By Saqib Iqbal Ahmed and Lewis Krauskopf NEW YORK (Reuters) – The Dow Jones Industrial Average, a laggard among the major U.S. stock indexes this year, got its moment in the spotlight on Thursday as it briefly broke above 40,000 points for the first time in its history. The record on the Dow – as…
WASHINGTON (Reuters) – White House National Economic Adviser Lael Brainard said on Thursday China’s industrial capacity and exports in certain sectors are so large, they can undermine the viability of investments in the United States. “China is now simply too big to play by its own rules,” Brainard said during remarks at the Center for…
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday upheld the Consumer Financial Protection Bureau’s funding mechanism in a challenge brought by the payday loan industry, handing a victory to President Joe Biden’s administration and a setback to the agency’s conservative critics. The 7-2 decision, authored by conservative Justice Clarence Thomas, reversed a…
By Boldizsar Gyori, Karol Badohal and Jan Lopatka LEVICE, Slovakia (Reuters) – A 71-year-old former security guard charged on Thursday with the attempted murder of Slovak Prime Minister Robert Fico is the author of three collections of poetry who neighbours said had shown no sign of political extremism. Fico, 59, was shot as he greeted…
NEW YORK (Reuters – The Dow Jones Industrial Average surpassed 40,000 points for the first time on Thursday, the blue-chip index’s fastest 10,000 point-climb, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve. MARKET REACTION: STOCKS: The Dow was last up 0.3% at 40,029. The S&P and Nasdaq…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – U.S. stocks are at fresh records, bitcoin is soaring and investors are spurning insurance against portfolio declines as evidence that the economy is headed for a so-called soft landing whets market participants’ appetite for risk. Call it the Goldilocks trade – a bet that the Federal Reserve…
(Reuters) – Israel and Hamas have been waging war since gunmen from the Palestinian militant group went on the rampage in southern Israel on Oct. 7, killing 1,200 people and capturing 253 hostages. Israel responded with a military campaign in which more than 35,000 Palestinians have been killed. The war is the bloodiest ruction in…
(Reuters) -Footwear brand Converse will cut jobs as part of parent company Nike’s on-going $2 billion cost savings plan, Bloomberg News reported on Tuesday citing an internal memo. Nike had laid out a costs saving plan in December that would stretch over the next three years and also include tightening the supply of some products…
(Reuters) -U.S. President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports, including electric vehicle (EV) batteries, computer chips and medical products. Following are reactions to the move. ELISSA PIERCE, RESEARCH ASSOCIATE, WOOD MACKENZIE “U.S. solar manufacturers are still relatively dependent on China for other module components, such as glass…
(Reuters) – Meta Platforms will discontinue its work-focused Workplace app as the company shifts its focus on building artificial intelligence and metaverse technologies, the Facebook parent said on Tuesday. Workplace will be shuttered starting June 2026 for customers but Meta will continue to use it as its internal messaging board, the company said, adding users…
