NEW YORK (AP) — Consumers may be griping about higher prices at the pump and elsewhere, but they keep spending, helping to power the economy, according to the latest government snapshot. Retail sales rebounded at a better-than-expected 1.2% increase last month after recording a revised 0.5% dip in J
(SRN NEWS) – American consumers delivered a stronger-than-expected performance in August, increasing retail spending even as higher prices and sharply rising gasoline costs put renewed pressure on household budgets. Retail sales climbed 1.2% last month, reversing a revised 0.5% decline in July, acco
WASHINGTON, Sept 16 (Reuters) – U.S. homebuilder sentiment dropped to a one-year low in September as rising mortgage rates dampen demand for housing, a survey showed on Wednesday. The National Association of Home Builders/Wells Fargo Housing Market index fell three points to 32 this month, the lowes
Sept 16 (Reuters) – The major U.S. stock indexes opened higher following a two-day slide, as lower oil prices offered some relief during a tense wait for the Federal Reserve’s interest rate decision on Wednesday. The Dow Jones Industrial Average rose 22.3 points, or 0.04%, at the open to 52,115.4. T
By Leo Marchandon Sept 16 (Reuters) – Canada’s Cohere and Germany’s Aleph Alpha signed a definitive merger agreement on Wednesday, the AI companies said. The combined business will operate as Cohere, with dual headquarters in Toronto and Berlin, while Aleph Alpha’s Heidelberg office will focus on re
LONDON, Sept 16 (Reuters) – Hedge funds increased bets against consumer-focused companies in August and cut some of their bets against AI-related stocks, but turned more bearish towards Alphabet, according to a report on Wednesday from data platform Hazeltree. Last month, as the war in the Middle Ea
By Lucia Mutikani WASHINGTON, Sept 16 (Reuters) – U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy’s resilience even as consumers grow more anxious about high inflation. Strong
Crossovers have become a popular choice for buyers who want the practicality of an SUV without the size and expense of a larger vehicle. For many shoppers, that means finding a vehicle that’s easy to live with, offers enough room for everyday duties, keeps fuel costs in check, and provides the versa
By Richa Naidu LONDON, Sept 16 (Reuters) – Consumer health company Haleon has achieved growing sales of products to counter side-effects of weight-loss drugs in the United States, the company said, capitalising on the rising popularity of GLP-1 medication. Drugs such as Novo Nordisk’s Wegovy and Eli
By Niket Nishant and Tharuniyaa Lakshmi Sept 16 (Reuters) – U.S. stock index futures attempted a recovery on Wednesday following a two-day slide, as lower oil prices offered some relief during a tense wait for the Federal Reserve’s interest rate decision. The rate move, scheduled to be announced at
LONDON (AP) — Inflation in the United Kingdom rose to a five-month high as the aftershocks of the Iran war continued to ratchet up fuel prices, official figures showed Wednesday, an increase that will pressure the Bank of England to hike interest rates again over coming months. The Office for Nation
Sept 16 (Reuters) – A majority of younger U.S. healthcare workers plan to explore new jobs within the next year, even as many want long-term stability with a single employer, a survey released on Wednesday found. The findings highlight a retention challenge for U.S. healthcare employers already faci
Sept 16 (Reuters) – Dollarama raised its annual comparable sales growth forecast on Wednesday, as shoppers facing mounting inflationary pressures increasingly turn to its low-cost everyday products such as grocery and household items. The discount retailer expects annual comparable sales in Canada t
By Michael S. Derby Sept 16 (Reuters) – Surging government bond yields are raising credit costs across the U.S. economy and could factor into Federal Reserve monetary policy deliberations, but analysts see the central bank resisting any explicit call from the Trump administration to bail out the mar
By Anna Szymanski Sept 16 (Reuters) – An unsettled few days set the scene for the week’s main event: the Federal Reserve’s policy decision. Markets overwhelmingly expect a quarter-point rate hike, the central bank’s first since 2023, against the backdrop of resurgent oil prices and a 10-year Treasur
