Thursday, 10 February 2022

Reuters Business: GM, Toyota, Ford cut production following Canadian trucking protests

GM, Toyota, Ford cut production following Canadian trucking protests

Toyota Motor Corp , General Motors Co , Ford Motor and Chrysler-parent Stellantis said they had been forced to cancel or scale back some production at North American plants on Thursday because of parts shortages stemming from Canadian trucker protests against pandemic mandates.

OnlyFans jumps into NFT profile pictures

OnlyFans, an online subscription platform known for adult content, has launched a feature for users to display verified NFTs as profile pictures, it said on Thursday.

Fed to stress test banks against commercial real estate, corporate debt troubles in 2022

The U.S. Federal Reserve announced on Thursday that its 2022 round of large bank stress tests will include a severe decline in commercial real estate prices and turmoil in corporate bond markets.

Mayor of Canadian-U.S. border city says protesters could be removed by force

A Canadian mayor said on Thursday police were prepared to physically remove anti-coronavirus mandate protesters who have blocked a vital U.S.-Canada trade route and forced automakers in both countries to reduce operations.

The U.S. yield curve has been flattening: Why you should care

The U.S. Treasury yield curve has been flattening over the last few months as the Federal Reserve prepares to hike rates, and some analysts are forecasting more extreme moves or even inversion.

Customers sue Bank of America for not refunding overdraft fees during pandemic

Bank of America Corp is facing a lawsuit seeking class action status filed on Thursday by two customers who say the bank refused to honor promises to refund overdraft fees to clients who faced financial hardship during the pandemic.

U.S. consumer prices post largest annual gain in 40 years as inflation becomes widespread

U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, fueling financial markets speculation for a hefty 50 basis points interest rate hike from the Federal Reserve next month.

U.S. Senator Warren 'urges' SEC chief to issue new climate rule after delays

Democratic U.S. Senator Elizabeth Warren criticized the U.S Securities and Exchange Commission (SEC) on Thursday for delays to its landmark climate change risk disclosure rules and called for "quick action" on the issue.

U.S. Fed should stop quantitative easing 'now,' BlackRock says

The U.S. Federal Reserve should stop buying bonds from the market now to contain rampant inflation, a top investment manager at BlackRock said in a research note on Thursday, after higher-than-anticipated January inflation data.

Mexico central bank hikes key rate, still hawkish under new leadership

Mexico's central bank on Thursday raised its benchmark interest rate as expected by 50 basis points to 6.00%, a sixth straight rate increase, as policymakers sought to keep price pressures in check with inflation running high.

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