By John McCrank NEW YORK (Reuters) – The dollar ticked up against a basket of rival currencies in holiday-thinned trading on Thursday as a dip in weekly jobless claims data helped ease fears that a surge of COVID-19 infections would curb the economic recovery. New claims for U.S. unemployment benefits fell in the week…
STOCKHOLM (Reuters) – The world’s biggest furniture brand IKEA is raising prices by an average of 9% as it faces increasing costs in transport and raw materials, the owner of most of its stores worldwide said on Thursday. IKEA had previously said it was leasing more ships, buying containers and re-routing goods between warehouses…
By Brendan Pierson NEW YORK (Reuters) – Teva Pharmaceutical Industries Ltd fueled opioid addiction in New York state, a jury found on Thursday, a setback for a company still facing thousands of other opioid-related lawsuits around the United States. The verdict, which followed a nearly six-month New York state court trial in a case…
By Medha Singh and Bansari Mayur Kamdar (Reuters) -The S&P 500 and the Dow hit all-time highs on Thursday, extending a record-setting run as a dip in weekly jobless claims allayed fears over the economic damage from a rampant surge in COVID-19 infections in the United States. The blue-chip Dow was set to rise…
By Katanga Johnson and Sujata Rao WASHINGTON/LONDON (Reuters) -A week-long rally in world stock markets showed few signs of abating on Thursday as investors looked beyond the Omicron COVID-19 variant, bolstering gains for stocks and oil, while the dollar slipped. Sentiment was supported by signs that governments, despite coronavirus cases hitting record highs, are…
(Reuters) – Tesla Inc is recalling more than 475,000 of its Model 3 and Model S electric cars to address rearview camera and trunk issues that increase the risk of crashing, the U.S. road safety regulator said. The U.S. electric vehicle manufacturer is recalling 356,309 2017-2020 Model 3 vehicles to address rearview camera issues…
(Reuters) – The number of Americans filing new claims for unemployment benefits fell last week, the Labor Department said on Thursday, data that showed no impact yet on employment from the surge in U.S. coronavirus infections to a record. Initial claims for state unemployment benefits dropped to a seasonally adjusted 198,000 for the week…
By Xie Yu and Clare Jim HONG KONG (Reuters) -Shares of China Evergrande Group tumbled on Thursday after the embattled real estate developer did not pay offshore coupons due earlier this week. Evergrande, whose $19 billion in international bonds are in cross-default after missing a deadline to pay coupons earlier this month, had new…
By Sujata Rao LONDON (Reuters) – A seven day rally in world stocks ran out of steam on Thursday as the spread of Omicron worldwide clouded bumper year-to-date gains, dented oil prices and boosted the dollar. Sentiment was supported, however, by signs that governments, despite coronavirus cases hitting record highs, are trying to limit…
By John McCrank and Karen Brettell NEW YORK (Reuters) -Libor, or the London Interbank Offered Rate, will no longer be used for new derivatives and loans as of Jan. 1. The benchmark and reference rate, which had $265 trillion linked to it globally at the start of 2021, is being scrapped in the biggest…
