Article content NEW YORK — The U.S. Securities and Exchange Commission on Friday sued a Florida firm it said raised at least $410 million by fraudulently promising investors access to private companies that had potential to conduct initial public offerings. In a civil complaint filed in Manhattan federal court, the SEC also sought asset freezes […]
Article content BRASILIA — Brazil’s central bank presented to the Economy Ministry a proposal for a 22% raise for its employees starting in June amid a strike for wage increases, according to an internal statement on Thursday. Two sources from the Economy Ministry confirmed the request on condition of anonymity. One of them stressed that […]
Article content San Francisco Federal Reserve President Mary Daly on Thursday said she backs the plan to hike interest rates laid out by Fed Chair Jerome Powell and would like to see financial conditions tighten further to help bring inflation down. “Going up in 50-basis-point increments to me makes quite a bit of sense and […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Laura Sanicola Article content Oil prices rose on Thursday, reversing earlier losses, as supply concerns and geopolitical tension in Europe got the upper hand over the economic fears dogging financial markets as inflation soars. Brent crude rose 46 cents, or 0.4%, to $107.97 a barrel […]
Article content April inflation data were “hot” but do not yet require the Federal Reserve to switch to three-quarter point rate increases, St. Louis Fed president James Bullard said on Wednesday. The Fed’s plans for half point increases are “a good benchmark for now,” Bullard said on Yahoo Finance. Large increases are “not my base […]
Article content WASHINGTON — The U.S. National Labor Relations Board (NLRB) has asked a court to order the reinstatement of seven former Starbucks Corp employees in Memphis, Tennessee who it said were unlawfully fired for exercising their right to form a union. New Orleans-based NLRB Regional Director Kathleen McKinney filed a petition on Tuesday in […]
Article content Jerome Powell, nominated for a second term as chair of the U.S. Federal Reserve, could win Senate confirmation as soon as late Wednesday, according to a timeline outlined by Senate Banking Committee Chair Sherrod Brown. Lawmakers are also expected to vote on President Joe Biden’s other Fed nominee, Davidson College dean of faculty […]
Article content CHICAGO — Chicago Board of Trade grain and soybean futures jumped on Wednesday, as traders uneasy about world supplies adjusted positions a day before the release of U.S. crop data. Concerns about poor global crop weather helped support gains, with MGEX spring wheat futures setting contract highs as rains prevent plantings in the […]