Oct 8 (Reuters) – Alphabet’s self-driving unit Waymo on Thursday said it has closed a $5 billion term loan, marking the company’s first debt financing as it looks to expand its autonomous ride-hailing service across the US and the world. Here are some details: • PIMCO, Blackstone and Sixth Street pa
WASHINGTON, Oct 8 (Reuters) – The average rate on the popular US 30-year fixed-rate mortgage surged to a near three-year high this week, and could increase further as concerns over inflation boost Treasury yields. The 30-year fixed mortgage rate averaged 7.40%, the highest level since November 2023,
(Chicago, IL) — McDonald’s is facing a federal lawsuit accusing the company of using AI pricing tools that unfairly drive up menu prices. The proposed class-action lawsuit claims the technology allows franchise locations to share non-public sales and pricing data, amounting to illegal price-fixing.
>>Diesel Prices Hurting Truckers, Economy (Wilmington, CA) — Record-high diesel prices are squeezing truckers and could mean higher prices for consumers. Triple-A puts today’s price for a gallon of diesel at six dollars and 28 cents. Some drivers are paying more than eight dollars a gallon, up sharp
(Refiles to fix hyperlink in paragraph 5) By Mike Scarcella WASHINGTON, Oct 8 (Reuters) – A federal antitrust lawsuit against McDonald’s this week claims the fast-food giant is using AI-powered tools to fix menu prices, marking the latest case to allege companies are relying on new technologies to c
Oct 8 (Reuters) – Starbucks has explored a takeover of Chipotle Mexican Grill, the Financial Times reported on Thursday, in a move that would reunite Chief Executive Brian Niccol with the burrito chain he led before joining the coffee giant two years ago. The potential deal comes as restaurant chain
Oct 8 (Reuters) – American Airlines said on Thursday it now intends to install SpaceX’s Starlink satellite internet service on its entire primary fleet of over 1,000 aircraft from next year, extending a plan already in place for roughly half of the fleet. • American Airlines in May had said it plans
Oct 8 (Reuters) – The Washington Post has appointed media veteran Alex Wallace its chief operating officer, the newspaper said on Thursday • Wallace will start on October 19 and work with CEO Jeff D’Onofrio to align teams across the company and track performance against business goals, the Post said
By Lucia Mutikani WASHINGTON, Oct 8 (Reuters) – The number of Americans filing new claims for unemployment benefits fell last week, pointing to continued labor market stability despite a sharp slowdown in job growth in September. Weekly jobless claims have now remained near 57-year lows for four str
Oct 8 (Reuters) – US stocks opened lower on Thursday as oil prices surged and Treasury yields hovered near multi-year highs, stoking inflation worries ahead of an earnings season that will test whether corporate profits can sustain the momentum. The Dow Jones Industrial Average fell 178.5 points, or
By Yukun Zhang and Kevin Yao BEIJING, Oct 8 (Reuters) – China pushed back against foreign criticism of its exchange-rate policy on Thursday, saying it has never pursued competitive depreciation, as European policymakers call for a stronger yuan to help curb China’s record trade surplus and export su
By Olivia Le Poidevin GENEVA, Oct 8 (Reuters) – The World Trade Organization upgraded its forecast for global merchandise trade growth on Thursday, saying demand for AI-related products had helped offset the impact of disruptions caused by the US-Israeli war with Iran. World merchandise trade volume
By Mike Dolan Oct 8 (Reuters) – Stock markets finally stalled on Wednesday and early Thursday as the bond crunch ground on, with the latest Federal Reserve minutes showing most policymakers in September saw more interest rate rises ahead. Markets have scaled back the Fed tightening horizon a bit in
Oct 8 (Reuters) – Upscale AI, a startup valued at $2 billion in June, launched a networking platform on Thursday that allows customers to build data centers using AI chips from different suppliers. Called Token Fabric, the platform combines hardware and software to connect AI processors across a dat
Oct 8 (Reuters) – Goldman Sachs Group’s top executives are set to receive special equity awards worth more than $500 million, Bloomberg News reported on Wednesday. The special awards were granted in October 2021, and Goldman disclosed details in various filings starting in late 2021 and early 2022,
