 | | | | Some of Wall Street's biggest banks now expect four U.S. interest increases this year starting in March, a more aggressive call than a week ago even as the situation remains fluid given the possibility that the supply shock to the economy could ease and consumer prices could stabilize. | | | | | | Volkswagen AG expects inflation to ease later this year but warned there would be no significant improvement in the global semiconductor shortage, Chief Financial Officer Arno Antlitz told the Wall Street Journal in an interview. | | | | | | India has agreed to allow imports of U.S. pork and pork products into India, removing a longstanding barrier to U.S. agricultural trade, U.S. Trade Representative Katherine Tai and Agriculture Secretary Tom Vilsack said. | | | | | | Apparel retailer Abercrombie & Fitch Co said on Monday it expects fourth-quarter net sales to rise between 4% and 6%, or $1.17 billion to $1.19 billion, from the year-ago quarter. | | | | | | Federal Reserve Chair Jerome Powell pledged "to prevent higher inflation from becoming entrenched" in comments prepared for delivery at a congressional hearing on Tuesday where the high pace of price increases is likely to be a central topic. | | | | | | U.S. stocks ended down but well off their lows of the day, with the Nasdaq staging a furious comeback late in the session as some investors appeared to be hunting for bargains even as they worried about rising interest rates. | | | | | | Robinhood Markets Inc has asked a federal judge in Miami to dismiss a lawsuit alleging the retail brokerage engaged in fraud and market manipulation when it restricted trading in several "meme stocks" last year. | | | | | | Messaging app Signal's founder and Chief Executive Officer Moxie Marlinspike will step down and WhatsApp co-founder Brian Acton will become the interim CEO, Marlinspike said in a blog post on Monday. | | | | | | Tesla Inc on Monday said it has signed its first U.S. supply deal for nickel, choosing Talon Metals Corp's Tamarack mine project in Minnesota because of plans to make the electric vehicle battery metal using a process it considers more environmentally friendly. | | | | | | The International Monetary Fund said on Monday it has appointed French-born University of California-Berkeley economist Pierre-Olivier Gourinchas as the Fund's next chief economist, replacing Gita Gopinath, who is joining the IMF management team this month. | | | | | |
