WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week for the sixth straight week, marking new highs not seen in 15 years, before a crash in the housing market triggered the Great Recession. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate climbed to 6.70% from 6.29% last…
BRASILIA (Reuters) – Brazil created more formal jobs than expected in August, official data showed on Thursday, continuing a sequence of positive data that has been fueling the economy. According to Labor Ministry figures, the net gain reached 278,639 formal jobs in August, above the expected 268,700 in a Reuters poll with economists. All months…
FELDHEIM, Germany (AP) — Europeans are opening their energy bills with trepidation these days, bracing for hefty price hikes as utility companies pass on the surging cost of natural gas, oil and electricity tied to Russia’s war in Ukraine. Many are trying to conserve by turning down the heat and shutting off lights this winter….
(Reuters) – Peloton Interactive Inc said on Thursday it will start selling its treadmills, exercise bikes and other fitness accessories in Dick’s Sporting Goods Inc stores as it looks to expand its customer base to lift sagging sales. The partnership will makes Dick’s Sporting Goods the first brick-and-mortar retailer outside Peloton’s own sales channels to…
COPENHAGEN, Denmark (AP) — The NATO military alliance warned Thursday it would retaliate for any attacks on the critical infrastructure of its 30 member countries and joined other Western officials in citing sabotage as the likely cause of damage to two natural gas pipelines in the Baltic Sea. The warning came as the Swedish coast…
WASHINGTON (AP) — The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy. Applications for unemployment benefits for the week ending Sept. 24 fell by 16,000 to 193,000, the Labor Department reported Thursday. That is the lowest level of…
WASHINGTON (AP) — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic contraction, one informal rule of thumb for a recession. Most economists, citing…
By Francesco Canepa and Balazs Koranyi VILNIUS/FRANKFURT (Reuters) -ECB policymakers continued to line up on Thursday behind another big interest rate hike as inflation in the euro zone’s biggest economy hit double digits, blasting past expectations and heralding another record reading for the bloc as a whole. The European Central Bank has raised rates by…
PARIS (AP) — While the European Union agreed to curtail its use of Russian oil and gas, its member nations continue to import and export nuclear fuel that is not under EU sanctions – to the chagrin of the Ukrainian government and environmental activists. A cargo ship carrying uranium that departed from the French port…
BERLIN (AP) — Germany plans to spend up to 200 billion euros ($195 billion) helping consumers and businesses as surging energy prices due to the war in Ukraine are pushing Europe’s largest economy into a looming recession. Chancellor Olaf Scholz said Thursday that the government was reactivating an economic stabilizing fund previously used during the…
