Breakfast in, shopping out: tourists to the U.S. hit by soaring dollar

Reuters | September 29, 2022

By Noel Randewich, John McCrank and Alun John SAN FRANCISCO/NEW YORK/LONDON (Reuters) – In the weeks before heading to San Francisco for their vacation this month, Jeff Skipper and his wife Valerie, from the United Kingdom, watched helplessly as the U.S. dollar continued its meteoric rise against the British pound. The sterling/dollar exchange rate – […]

U.S. new vehicle sales to increase on strong demand – report

Reuters | September 28, 2022

(Corrects grammatical error in paragraph 8) (Reuters) -U.S. new vehicle sales are set to rise in September as consumers spent more money on new vehicles than any previous September on record, an industry report from consultants J.D. Power-LMC Automotive showed on Wednesday. Customers have been unaffected by higher vehicle prices and lack of incentives or […]

Wells Fargo expects steeper U.S. rate hikes to quell rampant inflation

Reuters | September 27, 2022

(Refiles to add media packaging code) (Reuters) – Wells Fargo expects steeper rate hikes by the Federal Reserve due to resiliency of the U.S. economy and the central bank’s increased resolve to wring out inflation, the Wall Street bank’s economists said in a note on Tuesday. They had earlier forecast a 100-basis-point hike between now […]

FedEx needs to deliver on cost-cut plan as investor patience wanes -analysts say

Reuters | September 23, 2022

By Kannaki Deka and Lisa Baertlein (Reuters) -FedEx Corp’s new chief executive must show he can play catch up on costs without further eroding service, Wall Street analysts said on Friday, after the global delivery company laid out plans to slash up to $2.7 billion in expenses for fiscal 2023. FedEx’s plan announced on Thursday […]

Accenture warns of forex hit amid strong IT services’ demand

Reuters | September 22, 2022

By Chavi Mehta (Reuters) -Accenture Plc on Thursday warned this year’s dollar surge would hurt its fiscal 2023 results, even as robust demand for digital offerings helped the IT services major top quarterly earnings estimates. U.S. firms with large overseas operations such as Microsoft and Salesforce have in recent months flagged the toll from the […]

Walmart plans cautious holiday hiring amid slowing U.S. economy

Reuters | September 21, 2022

By Siddharth Cavale NEW YORK (Reuters) -Walmart Inc sounded a cautious note about holiday retail sales on Wednesday, planning to hire fewer workers than last year as it prepares for the critical season in the middle of a slowing economy. The largest U.S. retailer announced plans to add 40,000 workers in seasonal and full-time roles […]

Nvidia unveils new gaming chip with AI features, taps TSMC for manufacturing

Reuters | September 20, 2022

By Stephen Nellis (Reuters) – Nvidia Corp on Tuesday announced new flagship chips for video gamers that use artificial intelligence (AI) to enhance graphics, saying it has tapped Taiwan Semiconductor Manufacturing Co to make the processors. Nvidia has gained attention in recent years with its booming data center business, which sells chips used in artificial […]

China’s August gasoline exports nearly double from a year ago

Reuters | September 18, 2022

BEIJING (Reuters) – China’s August gasoline exports rose 97.4% from a year earlier, customs data showed on Sunday, as refiners took advantage of fresh export quotas amid faltering domestic demand. Gasoline shipments were at 1.12 million tonnes last month, while volumes for the January to August period were 30.4% lower than the corresponding period last […]

Germany takes control of Russian-owned refinery amid energy crisis

Reuters | September 16, 2022

By Markus Wacket and Paul Carrel BERLIN (Reuters) -Germany took control of a major Russian-owned oil refinery on Friday, risking retaliation from Moscow as Berlin strives to shore up energy supplies and meet its European Union commitment to eliminate Russian oil imports by the end of the year. The economy ministry said it was putting […]

Amtrak to resume normal operations Friday after labor deal

Reuters | September 15, 2022

By David Shepardson WASHINGTON (Reuters) -U.S. passenger railroad Amtrak said it will resume normal operations Friday as it works to quickly restore canceled trains after a freight rail labor deal was announced, averting a rail shutdown. Amtrak had announced on Wednesday that it would temporarily cancel all of its long-distance trains starting on Thursday – […]