Business News

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the labor market remains tight even as demand for labor is cooling amid higher interest rates. Initial claims for state unemployment benefits rose 29,000 to a seaso…

OPEN Ocean Aquaculture is an emerging approach to raise fish in open ocean waters utilizing submersible cages or net pens. Hawaii has been successfully operating commercial open ocean aquaculture cages in the U.S. In this natural, high energy environment fish grow better and are healthier. Open Oce…

WASHINGTON (Reuters) —  Faced with mounting evidence that loose U.S. monetary policy contributed to the breakout of inflation last year, the Federal Reserve now faces the risk it jumped too far the other way with its plans to fight price pressures through continued aggressive interest rate hikes ev…

LONDON (Reuters) — World stocks clung to two-week highs on Wednesday, although another aggressive rate increase from New Zealand tempered the idea that central banks may be close to slowing down the pace of rapid monetary tightening. Oil prices inched higher before a meeting of OPEC+ producers to d…

MANILA (Reuters) — The Philippine central bank said on Tuesday it was taking steps to manage any disruption in the financial market, and urged participants not to take advantage of a peso currency hovering at record lows against the dollar. The peso closed at a record 59 to the greenback on Monday,…

(Reuters) — Billionaire Elon Musk is proposing to proceed with his original $44 billion bid to take Twitter Inc private, security filings showed on Tuesday, calling for an end to a lawsuit by the social media company that could have forced him to pay up, whether he wanted to or not. An agreement wo…

SAN FRANCISCO (Reuters) — As recently as July, Tesla Chief Executive Elon Musk said the electric-car maker did not have a problem with customer demand, simply a problem making and shipping all the Model Ys and Model 3s consumers were ready to buy. That may no longer be true. Analysts see early sign…

PASADENA, Calif. (Reuters) — Fast-food French fries and onion rings are going high-tech, thanks to a company in Southern California. Miso Robotics Inc in Pasadena has started rolling out its Flippy 2 robot, which automates the process of deep frying potatoes, onions and other foods. A big robotic a…

PTI Pacifica Inc., which does business as IT&E, announced Monday that it has won nine licenses from the Federal Communications Commission to operate on the 2.5 gigahertz or GHz spectrum in Guam and the CNMI. This means that IT&E will be able to offer wireless services on this spectrum to co…

BIRMINGHAM, England (Reuters) — British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn after less than a month in power, reversing a cut to the highest rate of income tax that helped spark turmoil in financial markets and a rebellion in her party. Finance minister Kwasi Kwa…