WASHINGTON (AP) — Long-term U.S. mortgage rates rose for the seventh straight week, climbing to their highest level in more than a decade. The average rate on a 30-year mortgage rose to 5.11% from 5% last week, mortgage buyer Freddie Mac reported Thursday. The last time it was higher was in April of 2010 when…
Elon Musk says he has lined up $46.5 billion in financing to buy Twitter, putting pressure on the company’s board to negotiate a deal. Last week, Musk announced an offer to buy the social media platform for $54.20 per share, or about $43 billion. At the time, he did not say how he would finance…
By Joseph White (Reuters) -AutoNation Inc and other brick-and-mortar auto dealerships in the United States turned shortages of new and used vehicles to profitable advantage in the first quarter, but investors sold the No. 1 U.S. auto retailer’s shares Thursday despite stronger than expected results. AutoNation reported adjusted diluted earnings per share of $5.78, beating…
(Reuters) -Elon Musk has secured a $46.5 billion financing commitment to acquire Twitter Inc and is considering starting a tender offer for its outstanding shares, a filing with U.S. regulators showed on Thursday. Musk has offered to buy Twitter for $43 billion, which prompted Twitter to adopt a ‘poison pill’ to limit Elon Musk’s ability…
WASHINGTON (AP) — The mounting economic damage to Ukraine from Russia’s ongoing bombardment has the U.S. and its allies speeding billions in aid to the beleaguered country — and looking for other sources of cash as well, including Russia itself. After the U.S. announced $1.3 billion in new economic assistance and military aid to Ukraine…
WASHINGTON (AP) — Applications for unemployment benefits inched down last week as the total number of Americans collecting aid fell to its lowest level in more than 50 years. Jobless claims fell by 2,000 to 184,000 last week, the Labor Department said Thursday. The four-week average of claims, which levels out week-to-week volatility, rose by…
OMAHA, Neb. (AP) — Union Pacific hauled in 22% more profit during the first quarter because it charged more and delivered 4% more shipments even as it struggled to clear up congestion along its rail network. The Omaha, Nebraska, railroad said Thursday it earned $1.63 billion, or $2.57 per share, in the quarter. That’s up…
By John Revill ZURICH (Reuters) -Makers of chocolate bars and coffee to lawn mowers and industrial robots were succeeding in passing on soaring costs to consumers, first-quarter earnings showed on Thursday, allaying fears higher prices could dent demand for their products. Some of Europe’s biggest companies reported first quarter sales increases, with KitKat maker Nestle,…
(Reuters) -No. 1 U.S. auto retailer AutoNation Inc reported first-quarter results that topped Wall Street estimates on Thursday, boosted by robust demand for used vehicles as consumer preference for personal transportation remained high despite surging vehicle prices. Shares of the company rose 4.6% to $110.70 in premarket trading. Pandemic-induced demand for personal cars outpaced the…
DALLAS (AP) — American Airlines lost $1.64 billion in the first quarter, a wider loss than a year ago, but said Thursday that it expects to turn profitable in the spring as travel demand strengthens. The airline’s shares soared more than 10% higher in early trading before the market opened. Air travel was subdued early…
