News

Wall Street rises but ends well off day’s highs amid renewed Middle East jitters

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended higher on Wednesday, but the day’s uneven path showed investors’ sensitivity to any signs of turmoil in the Middle East, with stocks rising on comments by President Donald Trump and paring gains on reports of blasts in Baghdad. Trump spoke at a White House briefing […]

News

World Bank trims 2020 growth forecast amid slow recovery for trade, investment

By David Lawder WASHINGTON (Reuters) – The World Bank on Wednesday trimmed its global growth forecasts slightly for 2019 and 2020 due to a slower-than-expected recovery in trade and investment despite cooler trade tensions between the United States and China. The multilateral development bank said 2019 marked the weakest economic expansion since the global financial […]

News

Walmart opened 134 stores in Mexico in 2019, biggest expansion in six years

By Daina Beth Solomon MEXICO CITY (Reuters) – Walmart last year launched its biggest expansion in Mexico since 2013, opening 134 new stores in its top foreign market and boosting its presence by nearly 5%, the retailer said Wednesday. Walmart now runs 3,407 stores in Mexico, where it has more locations than in any other […]

News

JPMorgan Chase raises fee on popular Sapphire Reserve credit card

NEW YORK (Reuters) – JPMorgan Chase & Co <JPM.N> said on Wednesday it was raising the annual fee for its popular Chase Sapphire Reserve credit card by $100, according to a press release from the bank. Starting on Jan. 12, all new applicants for the card will be charged a $550 annual fee, up from […]

News

U.S. House to vote this week to limit Trump’s military actions on Iran: Pelosi

WASHINGTON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi said on Wednesday the House would vote on a resolution intended to limit President Donald Trump’s military actions regarding Iran, stating that concerns about the administration’s strategy and decisions were not addressed in a briefing with lawmakers. Pelosi said on Monday the House would vote […]

News

Exclusive: China suspends national rollout of ethanol mandate – sources

By Hallie Gu, Muyu Xu and Shivani Singh BEIJING (Reuters) – China has suspended its plan to implement a nationwide gasoline blend containing 10% ethanol this year, three sources briefed on the matter said, following a sharp decline in the country’s corn stocks and limited production capacity of the biofuel. The reversal is a heavy […]

News

U.S. outlines strong support for self-driving cars at CES

By David Shepardson LAS VEGAS (Reuters) – The Trump administration on Wednesday signaled strong support for self-driving vehicles as it released new guidance from federal agencies at the annual CES tech conference. U.S. Transportation Secretary Elaine Chao unveiled the administration’s latest principles for autonomous vehicles — dubbed 4.0, which she says unifies autonomous efforts across […]

News

Oil slides, stocks soar as Mideast conflict worries fade

By Herbert Lash NEW YORK (Reuters) – Oil prices tumbled and equity markets soared on Wednesday after U.S. President Donald Trump said an Iranian missile strike on bases in Iraq had not harmed American troops and damage was minimal, showing Tehran wanted to de-escalate the Middle East standoff. Iran fired missiles at military bases housing […]

News

No sign of end to standoff over Trump impeachment trial

By Susan Cornwell and David Morgan WASHINGTON (Reuters) – Senate Republican Majority Leader Mitch McConnell said on Wednesday there would be no haggling with the Democratic-led House of Representatives over the rules for U.S. President Donald Trump’s impeachment trial. With lawmakers’ shifting their attention to the U.S.-Iran tensions, McConnell said he would not be pressured […]

News

Deere bets on cost cuts, services push to boost profits

By Rajesh Kumar Singh CHICAGO (Reuters) – Deere & Co. <DE.N> on Wednesday said it will cut costs and ramp up investment in data-driven agriculture technology and its services business to make itself more profitable. In a pitch to investors, Chief Executive Officer John May said the measures are expected to boost operating profit margin […]