Business

Job fears, price spikes mean heartburn for Biden White House as economy revs up

WASHINGTON (Reuters) – High unemployment. Rising prices. Gas lines.FILE PHOTO: U.S. President Joe Biden leaves after speaking about the coronavirus disease (COVID-19) response and the vaccination program from the Rose Garden of the White House in Washington, U.S., May 13, 2021. REUTERS/Kevin LamarqueThey’re a bad memory for Americans old enough to remember the 1970s – […]

Business

Reuters poll: Fed's core PCE inflation concern threshold is 2.8% – economists

BENGALURU (Reuters) – The Federal Reserve’s preferred inflation gauge would have to hit a high of 2.8% to discomfort U.S. policymakers, according to a Reuters poll which also suggested the central bank would tolerate that rate for three months at least before it acts.FILE PHOTO: Shoppers carry bags of purchased merchandise at the King of […]

Business

Analysis: What U.S. inflation signs would cause Fed to change course?

NEW YORK (Reuters) – A bigger-than-expected increase in U.S. consumer prices has put investors on high alert for more signs of inflationary pressure that could tilt the Federal Reserve toward raising interest rates.FILE PHOTO: Shoppers pass a spring window display at a Banana Republic store in the Manhattan borough of New York City, New York, […]

Business

Wall St drops at open as strong inflation stokes rate hike fears

FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid(Reuters) – Wall Street’s main indexes opened lower on Wednesday after stronger-than-expected inflation data fueled fears of tighter monetary policy to combat possibly a longer period of inflation. The Dow Jones Industrial […]

Business

Budweiser APAC to boost premium and non-beer offerings

FILE PHOTO: Corona beer is seen for sale at a supermarket in East Grinstead as the spread of the coronavirus disease (COVID-19) continues, East Grinstead, Britain, April 5, 2020. REUTERS/Adam OliverBEIJING (Reuters) – Budweiser Brewing Co APAC will step up promotion of premium beer brands including Hoegaarden and Corona and expand non-beer offerings, betting a […]

Business

ADB head urges fiscal resilience with eye on U.S. monetary normalisation

TOKYO (Reuters) – Emerging Asian countries must raise tax revenue and mobilise domestic financial resources as they brace for U.S. interest rate hikes that could cause another financial crisis, Asian Development Bank President Masatsugu Asakawa told Reuters.FILE PHOTO: Asian Development Bank President-elect Masatsugu Asakawa speaks during an interview with Reuters in Tokyo, Japan, November 29, […]

Business

MetLife moves past worst of pandemic as investment gains drive profit beat

FILE PHOTO: A statue stands atop Grand Central Station in front of the MetLife building in New York, October 8, 2008. REUTERS/Lucas Jackson (Reuters) – MetLife Inc said on Wednesday the worst of the pandemic was behind it after the U.S. insurer beat Wall Street estimates for first-quarter profit, with large investment gains cushioning the […]

Business

Asia shares subdued by tech retreat, U.S. futures steady

SYDNEY (Reuters) – Asian shares were trying to avoid a fourth straight session of falls on Wednesday as U.S. stock futures steadied in the wake of a pullback in large-cap tech darlings.FILE PHOTO: A man walks past a stock quotation board at a brokerage in Tokyo, Japan February 26, 2021. REUTERS/Kim Kyung-HoonHolidays in Japan, China […]

Economy

Yellen says US interest rates may have to rise if economy heats up; comments roil markets

WASHINGTON (AFP) – US interest rates may have to increase “somewhat” to keep a lid on inflation if President Joe Biden’s latest spending proposals are enacted and the economy heats up, Treasury Secretary Janet Yellen said on Tuesday (May 4). But after her comments set off a mini-firestorm and sent stock prices tumbling, Ms Yellen […]

Analysis & Comment

Atlantia investors to meet May 31 on CDP's sweetened bid for motorway unit

MILAN (Reuters) – Atlantia will ask shareholders on May 31 to assess an improved offer for its motorway unit presented by state investor CDP and its partners, the group controlled by Italy’s Benetton family said late on Friday.FILE PHOTO: The logo of an infrastructure group Atlantia is seen outside their headquarters, in Rome, Italy October […]