WASHINGTON (AP) — Consumers struggling with skyrocketing prices for food, gas, autos and rent got a tantalizing hint of relief last month, when prices didn’t budge at all from June after 25 straight months of increases. With gas prices continuing to fall, inflation is probably slowing further this month. So has the worst bout of…
By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Walt Disney Co edged past Netflix Inc with a total of 221 million streaming subscribers at the end of the most recent quarter and announced it will launch a Disney+ option with advertising this December. Disney+ with ads will cost $7.99 per month, the same price…
By Saqib Iqbal Ahmed and Davide Barbuscia NEW YORK (Reuters) – Softer than expected U.S. inflation data buoyed investors’ faith that twin rebounds in stocks and bonds will persist in a year of deep losses for both asset classes. Bear markets in both have maximized losses in portfolios this year as rate hikes from the…
By Nichola Groom, Cole Horton and Simon Jessop LOS ANGELES/NEW YORK (Reuters) – For the first time, investors seeking to pour cash into U.S. clean energy projects can count on at least a decade of generous federal subsidies, offering them long-sought confidence in the staying power of the world’s third biggest renewables market. Tax credits…
(Reuters) -Global commodities trader Cargill Inc on Tuesday reported that its fiscal year 2022 revenue jumped 23% from a year earlier to a record $165 billion. The strong result was the latest for a global agricultural commodities trader after rivals Archer-Daniels-Midland Co and Bunge Ltd reported solid earnings last month amid high farm products prices…
By Bhargav Acharya (Reuters) – African e-commerce firm Jumia Technologies said on Wednesday it was past peak losses and would focus on promotions, marketing and cost cutting in its quest towards profitability, driving its shares up 16% despite a wider quarterly loss. Jumia is an online marketplace for vendors and food sellers, with associated services…
COLOGNE, Germany (AP) — Water levels on the Rhine River could reach a critically low point in the coming days, German officials said Wednesday, making it increasingly difficult to transport goods — including coal and gasoline — as drought and an energy crisis grip Europe. Weeks of dry weather have turned several of Europe’s major…
By Ann Saphir (Reuters) -Slowing U.S. inflation may allow Federal Reserve policymakers to downshift their most aggressive round of monetary policy tightening in decades when they meet next month, though data on tap in coming weeks could still change the picture. After a U.S. Labor Department report Wednesday showed consumer prices didn’t rise at all…
By Sinéad Carew NEW YORK (Reuters) – Wall Street equities rallied and Treasury yields plunged after signs of sharply decelerating U.S. inflation prompted bets that the Federal Reserve would raise rates at a slower pace than previously expected. The dollar also tumbled after U.S. data showed that consumer prices did not rise in July as…
By Lindsay Dunsmuir (Reuters) -U.S. consumer prices were unchanged in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for weary Americans who have watched inflation climb over the past two years. The Consumer Price Index (CPI) was flat last month after advancing 1.3% in June,…
