After reporting decreases by first-time claims for U.S. unemployment benefits over the two previous weeks, the Labor Department released a report on Thursday showing a modest rebound by initial jobless claims in the week ended August 17th. The report said initial jobless claims rose to 232,000, an increase of 4,000 from the previous weeks revised...
Omnichannel retail giant Walmart Inc. has joined with quick service hamburger chain Burger King for offering exclusive dining benefit for Walmart+ members. In a first-of-its-kind partnership, Walmart+ members, starting Today, will enjoy 25% off any Burger King digital order every day. Further, starting in September, members can receive a free flame-grilled Whopper every three months...
Luxury home furnishing retailer Williams-Sonoma Inc. (WSM) reported Thursday that net earnings for the second quarter grew to $225.75 million or $1.74 per share from $201.51 million or $1.56 per share in the prior-year quarter. On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $1.60 per share for the...
The National Transportation Safety Board or NTSB has opened an investigation into the recent crash and fire of a Tesla Inc. Semi truck in California. In the incident, the Tesla Semi ran off the road on Interstate 80 near Emigrant Gap, California in the early morning Monday. Though no one was injured in the accident,...
Asian shares ended mixed in muted trading Friday as investors awaited Fed Chair Jerome Powells Jackson Hole speech later in the day for confirmation U.S. rate cuts would start in September. The dollar extended its recent sharp slide and Treasury yields eased while gold edged up slightly but was poised for a weekly loss. Crude...
The U.S. Food and Drug Administration approved and granted emergency use authorization or EUA for updated Covid vaccines from Pfizer Inc. and ModernaTX Inc. for use against currently circulating variants. The approval for the updated mRNA COVID-19 vaccines (2024-2025 formula) comes as the Covid cases are surging in the United States. The updated mRNA COVID-19...
German stocks rose modestly on Friday as investors awaited Fed Chair Jerome Powells Jackson Hole speech later in the day for confirmation U.S. rate cuts would start in September. With a recession looming large on the economy and inflationary pressures abating, markets currently expect the U.S. Federal Reserve to deliver three quarter-point rate cuts at...
European stocks traded slightly higher on Thursday as a survey showed Eurozone manufacturing PMI fell from 45.8 to an 8-month low of 45.6 in August, reinforcing investor bets on a September ECB rate cut. Overall business activity showed surprising strength in August as a strong rebound in the blocs dominant services industry offset a deeper...
The British pound strengthened against other major currencies in the European session on Thursday. The pound rose to more than a 1-year high of 1.3129 against the U.S. dollar, from an early low of 1.3081. Against the euro and the Swiss franc, the pound advanced to nearly a 3-week high of 0.8488 and a 2-day...
Policymakers at the European Central Bank were keen to explore the option of reducing interest rates in the monetary policy meeting in September as they turned wary of the mixed bag of recent economic data, minutes of the July 17-18 rate-setting session showed Thursday. The Governing Council, led by ECB President Christine Lagarde, left the...