DETROIT (AP) — Two organizations that influence many Americans’ automobile buying decisions will begin rating vehicles on how well they track behavior of motorists who use partially automated driver-assist systems. Consumer Reports and the Insurance Institute for Highway Safety say the ratings will factor into scores for new models starting this year. Automobile buyers often…
SAN RAMON, Calif. (AP) — Netflix delivered its latest quarter of disappointing subscriber growth during the final three months of last year, a trend that management foresees continuing into the new year as tougher competition is undercutting the video streaming leader. The Los Gatos, California, company added 8.3 million worldwide subscribers during the October-December period,…
By Sheila Dang, Julia Love and Dawn Chmielewski (Reuters) – The success of Microsoft’s biggest deal ever rides on rehabilitating Activision Blizzard’s culture, Microsoft CEO Satya Nadella declared after announcing the $69 billion transaction. Accomplishing that will require Microsoft to deviate from its usual hands-off approach on acquisitions to tackle what amounts to a “clean…
By Stephen Culp NEW YORK (Reuters) – The dollar fluctuated but remained rangebound on Thursday as this week’s upward trajectory of U.S. Treasury yields took a breather. While the dollar initially edged lower following the release of disappointing economic data, the greenback reversed its losses after benchmark Treasury yields partially recovered in the wake of…
By Rajesh Kumar Singh CHICAGO (Reuters) – U.S. carriers American Airlines and United Airlines on Thursday said a recovery in passenger traffic was likely to resume in March after a blip caused by the Omicron coronavirus variant, but warned that the latest wave of the health crisis would keep their costs elevated this year. Texas-based…
WASHINGTON (AP) — The Federal Reserve on Thursday released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers. A central bank digital currency would differ in some key ways from the online and…
By Lewis Krauskopf, Bansari Mayur Kamdar and Shreyashi Sanyal (Reuters) – Wall Street’s main indexes rebounded on Thursday with solid gains for technology and growth shares as Treasury yields steadied and investors sought bargains a day after the Nasdaq fell into correction territory. All 11 major S&P 500 sectors were higher. Megacap stocks gave the…
By Abhijith Ganapavaram and Nathan Gomes (Reuters) – Union Pacific Corp said COVID-19 cases among its staff and paid time off for people getting inoculated may hurt its ability to move freight in the current quarter, but that impact should still be less than the 4% slump in volume in the previous quarter. The company’s…
WASHINGTON (AP) — Average long-term U.S. mortgage rates continued to rise this week. The rate on the benchmark 30-year loan breached 3.5%. Home loan rates have been running in recent weeks at levels not seen since early 2020, when the coronavirus pandemic was breaking in the U.S. They remain at historically low levels, however. Mortgage…
SEATTLE (AP) — The Washington Supreme Court has narrowly upheld an $18 million fine levied against an association of large food brands that funneled dark money into a state political campaign. The 5-4 decision Thursday found that the penalty against the Grocery Manufacturers Association — now known as the Consumer Brands Association — did not…
