By Lewis Krauskopf NEW YORK (Reuters) -A surprisingly hot inflation report for June is complicating the outlook for markets, as investors brace for more hawkishness from the Federal Reserve and continued volatility in stocks and bonds. Wall Street met the number, which showed consumer prices rising by a greater-than-expected 9.1% […]
One America News Network
Bank of Canada surprises with 100bp rate hike to tame inflation
By Julie Gordon and Steve Scherer OTTAWA (Reuters) – The Bank of Canada on Wednesday raised its main interest rate by 100 basis points in a bid to crush inflation, surprising markets and becoming the first G7 country to make such an aggressive hike in this economic cycle. The central […]
Bank of Canada’s jumbo rate hike set to slow lenders’ earnings growth
(Corrects second byline) By Saeed Azhar and Sinéad Carew NEW YORK (Reuters) -Bank of Canada’s surprise full percentage point interest rate hike on Wednesday could put the brakes on the country’s once-frothy housing market and weigh on banks’ profits after strong mortgage growth emerged as the main growth engine during […]
Hot inflation fuels bets on supersized Fed rate hike
By Lindsay Dunsmuir and Ann Saphir (Reuters) -The U.S. Federal Reserve is seen ramping up its battle with 40-year high inflation with a supersized 100 basis points rate hike this month after a grim inflation report showed price pressures accelerating. “Everything is in play,” Atlanta Fed President Raphael Bostic told […]
Panasonic to build EV battery plant for Tesla in Kansas -Nikkei
(Reuters) – Panasonic Holdings Corp will invest several billion dollars in a factory in Kansas to supply a new high-capacity battery for Tesla’s electric vehicles, Nikkei reported https://s.nikkei.com/3c4Fr45 on Wednesday. The report came after Tesla Chief Executive Elon Musk said it was having difficulty in boosting the production of its […]
Delta warns of rising costs after missing earnings estimates
By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines Inc on Wednesday posted a lower-than-expected second-quarter profit and warned that cost pressures would remain elevated through the year as it battles operational challenges, sending its shares lower. U.S. carriers are enjoying the strongest summer travel season in three years as […]
Wall St ends down as hot inflation data raises odds of steep Fed rate hike
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed modestly lower on Wednesday after investors digested hotter-than-expected U.S. inflation data, which fueled fears that the Federal Reserve could raise key interest rates by as much as 100 basis points later this month. While all three major U.S. equity indexes […]
Netflix names Microsoft as partner for ad-supported subscription plan
(Reuters) -Netflix Inc said on Wednesday it has selected Microsoft Corp as technology and sales partner for its planned ad-supported subscription offering, as the streaming giant looks to plug slowing subscriber growth by rolling out a cheaper plan. Shares of Netflix rose 2% to $178.06 on the news. Netflix said […]
Geopolitical Analyst Reacts to President Biden’s Trip to Middle East
OAN NEWSROOMUPDATED 10:35 AM PT – Wednesday, July 13, 2022 All eyes are on President Joe Biden as he embarks on his trip to the Middle East, making stops in Israel and Saudi Arabia. One America’s Stephanie Myers spoke with Geopolitical Analyst Harley Lippman about how this will affect US […]
Senate GOP addresses concerns over Democrat attempt to revive Build Back Better
FILE – Sen. John Thune, R-S.D., speaks during a news conference on Capitol Hill in Washington, Dec. 7, 2021. (AP Photo/Carolyn Kaster File) OAN NEWSROOMUPDATED 10:22 AM PT – Wednesday, July 13, 2022 Senate Republicans are addressing concerns over a potential attempt by Democrats to revive their Build Back Better […]