By Echo Wang and Devik Jain (Reuters) – U.S. stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly a year. Stocks initia…
EU’s toughest Russia sanctions yet snag on worries over oil ban
By Francesco Guarascio and John Chalmers STRASBOURG (Reuters) -The European Union’s executive on Wednesday proposed the toughest package of sanctions yet against Moscow for its war in Ukraine, but several countries worried about the impact of cutting o…
Biden lashes out at Republicans’ ‘extreme’ MAGA agenda, touts deficit reduction
By Jeff Mason and Jarrett Renshaw WASHINGTON (Reuters) -President Joe Biden sharply criticized former President Donald Trump’s “MAGA” movement as extreme on Wednesday while touting his Democratic administration’s efforts to reduce the U.S. deficit, whi…
Russia fights for control of Ukraine’s Mariupol stronghold
By Natalia Zinets and Francesco Guarascio KYIV/BRUSSELS (Reuters) -Russian forces battled on Wednesday for control of the last stronghold in Ukraine’s besieged city of Mariupol, Ukrainian officials said, and the European Union proposed tough new sancti…
Musk says Twitter may charge slight fee for commercial, government users
(Reuters) -Elon Musk said on Tuesday Twitter Inc might charge a “slight” fee for commercial and government users, part of the billionaire entrepreneur’s push to grow revenue which has lagged behind larger rivals like Meta Platforms Inc’s Facebook. “Twi…
Fed expected to step up inflation fight with big rate hike
By Ann Saphir WASHINGTON (Reuters) – The Federal Reserve on Wednesday is expected to raise interest rates by half of a percentage point and announce the start of reductions to its $9 trillion balance sheet as U.S. central bankers intensify efforts to b…
Fed raises rates by half point, starts balance sheet reduction June 1
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and the U.S. central bank’s chief made a direct appeal to A…
N.Korea fires ballistic missile as South gets ready for new president
By Soo-hyang Choi and Hyonhee Shin SEOUL (Reuters) -North Korea fired a ballistic missile toward the sea off its east coast on Wednesday, South Korea and Japan said, about a week after Pyongyang vowed to develop its nuclear forces “at the fastest possi…
Beijing steps up COVID curbs as virus spreads in China
BEIJING/SHANGHAI (Reuters) – Beijing shut scores of metro stations and bus routes and extended COVID-19 curbs on many public venues on Wednesday, focusing efforts to avoid the fate of Shanghai, where millions have been under strict lockdown for more th…
N.Korea mobilises office workers to fight drought amid food shortages
By Hyonhee Shin SEOUL (Reuters) – North Korea’s office workers and factory labourers have been dispatched to farming areas around the country to join a fight against drought, state media reported on Wednesday, amid concerns over prolonged food shortage…