DIRS.INFO The most relevant business & tech news

☆ Fed's Bowman says she still expects another interest rate hike
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

U.S. Federal Reserve Governor Michelle Bowman poses at a conference on monetary policy at The Hoover Institution in Palo Alto, California, U.S., May 3, 2019. Earlier this month, the Fed kept its benchmark overnight lending rate unchanged in the 5.25%-5.50% range for the second consecutive policy meeting. However, Bowman has repeatedly been among a small minority of policymakers who have said they don't think the Fed's job is yet done. Likewise, some signs of interest rate insensitivity among businesses could dull the effects of tighter monetary policy and financial conditions on economic activity and inflation, Bowman said, and overall longer-term economic conditions might mean the Fed's policy rate may need to be higher than pre-pandemic norms. Earlier on Tuesday, Fed Governor Christopher Waller said he is "increasingly confident" the central bank's current policy setting will prove enough to return inflation to the Fed's target.

Persons: Michelle Bowman, Ann Saphir, Bowman, Jerome Powell, Christopher Waller, Lindsay Dunsmuir, Paul Simao Organizations: Federal, Hoover Institution, REUTES, Fed, Thomson Locations: Palo Alto , California, U.S, Salt Lake City , Utah

☆ At least 20 dead after Italian bus falls from Venice bridge
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

The Italian flag waves in front of The "Altare della Patria" also known as "Vittoriano" downtown Rome, Italy, March 23, 2016. REUTES/ Stefano Rellandini/File Photo Acquire Licensing RightsROME, Oct 3 (Reuters) - At least 20 people died on Tuesday after a city bus carrying tourists to a campground crashed off an overpass near Venice in northern Italy and caught fire, the city's Mayor Luigi Brugnaro said. The bus veered off the road and fell close to railway lines in the district of Mestre, which is connected to Venice by a bridge. "There are at least 20 dead, but some people are still trapped in the wreckage," he later told Italian state television channel Rai News24. Italy has suffered a number of deadly bus crashes in recent years.

Persons: REUTES, Stefano Rellandini, Luigi Brugnaro, Brugnaro, ANSA, Giorgia Meloni, Emilio Parodi, Alvise Armellini, Gavin Jones, Crispian Balmer, Jonathan Oatis, Lisa Shumaker Organizations: Rights, Sky Italia, Rai, Thomson Locations: Rome, Italy, Venice, Mestre, Italian, Verona, Venice's prefecture

Despite considerable progress, she said, "inflation continues to be too high, and I expect it will likely be appropriate for the (Fed) to raise rates further and hold them at a restrictive level for some time." The Fed targets 2% inflation. Given that progress, U.S. central bankers last month opted to keep the policy rate in its current 5.25%-5.50% range even as most signaled another rate hike would likely be needed before year's end. Speaking at a separate event in New York on Monday, Fed Vice Chair for Supervision Michael Barr said he believes rates are now "at or very near" a sufficiently restrictive level. The same Fed forecasts also show policymakers as a group expect stronger economic growth and a stronger job market than they had expected just three months earlier.

Persons: Michelle Bowman, Ann Saphir, Michael Barr, Barr, Jerome Powell, John Williams, Bowman, Thomas Barkin, we've, Dan Burns, Pete Schroeder, Anna Driver, Andrea Ricci Organizations: U.S . Federal, Hoover Institution, REUTES, . Federal Reserve, Fed, New, New York Fed, Richmond Fed, Thomson Locations: Palo Alto , California, U.S, New York, York , Pennsylvania

☆ Cisco touts market share wins, AI potential as revenue forecast disappoints
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

The logo of U.S. networks giant Cisco Systems is seen in front of their headquarters in Issy-les-Moulineaux, near Paris, France August 6, 2022. REUTES/Sarah Meyssonnier/file Acquire Licensing RightsAug 16 (Reuters) - Networking equipment maker Cisco Systems' (CSCO.O) CEO talked up market share wins and artificial intelligence (AI) opportunities, as he moved to allay fears over slowing growth after a disappointing annual revenue forecast. Cisco forecast full-year revenue to be between $57 billion and $58.20 billion, below the Refinitiv estimate of $58.38 billion. He also said the company was likely to be a leading supplier of the networking gear needed for AI workloads. Cisco expects adjusted earnings per share of $4.01 to $4.08 for the full year, compared with the estimate of $4.04.

Persons: REUTES, Sarah Meyssonnier, Chuck Robbins, Zaheer Kachwala, Shilpi Majumdar Organizations: Cisco Systems, Cisco, Microsoft, AT, Thomson Locations: Issy, Paris, France, Bengaluru

☆ Fed's Bowman says more US rate hikes likely will be needed
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +3 min

REUTES/Ann Saphir/File PhotoAug 5 (Reuters) - The U.S. Federal Reserve will likely need to raise interest rates further to bring down inflation, Governor Michelle Bowman said on Saturday. Bowman said she supported the Fed's quarter-point increase in interest rates last month, given still-high inflation, strong consumer spending, a rebound in the housing market and a labor market that is helping to feed higher prices. In forecasts published in June, most Fed policymakers expected to end the year with the Fed policy rate at 5.6%, one quarter-point hike above the setting established at the Fed's late-July meeting. Bowman's use of the plural "rate increases" in her remarks on Saturday indicates she thinks the Fed will need to go higher than that. "I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening."

Persons: Michelle Bowman, Ann Saphir, Bowman, Jerome Powell, Banks, Tom Hogue Organizations: Federal, Hoover Institution, REUTES, U.S . Federal Reserve, Kansas Bankers Association, Market Committee, Labor, Thomson Locations: Palo Alto , California, U.S

Search resuls for: "REUTES"

5 mentions found