WASHINGTON (AP) — The number of Americans applying for jobless benefits rose slightly last week, but the labor market remains healthy despite job cuts that have begun to spread across industries most affected by soaring interest rates, such as housing and technology. Unemployment claims for the week ending Nov. 5 rose by 7,000 to 225,000…
BEIJING (AP) — Asian stock markets surged Friday after U.S. inflation eased by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes. Hong Kong’s market benchmark jumped 5.4%. Seoul and Sydney rose almost 3%. Shanghai and Tokyo also advanced. Oil prices edged higher. Wall Street’s benchmark S&P…
WASHINGTON (AP) — Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows. Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September, the government said Thursday. The year-over-year increase, down from…
When the financier Jeff Yabuki and his wife, Gail, announced last year they would give $20 million to the Children’s Wisconsin health system, they become one of a growing number of wealthy donors awarding large contributions to programs that focus on mental health. They also became one of many philanthropists who are growing increasingly comfortable…
WASHINGTON (AP) — Online real estate broker Redfin is cutting 862 employees and shutting down its instant-cash-offer subsidiary RedfinNow, another casualty of two-decade high interest rates stoked by the Federal Reserve’s fight against inflation. The job cuts amount to 13% of Redfin’s workforce, the company announced in a regulatory filing. Redfin also laid off 470…
NEW YORK (AP) — Cryptocurrency prices plunged for a second-straight day after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading. Bitcoin sank to a two-year low after Binance confirmed earlier rumors and news reports that it was ready to back out of the FTX deal, struck…
BERLIN (AP) — The German government’s panel of independent economic advisers forecast Wednesday that Europe’s biggest economy will shrink by 0.2% next year. The five-member panel’s report came after official figures late last month showed unexpected growth in the third quarter, thanks to private spending. But a weak winter, with gross domestic product declining in…
BRUSSELS (AP) — The European Union is considering more lenient economic recovery proposals that veer away from the grinding, top-down austerity rules that hit Greece and several other countries during the debt crises a decade ago and helped push millions into poverty, homelessness and unemployment. The European Commission, the EU’s executive arm, said Wednesday that…
DHAKA,Bangladesh (AP) — The International Monetary Fund reached a preliminary agreement on Wednesday with Bangladesh to provide $4.5 billion to help the country weather disruptions caused by the war in Ukraine and manage risks from climate change. The agreement is subject to approval by the IMF’s executive board, which is expected within weeks. Bangladesh sought…
FRANKFURT, Germany (AP) — Adidas on Wednesday lowered its earnings forecast for the year to account for losses from ending its partnership with the rapper formerly known as Kanye West over his antisemitic remarks. The German shoe and sportswear maker cut its sales and profit outlook for the year as part of its third-quarter earnings…
