By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks closed lower on Thursday as data on the labor market and comments from a U.S. Federal Reserve official reinforced expectations the central bank will be aggressive in hiking interest rates outweighed a flurry of solid corporate earnings. Stocks initially rose early in the session, boosted by…
By Brendan Pierson (Reuters) -Walmart Inc has agreed to pay $215 million to resolve claims its pharmacies fueled an epidemic of opioid addiction in Florida, the state’s attorney general announced on Thursday. As part of the deal, Walmart has also agreed to dispense 672,000 treatment kits with the anti-overdose drug naloxone to first responders in…
By Jody Godoy (Reuters) -A U.S. jury found on Thursday that Credit Suisse Group AG did not conspire with the world’s largest banks to rig prices in the foreign exchange market between 2007 and 2013, handing the bank a win as it works to restructure and put a string of scandals behind it. The case…
By John Chalmers and Marine Strauss BRUSSELS (Reuters) -Prime ministers of Italy and Belgium were among those to air frustration on Thursday with Germany’s refusal to cap gas prices as the 27 European Union leaders met for a second summit in two weeks to try mitigate the bloc’s acute energy crunch. The EU is grappling…
By Nathan Gomes (Reuters) -Union Pacific Corp on Thursday cut its annual volume growth forecast, as the U.S. railroad operator struggles with staffing shortages and weakness in intermodal demand amid a shift in consumer spending to experiences from goods. The company also forecast a slightly worse 2022 operating ratio, a key profitability metric for railroads….
By Abhijith Ganapavaram (Reuters) – U.S. railroad Union Pacific Corp’s chief executive expressed confidence on workers agreeing to a new tentative contract that was agreed last month, although he warned that they could still hold a strike. “I remain confident that we’re going to get our temporary agreements ratified and be able to avoid a…
Sales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market. The National Association of Realtors said Thursday that…
By Shashwat Chauhan (Reuters) -Canada’s main stock index reversed early losses on Thursday, as strong gains in energy and mining firms countered interest rate jitters and market uncertainty caused by the resignation of Liz Truss as UK’s prime minister. At 10:36 a.m. ET (14:36 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 130.27…
WASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week. Last year at…
ISTANBUL (AP) — Turkey’s central bank has slashed interest rates for the third month in a row, making its biggest drop this year despite sky-high inflation that is squeezing people’s finances as it follows President Recep Tayyip Erdogan’s unorthodox economic views. The Central Bank of the Republic of Turkey on Thursday lowered the benchmark rate…
