Business

WASHINGTON (Reuters) —  The number of Americans filing new claims for unemployment benefits dropped to a 52-year low last week, suggesting economic activity was accelerating as a year marked by shortages, high inflation and an unrelenting pandemic draws to a close. The plunge in claims reported by …

(Reuters) — As Federal Reserve Chair Jerome Powell looks forward to four more years at the helm of the world’s most powerful central bank, attention is turning to the increasing likelihood he and his fellow policymakers will wean the U.S. economy off emergency support faster in the face of hi…

NEW YORK (Reuters) — Wall Street banks are planning for a sustained period of higher inflation, running internal health checks, monitoring whether clients in exposed sectors could pay back loans, devising hedging strategies and counseling caution when it comes to deals. U.S. consumer prices this mo…

WASHINGTON (Reuters) — The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to cool prices after OPEC+ producers repeatedly ignored calls for more crude.  President Joe Biden, facing l…

NEW YORK (Reuters) — Investors are betting that newly renominated Federal Reserve Chairman Jerome Powell will need to step up the pace at which the central bank is normalizing monetary policy to better grapple with surging consumer prices. For months, Powell has insisted the current bout of inflati…

Bank of Saipan is an official 2021 “Toys for Tots” partner this holiday season. Community members who would like to donate toys to the “Toys for Tots” program can drop off their donation at Bank of Saipan. The “Toys for Tots” program is a charitable initiative hosted by the U.S. Marine Corps Reserv…

WASHINGTON (Reuters) — Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden on Monday, extending a tenure that began somewhat by chance, survived blistering criticism from former President Donald Trump, and now positions the ex-investment banker to fi…

LONDON (Reuters) — Borrowing costs for U.S. dollars in currency derivatives markets rose on Monday to their highest levels in nearly a year, driven up by the year-end dollar funding rush and the euro’s steady slide against the greenback. Spreads on three-month euro-dollar cross-currency basis…

WASHINGTON (Reuters) — Corporate America mounted fresh attacks on Friday on President Joe Biden’s antitrust enforcers who have vowed to rein in anticompetitive practices and vigorously investigate corporate crime. The Chamber of Commerce wrote three letters and filed more than 30 Freedom of I…

(Reuters) — Disney World near Orlando, Florida, operated by Walt Disney Co, has put its Covid-19 vaccination mandate on hold, a spokesperson said on Saturday. The move comes amid the Biden administration’s workplace Covid-19 vaccine rule, which requires businesses with at least 100 employees …