BARCELONA, Spain (AP) — The European Union’s plan to reduce the bloc’s natural gas use by 15% to prepare for a potential cutoff by Russia this winter received sharp skepticism Thursday from the governments of Spain and Portugal, which are usually big supporters of the bloc. The governments in Madrid and Lisbon said they would…
BERLIN (AP) — Natural gas started flowing through a major pipeline from Russia to Europe on Thursday after a 10-day shutdown for maintenance — but the gas flow remained well short of full capacity and the outlook was uncertain, which leaves Europe still facing the prospect of a hard winter. Deliveries through the Nord Stream…
By Manas Mishra and Jeffrey Dastin (Reuters) -Amazon.com Inc on Thursday agreed to buy primary care provider One Medical for $3.49 billion, expanding the e-commerce giant’s virtual care presence and adding some brick-and-mortar doctors’ offices to its healthcare arsenal. The all-cash deal heralds a dramatic expansion of Amazon’s healthcare ambitions, having piloted virtual care visits…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank raised interest rates by more than expected on Thursday as concerns about runaway inflation trumped worries about growth, even while the euro zone economy is suffering from the impact of Russia’s war in Ukraine. The ECB raised its benchmark deposit rate by…
JAKARTA (Reuters) – Nickel miner Vale Indonesia, China’s Zhejiang Huayou Cobalt and U.S. car maker Ford Motor signed a non-binding memorandum of cooperation to build a plant in Indonesia to extract nickel chemicals, Vale said in a statement on Thursday. The companies plan to create a partnership to build a plant to produce 120,000 tonnes…
Markets face a daunting avalanche or worries. Russia’s invasion of Ukraine, China’s Zero Covid policies, multi-decade high inflation, and supply chain issues are just the tip of the iceberg for headwinds. Yet here we are with the S&P 500 and Nasdaq rallying 6%+ over the past week. What has market participants excited? The answer may…
(Reuters) – The number of Americans filing new claims for unemployment benefits rose for a third straight week last week to the highest in eight months, suggesting some cooling in the labor market amid tighter monetary policy and financial conditions. Initial claims for state unemployment benefits rose 7,000 to a seasonally adjusted 251,000 for the…
NEW YORK (AP) — Kyle Tomcak was looking for a home for his in-laws in the suburbs around Denver, something priced close to $450,000. Tomcak became dispirited as he lost out to investors fronting cash offers $100,000 over the asking price. Then mortgage rates ballooned, putting his price range out of reach. “All of a…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits last week rose to the highest level in more than eight months in what may be a sign that the labor market is weakening. Applications for jobless aid for the week ending July 16 rose by 7,000 to 251,000, up from the previous week’s…
By Joseph White and Ben Klayman DETROIT (Reuters) -Ford Motor Co on Thursday announced a series of deals to accelerate its shift to electric vehicles, including sourcing battery capacity and raw materials from such companies as Chinese battery maker CATL and Australian mining giant Rio Tinto. The deals are part of Ford’s push to have…
