Business

NEW YORK (Reuters) — A better-than-expected U.S. jobs report eased some worries about an imminent recession but also bolstered the case for the Federal Reserve to continue aggressively hiking rates, threatening more turbulence for asset prices this year. Hopes that a weakening economy could push th…

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits unexpectedly rose last week and there are growing signs that demand for labor is cooling, with layoffs surging to a 16-month high in June as the Federal Reserve’s aggressive monetary policy tightening s…

NEW YORK (Reuters) — Oil prices slid about 2% to a 12-week low in volatile trade on Wednesday, extending the prior session’s heavy losses as investors grew more worried energy demand would take a hit in a potential global recession. Looking ahead, analysts polled by Reuters forecast U.S. crud…

(NMC) — Majesty Restaurant is the latest company to sign on as a Northern Marianas College ProaPerks Partner, joining many other businesses and organizations. All card-carrying members of the NMC ProaPerks program can now receive an unlimited ice tea or hot tea. Majesty Restaurant,  joins the growi…

HOUSTON (Reuters) — More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs. The export of crude…

MANILA (Reuters) — The Philippine central bank may raise interest rates by an additional 100 basis points this year, its governor said on Wednesday, after annual inflation hit a near four-year high in June driven mainly by increases in food and fuel prices. “To begin with, even with no inflat…

(Reuters) — Voyager Digital said on Wednesday it has filed for bankruptcy, a week after the crypto lender suspended withdrawals, trading and deposits to its platform as it sought additional time to explore strategic alternatives. In its Chapter 11 bankruptcy filing on Tuesday, New Jersey-based Voya…

HONG KONG (Reuters) — Asian shares inched up on Tuesday morning as positive economic data and hints of easing Sino-U.S. tensions offered some respite to the recent sell-offs, though persistent fears about a global recession and sky-high inflation kept most buyers at bay. MSCI’s gauge of Asia …

SEOUL (Reuters) — South Korea’s inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expectations of a big rate hike by the central bank. Data showed on Tuesday the…

OSLO (Reuters) — Norwegian offshore workers on Tuesday began a strike that will reduce oil and gas output, the union leading the industrial action told Reuters. The strike, in which workers are demanding wage hikes to compensate for rising inflation, comes amid high oil and gas prices, with supplie…