Business News
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U.S. capital running out of gas, even as Colonial Pipeline recovers
WASHINGTON (Reuters) -Washington was running out of gasoline on Friday, even as the country's largest fuel pipeline network ramped up deliveries following a cyberattack and U.S. officials assured motorists that supplies would return to normal soon.
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Less than 3% of U.S. small businesses could face tax hikes under Biden plan -White House
WASHINGTON (Reuters) -Less than 3% of the roughly 30 million small-business owners in the United States could face tax increases under President Joe Biden's jobs and infrastructure plan, according to a new analysis by the White House on Friday.
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Facebook faces prospect of 'devastating' data transfer ban after Irish ruling
DUBLIN (Reuters) -Ireland's data regulator can resume a probe that may trigger a ban on Facebook's transatlantic data transfers, the High Court ruled on Friday, raising the prospect of a stoppage that the company warns would have a devastating impact on its business.
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U.S. tariff review considers commodity shortages, inflation -official
WASHINGTON (Reuters) - The Biden administration is weighing concerns about commodity shortages and inflation as it reviews trade tariff policy, the top White House economist said on Friday.
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Wall Street ends volatile week sharply higher
NEW YORK (Reuters) - Wall Street closed higher in a broad rally, an upbeat conclusion to whipsaw week of buying and selling as signs of a rebounding economy squared off against mounting inflation jitters.
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U.S. requiring inspections for wire failure on Boeing 737 Classic planes
WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) said on Friday it was requiring U.S. operators of 143 Boeing Co 737 Classic series airplanes to check for possible wire failures stemming from an investigation into an Indonesia crash in January.
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Bank of America reaches $75 million settlement over excessive fees
(Reuters) -Bank of America Corp agreed to pay $75 million to settle a lawsuit accusing the second-largest U.S. bank of extracting overdraft fees it didn't earn from customers with savings and checking accounts, court papers showed.
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Fed approves acquisition of BBVA's U.S. banking arm by PNC
WASHINGTON (Reuters) - The U.S. Federal Reserve said on Friday it had approved the acquisition of the U.S. operations of Spanish lender BBVA by PNC Financial Services Group Inc, clearing the way for a deal first announced in November.
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ViacomCBS says dispute between former CEO Moonves and CBS resolved
(Reuters) -ViacomCBS Inc said https://bit.ly/2Rdeph8 on Friday a dispute between CBS and its former Chief Executive Officer Leslie Moonves who was accused of sexual assault and harassment has been resolved and the parties have dismissed the arbitration process.
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U.S. retail sales pause, record savings seen supporting spending
WASHINGTON (Reuters) - U.S. retail sales unexpectedly stalled in April as the boost from stimulus checks faded, but an acceleration is likely in the coming months amid record savings and a reopening economy.
