President Joe Biden on Wednesday said he had underestimated the extent of Republican opposition to his programs and acknowledged Americans' frustration at the slow pace of COVID-19 testing, but said the United States was on track to meet considerable challenges from the pandemic and inflation.
- EuropeBiden says he believes Russia will 'move in' to Ukraine
U.S. President Joe Biden predicted on Wednesday that Russian President Vladimir Putin will make a move into Ukraine and said Russia would pay dearly for a full-scale invasion, with its businesses possibly losing access to the U.S. dollar.
- BusinessWall Street sell-off deepens, Nasdaq confirms correction
Wall Street's main indexes ended sharply lower on Wednesday, with the tech-heavy Nasdaq confirming it was in a correction, after a diverse set of corporate earnings and as investors continued to worry about higher U.S. Treasury yields and the Federal Reserve tightening monetary policy.
- U.S. MarketsWorld Bank chief takes swipe at Microsoft's $69 bln gaming deal as poor countries struggle
World Bank President David Malpass on Wednesday criticized Microsoft's $69 billion takeover of gaming developer Activision Blizzard as a questionable allocation of capital at a time when poor countries are struggling to restructure debts and fight COVID-19 and poverty.
- Macro MattersWall Street banks eye 'new normal' for trading revenue after stellar two years
- FinanceMorgan Stanley outperforms rivals with profit beat
- Aerospace & DefenseUnited Airlines reduces quarterly loss, sees Omicron fading in spring
- FinanceBank of America profit beats estimates on loan growth, M&A boost
- Retail & ConsumerP&G lifts sales forecast as price hikes, hygiene product demand continue
- Healthcare & PharmaceuticalsUnitedHealth says Omicron-driven cost impact cushioned by healthcare deferrals
- BusinessBarrick's Q4 gold output rises 10% powered by Nevada gold mines