By Lucia Mutikani WASHINGTON(Reuters) – U.S. manufacturing pulled off a three-year low in April as new orders improved slightly and employment rebounded, but activity remained depressed amid higher borrowing costs and tighter credit, which have raised the risk of a recession this year. Despite the weakness in factory activity and demand for goods reported by…
(Reuters) – ON Semiconductor’s shares jumped 7% on Monday after the chipmaker’s quarterly guidance beat Wall Street’s expectations, spurring other chip stocks with heavyweight Nvidia hitting its highest level in over a year. With investors looking for signs of when a downturn in global chip revenue may bottom out, ON Semiconductor’s quarterly results and guidance…
By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) on Monday said it had activated 169 more direct routes along the U.S. East Coast ahead of the busy summer travel season. The direct routes will shave off 40,000 miles and 6,000 minutes of travel time annually, the FAA said. The new routes operate largely…
By Giuseppe Fonte and Alvise Armellini ROME (Reuters) -Italy’s right-wing government on Monday approved measures to boost job creation and workers’ pay, amid hostile reactions from unions and opposition parties over accompanying welfare cuts and looser rules on short-term job contracts. Prime Minister Giorgia Meloni made it easier for firms to offer job contracts lasting…
WASHINGTON (Reuters) – With Democratic President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy locked in a standoff over raising the United States’ $31.4 trillion debt ceiling, some observers have suggested possible workarounds to avoid disaster if the two sides do not reach a deal. Here are some of their proposals: TRILLION-DOLLAR COIN…
WASHINGTON (Reuters) – U.S. President Joe Biden on Monday hailed moves by U.S. regulators to facilitate the sale of First Republic Bank, protect all its depositors and ensure that U.S. taxpayers are not affected. “These actions are going to make sure that the banking system is safe and sound,” Biden told an event at the…
WASHINGTON (Reuters) – U.S. President Joe Biden on Monday hailed moves by U.S. regulators to facilitate the sale of First Republic Bank, protect all its depositors and ensure that U.S. taxpayers are not affected. “These actions are going to make sure that the banking system is safe and sound,” Biden told an event at the…
(Reuters) – Russia unleashed a fresh volley of missiles on Ukraine overnight, causing huge blazes in an eastern city, damaging dozens of homes and wounding at least 34 people. Other cities appeared relatively unscathed, with Ukraine saying it destroyed 15 out of 18 missiles. FIGHTING * A Ukrainian general said Russian troops had been pushed…
(Reuters) – Jack Dorsey is taking another whack at a Twitter-like service with a new social media platform called Bluesky. The service is gaining traction among Twitter power users, attracting prominent personalities including U.S. Congresswoman Alexandria Ocasio-Cortez. Bluesky, which bears similarities to the blue bird platform, is the latest in a long list of apps…
BEVERLY HILLS (Reuters) – Citigroup chief executive officer Jane Fraser said on Monday that debate about the debt ceiling in the United States had serious consequences even as the investing world breathes a sigh of relief that an ailing bank was rescued by a bigger competitor the same day. The debt ceiling turmoil is “more…
