WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level since August but still remains low by historic standards. The Labor Department reported Wednesday that 240,000 people applied for jobless aid last week, up by 17,000 from the week before. The four-week moving average of claims, which smooths out…
By Gleb Stolyarov and Alexander Marrow MOSCOW (Reuters) -After a two-decade hiatus, Russia on Wednesday launched production of the Moskvich car brand at a plant near Moscow given up by the French carmaker Renault, with a new, modern Chinese design that barely resembles the Soviet-era classic. While the last Moskvich (“Muscovite”) was a basic three-box…
NEW YORK (AP) — On a recent evening in early November, shoppers at the Bryant Park holiday market in New York City were in the holiday spirit well before Black Friday. The scent of pine wafted from candle sellers’ booths, people snapped up gingerbread cookies and hot apple cider and ice skaters swirled figure eights…
(Reuters) – Deere & Co reported a 75% jump in quarterly profit on Wednesday as limited supply of its tractors, combine harvesters and sprayers aided the company’s pricing power and helped offset the impact of higher raw material costs. Shares of the company rose 2.8% at $428 in early trade. The Moline, Illinois-based firm’s net…
By John Revill ZURICH (Reuters) -Credit Suisse expects a pre-tax loss of up to 1.5 billion Swiss francs ($1.58 billion) in its fourth quarter as it keeps bleeding cash, the Swiss bank said on Wednesday, shortly before shareholders approved a $4 billion capital hike. The bank said a “challenging” economic and market environment had hurt…
SHANGHAI (Reuters) – Chinese smartphone maker Xiaomi Corp on Wednesday reported quarterly revenue of 70.17 billion yuan, a 9.7% fall year-on-year and a touch below analyst expectations. Net income reached 2.12 billion yuan, down 59.1% year-on-year and slightly above analyst expectations. (Reporting by Josh Horwitz, Editing by Louise Heavens)
By Brenda Goh and Yimou Lee SHANGHAI/TAIPEI (Reuters) -Hundreds of workers joined protests at Foxconn’s flagship iPhone plant in China, with some men smashing surveillance cameras and windows, footage uploaded on social media showed. The rare scenes of open dissent in China mark an escalation of unrest at the massive factory in Zhengzhou city that…
TOKYO (AP) — Asian shares gained Thursday, although optimism about the Federal Reserve holding back on aggressive interest rate raises was countered by some uncertainty about coronavirus restrictions in China. Trading was relatively muted in Asia ahead of U.S. markets being closed for Thanksgiving. Benchmarks rose in early trading in Japan, Australia and South Korea,…
By Jan Schwartz HAMBURG (Reuters) -Metalworking union IG Metall said it had struck a wage deal with Volkswagen for the carmaker’s western German factories after 11 hours of negotiations overnight, giving around 125,000 workers 8.5% more pay. The deal would have been considered exceptionally generous until recently but is now below inflation, which was 11.6%…
BEIJING (AP) — Police beat workers protesting over a pay dispute at the biggest factory for Apple’s iPhone, whose new model is delayed by controls imposed as China tries to contain a surge in COVID-19 cases. Foxconn, the biggest contract assembler of smartphones and other electronics, is struggling to fill orders for the iPhone 14…
