By Safiyah Riddle (Reuters) – U.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most home loans despite the big jump in mortgage rates over the last two years, a report on Thursday said. Delinquency rates fell to 3.37%…
By Brendan Pierson (Reuters) – A federal appeals court on Thursday appeared skeptical of the Biden administration’s bid to reverse a court order sharply limiting its ability to ask social media companies to remove content that it considers to be misinformation. Daniel Tenny, a lawyer with the U.S. Department of Justice, told a three-judge panel…
By Jody Godoy (Reuters) -Goldman Sachs shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday. The New York-based 2nd U.S. Circuit Court of Appeals ruled in three pension funds’ long-running case accusing the bank…
By Jonathan Stempel NEW YORK (Reuters) -Donald Trump on Thursday appealed a judge’s dismissal of his claim that the writer E. Jean Carroll defamed him by accusing him of rape, after a jury awarded her $5 million for defamation and sexual abuse but not rape. The former president asked the federal appeals court in Manhattan…
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…
