Business

NEW YORK (Reuters) — The stock market’s brutal year neared a grim milestone as the S&P 500’s slide on Friday threatened to leave it in a bear market for the first time since March 2020, fueled by worries over sky high inflation, a hawkish Federal Reserve and future economic growth. …

SEOUL (Reuters) — Hyundai Motor Group said on Sunday it would invest an additional $5 billion in the United States by 2025 to strengthen collaboration with U.S. firms in advanced technology. The investments, announced during a visit to Seoul by President Joe Biden, are for robotics, urban air mobil…

SAN FRANCISCO (Reuters) — Leo KoGuan, a major individual investor in Tesla, on Thursday called on the electric carmaker to buy back shares, after Tesla stocks took a hit from CEO Elon Musk’s deal to buy Twitter. The comments came as high-profile Tesla bull Daniel Ives, an analyst at Wedbush, …

(Reuters) — Kohl’s Corp cut its full-year earnings forecast on Thursday, joining some of the largest U.S. retailers in warning that red-hot inflation is starting to erode profit margins and consumer spending power. Walmart Inc and Target Corp reported substantial drops in quarterly earnings t…

NEW YORK (Reuters) — Evidence of red-hot inflation seeping into the American economy is sending a chill through investors after major U.S. retailers reported people are cutting back on buying bigger-ticket items as they just try to get by. Investors wiped almost 25% off Target shares on Wednesday a…

WASHINGTON (Reuters) — Permits for future U.S. homebuilding tumbled to a five-month low in April, suggesting the housing market was slowing as rising mortgage rates contribute to reduced affordability for entry-level and first-time buyers. But the report from the Commerce Department on Wednesday al…

(Reuters) — The Nasdaq and the S&P 500 dropped 3% on Wednesday as a rally in growth shares faded amid economic growth concerns, while Target plunged to the bottom of the S&P 500 after the retailer became the latest victim of surging prices. Target Corp’s first-quarter profit halved an…

FIFTY years in 2022! Established in 1972, Saipan Seventh-day Adventist Clinic turns 50 this year. To celebrate this milestone, the Clinic aptly emblazons its golden anniversary theme: “Celebrating 50 years of providing exceptional dental services in the CNMI.” The Saipan SDA Clinic has gone a long …

WASHINGTON (Reuters) — U.S. retail sales rose strongly in April as consumers spent more on motor vehicles amid an improvement in supply and increased spending at restaurants, providing a powerful boost to the economy at the start of the second quarter. The broad rise in retail sales reported by the…

WASHINGTON (Reuters) — The U.S. economy is likely to continue growing at an above-trend pace for at least the next 18 months, and households are likely to continue spending as the influence of the pandemic fades, St. Louis Fed President James Bullard said on Tuesday. Growth in the range of 2.5% to …