By Nandita Bose, Andrea Shalal and Rami Ayyub WASHINGTON (Reuters) -U.S. Labor Secretary Marty Walsh will step down from his position, a person with knowledge of the matter said on Tuesday as media outlets reported he would move on to lead the National Hockey League (NHL) Players’ Association. Walsh, a former Boston mayor and labor …
Biden’s Labor Secretary Walsh to depart, reportedly to head up hockey union Read More »
By Carolina Mandl and Johann M Cherian (Reuters) – U.S. stocks rallied to a convincingly higher close on Tuesday, but trade was choppy as investors digested comments from Federal Reserve Chair Jerome Powell about how long the central bank may need to tame inflation. Powell said 2023 should be a year of “significant declines in …
Wall Street rallies but trade choppy as investors digest Powell comments Read More »
By Howard Schneider and Andrea Shalal WASHINGTON (Reuters) – After vouching last week that a “gratifying” drop in inflation was underway, Federal Reserve Chair Jerome Powell will face questions on Tuesday about whether a blowout January jobs report has shaken his confidence the decline can continue without harsher steps by the U.S. central bank to …
Do blockbuster job gains jibe with ‘slow-flation’? Fed’s Powell faces new dilemma Read More »
By Jody Godoy (Reuters) -Wells Fargo & Co agreed to pay $300 million to settle a shareholder lawsuit claiming the bank hid that it had pushed unnecessary insurance on auto loan customers, according to documents filed in U.S. court on Tuesday. The Construction Laborers Pension Trust for Southern California, which led the class action brought …
By David Shepardson WASHINGTON (Reuters) – A U.S. Senate committee on Tuesday set a third confirmation hearing for the Biden administration’s nominee to a seat on the Federal Communications Commission that has been vacant for more than two years. President Joe Biden last month renominated Gigi Sohn, a former FCC senior official under President Barack …
U.S. Senate panel sets new hearing for Biden telecom nominee Read More »
By Kanishka Singh and Nandita Bose WASHINGTON (Reuters) – U.S. President Joe Biden’s State of the Union address on Tuesday will feature a guest list that includes a man who disarmed a gunman who killed 11 people, a former Afghan ambassador, and the family of Tyre Nichols, who died after being beaten by Memphis police. …
Factbox: Biden’s State of the Union guests include Monterey Park hero, ex-Afghan envoy Read More »
(Reuters) – Prudential Financial Inc reported a roughly 26% fall in fourth-quarter adjusted profit on Tuesday as a global market rout pressured the insurer’s assets under management (AUM). The previous year was marked by heavy losses in the capital markets amid uncertainty triggered by the war in Ukraine, decades-high inflation and fears of an imminent …
Prudential Financial profit falls 26% as market rout drags AUM Read More »
WASHINGTON (Reuters) -U.S. Representative George Santos is facing ethics complaints from fellow members of Congress, but the House Ethics Committee has not yet been organized for the next two years and thus cannot launch any potential investigation, an aide to Speaker Kevin McCarthy said on Tuesday. “There’s no investigation, as the Ethics Committee hasn’t organized …
U.S. House Ethics panel has not yet launched probe of Rep. Santos -McCarthy aide Read More »
(Reuters) -Shares of Bed Bath & Beyond Inc slumped nearly 40% in early trading on Tuesday after the retailer’s plans to raise about $1 billion through an offering failed to convince investors the company could avoid bankruptcy. The additional cash would offer the troubled home goods chain a short window of only a few quarters …
Bed Bath & Beyond plunges after last-ditch effort to avoid bankruptcy Read More »
By Noor Zainab Hussain, Mike Spector and Jessica DiNapoli (Reuters) -Bed Bath & Beyond Inc said on Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants in a last-ditch effort to stave off bankruptcy. The home goods retailer said in securities filings that if it can’t complete …
Bed Bath & Beyond moves to raise $1 billion to avoid bankruptcy Read More »
