By Lucia Mutikani WASHINGTON (Reuters) – U.S. employers hired more workers than expected in December while raising wages at a solid clip, casting some doubt on financial market expectations that the Federal Reserve would start cutting interest rates in March. There were, however, some cracks in the closely watched employment report from the Labor Department…
By Laura Sanicola (Reuters) -Oil settled lower on Thursday in a choppy see-saw session, as massive weekly gasoline and distillate stock builds overshadowed a larger-than-expected crude stock draw. Brent crude settled down 66 cents, or 0.8%, to $77.59. During the session it both rose and fell over $1. U.S. West Texas Intermediate crude futures settled…
(Reuters) -Apple continued its struggle in the new year on Thursday, plumbing an eight-week low after Piper Sandler handed the tech giant its second downgrade this week on worries about iPhone demand. The rating action knocked Apple shares down 1.4% at $181.6, causing its market value to decline nearly $170 billion so far in the…
(Reuters) -Ford Motor on Thursday posted its best annual auto sales in the United States since 2020, fueled by sustained demand for the automaker’s crossover SUVs and pickup trucks, a day after many of its peers reported double-digit gains in new vehicle sales. The Detroit automaker said vehicle sales rose 7.1% to 1.99 million units…
By Ted Hesson and Susan Heavey WASHINGTON (Reuters) -A Republican-led U.S. House of Representatives committee next week will advance an effort to impeach Homeland Security Secretary Alejandro Mayorkas over allegations he has been derelict in his duty of managing the U.S.-Mexico border, the committee announced on Wednesday. The House Homeland Security Committee will hold a…
By Georgina McCartney HOUSTON (Reuters) -Oil prices closed the first trading session of 2024 lower as expectations for interest rate cuts waned and on easing concerns that tensions in the Red Sea will disrupt supplies. Brent crude settled at $75.89, down by $1.15 or 1.5%. U.S. West Texas Intermediate crude settled at $70.38 a barrel,…
By Libby George LONDON (Reuters) -Saudi Arabia’s Public Investment Fund accounted for about a quarter of the almost $124 billion spent by sovereign wealth funds worldwide last year, a report published on Jan. 1 showed. PIF’s whopping $31.5 billion spend in 2023 compared with $123.8 billion for all sovereign wealth funds, based on a preliminary…
By Ankur Banerjee and Medha Singh (Reuters) -Bitcoin galloped past $45,000 on Tuesday, for the first time since April 2022, as the world’s biggest cryptocurrency started the new year with a bang, buoyed by optimism around the possible approval of exchange-traded spot bitcoin funds. Bitcoin touched a 21-month peak of $45,922, having gained 156% last…
(Reuters) -China’s Alibaba Group said on Tuesday it had repurchased a total of 897.9 million of its shares for $9.5 billion during 2023. The shares were bought in both the U.S. and Hong Kong stock markets, the company said in a filing. The e-commerce giant said the remaining amount the company’s Board had authorized for…
(Reuters) – DoorDash is looking to diversify beyond its core business of delivering restaurant meals to home diners, as the U.S. group seeks ways to invest a growing cash pile, the Financial Times reported on Monday. “The two largest areas of investment are expansion and penetration outside of the U.S., as well as the same…
