By Aishwarya Venugopal (Reuters) -Coach parent Tapestry will buy Michael Kors owner Capri Holdings in a deal valued at $8.5 billion, creating a U.S. fashion powerhouse to challenge larger European rivals for a bigger share of the global luxury market. U.S. luxury firms have consistently lagged their European peers in scale, limiting their ability to…
By Daniel Wiessner (Reuters) – A China-based tutoring company has agreed to settle a U.S. government agency’s novel lawsuit claiming it used hiring software powered by artificial intelligence to illegally weed out older job applicants. The 2022 lawsuit against iTutorGroup Inc was the first by the U.S. Equal Employment Opportunity Commission (EEOC) involving a company’s…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar reversed losses on Thursday, led by gains against the yen, as investors digested U.S. inflation numbers that showed a moderate increase last month, but are still way above the Federal Reserve’s 2% inflation target. The greenback climbed to five-week peaks against the yen of 144.735, and…
U.S. Stock Market Ends Higher as Dow Jones Gains 150 Points As the trading day came to a close, U.S. stocks saw gains, with the Dow Jones index rising approximately 150 points on Thursday. The Dow showed a 0.44% increase, reaching 35,277.94, while the NASDAQ experienced a 0.29% boost to 13,761.56. The S&P 500 also…
(Reuters) -United Airlines Holdings said on Thursday that it had canceled flights to Kahului Airport in Hawaii’s Maui and would fly empty planes to the wildfire-hit island to bring passengers back to the mainland. Separately, Alaska Air Group flagged some delays because of the wildfires earlier in the day, but said that it was sticking…
By David Shepardson WASHINGTON (Reuters) -The National Transportation Safety Board on Thursday cited United Airlines crew failure in a December 2022 flight that sharply lost altitude before recovering shortly after departing Kahului, Hawaii. The Boeing 777 jet lost altitude about one minute after departure in heavy rain, descending from 2,100 feet to about 748 feet…
By Moira Warburton WASHINGTON (Reuters) – U.S. Senator Joe Manchin, a maverick Democrat who has often bucked party leadership, told a radio station in his home state of West Virginia on Thursday that he is “thinking seriously” about leaving the party. “I’m not a Washington Democrat,” Manchin said in the interview on Talkline with Hoppy…
By Alexandra Valencia and Tito Correa QUITO (Reuters) – The murder of Ecuadorean presidential candidate Fernando Villavicencio has made some voters more wary of going to the polls on Aug. 20, making an unsettled election even harder to forecast. Villavicencio, a vocal critic of corruption and organized crime, was killed on Wednesday during an evening…
By Laura Sanicola (Reuters) -Oil prices settled lower on Thursday, with Brent crude holding close to January highs, as speculation about another U.S. interest rate hike faded following inflation data and OPEC remained positive on the oil demand outlook. Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI)…
By Nandita Bose SALT LAKE CITY (Reuters) -President Joe Biden on Thursday expanded federal aid to Hawaii and promised help to its suffering citizens as deadly wildfires engulfed the island of Maui, and he expressed condolences for the devastation in a call with the state’s governor. Biden approved a disaster declaration for Hawaii aimed at…
