S. Justice Department position to meddle in a local district attorney election by leaking to newspapers dirt about a political rival – one of many ethics violations cited in two reports by government investigators on Wednesday. The reports…
