Business

WASHINGTON (Reuters) – U.S. consumer prices rose more than expected in January as Americans paid more for gasoline, rental accommodation and healthcare, raising pressure on new Federal Reserve chief Jerome Powell to prevent a possible overheating of the economy. The report from the Labor Department on Wednesday, however, likely overstates the inflation picture given that
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(Reuters) – U.S. stocks rose on Wednesday as investors digested a stronger-than-expected inflation data and a surprise drop in January retail sales, which shifted the focus from rising inflation to the prospect of stagflation. The Labor Department’s core Consumer Price Index, which excludes the volatile food and energy components, increased 0.3 percent in January, while
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BERLIN (Reuters) – Airbus Group (AIR.PA) said on Wednesday it has appointed Bruno Even as head of its helicopter division, effective from April 1. Even, 49, was CEO of the helicopter engines business at Safran (SAF.PA), and succeeds Guillaume Faury, who is moving to become president of Airbus Commercial Aircraft. Airbus Helicopters has suffered from
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(Reuters) – U.S. stock futures pointed to a positive start for Wall Street on Wednesday ahead of a hotly-awaited reading on inflation seen as crucial to the fate of a two-week old downturn. The data due at 8:30 a.m. ET is expected to show U.S. consumer prices increased solidly in January, boosted by rising gasoline
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GUNSAN/SEOUL (Reuters) – General Motors’ (GM.N) workers at a South Korean plant staged a protest on Wednesday against its planned closure, calling the move by the U.S. automaker a “death sentence”, and threatening a strike. In the city of Gunsan, where the factory with 2,000 workers is, shuttered store fronts and empty streets near the
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LONDON (Reuters) – The dollar slid to a 15-month low against the yen on Wednesday, while world stock markets found firmer ground ahead of U.S. inflation numbers that could soothe, or inflame, fears of faster interest-rate hikes globally. European stock markets opened the day higher, with blue-chip indexes in London .FTSE, Paris .FCHI and Frankfurt
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SEOUL (Reuters) – Workers at a General Motors (GM) plant in South Korea that the U.S. automaker plans to close staged a protest on Wednesday, calling the decision a “death sentence” and threatening a strike. GM announced on Tuesday it will shutter the plant in Gunsan, in South Korea’s southwest, by May and decide within
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(Reuters) – Chipotle Mexican Grill Inc (CMG.N) has hired Brian Niccol, known for bringing “Doritos Locos Tacos” and mobile ordering to Taco Bell, as its next chief executive to turnaround the once red-hot burrito chain that has been battered by food safety lapses. Shares of Denver, Colorado-based Chipotle were up 11.8 percent at $281.03 in
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WILMINGTON, Del. (Reuters) – A group of 13 automakers will contribute as much as $130 million to compensate those injured by faulty Takata Corp (TKTDQ.PK) air bag inflators as part of a deal to resolve the Japanese company’s bankruptcy, a U.S. plaintiffs’ attorney told Reuters. The agreement clears the way for the sale of Takata’s
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(Reuters) – Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple, while investors focused on inflation data on Wednesday that could upset the market’s fragile recovery – or clear the way for additional gains. Amazon.com (AMZN.O) rose 2 percent while Apple (AAPL.O) added 1 percent, both helping the S&P
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(Reuters) – Xerox Corp (XRX.N) shareholder Darwin Deason asked courts on Tuesday to block the company’s merger with Japan’s Fujifilm Holdings (4901.T), claiming board members at the U.S. photocopier maker had failed in their duty to shareholders. Deason and fellow shareholder Carl Icahn have been fighting to stop Fujifilm from taking over Xerox in a
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