CAIRO (AP) — Saudi Arabia accused Yemen’s Iran-backed Houthi rebels overnight of trying to attack Islam’s holiest city, prompting condemnation from countries in the region but no sign of military support. The kingdom, a key U.S. ally, declared Mecca a “red line” as it slid deeper into the new front
BRUSSELS (AP) — The European Union’s top official proposed on Wednesday banning children under 13 across the 27-nation bloc from using social media sites and imposing limits for older teens on accessing the platforms. The plan outlined by European Commission President Ursula von der Leyen adds to gl
STRASBOURG, France (AP) — European Commission President Ursula von der Leyen on Wednesday proposed making Canada the European Union’s first associate member, a striking overture as U.S. President Donald Trump’s threats drive Ottawa closer to Europe. Trump’s tariffs and repeated talk of making Canada
By Kalea Hall DETROIT, Sept 16 (Reuters) – Florida car dealer Bill Wallace says the majority of customers lately are asking about hybrid options, eager for relief from high gasoline prices. Salespeople at his 16 dealerships — including Hyundai, Kia and Mazda — have plenty to talk about. But not at h
BERLIN, Sept 16 (Reuters) – Labour representatives at auto supplier Bosch demanded on Wednesday political action at EU level to stem job losses in the industry by drawing up regulations to promote local production. “The transformation of our industry will only succeed if we keep value creation and j
By Howard Schneider WASHINGTON, Sept 16 (Reuters) – The Federal Reserve is expected on Wednesday to hike interest rates for the first time since 2023, a decision driven by stubbornly high inflation and a global rise in borrowing costs that will heighten scrutiny of how U.S. central bank chief Kevin
By Yantoultra Ngui, Miho Uranaka and Kane Wu HONG KONG, Sept 16 (Reuters) – Starbucks Corp is weighing the sale of a majority stake in its Japan business in a potential deal that could value the coffee chain’s biggest overseas company-operated market at about $3 billion, two people with knowledge of
MANILA, Philippines (AP) — A Philippine lawmaker and former speaker of the House of Representatives pleaded not guilty Wednesday to charges alleging he pocketed millions of dollars in kickbacks from flood control projects, his lawyer said. Rep. Martin Romualdez, a cousin and former ally of President
By Phuong Nguyen and Francesco Guarascio HANOI, Sept 16 (Reuters) – A string of agreements is expected to be announced next week by U.S. and Vietnamese corporations involving energy, tech, aviation and financial firms as Vietnam’s leader To Lam travels to New York, according to officials and two doc
Sept 16 (Reuters) – A U.S. court judge has accepted Latvian carrier airBaltic’s request to enter Chapter 11 under the U.S. bankruptcy code and restructure its debt, Prime Minister Andris Kulbergs said on Wednesday. “This means that airBaltic will be able to: immediately access financing; begin the r
NAIROBI, Kenya (AP) — Egypt is betting that building wind turbines at home can help it build a renewable-energy industry, positioning it as a template for Africa’s push for renewable-energy industrialization. The country signed a deal with China’s SANY Renewable Energy to develop a 2,000-megawatt wi
HONG KONG (AP) — Asian shares were mostly higher Wednesday despite losses on Wall Street, as investors await the Federal Reserve’s decision on interest rates, with high expectations of a rate hike. U.S. futures also edged higher. There is widespread expectation that the Fed will hike rates Wednesday
NEW YORK (AP) — A trade war between the United States and Canada is making it more difficult and expensive for small businesses in the economically entwined countries to operate, according to business owners caught in the crossfire. Canada imposed reciprocal tariffs on about $20 billion (CA$27.6 bil
WASHINGTON (AP) — Barely four months into the job, Federal Reserve Chair Kevin Warsh is stuck between two strong and opposing forces: Financial markets that anticipate the central bank will raise interest rates, and President Donald Trump, who wants the Fed to cut them or leave them unchanged. Econo
A look at the day ahead in European and global markets from Gregor Stuart Hunter Federal Reserve Chair Kevin Warsh is likely to come out of Wednesday’s policy decision bruised one way or another. If he stands pat, markets may revolt. If he pulls the trigger on a rate hike, the White House almost cer
