By Ann Saphir – Federal Reserve Governor Michelle Bowman said Wednesday said she is “trying to keep an open mind” about the usefulness of a U.S. central bank digital currency, …
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FRANKFURT – The European Central Bank’s German policymakers openly discussed prospects for an interest rate hike on Wednesday, with new Bundesbank chief Joachim Nagel arguing that a move could come …
- Business News
Evergrande aims to deliver 600,000 apartments in 2022, says no fire sales
by Reutersby ReutersHONG KONG/SHANGHAI -China Evergrande Group needs to clear its debt by fully restoring construction and sales activities and not by selling off assets on the cheap, its chairman told an …
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By Sergio Goncalves LISBON – Portugal’s government can return to a balanced budget between 2022 and 2023, if it wants, taking advantage of a robust economic recovery from the COVID-19 …
- Business News
Shares in Volkswagen and its top investor rise on Porsche listing hopes
by Reutersby ReutersFRANKFURT – Hopes for more clarity around a possible listing of Volkswagen’s luxury Porsche AG division lifted shares in Europe’s largest carmaker and its top shareholder on Wednesday, traders said. …
- Business News
Bunge profit tops expectations as crush margins boost agribusiness unit
by Reutersby ReutersBy Karl Plume and Arunima Kumar -Bunge Ltd reported a stronger-than-expected 17.1% jump in adjusted quarterly profit on Wednesday as large oilseed crops in North America and Europe and strong …
- Business News
Toronto index opens higher as global stocks rally on upbeat earnings
by Reutersby Reuters– Canada’s main stock index climbed on Wednesday, rising for a second straight day, as global stock markets rallied on upbeat earnings and easing geopolitical tensions. At 09:31 a.m. ET …
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– Goldman Sachs said on Wednesday it was raising its forecast for the U.S. 10-year Treasury yield to 2.25% by end-2022 and to 2.45% by end-2023. Goldman’s previous forecast for …
- Business News
U.S. may be on ‘cusp’ of inflation slowdown, Fed’s Bostic tells CNBC
by Reutersby ReutersWASHINGTON – The U.S. economy may be nearing a turn lower in inflation, Atlanta Fed President Raphael Bostic said on Wednesday, though he added he is still leaning towards a …
- Business News
CVS expects 70%-80% drop in COVID vaccine administration in 2022
by Reutersby Reuters– CVS Health Corp said on Wednesday it expects to administer 70% to 80% fewer COVID-19 vaccines in 2022 compared with last year, adding that in-store diagnostic testing could fall …
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By Jacob Gronholt-Pedersen COPENHAGEN – Two top European shippers warned on Wednesday freight costs were likely to remain high well into this year, offering no relief to customers including the …
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By Karolina Tagaris and Renee Maltezou ATHENS – After years in which Greece was almost as well known for its financial woes as it was for its beaches, recent deals …
- Business News
Equinor shareholders to get $10 billion payout as energy prices soar
by Reutersby ReutersBy Nerijus Adomaitis and Nora Buli OSLO – Norway’s Equinor will pay out $10 billion to shareholders this year after it reported record fourth-quarter pretax profits, joining European rivals in …
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Amazon must adhere to UK supplier rules after grocery turnover tops 1 billion pounds
by Reutersby ReutersLONDON – Amazon’s food retail business in Britain faces increased regulation after the competition watchdog said rules setting out how grocers should treat their suppliers will now apply to the …
- Business News
Currency hit to North American companies in Q3 lowest since 2018
by Reutersby ReutersBy Caroline Valetkevitch NEW YORK – The negative impact of currency fluctuations on North American companies’ third-quarter 2021 results fell from the quarter before and was at the lowest level …
- Business News
Toyota and Honda upbeat on profits as customers pay more for scarce cars
by Reutersby ReutersBy Satoshi Sugiyama and Tim Kelly TOKYO – Toyota Motor and Honda Motor were upbeat about their full-year profit prospects on Wednesday as tight vehicle supplies caused by a chip …
- Business News
Tesla recalls 26,681 U.S. vehicles over windshield defrosting software
by Reutersby ReutersBy David Shepardson WASHINGTON – Tesla Inc is recalling 26,681 vehicles in the United States because a software error may result in windshield defrosting problems, the National Highway Traffic Safety …
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GSK sees sales growth in 2022 after quarterly beat, prepares for spin-off
by Reutersby ReutersBy Pushkala Aripaka and Ludwig Burger -Britain’s GSK forecast growth in 2022 after racking up 1.4 billion pounds ($1.9 billion) in COVID-related sales in 2021, beating quarterly forecasts in its …
- Business News
Bosch CEO expects chip shortage to ease significantly in second half
by Reutersby ReutersBERLIN – Bosch CEO Stefan Hartung expects the chip shortage to lessen significantly in the second half of this year, he said at a press conference on Thursday, adding he …
- Business News
Fed denies release of correspondence on pandemic trades made by policymakers
by Reutersby ReutersBy Howard Schneider – The U.S. Federal Reserve, responding to a Freedom of Information Act request by Reuters, said there are about 60 pages of correspondence between its ethics officials and …
- Business News
Facebook, Instagram are hot spots for fake Louis Vuitton, Gucci and Chanel
by Reutersby ReutersBy Elizabeth Culliford and Silvia Aloisi NEW YORK/MILAN – Facebook owner Meta Platforms is struggling to stop counterfeiters from pushing fake luxury goods from Gucci to Chanel across its social …
- Business News
Analysis-Investors eye uncharted waters as quantitative tightening looms in Canada
by Reutersby ReutersBy Fergal Smith TORONTO – As the Bank of Canada prepares to shrink its bloated balance sheet, investors say the move could enable expected interest rate hikes to have more …
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ZURICH -Credit Suisse Vice Chair Severin Schwan will face opposition from some major shareholders if he stands for re-election to the board of the embattled Swiss bank in April, the …
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STOCKHOLM – Swedish banking group Handelsbanken reported record results on Wednesday as rising income, lower loan losses and measures to curb costs lifted its fourth-quarter operating earnings. “The result for …
- SportsUS and World News
Olympics-IOC says ‘Where is Peng Shuai?’ answered, to meet her again in summer
by Reutersby ReutersBEIJING – The International Olympic Committee (IOC) has answered the question of the whereabouts of Chinese tennis player Peng Shuai after meeting her during the Beijing Olympics, IOC President Thomas …