Oil climbs 1% as tankers avoid Red Sea after strikes on Houthis

Reuters | January 12, 2024

By Arathy Somasekhar HOUSTON (Reuters) -Oil rose 1% on Friday as an increasing number of oil tankers diverted course from the Red Sea following overnight air and sea strikes by the U.S. and Britain on Houthi targets in Yemen after attacks on shipping by the Iran-backed group. Brent crude futures settled 88 cents, or 1.1%, […]

Musk’s X Receives Pennsylvania Money License in Push Toward Payment Features

Reuters | December 14, 2023

By Sheila Dang and Pete Schroeder (Reuters) – Elon Musk’s social media platform X, formerly known as Twitter, took a step closer to offering payment features after receiving a money-transmitter license from a 13th U.S. state this week. The approval by Pennsylvania, which occurred on Monday according to a public licensing database, has not been […]

Cathay favouring Airbus for widely watched freighter deal – sources

Reuters | November 28, 2023

(Reuters) -Cathay Pacific Airways Ltd is leaning towards placing an order for around six Airbus A350 freighters as the Hong Kong carrier renews the oldest section of its fleet of dedicated 747 cargo jets, industry sources said. If confirmed, the selection marks a bounce back for the Airbus freighter after Cathay earlier this year appeared […]

Dollar Slips on Bets Us Rates Have Peaked

Reuters | November 24, 2023

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar slipped against a basket of currencies on Friday on news of steady U.S. business activity in November, but private sector employment declined in line with expectations for a fourth-quarter economic slowdown. Currencies traded in a relatively narrow range with U.S. markets closing early the day after […]

US weekly jobless claims fall; business spending on equipment easing

Reuters | November 22, 2023

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week, but that likely does not change the view that the labor market is gradually slowing as higher interest rates cool demand in the economy. Though the weekly jobless claims report from the Labor […]

Analysis-Hybrid Vehicle Sales Surge in China, Posing Fresh Threat to Foreign Automakers

Reuters | November 21, 2023

SHANGHAI (Reuters) – As EV makers in China wage an intense price war to prop up slowing demand, Chinese brands with strong hybrid lineups are emerging as winners, attracting consumers with vehicles with long range that can cost less than gasoline cars. The emerging trend may provide a glimmer of hope for global automakers such […]

After Breathtaking Surge, Stocks’ Path May Rest on Economic Soft Landing

Reuters | November 17, 2023

By Lewis Krauskopf NEW YORK (Reuters) – Are U.S. stocks poised to continue their dramatic run, or is a pause ahead? That’s the question investors are asking as the S&P 500 heads into the close of the year with fresh highs coming into view. Signs of cooling inflation have fueled hopes that the Federal Reserve […]

Bankrupt Rite Aid Sues Us Justice Dept to Stop Opioid Lawsuit

Reuters | November 16, 2023

By Dietrich Knauth NEW YORK (Reuters) – Rite Aid sued the U.S. Department of Justice on Thursday, seeking to block a lawsuit alleging that the bankrupt pharmacy chain ignored red flags and illegally filled hundreds of thousands of prescriptions for addictive opioid medication. The DOJ, which sued Rite Aid in March, agreed only to a […]

More Peas Please? Thanksgiving Meal Costs Americans Less This Year

Reuters | November 15, 2023

By Howard Schneider WASHINGTON (Reuters) – With gas prices and airfares falling it will be cheaper for Americans to get to Grandma’s or wherever they celebrate Thanksgiving this year, and when they arrive they’ll find another happy price shock: The turkey and sides will cost less than last year. The American Farm Bureau Federation’s annual […]

Pimco Bullish on Bonds Next Year as Inflation Slows Down

Reuters | November 14, 2023

NEW YORK (Reuters) – U.S. bond giant Pacific Investment Management Company (PIMCO) said on Tuesday it favors bonds over other asset classes next year as it expects economic growth to have peaked and that inflation will slow down. “Given current valuations and an outlook for challenging economic growth and diminishing inflation, we believe bonds have […]

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