WASHINGTON (Reuters) – The White House said it was not prepared to withdraw President Joe Biden’s pick for budget director, Neera Tanden, whose nomination stalled on Capitol Hill on Wednesday after controversy over tweets that upset lawmakers. Two Senate committees postponed scheduled meetings to consider Tanden’s nomination, a clear sign she was struggling to get the votes to be approved […]

FILE PHOTO: A man talking on his phone walks past the logo of LG Electronics during Korea Electronics Show 2016 in Seoul, South Korea, October 27, 2016. REUTERS/Kim Hong-JiSEOUL (Reuters) – U.S.-based hedge fund Whitebox Advisors LLC said on Wednesday it intends to vote against LG Corp’s spin-off plan in a shareholder meeting expected on March 26. Whitebox Advisors, a […]

FILE PHOTO: Federal Reserve Vice Chair Richard Clarida reacts as he holds his phone during the three-day “Challenges for Monetary Policy” conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby(Reuters) – Federal Reserve Vice Chair Richard Clarida said on Wednesday that he’s “bullish” on the outlook for the U.S. economy and sees inflation at the Fed’s 2% goal […]

NEW YORK (Reuters) – A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears a robust recovery would drive inflation higher.FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in […]

Charlie Munger said the momentum-driven trading frenzy by amateur investors on commission-free trading platforms like Robinhood will not end well. The vice chairman of Berkshire Hathaway and Warren Buffett's longtime business partner believes retail traders are enticed by brokers touting free trading. "It's most egregious in the momentum trading by novice investors lured in by new types of brokerage operation […]

NEW YORK (Reuters) – Italian defence and aerospace group Leonardo plans to list up to 30% of its defence electronics division DRS in New York later this year, three sources close to the matter said.FILE PHOTO: A hostess walks past a Leonardo’s helicopter logo at the headquarters in Vergiate, near Milan, Italy, January 30, 2018. REUTERS/Massimo PincaThe Rome-based group has […]

FILE PHOTO: A view shows vehicles driving on a street in Riyadh, Saudi Arabia February 16, 2021. REUTERS/Ahmed YosriDUBAI (Reuters) – Saudi Arabia’s Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern Asir region, the state news agency SPA reported on Wednesday. The kingdom, which opened its doors […]

MILAN (Reuters) – Milan prosecutors said on Wednesday they had ordered four major food delivery companies to officially hire more than 60,000 workers and pay a total of 733 million euros ($889 million) in fines after an investigation showed their working conditions were inadequate.FILE PHOTO: An Uber Eats food delivery courier’s backpack in Amsterdam, Netherlands March 25, 2020. REUTERS/Eva PlevierThe […]

Slideshow ( 4 images )NEW YORK (Reuters) – U.N. aid chief Mark Lowcock urged Gulf states to step up next Monday when the world body seeks to avert a large-scale “man-made” famine in Yemen by raising $3.85 billion for humanitarian operations in the war-torn Arabian Peninsula country for 2021. The United Nations describes Yemen as the world’s largest humanitarian crisis, […]