By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week, suggesting the labor market was gradually slowing as the Federal Reserve’s year-long interest rate hiking campaign dampens demand. Though measured, the loss of labor market momentum added to slumping retail sales and manufacturing activity in…
By Sabrina Valle HOUSTON (Reuters) – The two largest U.S. oil companies are road testing renewable gasoline blends that they say could bring down emissions from conventional autos to levels competitive with electric vehicles (EVs). The fuels being promoted by Chevron Corp and Exxon Mobil Corp, if made commercially available, potentially would extend the life…
NEW YORK (Reuters) -Blackstone Inc, the biggest manager of private equity and real estate assets, said on Thursday it was discussing partnerships with U.S. regional banks to help them with constraints in areas such as car loans and home improvement financing. The New York-based firm, which is one of the world’s biggest non-bank lenders, said…
WASHINGTON (Reuters) – U.S. House of Representatives Speaker Kevin McCarthy unveiled a bill this week that would pair $4.5 trillion in spending cuts with a $1.5 trillion increase in the federal debt limit, laying out an opening position in what is likely to be a tense partisan debate over government borrowing. Here is a summary…
By Nick Carey LONDON (Reuters) – UK auto supplier Dowlais is developing rare earth magnets for production in the U.S. market as carmakers look to source more parts locally and benefit from subsidies provided by the Inflation Reduction Act (IRA), its top executive said on Thursday. The company aims to launch production within 12 to…
By Ahmed Aboulenein and Michael Erman WASHINGTON (Reuters) – Use of the drug misoprostol on its own to terminate pregnancies is on the rise in the United States as providers seek a preemptive alternative while a ban on abortion pill mifepristone is being considered in court. Misoprostol is already part of the only medication abortion…
By Karin Strohecker, Dhara Ranasinghe and Davide Barbuscia LONDON/NEW YORK (Reuters) -Market jitters over the U.S. debt ceiling lifted the cost of insuring exposure to its debt to the highest level in over a decade on Thursday, while JPMorgan warned of a “non-trivial risk” of a technical default on U.S. Treasuries. A showdown over U.S….
By Dietrich Knauth (Reuters) -U.S. veterans and members of the military on Wednesday urged a judge to dismiss 3M’s bid to use the bankruptcy of its subsidiary Aearo Technologies to shield itself from nearly 260,000 lawsuits over military-issue earplugs that former users allege were defective and damaged their hearing. 3M and Aearo say the earplug…
By Siddarth S and Niket Nishant (Reuters) – American Express Co’s profit missed Wall Street estimates on Thursday despite higher spending by its customers as the credit card giant kept aside a large sum to cover potential defaults and spent more on promotions. Shares fell as much as 7% to a near three-month low of…
By Manya Saini (Reuters) – A clutch of U.S. regional lenders on Thursday joined peers in reporting deposit outflows for the first quarter as customers spooked by a banking crisis moved funds to bigger institutions or sought higher yields in money market funds. Shares in Fifth Third Bancorp, Comerica, Truist Financial Corp and KeyCorp fell…
