Stubbornly high rents and food prices boost US inflation in August

The consumer price index increases by 0.1% in August Rents, food and health care explain the rise in the CPI Core CPI jumped 0.6%; increased 6.3% year-over-year WASHINGTON, Sept 13 (Reuters) – U.S. consumer prices rose unexpectedly in August and core inflation accelerated amid rising rent and health care costs, giving the Federal Reserve ammunition … Read more

Biden administration urges unions, railroads to avoid shutdown

The United States Chamber of Commerce building is seen in Washington, DC, U.S., May 10, 2021. REUTERS/Andrew Kelly Join now for FREE unlimited access to Reuters.com Register WASHINGTON/LOS ANGELES, Sept 12 (Reuters) – The Biden administration has urged railroads and unions to reach a deal to avoid a rail work stoppage, saying on Monday it … Read more

Britain’s new leader Liz Truss finalizes huge electricity subsidy plan

Join now for FREE unlimited access to Reuters.com Register Truss will announce an energy support plan on Thursday The new Prime Minister rules out the exceptional tax on electricity companies Pound falls to lowest since 1985 against US dollar Kwarteng says borrowing will be higher BoE says support for energy could help calm inflation LONDON, … Read more

Britain’s new PM faces an 1980s reading list: recession, unrest and runaway prices

UK inflation higher than all major economies Truss the favorite to become the next Prime Minister The town of Runcorn shows the scale of the challenge RUNCORN, England, September 2 (Reuters) – Britain’s Prime Minister-in-Waiting Liz Truss is taking inspiration from Margaret Thatcher, judging by her photo ops echoing famous images of the country’s first … Read more

Bed Bath & Beyond to cut jobs and close stores in bid to reverse losses

Join now for FREE unlimited access to Reuters.com Register Aug 31 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) On Wednesday, it announced it had signed deals for more than $500 million in new funding and would close 150 stores, cut jobs and revamp its merchandising strategy in a bid to turn around its loss-making … Read more

Wall Street plummets for 4th straight session on Fed outlook

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 22, 2022. REUTERS/Brendan McDermid Join now for FREE unlimited access to Reuters.com Register Snap jumps as it restructures advertising business and lays off staff Bed Bath & Beyond sinks in corporate overhaul Dow down 0.57%, S&P 500 down … Read more

The Fed’s Powell triggered a 1,000 point rout in the Dow Jones. Here’s what investors should do next.

Now might be a good time to consider hiding in short-term Treasuries or corporate bonds and other defensive parts of the stock market. On Friday, Federal Reserve Chairman Jerome Powell spoke of a willingness to inflict “a bit of pain” on households and businesses in an unusually blunt speech from Jackson Hole that hinted at … Read more

Wall Street ends well as Powell speech affirms hawkish rate stance

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo Join now for FREE unlimited access to Reuters.com Register Fed will continue to tighten until inflation is under control – Powell Core PCE rises 0.1% in July compared to a rise of 0.6% … Read more

Fed minutes show more rate hikes in pipeline, but pace may slow

The Federal Reserve Building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 17 (Reuters) – Federal Reserve officials saw “little evidence” late last month that inflationary pressures in the United States were easing and strengthening to force the … Read more

EXCLUSIVE Biden’s emergency board calls for railroad wage hikes to resolve contract talks

U.S. President Joe Biden rides Air Force One as he departs for Washington, DC from Joint Base Charleston, South Carolina, U.S., August 16, 2022. REUTERS/Joshua Roberts Join now for FREE unlimited access to Reuters.com Register WASHINGTON/LOS ANGELES, Aug 16 (Reuters) – U.S. President Joe Biden’s emergency council tasked with helping major freight railroads and unions … Read more