Articles by Editor

The nation’s major credit reporting agencies faced renewed scrutiny from Congress on Tuesday, as lawmakers consider legislation overhauling the industry.

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Oil futures inched up on Tuesday after news that OPEC would continue production cuts despite comments from U.S. President Donald Trump, who criticized the producer group for rising crude prices a day earlier.

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The Federal Reserve is in “no rush to make a judgment” about further changes to interest rates, Fed Chairman Jerome Powell told U.S. lawmakers on Tuesday as he spelled out the central bank’s approach to an economy that is likely slowing.

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U.S. equities swerved between positive and negative territory on Tuesday as investors eyed mixed economic data and corporate news while Federal Reserve comments calmed some nerves.

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Rising risks and recent soft data shouldn’t prevent solid growth for the U.S. economy this year, but the Federal Reserve will remain “patient” in deciding on further interest rate hikes, Fed Chairman Jerome Powell said on Tuesday.

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U.S. refiner Citgo Petroleum Corp is formally cutting ties with its parent, state-run oil firm Petroleos de Venezuela SA, to meet U.S. sanctions imposed on the OPEC country, two people close to the decision told Reuters on Tuesday.

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Facts not fears should decide the future of telecoms network security in Europe, industry leaders and policy chiefs said this week, brushing off U.S. calls for a ban on Chinese vendors.

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(This Feb 22. story has been refiled to say ‘a’ rate cut not ‘another’ rate cut in first paragraph and headline)

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Fiat Chrysler Automobiles NV said on Tuesday it will cut nearly 1,400 jobs at an Illinois assembly plant where it builds the Jeep Cherokee sport utility vehicle.

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Walmart Inc will consolidate advertising sales for its stores and websites, it said on Tuesday, aiming to boost profits from an untapped business as the world’s largest retailer competes with marketing titans Amazon.com Inc, Alphabet Inc’s Google and Facebook Inc.

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U.S. senators called drug pricing practices “morally repugnant” and told drug company executives they do not want to hear them blame others for the high prices, taking an aggressive stance at a Senate hearing on the rising costs of prescription medicines.

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U.S. stocks were little changed in choppy trading on Tuesday, as gains in technology sector were offset by losses in shares of consumer discretionary companies including Home Depot and Discovery.

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JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Tuesday it expects to face rising costs for deposits, a key part of its business, and slowing global economic growth.

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Fiat Chrysler Automobiles NV said on Tuesday it will invest $4.5 billion in five plants to build new models of Jeeps to compete more effectively in the lucrative market for full-size, three-row SUVs currently dominated by rivals General Motors Co and Ford Motor Co.

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