US weekly jobless claims at 3-month high; equipment spending resilient

Weekly jobless claims increase 17,000 to 240,000 Continuing claims rise 48,000 to 1,551 million Core capital goods orders rebound 0.7% in October Shipments of core capital goods surge 1.3% WASHINGTON, Nov 23 (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs in … Read more

US grocer Kroger carts away Albertsons for $25 bln but faces antitrust test

Oct 14 (Reuters) – Kroger Co (KR.N) snapped up Albertsons Cos Inc (ACI.N) in a $25 billion deal on Friday, creating a US grocery behemoth to better compete with leader Walmart Inc (WMT.N) on prices while bracing for potential antitrust roadblocks. The mega merger between the No. 1 and 2 standalone grocers in the United … Read more

Newly-launched US drugs head toward record-high prices in 2022

Median annual price for new US drugs this year is $257,000 Eight of 13 drugs launched in 2022 priced over $200,000 per year Some drugmakers disclose less information on pricing Aug 15 (Reuters) – Drugmakers are launching new medicines at record-high prices this year, a Reuters analysis has found, highlighting their pricing power even as … Read more

Wall Street closes little changed on Fed policy fears

Auto stocks up on Senate approval of bill with EV funding Nvidia slides as slump in gaming demand hits Q2 revenue Dow closes up 0.09%, Nasdaq down 0.1%, S&P 500 0.12% Aug 8 (Reuters) – Wall Street closed flat on Monday after blockbuster jobs last week reinforced expectations the Federal Reserve will crack down on … Read more

China’s exports gain steam but outlook cloudy as global growth cools

China July exports grow at faster pace, beat forecast Imports again disappoint, highlighting weak domestic demand Trade balance hit record high in July Weak foreign demand adds stress to trade, economic outlook BEIJING, Aug 7 (Reuters) – China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as its … Read more

Wall Street rallies on economic data, crude falls as stockpiles jump

NEW YORK, Aug 3 (Reuters) – US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that US stockpiles of crude and gasoline unexpectedly surged last week. … Read more

OPEC+ agrees tiny output rise in setback for Biden

OPEC to raise output target by 100,000 bpd from Sept OPEC faces output problems to meet existing targets US seeking higher OPEC production to counter Russia Biden trip, US arms sales failed to persuade DUBAI/LONDON, Aug 3 (Reuters) – OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount … Read more

BP boosts dividend after profit hits 14-year high

Profits soar to $8.45 bln, far exceeding forecasts BP boosts dividend by 10% BP to boost spending on oil and gas, CEO says Profits driven by strong oil trading, hit by LNG LONDON, Aug 2 (Reuters) – BP’s (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins … Read more

Wall Street ends down after biggest month since 2020

US manufacturing sector slows modestly PerkinElmer rises on $2.45 billion investment End indices: S&P 500 -0.28%, Nasdaq -0.18%, Dow -0.14% Aug 1 (Reuters) – Wall Street ended lower after a choppy session on Monday, with declines in Exxon Mobil (XOM.N) and other energy companies weighing against gains in Boeing (BA.N) as investors digested the US … Read more

Inflation begins to strain finances of young, low-income Americans

A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, US, June 11, 2020. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com register NEW YORK, Aug 1 (Reuters) – High inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to … Read more