WASHINGTON (AP) — The average long-term U.S. mortgage rate dipped back under 7% this week, one day after the Federal Reserve raised its benchmark borrowing rate to its highest level in 15 years as it tries to squelch four-decade high inflation. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate…
DETROIT (AP) — Stellantis and the U.S. government on Thursday warned owners of 276,000 older vehicles to stop driving them after Takata air bags apparently exploded in three more vehicles, killing the drivers. The company formerly known as Fiat Chrysler is telling people to stop driving Dodge Magnum wagons, Dodge Challenger and Charger muscle cars…
By Marie Mannes (Reuters) -Electric vehicle maker Polestar said on Thursday it had secured $1.6 billion in financing from its two main shareholders to help it deliver its growth plans amid volatile markets. Volvo Car, which co-founded the brand with China’s Geely in 2017, said it would provide an $800 million loan to the firm….
Supply problems have again forced Moderna to delay some COVID-19 vaccine deliveries, a move that surprised Wall Street and contributed to a disappointing third quarter. The vaccine developer said Thursday that short-term issues prompted it to shift some deliveries initially planned for this year into 2023. It now expects 2022 revenue from advance purchase agreements…
KYIV, Ukraine (AP) — Europe’s largest nuclear power plant was relying on emergency diesel generators to run its safety systems Thursday after external power from the Ukrainian electric grid was again cut off, Ukrainian and U.N. officials reported. Fighting in Ukraine has repeatedly damaged power lines and electrical substations that the Zaporizhzhia Nuclear Power Plant…
WASHINGTON (AP) — Applications for jobless benefits fell slightly last week with the U.S. job market remaining resilient in the face of rising interest rates and persistent inflation. Unemployment claims for the week ending Oct. 29 fell by 1,000 to 217,000 from 218,000 the previous week, the Labor Department reported Thursday. The four-week moving average…
RIO DE JANEIRO (AP) — In the run-up to Brazil’s presidential election, many feared a narrow result would be contested and spell the death knell for Latin America’s largest democracy. So far, however, the worst fears have been averted, despite a nail-biting victory for former leftist President Luiz Inácio Lula da Silva over far-right incumbent…
BERLIN (AP) — German Chancellor Olaf Scholz on Thursday told leaders of six Balkan countries that aspire to join the European Union that “it is high time to overcome regional conflicts” and stand together as Russia wages war in Ukraine. Scholz and the European Union’s top officials joined leaders from Serbia, Kosovo, Bosnia, Montenegro, North…
LONDON (Reuters) – The Bank of England raised UK interest rates to 3% on Thursday in its largest rate hike since 1989 and warned of a “very challenging outlook” for the economy. Investors had fully priced in the possibility of the three-quarter point increase. Money markets showed traders now expect UK rates to peak at…
(Reuters) -Intercontinental Exchange reported a 3% rise in third-quarter adjusted profit on Thursday, bolstered by heavy trading volumes that helped offset a lull in initial public offerings at the New York Stock Exchange parent. Even as a global market rout saps the appetite for deals forcing companies to delay their stock market listings, it has…
