News

September 22, 2021 (Reuters) – The Federal Reserve could wrap up the tapering of its bond purchases by the middle of next year, Federal Reserve Chair Jerome Powell said on Wednesday. Powell’s remark came at the beginning of his press conference following the release of the Fed’s latest policy statement in which it said “a […]

September 22, 2021 By Lucia Mutikani WASHINGTON (Reuters) – U.S. home sales fell in August as supply remained tight, but there are signs the surge in house prices and the COVID-19 pandemic-fueled demand have probably run their course. Still, prices remain high enough to keep some potential buyers from a hot housing market. The report […]

September 22, 2021 By Anshuman Daga and Andrew Galbraith SINGAPORE/SHANGHAI (Reuters) -China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, temporarily soothing fears of imminent contagion from the debt-laden property developer. Evergrande, Asia’s biggest junk-bond issuer, is so entangled with […]

September 22, 2021 (Reuters) – Half of Federal Reserve policymakers now expect to start raising interest rates next year and think rates should rise to at least 1% by the end of 2023, reflecting a growing consensus that gradually tighter policy will be needed to keep inflation in check. The swifter pace of interest rate […]

September 22, 2021 WASHINGTON (Reuters) – U.S. Republicans in Congress are refusing to back police reform measures that former President Donald Trump supported, White House press secretary Jen Psaki said. Bipartisan talks over police reform legislation have fallen apart, Senator Cory Booker, a New Jersey Democrat, said earlier on Wednesday. “Unfortunately Republicans rejected reforms that […]

September 22, 2021 WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken said on Wednesday he would personally convene world foreign ministers before the end of the year to follow up on commitments made toward fighting the coronavirus pandemic. At a virtual COVID-19 summit on the sidelines of the UN General Assembly, President Joe Biden […]

September 22, 2021 By Howard Schneider WASHINGTON (Reuters) -The Federal Reserve on Wednesday cleared the way to reduce its monthly bond purchases “soon” and signaled interest rate increases may follow more quickly than expected, with nine of 18 U.S. central bank policymakers projecting borrowing costs will need to rise in 2022. The actions, which were […]

September 22, 2021 By Caroline Valetkevitch NEW YORK (Reuters) – U.S. companies have retained strong profit margins through the pandemic because they have cut costs and passed along high prices to customers. The question is: How long can this go on? With inflation still strong, the ability for companies to keep margins at record levels […]

September 22, 2021 WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen spoke with British finance minister Rishi Sunak on Wednesday about ongoing global tax reform efforts, and underscored the need for a compromise on withdrawal of digital services taxes, the Treasury said. Yellen also thanked Sunak for his leadership of the G7 and in talks […]

September 22, 2021 By Sohini Podder, Echo Wang and Krystal Hu (Reuters) -Toast Inc fetched a valuation of nearly $33 billion in its New York Stock Exchange debut on Wednesday, as shares of the restaurant software provider jumped 63%, underscoring a deep investor appetite for fast-growing software firms. The stock opened at $65.26, compared with […]

Buying and selling on marketplace websites like Craigslist and Facebook Marketplace often lead to meeting a stranger somewhere to complete the purchase and pick up the item. With over 1 billion Facebook Marketplace users per month, Nymbull founder Jackson Wegelin doesn’t think that’s necessary for peer-to-peer transactions. And he estimates that between interacting with potential […]

September 22, 2021 (Reuters) – Kenya’s Mary Keitany, the world record holder for a women-only marathon, announced her retirement on Wednesday at the age of 39 due to a back injury. Keitany set the record in her third London Marathon win in 2017, finishing in a time of two hours 17 minutes and one second. […]

September 22, 2021 (Reuters) -The term ‘batsman’ has been amended to the gender-neutral term ‘batter’ in the Laws of Cricket to stress the importance of the women’s game, the Marylebone Cricket Club said on Wednesday. England beat India in the 2017 women’s World Cup final in front of a capacity crowd at Lord’s while the […]

September 22, 2021 By Steve Keating KOHLER, Wisconsin (Reuters) – A fast start could be the key to another Europe Ryder Cup victory, says Tony Jacklin, the four-times team captain, noting that Padraig Harrington’s men could take a lesson from the women who shot out of the blocks on the way to winning the Solheim […]

September 22, 2021 By John McCrank NEW YORK (Reuters) – Robinhood Markets Inc said on Wednesday it plans to begin testing cryptocurrency wallets next month, with a broader rollout in early 2022, allowing its users to move supported digital currencies in and out of their brokerage accounts. The Menlo Park-based retail brokerage currently allows buying, […]

September 22, 2021 By Steve Keating KOHLER, Wisconsin (Reuters) – Patrick Cantlay has earned a reputation as being a deep thinker and the American flexed those credentials on Wednesday when he used the card game gin, roulette and mathematics in his bid to explain why Europe dominates the Ryder Cup. The reigning PGA Tour Player […]

September 22, 2021 By Timothy Gardner WASHINGTON (Reuters) – U.S. oil majors Exxon Mobil Corp and Chevron Corp have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body on which the companies have board seats, EITI said on Wednesday. Exxon and Chevron have declined to publicly […]

September 22, 2021 (Reuters) – Following is the full statement issued by the Federal Open Market Committee on Sept. 22, 2021: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. With progress on vaccinations […]

September 22, 2021 (Reuters) – Ferrari’s Charles Leclerc will start Sunday’s Russian Formula One Grand Prix from the back of the grid due to a change of power unit, the Italian team said on Wednesday. Ferrari said they would be introducing an updated hybrid system in Sochi, mainly to gain experience with it for the […]

September 22, 2021 NEW YORK (Reuters) – The Federal Reserve on Wednesday cleared the way to reduce its monthly bond purchases “soon” and signaled interest rate increases may follow more quickly than expected, with nine of 18 U.S. central bank policymakers projecting borrowing costs will need to rise in 2022. The actions, which were included […]