Business News

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits increased to the highest level in nearly five months last week, but that likely does not mark a material shift in labor market conditions, which remain extremely tight. The report from the Labor Department on…

WASHINGTON (Reuters) — The International Monetary Fund expects to further cut its forecast for global economic growth in 2022 next month, an IMF spokesperson said on Thursday, following moves by the World Bank and Organization for Economic Co-operation and Development to cut their own forecasts thi…

(Reuters) — Wall Street’s main indexes fell in choppy trading on Thursday, as growth and bank stocks slipped amid weaker risk appetite ahead of a closely watched inflation report this week. Nine of the 11 major S&P sectors traded lower, with energy, financials and materials down 1% each. …

HONG KONG (Reuters) — Asia stocks rose on Wednesday, encouraged by a rally on Wall Street, but gains were kept in check by worries that aggressive central bank policy tightening will stifle global growth and raise the risks of stagflation. The World Bank on Tuesday slashed its global growth forecas…

WASHINGTON (Reuters) — U.S. Treasury Secretary Janet Yellen told senators on Tuesday that she expected inflation to remain high and the Biden administration would likely increase the 4.7% inflation forecast for this year in its budget proposal. During a Senate Finance Committee hearing, Yellen said…

SINGAPORE (Reuters) — Oil prices drifted higher on Wednesday, anticipating a report of low U.S. oil stocks, while expectations of solid demand in the upcoming driving season also lent support. Brent crude futures for August had risen 21 cents, or 0.2%, to $120.79 a barrel by 0413 GMT after closing …

CUPERTINO, Calif. (Reuters) — Apple Inc on Monday announced it would more deeply integrate its software into the core driving systems of cars, while the iPhone maker rolled out a slew of features for payments and business collaboration and a pair of new laptops. The announcements at Apple’s a…

SINGAPORE (Reuters) — Asia’s stock markets edged lower on Tuesday, the yen hit a 20-year low and bond markets wavered as investors nervously awaited U.S. inflation figures and central bank meetings in Australia, Europe and, next week, in the United States. British Prime Minister Boris Johnson…

(Reuters) — Elon Musk warned Twitter Inc on Monday that he might walk away from his $44 billion deal to acquire the social media company if it fails to provide the data on spam and fake accounts that he seeks. This was not the first time Musk had suggested publicly his acquisition of Twitter may no…

WASHINGTON (Reuters) — U.S. Commerce Secretary Gina Raimondo said on Sunday that President Joe Biden has asked his team to look at the option of lifting some tariffs on China that were put into place by former President Donald Trump, to combat the current high inflation. “We are looking at it…