MEXICO CITY, Oct 8 (Reuters) – Mexico’s auto exports posted their biggest slump so far this year, data from statistics office INEGI showed on Wednesday, a decline analysts attributed to tariff policies from the US, the biggest market for the Latin American country’s top industrial sector. Mexico aut
By Harshita Mary Varghese and Marie Mannes STOCKHOLM, Oct 8 (Reuters) – Polestar is close to selling out its remaining model year 2026 cars in the US, CEO Michael Lohscheller told Reuters on Thursday, as the Swedish automaker faces a US ban on selling new vehicles from the next model year. The compa
By Amy-Jo Crowley LONDON, Oct 8 (Reuters) – Britain’s BBC and Channel 4 have held preliminary talks with the government about a broader tie-up of some operations, two people with direct knowledge of the discussions said, in a potential shake-up of the country’s public broadcasters. One option under
By Tatiana Bautzer and Pritam Biswas NEW YORK, Oct 8 (Reuters) – Investors will scrutinize US quarterly bank earnings next week for signs that a recent spike in Treasury yields may curb dealmaking and lending growth and raise funding costs across the industry. Third-quarter earnings are expected to
By Tharuniyaa Lakshmi and Shashwat Chauhan Oct 8 (Reuters) – US stocks were on track for a lower open on Thursday as oil prices surged and Treasury yields hovered near multi-year highs, stoking inflation worries ahead of an earnings season that will test whether corporate profits can sustain the mom
By Anuja Bharat Mistry and Alexander Marrow Oct 8 (Reuters) – PepsiCo warned on Thursday that growth and margin recovery in its key North American market was taking longer than planned and said it would pursue additional cost cuts to offset sluggish demand for its snacks and beverages. Faced with hi
By Kalea Hall Oct 8 (Reuters) – US car shoppers have been slow to warm back up to electric vehicles since a key federal subsidy expired a year ago, despite persistently high gas prices, while Europeans have flocked to the cars. EV sales in the US are down 30.7% this year through September, according
By Marc Jones and Wayne Cole LONDON/SYDNEY, Oct 8 (Reuters) – Global shares slid on Thursday as strains in sovereign bond markets were aggravated by a jump in oil and gas prices and reports that some major tech firms were seeking to raise billions in debt in direct competition for limited funding. E
ROME, Oct 7 (Reuters) – Pfizer will cut around 330 jobs at its plant in Sicily, trade unions said on Wednesday, making the US drugmaker the latest international company downsizing its Italian operations. Talks in Rome between Pfizer and Italy’s industry ministry late on Tuesday did not yield results
By Emilio Parodi MILAN, Oct 8 (Reuters) – Italian prosecutors have requested that Luca Garavoglia, chairman of drinks group Campari, stand trial over alleged evasion of €1.29 billion ($1.45 billion) in taxes, two people with direct knowledge of the matter said. Lagfin, the Luxembourg-based family ho
LOS ANGELES, Oct 8 (Reuters) – US container imports rose 10.3% from a year earlier in September to set a new record for the month, buoyed by a 21.2% increase in shipments from China, supply-chain technology provider Descartes Systems Group said on Thursday. Experts view US import data as an indicato
By Howard Schneider WASHINGTON, Oct 8 (Reuters) – US Federal Reserve Governor Christopher Waller said on Thursday that additional rate hikes will likely be needed to lower inflation to the Fed’s 2% target, but added there was “flexibility” about the pace of increases and left the door open for a pau
SINGAPORE, Oct 8 (Reuters) – The number one challenge to expansion for BYD is geopolitics, Stella Li, BYD’s executive vice president, said on Thursday, months after the Chinese company’s chairman said it aims to become the world’s largest automaker within five years. • “When we do business, we want
TOKYO, Oct 8 (Reuters) – The Japanese operator of the 7-Eleven convenience store chain, Seven & i Holdings, said on Thursday it booked an 11% fall in second-quarter operating profit. The firm generated 127.3 billion yen ($805 million) operating profit over the June-August period, as compared to 132.
LONDON, Oct 8 (Reuters) – Accounting firm Deloitte has been fined £6.05 million ($7.98 million) over its audits of transport operator Go-Ahead Group for the financial years between 2016 and 2020, Britain’s Financial Reporting Council said on Thursday. The FRC said the penalty had been reduced from £
