WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose slightly last week but remains historically low even as the U.S. economy slows in the midst of decades-high inflation. Jobless claims for the week ending Oct. 8 rose by 9,000 to 228,000, the Labor Department reported Thursday. The four-week moving average ticked up…
By Victoria Waldersee BERLIN (Reuters) -Volkswagen’s software unit Cariad will spend more than $2 billion and take a 60% stake in a new venture with Chinese technology firm Horizon Robotics, it said on Thursday, tackling two big challenges: software and the Chinese market. The carmaker will invest $1 billion in Horizon Robotics and a further…
LONDON (AP) — A senior member of the U.K. government on Thursday rejected suggestions that Prime Minister Liz Truss should step down after lawmakers from her own party criticized Truss for economic policies that have sparked turmoil on financial markets. During a stormy, private meeting with Conservative Party lawmakers on Wednesday evening, Truss was blasted…
MADRID (AP) — Spanish Socialist Prime Minister Pedro Sánchez on Thursday announced a 3 billion-euro ($2.9 billion) package in new subsidies to help people weather high gas and electricity prices exacerbated by Russia’s invasion of Ukraine. The measures include set gas price rates for collective residential heating systems until the end of 2023 and more…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve officials are pushing back on investors’ mounting concerns that the U.S. central bank’s aggressive campaign to counter high inflation is setting the stage for a market crack-up. Central bankers’ confidence is countered by wide-ranging fears among market participants who see bond market liquidity strains, damaging…
Olga Lopatkina paced around her basement in circles like a trapped animal. For more than a week, the Ukrainian mother had heard nothing from her six adopted children stranded in Mariupol, and she was going out of her mind with worry. The kids had spent their vacation at a resort in the port city, as…
Delta Air Lines expects travelers will pack planes during the upcoming holidays despite higher fares and growing concerns over inflation and the economy. Delta posted a profit Thursday of $695 million in the third quarter as higher fares this summer and a lucrative credit-card business more than offset higher fuel prices. The airline forecast a…
MILAN (Reuters) – Monte dei Paschi di Siena (MPS) on Thursday set the terms of an up to 2.5 billion euro ($2.4 billion) cash call it will launch on Monday. Here is a timeline of key events in the recent history of MPS, whose origins can be traced back to the 15th century. NOVEMBER 2007…
BRUSSELS (AP) — NATO’s secretive Nuclear Planning Group met Thursday as the military alliance presses ahead with plans to hold a nuclear exercise next week as concerns deepen over President Vladimir Putin’s insistence that he will use any means necessary to defend Russian territory. Defense ministers led the session, which usually happens once or twice…
(Reuters) -South African freight rail and port workers have rejected a revised pay offer from state-owned logistics firm Transnet and vowed to continue a week-long strike that has been throttling commodities exports, a union leader said on Thursday. Transnet, which operates South Africa’s freight rail and ports, said on Tuesday it had raised its wage…
