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…
By Polina Devitt, Michael Hogan and Darya Korsunskaya MOSCOW/HAMBURG (Reuters) – Sanctions-hit VTB Bank has urged President Vladimir Putin to curb the activities of Western grain traders in Russia, citing the need to strengthen Russian traders’ role in the global market, a letter seen by Reuters shows. In the letter dated Sept. 14, VTB Chief…
KYIV, Ukraine (AP) — Russia confirmed on Thursday it will formally annex parts of Ukraine where occupied areas held Kremlin-orchestrated “referendums” on living under Moscow’s rule that the Ukrainian government and the West denounced as illegal and rigged. Russian President Vladimir Putin will attend a ceremony on Friday in the Kremlin when four regions of…
LONDON (AP) — British Prime Minister Liz Truss on Thursday defended her divisive economic plan and shrugged off the turmoil it has stirred in financial markets, saying she’s willing to make “controversial and difficult decisions” to get the U.K. economy growing. In her first public comments since her Conservative government announced billions in unfunded tax…
FRANKFURT (Reuters) – Volkswagen is considering forming partnerships in the next 1-2 years as a first step towards a possible listing of its PowerCo batteries operation, finance chief Arno Antlitz said as the group’s sportscar brand Porsche AG listed on Thursday. “We do not rule out an IPO of the battery unit, but the financial…
FRANKFURT, Germany (AP) — Shares in luxury carmaker Porsche AG rose on their first day of public trading after German parent company Volkswagen raised 9.4 billion euros ($9.1 billion) for one of the largest initial public offerings in European history. Shares traded at 85.68 euros on the Frankfurt Stock Exchange on Thursday, above the initial…
