(Reuters) – The New York Times Co said on Thursday it has agreed to buy subscription-based sports site the Athletic for $550 million in cash, as the 170-year-old newspaper looks to bolster its digital offerings. Founded in 2016, the Athletic had 1.2 million subscribers as of December, and covers more than 200 clubs and teams…
By Stephen Culp NEW YORK (Reuters) – Twenty months after a global health crisis hobbled the U.S. economy, recent data – along with a hawkish turn from the Federal Reserve – is implying the labor market is approaching a complete recovery from the pandemic. That recovery has contradictory implications for the stock market. On the…
HOUSTON (Reuters) – The United Steelworkers union (USW) offered a modified proposal to Exxon Mobil Corp on Thursday in a bid to end an eight-month lockout of workers at the company’s Beaumont, Texas, refinery, a union official said. The two sides met for about an hour on Thursday morning, said Bryan Gross, USW international representative….
By Chuck Mikolajczak NEW YORK (Reuters) – The U.S. dollar edged up on Thursday after a flurry of economic data, including weekly labor market numbers, in a more muted move a day after a spike higher following the release of minutes from the Federal Reserve’s December meeting. The dollar sharply pared losses of as much…
By Jessica Resnick-Ault NEW YORK (Reuters) – Oil prices rose more than 1% on Thursday, extending a rally from the previous session, on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya. Global benchmark Brent crude futures rose $1.09, or 1.3%, to $81.80 a barrel by 1:06 p.m. EST (1806 GMT), their…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Thursday said the U.S. economy is “closing in” on the U.S. central bank’s two goals of full employment and 2% inflation, at least in the short run. “There’s a difference in the short run and the long run…balancing those things as we move forward…
By Mariya Gordeyeva and Olzhas Auyezov ALMATY (Reuters) – Kazatomprom, the world’s biggest uranium producer, said on Thursday it was operating normally with no impact on output or exports despite unrest in Kazakhstan. Uranium prices have risen after unrest in Kazakhstan which was spurred initially by protests against fuel price hikes. Spot prices hit $45.50…
By Tim Hepher and Guy Faulconbridge PARIS/LONDON (Reuters) – Qatar Airways is claiming more than $600 million in compensation from planemaker Airbus over surface flaws on A350 jetliners, according to a court document shedding new light on a growing business feud worth $4 million a day. The Gulf carrier is also asking British judges to…
By Toby Sterling AMSTERDAM (Reuters) -A group of institutional investors representing $3.5 trillion in assets under management on Thursday called on pharmaceutical companies to link their executives’ pay to making COVID-19 vaccines available around the globe. While the majority of citizens of wealthy nations are vaccinated and many are now receiving booster shots, across the…
(Reuters) – Shares of Rivian Automotive Inc fell below their IPO price of $78 for the first time on Thursday, alongside a broader selloff in electric vehicle stocks. Rivian’s shares, which were up during premarket hours, fell as much as 16.5% to $75.13. The drop also comes a day after one of Rivian’s biggest investors,…
