By Matteo Allievi and Shreyashi Sanyal (Reuters) -European shares closed higher on Thursday led by technology stocks, as hopes grew that the Federal Reserve’s post-pandemic tightening cycle was close to an end due to cooling U.S. inflation. The pan-European STOXX 600 index ended 0.6% higher, extending gains to the fifth straight day, its longest winning…
By Saeed Azhar NEW YORK (Reuters) -Goldman Sachs Group has sold $1 billion of personal loans from its consumer unit, Marcus, to alternative investment firm Varde Partners, a source familiar with the matter said on Thursday. This was the second tranche of unsecured loans offloaded by Goldman after it disclosed earlier it had sold about…
WASHINGTON (Reuters) -China’s economy is slowing due to weaker private investment, slowing exports and reduced domestic demand after a strong performance in the first quarter as the economy reopened from COVID-19 lockdowns, the International Monetary Fund said on Thursday. “So the overall picture for growth in China is one of a slowing economy and that…
(Reuters) – U.S. shoppers plan to spend a record $41.5 billion during the upcoming school year, a trade group forecast on Thursday, as families accommodate an inflation-driven rise in the prices of back-to-school items, particularly electronics. The survey by the National Retail Federation (NRF) predicts consumers will spend 12.5% more during one of the key…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday reiterated that rate hikes will be essential to bring down high inflation in the United States. Daly has previously said she believes two more rate hikes will likely be needed this year. Daly wants to start heading towards a neutral rate as the…
(Reuters) -Walt Disney wants to keep ESPN and will look for strategic partners to form a joint venture or buy a stake in the sports network to help take it directly to consumers, CEO Robert Iger said on Thursday in an interview to CNBC. Speaking for the first time since Disney extended his contract until…
(Reuters) – A shift to remote working is likely to wipe off $800 billion from the value of office buildings in major global cities by 2030, according to a study published by consulting firm McKinsey on Thursday. The survey on nine “superstar” cities — Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai…
By Granth Vanaik (Reuters) -U.S. online sales during Amazon.com’s Prime Day shopping event rose 6.1% to $12.7 billion from last year, as inflation-hit Americans hunted for discounts on the e-commerce platform, Adobe Analytics data on Thursday showed. Shoppers spent $6.3 billion on the second day of the big sale as deep discounts on products such…
By Chandni Shah (Reuters) -Amazon.com was hit with a complaint on Wednesday for refusing to bargain with a New York workers’ union, a spokesperson for the National Labor Relations Board (NLRB) said. The NLRB general counsel, which acts as a prosecutor, is seeking remedies that include an order for Amazon to bargain in good faith…
(Reuters) – The U.S. Food and Drug Administration said on Wednesday it is reviewing concerns raised by Senate Majority Leader Chuck Schumer against a popular influencer-created energy drink. Schumer said earlier this month that PRIME, a beverage brand started last year by YouTube stars Logan Paul and KSI, should be investigated due to the high…
