By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased modestly last week and private employers hired more workers than expected in May, pointing to continued labor market tightness that could push the Federal Reserve to keep interest rates elevated. The labor market is slowing only marginally, keeping…
(Reuters) – The Organization of the Petroleum Exporting Countries with Russia and other allies, or OPEC+, meet on June 4 to discuss whether additional oil production cuts should be implemented. The group in early April surprised markets with output cuts of around 1.16 million barrels per day, fuelling a rise in prices. Going into the…
By Sabine Siebold and Gwladys Fouche OSLO (Reuters) – Moscow cannot stop Ukraine from becoming a NATO member, the alliance’s chief Jens Stoltenberg said on Thursday, as divisions among allies about the speed of Kyiv’s accession became apparent only weeks before a decisive mid-July summit in Vilnius. “All allies agree that Moscow does not have…
By Mike Stone and Joey Roulette WASHINGTON (Reuters) – SpaceX’s Starlink, the satellite communications service started by billionaire Elon Musk, now has a Department of Defense contract to buy those satellite services for Ukraine, the Pentagon said on Thursday. “We continue to work with a range of global partners to ensure Ukraine has the resilient…
MILAN (Reuters) – Stellantis does not need the Italian state as a shareholder as the carmaker is in good shape, its Chairman John Elkann said on Thursday, responding to business lobby calls for Italy to invest directly in the group. Paolo Scudieri, who heads the Italian automotive association ANFIA, was quoted in Il Sole 24…
(Reuters) – The U.S. Treasury Department on Thursday announced $15 billion in one-day cash management bills on June 2 and said it tentatively plans to sell 13-week and 26-week bills on June 5, but added that the latter sales depend on whether Congress will pass legislation to raise the debt ceiling by then. The Treasury…
By John Kruzel WASHINGTON (Reuters) – The U.S. Supreme Court on Thursday gave a boost to whistleblowers in their bid to revive lawsuits accusing pharmacy operators of knowingly overbilling government health insurance programs for prescription drugs at taxpayers’ expense. The justices in a 9-0 decision threw out a lower court’s ruling that said the pharmacies…
(Reuters) – AstraZeneca said on Thursday that a combination of its cancer drug Lynparza and abiraterone has been approved in the United States for the treatment of BRCA-mutated metastatic castration-resistant prostate cancer. The company said the combination treatment reduced the risk of disease progression or death by 76% compared with usage of abiraterone alone. (Reporting…
By Aishwarya Venugopal (Reuters) – Weak profit forecasts from department store chain Macy’s to discounter Dollar General on Thursday underscored the fragile health of the U.S. consumer as persistent inflation curbs spending. Several U.S. retailers said sales have ebbed as consumers react to higher prices for food and other essentials. Broadly, U.S. consumer spending trends…
By Andy Sullivan WASHINGTON (Reuters) – The bipartisan debt-ceiling deal that could clear Congress as soon as Thursday would stave off an imminent U.S. default, but might deliver less budget savings than Republicans have hoped for, according to nonpartisan budget analysts. The agreement ensures that President Joe Biden will not have to grapple with another…
