WASHINGTON (Reuters) – U.S. consumer sentiment deteriorated in June as households worried about inflation and incomes, a survey showed on Friday. The University of Michigan’s preliminary reading on the overall index of consumer sentiment came in at 65.6 this month, compared to a final reading of 69.1 in May. Economists polled by Reuters had forecast…
By Stephen Culp NEW YORK (Reuters) -U.S. stocks dipped and gold surged on Friday at the conclusion of a week fraught with the apparent contradiction of cooling economic data and a hawkish Federal Reserve. Benchmark U.S. Treasury yields extended their slide, while the dollar gained ground against a basket of world currencies amid geopolitical uncertainties…
(Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said the U.S. employment picture increasingly resembles the job market that existed prior to the COVID-19 pandemic, and slowing wage growth is not a threat to add to inflation. “The labor market has become a little less hot, a little bit more normal. The number of…
By Daniel Wiessner (Reuters) -Apple on Thursday was hit with a proposed class action accusing the tech giant of paying more than 12,000 female employees in California less than men with comparable jobs, lawyers for the plaintiffs said. The lawsuit filed in state court in San Francisco by two women claims Apple systematically underpays female…
By Hyunjoo Jin, Abinaya V and Greg Roumeliotis (Reuters) -Tesla shareholders were set to approve Elon Musk’s $56 billion pay package in what is being seen as a thumbs-up to his leadership – and an enticement for keeping his focus on the electric vehicle maker. Musk posted a chart on his social media platform X…
By Amina Niasse NEW YORK (Reuters) – About one-third of U.S. employer health plans are offering coverage of GLP-1 drugs for both diabetes management and weight loss, up from last year, according to a survey of global employers released on Thursday by the International Foundation of Employee Benefit Plans. GLP-1 drugs for weight loss grew…
(Reuters) -Space tourism company Virgin Galactic announced a 1-for-20 reverse stock split on Wednesday, sending its shares down 19% in extended trading. The stock split is expected to go into effect on June 14 after markets close and resume trading on a split-adjusted basis after markets open on June 17. The company is planning the…
COPENHAGEN (Reuters) – U.S. electric vehicle manufacturer Tesla has been reported to police in Sweden accused of performing electrical installation work without the necessary registration, the Swedish Electricians’ Union said on Wednesday. There are already tense relations between Tesla and unions in Sweden, where the company has faced prolonged industrial action and its mechanics have…
(Reuters) -Apple once again became the world’s most valuable company on Wednesday, dethroning Microsoft from the top spot, as the iPhone maker pushed ahead in a race to dominate artificial intelligence technology. Its shares rose more than 2% to $211.75, giving it a market valuation of $3.25 trillion. Microsoft’s market capitalization stood at $3.24 trillion,…
(Reuters) – Tech conglomerate Broadcom raised its annual revenue forecast on Wednesday, betting on higher demand for its networking equipment and custom chips from businesses investing in artificial intelligence infrastructure. Shares of the Palo Alto, California-based company, which also unveiled a stock split, rose more than 9% in extended trading. The company will carry out…
