LATEST ARTICLES

U.S. FTC delays vote on Lockheed purchase of Aerojet for two weeks -sources

0

January 12, 2022 By Mike Stone and Diane Bartz WASHINGTON (Reuters) -The U.S. Federal Trade Commission, which assesses mergers to ensure they comply with antitrust law, has put off a vote on Lockheed Martin’s purchase of Aerojet Rocketdyne for as much as two weeks, two people briefed on the matter said. The vote had initially been scheduled for midweek, one of the...

Omicron turbulence looms over U.S. airline earnings

0

January 12, 2022 By Rajesh Kumar Singh CHICAGO (Reuters) – U.S. airlines have come a long way since the spring of 2020 when COVID-19 brought the industry to its knees. Yet the pandemic will loom large when big carriers report quarterly earnings starting on Thursday. The latest wave of the health crisis, driven by the highly contagious Omicron...

U.S. economy can withstand Fed tightening, Omicron surge, Powell says

0

January 12, 2022 By Howard Schneider and Ann Saphir (Reuters) -Federal Reserve Chair Jerome Powell, in a congressional hearing that pointed to his likely confirmation for a second term as head of the U.S. central bank, said on Tuesday the economy should weather the current COVID-19 surge with only “short-lived” impacts and was ready for the start of tighter monetary policy....

U.S. judge rejects Facebook request to dismiss FTC antitrust lawsuit

0

January 11, 2022 WASHINGTON (Reuters) -A U.S. judge on Tuesday declined to dismiss the Federal Trade Commission’s antitrust lawsuit against Facebook, saying the FTC had a plausible case that should be allowed to proceed. Facebook, now Meta Platforms, had asked Judge James Boasberg in Washington, D.C. federal court to dismiss the lawsuit in which the government asked the court to demand...

Exclusive-Pfizer to cut U.S. sales staff as meetings with healthcare providers move to virtual

0

January 11, 2022 By Michael Erman (Reuters) -Pfizer Inc said on Tuesday it is reducing its U.S. sales staff as it expects doctors and other healthcare providers to want fewer face-to-face interactions with sales people after the COVID-19 pandemic ends. The move comes as the company is expected to announce more than $80 billion in revenue in 2021 on strong sales of...

Union rejects Kroger’s King Soopers sweetened wage offer

0

January 12, 2022 (Reuters) -The union representing more than 8,700 King Soopers supermarket workers rejected the Kroger-owned Colorado chain’s increased wage offer, setting the stage for a three-week strike starting Wednesday. Earlier on Tuesday, King Soopers, the largest grocery store chain in Colorado, had sweetened a wage offer to workers of UFCW Local 7 to $170 million calling it their...

Bank of America, Wells Fargo scrap some overdraft fees as regulatory scrutiny grows

0

January 11, 2022 By Elizabeth Dilts Marshall NEW YORK (Reuters) – Wells Fargo & Co and Bank of America will no longer charge customers for bouncing checks and are adopting new policies to limit overdraft-related fees, the latest lenders to overhaul such charges amid growing regulatory scrutiny. Bank of America, the second-largest U.S. bank, said earlier on Tuesday...

Citi to exit Mexican consumer business as part of strategy revamp

0

January 12, 2022 By David Henry NEW YORK (Reuters) – Citigroup Inc will exit its Citibanamex consumer banking business in Mexico, the bank said on Tuesday ending its 20-year retail presence in the country that was the last of its overseas consumer businesses. Citigroup’s decision to sell or spin off Citibanamex, Mexico’s third biggest bank by assets...

China’s factory gate inflation slows further after cooling measures

0

January 12, 2022 BEIJING (Reuters) – China’s factory-gate prices rose more slowly than expected in December after government measures to contain high raw material prices, official data showed on Wednesday, leaving room for easing monetary policy. Consumer price inflation also slowed last month as food prices fell, the National Bureau of Statistics (NBS) said in a statement. The...

Tech leads equities’ rebound as Powell sticks to script

0

January 12, 2022 By Tom Westbrook SYDNEY (Reuters) – Stocks and commodities rose in relief and the dollar hit a six-week low on Wednesday, after Federal Reserve Chair Jerome Powell sounded less hawkish than expected in testimony to Congress, as he charts a path out of pandemic policy settings. Bonds have also steadied after beginning the year with...