Breaking Business news from across New Jersey.
By Michael S. Derby NEW YORK (Reuters) -Philadelphia Federal Reserve President Patrick Harker reiterated on Wednesday that he is ready for the U.S. central bank to move to a slower …
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By Caroline Valetkevitch NEW YORK (Reuters) – U.S. 10-year Treasury yields fell to a four-month low on Wednesday as data showed U.S. retail sales declined more than expected in December, …
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Davos 2023: Marcos says Philippines to resist ‘recessionary forces’
by Reutersby ReutersBy Brenda Goh and Enrico Dela Cruz DAVOS, Switzerland/MANILA (Reuters) – Philippines President Ferdinand Marcos Jr said his country would resist global recessionary headwinds, but warned that increasing tensions in …
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Microsoft to shed 10,000 jobs, adding to glut of tech layoffs
by Reutersby ReutersBy Jeffrey Dastin and Yuvraj Malik DAVOS, Switzerland (Reuters) – Microsoft Corp on Wednesday said it would eliminate 10,000 jobs and take a $1.2 billion charge to earnings, as its …
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(Reuters) – BHP Group Ltd on Thursday posted higher quarterly iron ore shipments that edged past expectations and said China was set to be a stabilizing force for commodities demand this …
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DAVOS, Switzerland (Reuters) – China could see a sharp recovery in economic growth from the second quarter onwards based on current infection trends after the dismantling of most COVID-19 restrictions, …
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MUMBAI (Reuters) – The Indian government bought back bonds maturing in 2024 from the Reserve Bank of India on Tuesday, while also issuing bonds maturing in 2032 worth a similar …
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Fed’s Logan supports slower rate hike pace, possibly higher stopping point
by Reutersby ReutersBy Ann Saphir (Reuters) – Dallas Federal Reserve Bank President Lorie Logan on Wednesday laid out a case for slowing the pace of the U.S. central bank’s interest-rate hikes so …
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By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. No fireworks from the Bank of Japan but plenty damp squibs for investors …
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By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose against major currencies on Wednesday in choppy trading, gaining safe-haven bids as risk appetite worsened with stocks on the defensive …
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Mexico’s Pemex destroyed resources worth $342 million from two top fields
by Reutersby ReutersBy Stefanie Eschenbacher MEXICO CITY (Reuters) -Mexican state oil company Pemex illegally burnt off hydrocarbon resources worth more than $342 million in the three years up to August 2022 at …
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Robinhood must face customers’ lawsuit alleging it hid trading costs
by Reutersby ReutersBy Jonathan Stempel (Reuters) -A U.S. judge on Wednesday said Robinhood Markets Inc must face a lawsuit by customers who accused the online trading platform of fraudulently concealing their actual …
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Yellen, China’s Liu agree to enhance communication after ‘frank exchange’ – U.S. Treasury
by Reutersby ReutersBy Andrea Shalal ZURICH (Reuters) – U.S. Treasury Secretary Janet Yellen agreed with Chinese Vice Premier Liu He to enhance communication about macroeconomic and financial issues during a “candid, substantive, …
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U.S. CFTC commissioner warns of risks if crypto firms self-certify
by Reutersby ReutersBy Chris Prentice and Hannah Lang NEW YORK/WASHINGTON (Reuters) – A top official with the U.S. Commodity Futures Trading Commission (CFTC) on Wednesday plans to warn lawmakers against allowing cryptocurrency …
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(Reuters) – Blackstone Inc raised a record $25 billion for two funds that dabble in secondaries and co-investments, the asset manager said on Wednesday. Strategic Partners IX raised $22.2 billion, …
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(Reuters) – FTX founder Sam Bankman-Fried in a blog post refuted some claims made by the company’s lawyers on Tuesday, saying that they were “extremely misleading” and that FTX U.S. …
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Oil eases 1% as U.S. recession worries offset China recovery hopes
by Reutersby ReutersBy Scott DiSavino NEW YORK (Reuters) – Oil prices fell about 1% on Wednesday, surrendering early gains as worries about a possible U.S. recession outweighed optimism that China’s lifting of …
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By Jonathan Stempel (Reuters) – A U.S. judge on Tuesday said Costco Wholesale Corp must face a lawsuit claiming it falsely advertises and labels its canned tuna as “dolphin safe” …
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By Laura Sanicola WASHINGTON (Reuters) – U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance delayed by the pandemic and by the …
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(Reuters) -Party City Holdco Inc filed for Chapter 11 bankruptcy protection on Tuesday, making it the latest casualty in the U.S. retail industry as persistently high inflation takes a toll …
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Former Fox execs conspired to bribe FIFA officials, prosecution witness says
by Reutersby ReutersBy Jack Queen (Reuters) – An Argentine businessman testified on Wednesday that two former 21st Century Fox executives and a sports marketing company conspired with him to bribe South American …
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U.S. airlines sound bullish on travel demand despite recession risk
by Reutersby ReutersBy Rajesh Kumar Singh CHICAGO (Reuters) – U.S. airlines on the back of strong financial results remain upbeat about travel demand, even as economists and analysts say the risk of …
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MEXICO CITY (Reuters) – Mexican lawmakers voted Wednesday to confirm the government’s nominee as the newest Bank of Mexico board member, filling a vacancy left at the end of 2022 …
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By Antonio Bronic and Daria Sito-Sucic ZAGREB (Reuters) – The Croatian government and businesses are at loggerheads as traders dismiss measures aimed at battling price hikes after the introduction of …
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U.S. retail sales post biggest drop in a year; inflation retreating
by Reutersby ReutersBy Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range …