With a sale of Chinese yuan, Russia kicks off 2023 forex intervention

Reuters | January 11, 2023

By Guy Faulconbridge and Darya Korsunskaya MOSCOW (Reuters) -Russia said it would resume foreign currency interventions with the sale of yuan from Friday, underscoring the growing importance of China’s currency in Moscow’s efforts to ensure economic stability amid Western sanctions. After the West imposed the most severe sanctions in modern history over the war in […]

Southwest flight upheaval a ‘system failure,’ U.S. says

Reuters | December 29, 2022

By Kanishka Singh WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg on Wednesday ratcheted up pressure on Southwest Airlines, saying thousands more canceled flights indicated a system failure at the low-cost carrier. “We are past the point where they could say this is a weather-driven issue,” Buttigieg said in an interview posted by ABC News on […]

U.S. Senate advances $1.66 trillion government-funding bill

Reuters | December 21, 2022

By Richard Cowan and Gram Slattery WASHINGTON (Reuters) -A $1.66 trillion government spending bill drew overwhelming bipartisan support in the U.S. Senate on Tuesday as lawmakers steered it toward passage before a weekend deadline to avoid a partial shutdown of federal agencies. Democratic and Republican negotiators agreed early Tuesday morning on the sweeping bill to […]

U.S. to reveal scientific milestone on fusion energy -sources

Reuters | December 13, 2022

By Timothy Gardner WASHINGTON (Reuters) -The U.S. Department of Energy on Tuesday will announce that scientists at a national lab have made a breakthrough on fusion, the process that powers the sun and stars that one day could provide a cheap source of electricity, three sources with knowledge of the matter said. The scientists at […]

U.S. CFTC head urges Congress to act fast on crypto regulation

Reuters | December 1, 2022

By Hannah Lang and Chris Prentice (Reuters) -A leading U.S. financial regulator on Thursday urged lawmakers to act quickly to install a regulatory framework for digital assets following the spectacular collapse of cryptocurrency exchange FTX. In the first of several congressional hearings to examine FTX’s failure, members of the Senate Agriculture Committee pressed Rostin Behnam, […]

U.S. passenger railroad Amtrak ridership jumps by 10 million riders

Reuters | November 29, 2022

By David Shepardson WASHINGTON (Reuters) -U.S. passenger railroad Amtrak said ridership jumped by more than 10 million riders in the year ending Sept. 30 and has nearly returned to pre-COVID-19 levels. Amtrak said ridership rose 89% over 2021 levels to 22.9 million riders — up 10.8 million passengers over the prior year. Overall ridership hit […]

Kroger, Albertsons CEOs to face congressional questions on planned U.S. merger

Reuters | November 29, 2022

By Diane Bartz WASHINGTON (Reuters) – Kroger CEO Rodney McMullen and Albertsons’ top executive, Vivek Sankaran, will face questions this week on plans for the two giant grocery companies to merge in a $25 billion deal, Senator Amy Klobuchar’s office said in a statement. The hearing was called by Klobuchar along with Senator Mike Lee, […]

France’s Le Maire: Europe must defend its economic interests against U.S. subsidy package

Reuters | November 27, 2022

PARIS (Reuters) – France may try to negotiate some exemptions from the duties and limits imposed by the U.S. anti-inflation act but Europe must act to protect the bloc’s economic interests, Finance Minister Bruno Le Maire said on Sunday. Le Maire will accompany French President Emmanuel Macron on a state visit to the United States […]

Republican presses Twitter chief Elon Musk to better protect U.S. user data

Reuters | November 23, 2022

By Diane Bartz WASHINGTON (Reuters) – Top Senate Republican Chuck Grassley urged Elon Musk, who recently acquired Twitter, to conduct a threat assessment at the social company to better protect U.S. user data, following up on concerns raised by a whistleblower. Hacker Peiter “Mudge” Zatko, a whistleblower who served as Twitter’s head of security until […]

France, Germany urge firm European response to U.S. Inflation Reduction Act

Reuters | November 22, 2022

Market Recap U.S. Markets shrugged off global recession woes and rallied on Tuesday, led by retail stocks Best Buy (BBY), up 12%, Dick’s Sporting Goods (DKS), up 9.29%, and Walgreen’s (WBA), up 1.79%. The Dow Jones Industrial Average was up 260 points (+0.77%) in intraday trading, along with the S&P500 (+0.76%), Nasdaq (+0.52) and the Russell 2000 (+0.38). Crude Oil (WTI) rebounded +2.25% after a few days of […]

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