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Dollar dips before Fed announcement, Aussie gains after rate hike NEW YORK, May 3 (Reuters) - The U.S. dollar fell against a basket of currencies on Tuesday, as investors evaluated how much of the Federal Reserve's expected move to hike rates this week and beyond was already priced in. The dollar index hit a 20-year ...
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BP profit more than doubles on 'exceptional' oil trading The UK-based energy giant said Tuesday that its underlying profit soared to $6.2 billion from $2.6 billion in the same period last year, boosted by "exceptional oil and gas trading" conditions. Oil prices have shot up by nearly 40% since the start of 2022, ...
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'Very, very unlikely' Fed can tame inflation without sparking recession, former NY Fed chief says New York (CNN Business) The Federal Reserve helped rescue the economy from the worst pandemic in a century. That task may prove easy compared with the Fed's next mission: crush inflation, without causing a recession.
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Lesson of the Day: The Math of Inflation Although a normal part of the economic cycle, when prices rise too rapidly as they are now, inflation affects consumers. But how much it concerns you can depend on how much money you make. In ...
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Meta Platforms Stock Is Down 38% YTD, Is It Attractive? The technology giant posted mixed results in the first quarter, with earnings beating expectations but revenues missing the mark. It reported total revenues of $27.9 billion – up 7% y-o-y. It was driven by a 6% rise in advertising revenues, followed by a ...
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Starbucks says employees getting new benefits, but not at stores that are unionizing "We do not have the same freedom to make these improvements at locations that have a union or where union organizing is underway," Schultz said on a conference call with shareholders on Tuesday. Starbucks said ...
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JetBlue tried, but Spirit said it wants Frontier: How will fliers fare? Passengers check-in for flights with Spirit Airlines at O'Hare International Airport on. Will fares go up? Two budget carriers joining forces could mean higher fares for passengers. But ...
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4 things to know as the Fed embarks on its biggest fight against inflation in years The Federal Reserve is about to deliver its biggest punch yet in the fight against surging inflation. Policymakers start a two-day meeting on Tuesday, and they are widely expected to raise interest rates by half a percentage point — the largest rate ...
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VP Harris to meet with Amazon Labor Union and other grassroots organizers (CNN Business) Vice President Kamala Harris and Labor Secretary Marty Walsh will meet with union leaders Thursday including Christian Smalls, the former Amazon employee who helped successfully organize workers at an Amazon (AMZN) facility in Staten ...
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HSBC's biggest shareholder reignites debate about breaking up the bank The Chinese insurer has been calling for HSBC (HSBC) to explore a reorganization, with an eye on boosting its valuation, as well as simplifying its regulatory requirements around the globe, the person told CNN Business.
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