Reuters USA

WASHINGTON (Reuters) – Tight monetary policy is “unequivocally” slowing the U.S. economy, allowing the Federal Reserve to move “more deliberately” with any further interest rate increases, Richmond Fed President Thomas Barkin said on Thursday. “I’m confident that our foot is unequivocally on the brake,” Barkin said in a podcast posted to the Richmond Fed’s website. …

Fed’s foot ‘unequivocally’ on brake, sensible to move slower, Barkin says Read More »

By Priyamvada C (Reuters) -Hilton Worldwide Holdings Inc on Thursday missed its room growth expectations for 2022, pressured by a volatile COVID-19 environment in China, a key tourism market where hotel operators have struggled to expand last year. Hilton, which owns brands including Waldorf Astoria Hotels & Resorts, reported a net unit growth of 4.7% …

Hilton misses 2022 room growth view on China COVID curbs; Q4 profit jumps Read More »

By Mehr Bedi (Reuters) -Kellogg Co surpassed market expectations for quarterly sales and profit on Thursday and said it would retain the plant-based meat business it had planned to spin-off. The Pringles maker had last year announced plans to separate the MorningStar Farms unit, representing 2% of the group’s sales, to focus on its mainstay …

Kellogg’s sales and profit beat estimates, to retain plant-based meat business Read More »

(Reuters) -Canopy Growth Corp said on Thursday it would shed assets in Canada and cut 800 job positions, as part of the pot producer’s efforts to reduce costs and turn profitable. U.S.-listed shares of Canopy were down 7.3% at $2.54 in premarket trade after the company also reported a bigger quarterly loss. The company has …

Canopy Growth sheds assets in Canada, plans more layoffs Read More »

By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) -Lower export volumes saw Russia’s current account surplus shrink 58.2% to $8 billion in January, the central bank said on Thursday, squeezing Russia’s capital buffers at a time when Moscow is ramping up budget spending. Russia’s current account surplus hit a record high in 2022, as a …

Russia’s current account surplus shrinks 58.2% in Jan as exports fall Read More »

(Reuters) – Walt Disney Co CEO Bob Iger dazzled Wall Street on Wednesday with sweeping changes and billions of dollars in cost cuts, and some analysts are convinced that will be enough to sway its harshest critic – activist investor Nelson Peltz. In his first earnings call since returning to the top job in November, …

Bob Iger’s Disney revamp could keep critic Peltz ‘at bay’ Read More »

By Daphne Psaledakis WASHINGTON (Reuters) -The United States on Thursday imposed sanctions on companies it accused of playing a critical role in the production, sale and shipment of Iranian petrochemicals and petroleum to buyers in Asia, as Washington increases pressure on Tehran. The U.S. Treasury Department in a statement said it imposed sanctions on six …

U.S. targets Iranian petrochemicals, petroleum in fresh sanctions Read More »

CAIRO (Reuters) – Egypt’s annual urban consumer price inflation jumped to a higher-than-expected 25.8% in January, its fastest in more than five years, data from statistics agency CAPMAS showed on Thursday. The rise from 21.3% in December followed a series of currency devaluations starting in March 2022, a prolonged shortage of foreign currency, and continuing …

Egypt’s headline inflation surges to 25.8% in January Read More »

By Raphael Satter WASHINGTON (Reuters) -The United States has imposed sanctions against seven leading members of a notorious Russian hacking gang known as Trickbot, the Treasury announced on Friday. Trickbot’s malicious software at one point was counted among one of the internet’s most pernicious security threats, capable of stealing financial data, spreading across networks, and …

U.S. imposes cyber-related sanctions on Trickbot hacking gang Read More »