(Reuters) – Investors are increasingly of a mind that the U.S. Federal Reserve has delivered the final installment of what has been most aggressive policy-tightening cycle in four decades, but central bank officials caution it is still too soon to make that call. Last week’s quarter-point interest-rate hike brought the Fed’s policy rate to a…
MELEKHOVO, Russia (Reuters) -Jailed Russian opposition politician Alexei Navalny was sentenced on Friday to an additional 19 years in prison after being found guilty on a series of new charges, Navalny’s supporters said on social media. In a video feed from a court hearing at a penal colony east of Moscow, Navalny could be seen…
TORONTO (Reuters) – Canadian economic activity contracted in July for the first time in seven months as a measure of employment fell, Ivey Purchasing Managers Index (PMI) data showed on Friday. The seasonally adjusted PMI fell to 48.6 in July from 50.2 in June. It was the first reading below the 50 level that indicates…
By Tom Balmforth (Reuters) -A Russian warship was seriously damaged in an overnight Ukrainian naval drone attack on Russia’s Black Sea navy base at Novorossiysk, the first time the Ukrainian navy has projected its power so far from the country’s shores. The port, which handles 2% of the world’s oil supply and also exports grain,…
By David Shepardson and Rajesh Kumar Singh (Reuters) – United Airlines on Friday said it is spending $33 million to buy 113 acres (46 hectares) in Denver as part of its growth strategy. The Chicago-based U.S. airline said it plans to use “part of this land as the site for the expansion of our world-class…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks have rallied this year, largely on the back of companies with ties to artificial intelligence (AI), but as those shares become expensive, investors are turning towards firms set to benefit from government spending on infrastructure. Nvidia shares have surged almost 205% year to date, while Meta…
BERLIN (Reuters) – China is losing importance as a market for German exporters, with data showing a steady decline in its share of total exports, a trend set to continue as Berlin and Beijing rethink their economic ties. Despite hopes of a trade boost after Beijing lifted pandemic restrictions, exports to China made up just…
(This Aug. 2 story has been corrected say the company cut annual forecast for net income attributable to shareholders, not profit, and removes the reason for it in the headline and paragraph 1) (Reuters) – Simon Property lowered its annual forecast for net income and missed Wall Street estimates for quarterly funds from operations on…
NEW YORK (Reuters) – The U.S. economy maintained a moderate pace of job growth in July, but solid wage gains and a decline in the unemployment rate pointed to continued tightness in labor market conditions. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report on Friday….
By Timothy Aeppel (Reuters) – When storms hammered California’s farms last winter, Kevin Kelly knew his small factory outside San Francisco would soon see demand wilt for the plastic bags it churns out for pre-cut salads and other produce. In the past, he would have swiftly chopped 10% of the workers that run his bag-making…
