Author: Press Room

© Reuters. U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, U.S., June 8, 2022. REUTERS/Jonathan Ernst/File Photo By David Lawder MEXICO CITY (Reuters) -U.S. Treasury Secretary Janet Yellen said on Tuesday that economists who predicted that high U.S. unemployment would be needed to tame inflation are “eating their words” as the economy experiences little weakness in the labor market and consumer demand with prices moderating. “We’re not seeing the usual signs of a weakening labor market that would make you fear a…

© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect NEW YORK – Shares of FirstEnergy Corp. (NYSE:) edged lower today, closing at $37.05, a slight decline of 0.32%. The move came as the broader market faced losses, with the S&P 500 Index falling to 4,567.18 and the dropping to 36,124.56. The Ohio-based utility company’s stock is currently trading below its previous year’s high by $6.26, which was $43.31 on January 17th. In comparison to its industry peers, FirstEnergy’s performance has shown some variance; while competitors NextEra Energy (NYSE:) and Southern Co (NYSE:). experienced declines in their stock values, Dominion Energy…

© Reuters. FILE PHOTO: Swedish and NATO flags are seen printed on paper this illustration taken April 13, 2022. REUTERS/Dado Ruvic/Illustration/File photo STOCKHOLM (Reuters) – The United States and Sweden on Tuesday signed a Defence Cooperation Agreement, the U.S. Department of State said, as the Nordic country strengthens military alliances while waiting for approval to join NATO. “Sweden is a strong, capable defense partner that champions NATO’s values, and will further strengthen the Alliance once its NATO accession is completed,” the State Department said in a written statement. “Sweden’s membership will strengthen our collective defense and enhance our ability to…

Dazman/E+ via Getty Images Rio Tinto (NYSE:RIO) said Tuesday it estimates its initial share of capital spending to develop the Simandou iron ore project in Guinea and associated rail and port infrastructure would total ~$6.2B. Simandou is considered the world’s largest untapped high-grade iron ore deposit; the company owns two of four Simandou mining blocks as part of its Simfer joint venture with China’s Chalco Iron Ore Holdings and the government of Guinea. Rio (RIO) said it expects first production from the Simfer mine in 2025, taking ~30 months to ramp up to a capacity of 60M metric tons/year, with…

EXCLUSIVE: President Biden’s re-election campaign is expected to raise more than $15 million this week as he travels across the nation for multiple high-profile and star-studded fundraising events, Fox News Digital has learned.Two sources close to the campaign and familiar with the president’s fundraising efforts told Fox News Digital that the more $15 million will also include small-dollar donations.BIDEN TO CRISSCROSS COUNTRY FOR CAMPAIGN FUNDRAISERS WITH STEVEN SPIELBERG, JAMES TAYLOR President Joe Biden arrives to board Air Force One at Joint Base Andrews in Maryland, on August 15, 2023. (ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)The president attended a fundraising event in…

Trump’s NY civil fraud trial is in its tenth week.Tuesday, a Palm Beach real estate broker testified on Trump’s behalf that Mar-a-Lago is worth $1 billion.The AG can “come and visit any time,” he said, adding of Trump,  “I’ll make sure he’s not there.”  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app No word yet on whether they should bring bathing suits.The New York attorney general and the judge in Donald Trump’s New York fraud trial have a standing invitation to visit Mar-a-Lago “any…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.While South Korea has a reputation for innovation, its economic development over the past half-century has been driven in large part by its ability to “absorb” and develop technologies — whether in the chip, battery, auto or shipbuilding sectors — that were invented elsewhere.This was achieved principally through officially sanctioned “technical co-operation” with US and Japanese companies long since replaced as market leaders by their former partners. But it was sometimes supplemented by sharper practices. In one famous case dating back to…

© Reuters. FILE PHOTO: U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Hari Kishan BENGALURU (Reuters) – The dollar will loosen its grip on other G10 currencies in 2024, with a dimmer outlook for the currency as the U.S. Federal Reserve was expected to start cutting interest rates next year, a Reuters poll of FX strategists found. Dominating currency markets since mid-2021, the dollar stayed relatively strong for the better part of this year but lost momentum after a few Fed officials made dovish comments last week. Erasing all of…

© Reuters Investing.com– Shares of South Korean entertainment agency YG Entertainment Inc (KQ:) rallied over 20% on Wednesday after the firm said it had signed a new, exclusive contract with all four members of hit music group Blackpink. The firm said in a disclosure statement that its board had agreed to the signing of an exclusive contract with Blackpink, ending months of speculation over whether the group would stick with YG after their contract ended earlier this year.  Blackpink is one of the most successful all-female music acts in the world, with an audience well beyond its South Korean market.…

© Reuters (Reuters) – The U.S. Coast Guard said on Wednesday it was responding to an oil discharge near the Main Pass Oil Gathering (MPOG) Co’s pipeline system in the Gulf of Mexico, while the main pipeline and several surrounding ones remained shut in. “The reported sheen is being investigated and has not been confirmed to be associated with the November 16 observed initial discharge,” the Coast Guard said. The Coast Guard had not yet identified any damage or indication of a leak after surveying the entire length of the pipeline along with 22.16 miles (36 km) of surrounding pipelines.…