US

US consumer spending ends 2022 on weaker footing; slow inflation

Consumer spending falls 0.2% in December Personal income increases 0.2%; savings rate rises to 3.4% Core PCE price index gains 0.3%; up 4.4% year-on-year WASHINGTON, Jan 27 (Reuters) – US consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to …

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Judge blocks sale of machine gun converters after US sues

NEW YORK, Jan 26 (Reuters) – The US Department of Justice said it has obtained a court order blocking two firearms companies from imperiling public safety by illegally selling devices to convert AR-15 style rifles into machine guns. US District Judge Nina Morrison in Brooklyn on Wednesday issued a temporary restraining order against Rare Breed …

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Europe Is Diversifying Its Diesel Sources Ahead Of Ban On Russian Fuel

Europe is buying more diesel from the United States and Saudi Arabia in preparation of the EU ban on seaborne imports of Russian refined products, yet Europe still remains the biggest buyer of Russian diesel, data compiled by Anadolu agency showed on Thursday. The EU will ban—effective February 5—seaborne imports of Russian refined oil products …

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Visa revenue growth slows more as tough economy sobers spending

Jan 26 (Reuters) – Visa Inc’s (VN) revenue growth continued to wind back to pre-pandemic levels in the first quarter as the post-lockdown travel craze ebbed and consumer spending slowed in a tough economy. The world’s largest payments processor still surpassed Wall Street targets for profit, sending its shares up 1.4% to $227.82 in after-hours …

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US says it ‘hacked the hackers’ to bring down ransomware gang, helping 300 victims

WASHINGTON, Jan 26 (Reuters) – The FBI revealed on Thursday it had secretly hacked and disrupted a prolific ransomware gang called Hive, a maneuver that allowed the bureau to thwart the group from collecting more than $130 million in ransomware demands from more than 300 victims . At a news conference, US Attorney General Merrick …

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