By Ann Saphir SAN FRANCISCO (Reuters) -A jump in jobless claims reported Thursday, along with weaker-than-expected wholesale price pressures, have for now wiped out any lingering trader expectations that the Federal Reserve will raise interest rates again in June, and bolstered bets on rate cuts to come. Unemployment insurance claims rose last week to the…
By Hilary Russ NEW YORK (Reuters) – Labor unions on Thursday asked a United Nations agency to investigate whether gaps in U.S. law have allowed Starbucks Corp to allegedly violate the rights of baristas organizing at the coffee chain’s cafes, a filing seen by Reuters showed. The complaint to the International Labour Organization (ILO), a…
MILAN (Reuters) – The head of Telecom Italia (TIM) said the company’s service business is “already sustainable” as a standalone entity and is expected to generate strong core profit this year. Chief Executive Pietro Labriola on Thursday asserted that TIM had a viable future should he manage to complete the sale of its domestic landline…
WASHINGTON (Reuters) – U.S. producer prices rebounded modestly in April, leading to the smallest annual increase in producer inflation in more than two years, further evidence that inflation pressures were subsiding. The producer price index for final demand rose 0.2% last month, the Labor Department said on Thursday. Data for March was revised slightly to…
By Xie Yu HONG KONG (Reuters) – China’s securities watchdog on Thursday said that it was willing to work with its counterparts in the United States to promote regulatory cooperation on audits and safeguard the rights and interests of global investors. The China Securities Regulatory Commission (CSRC) was commenting a day after a U.S. accounting…
(Reuters) – Sonos Inc was set to shed more than a fifth of its market valuation on Thursday after a revenue forecast cut fueled worries that consumers were dialing down purchases of its premium speakers in a turbulent economy. The stock was down 21% in premarket trading, on course to erase nearly all of the…
(Reuters) – Turkish President Tayyip Erdogan faces his toughest political challenge yet when the nation votes on Sunday, with the opposition sensing its best chance yet of ending his two decades in power and reversing his policies. The presidential and parliamentary votes, set for May 14 with a possible May 28 run-off, will decide not…
By Alvise Armellini ROME (Reuters) – Italy’s competition watchdog AGCM is trying to close a legal loophole that has allowed several companies to evade antitrust fines and may help Amazon in an ongoing appeal, a legal expert and two sources told Reuters. The European Commission is closely following the matter, which has potential implications for…
MADRID (Reuters) -Spanish telecoms firm Telefonica disappointed the market on Thursday with a 58% drop in first-quarter net profit from the same period a year ago as the company was unable to raise prices in line with costs. The company said its net profit fell to 298 million euros ($328 million), while overall revenues rose…
By Ariba Shahid KARACHI, Pakistan (Reuters) -Point-of-sale transactions routed through Pakistan’s main digital payment systems fell by around 50% the day after former Prime Minister Imran Khan’s arrest ignited countrywide protests and prompted authorities to shut down mobile internet services, data showed on Thursday. The reason for the slump was primarily the mobile broadband suspension,…
