By Safiyah Riddle (Reuters) – Contracts to buy previously owned homes increased in June for the first time since February, suggesting that the housing market is recovering from the low point of its recent declines. The National Association of Realtors (NAR) said on Thursday that its Pending Home Sales Index, based on signed contracts that…
By Olena Harmash KYIV (Reuters) -Ukraine’s central bank lowered its key rate to 22% on Thursday, announcing its first wartime rate cut in a move aimed at helping economic recovery. The cut from 25%, where it was set in June 2022, had been expected by economists and analysts, with inflation slowing more quickly than expected…
HONG KONG (Reuters) – China and the U.S. agreed to keep in close communication on issues including climate change, envoys from the two nations said on Thursday during a video call. The two sides exchanged views on topics such as strengthening China-U.S. climate change dialogue, and promoting cooperation in the global climate multilateral process, China’s…
By Bhanvi Satija and Leroy Leo (Reuters) -Eli Lilly said on Thursday its experimental obesity drug helped patients reduce 26.6% of weight, on average, across two late-stage studies after intensive lifestyle changes or with continued treatment, before they stopped taking the drug. Lilly is testing the drug, known as Mounjaro or tirzepatide, in the trials…
By Helen Coster and Samrhitha A NEW YORK (Reuters) -Comcast Corp beat estimates for quarterly revenue on Thursday, helped by higher theme park attendance and the successful theatrical releases of “The Super Mario Bros Movie” and “Fast X”, sending its shares up nearly 6%. The company’s total revenue rose 1.7% to $30.51 billion in the…
ZURICH (Reuters) -Holcim said on Thursday it expects to set another record for sales from North America this year as the world’s biggest cement maker goes after new business resulting from companies bringing production home and taking advantage of government subsidies. The forecast came as the company posted better-than-forecast quarterly results. Manufacturers are shifting production…
By Patricia Zengerle WASHINGTON (Reuters) – U.S. Senator Bob Menendez said on Wednesday he still had concerns about the sale of F-16 fighter jets to Turkey, and had not changed his hold on the sale of the aircraft. There is “nothing new,” Menendez, the Democratic chairman of the Senate Foreign Relations Committee, told Reuters at…
By Mehr Bedi (Reuters) -Hershey raised its full-year adjusted profit forecast on Thursday, bolstered by price increases for the Reese’s peanut-butter cups maker’s chocolates and candy even as demand starts to falter. Big names in the packaged food industry, including Kellogg, Coca-Cola Co and Hershey, have hiked product prices multiple times over the past year…
(Reuters) -Mastercard on Thursday reported a bigger-than-expected rise in second-quarter profit, boosted by resilient spending in a turbulent economy. Unfazed by stubborn inflation and a stormy economic environment, Mastercard’s customers continued to spend heavily on travel and entertainment even as rate hikes by the Federal Reserve have increased the odds of a recession later this…
(Reuters) – The European Central Bank raised interest rates for the ninth consecutive time on Thursday and kept the door open to further tightening, as stubborn inflation and a growing risk of a recession pull policymakers in opposing directions. Fighting off a historic surge in prices, the ECB has now lifted borrowing costs by a…
