NEW YORK (AP) — Consumers picked up their spending from May to June, underscoring their resilience despite painfully higher prices at the gas pump and in grocery aisles and allaying fears that the economy might be on the verge of a recession. U.S. retail sales rose 1% in June, from a revised decline of 0.1…
BERLIN (AP) — Dock workers at Germany’s North Sea ports went on strike Friday in the latest of several walkouts that have added pressures on shipping as their union demands a hefty pay rise to counter high inflation. The 48-hour strike, which is to end on Saturday morning, has largely paralyzed cargo handling at major…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rebounded strongly in June as Americans spent more on gasoline and other goods amid soaring inflation, which could allay fears of an imminent recession but not change the view that economic growth in the second quarter was tepid. Retail sales rose 1.0% last month, the Commerce…
WASHINGTON (Reuters) – U.S. retail sales increased more than expected in June as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline. Retail sales rose 1.0% last month, the Commerce Department said on Friday. Data for May was revised up to show sales falling 0.1% instead of…
SOFIA, Bulgaria (AP) — Bulgaria’s president launched talks on Friday with all political parties represented in parliament to see if there was still a chance to form a government and avoid another early election. President Rumen Radev is trying to prevent Bulgaria from sliding into new political turmoil after the two main parties stumbled over…
UnitedHealth Group hiked its 2022 forecast Friday after riding both growing health insurance enrollment and its newer care-providing businesses to a better-than-expected second quarter. The health care giant said a nearly 9% surge in Medicare Advantage customers pushed its total enrollment past 51 million people. UnitedHealth Group runs UnitedHealthcare, one of the nation’s largest insurers….
ROME (AP) — Italy entered into days of political and financial uncertainty Friday as Premier Mario Draghi weighed his options and political leaders considered theirs after coalition ally the 5-Star Movement sparked a crisis by withholding support on a government-sponsored bill. On the immediate horizon are behind-the-scenes consultations through mid-week to see if Draghi still…
BRUSSELS (AP) — The European Union’s executive intensified its legal standoff with Hungary on Friday by taking the country to the EU’s highest court over a restrictive law on LGBT issues and media freedom. The EU had already tried for a year to make Hungary change a law that bans content portraying or promoting homosexuality….
(Reuters) – U.S. equity funds witnessed outflows for the third week in a row in the week ended July 13, on pessimism over economic growth and earnings outlook as companies are hit by higher borrowing costs and lower margins. According to Refinitiv Lipper data, U.S. equity funds faced outflows of $1.41 billion, compared with $5.45…
By Fransiska Nangoy and Stefanno Sulaiman NUSA DUA, Indonesia (Reuters) – G20 finance leaders meeting in Bali must make progress tackling the global economic threats sparked by Russia’s war in Ukraine or the humanitarian consequences would be catastrophic, host Indonesia said on Friday. Some Western ministers blasted Russian officials attending the talks, with U.S. Treasury…
