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America In Focus: Fed officials eye higher rates; unemployment claims fall

The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store and gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses. Here’s a sna

· SRN Business
America In Focus: Fed officials eye higher rates; unemployment claims fall
business

Wall Street week ahead: Reports on consumer confidence and inflation on tap

NEW YORK (AP) — Wall Street will get key updates next week on closely-watched measures for consumer confidence and inflation. The latest consumer confidence report from business group The Conference Board will be released Tuesday. Wall Street expects the report to show that confidence in the U.S. ec

· SRN Business
Wall Street week ahead: Reports on consumer confidence and inflation on tap
business

Vatican to build €100 million renewable energy plant, sources say

By Giselda Vagnoni ROME, Aug 22 (Reuters) – The Vatican will build a roughly €100 million ($117 million) renewable energy plant that could power the Holy See within two years via a system combining solar power and agriculture, sources involved in discussions on the project said. The agrivoltaic plan

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Vatican to build €100 million renewable energy plant, sources say
business

South Korea ship to test Arctic commercial route amid Western concerns

SEOUL, Aug 22 (Reuters) – A South Korean container ship sets sail on Saturday for Europe via the Arctic in the nation’s first commercial voyage on the route to test its viability, with the hope of turning the southeastern port of Busan into a global maritime hub. The PanStar Acro will sail north, hu

· SRN Business
South Korea ship to test Arctic commercial route amid Western concerns
business

Judge narrows Ben & Jerry’s lawsuit accusing Unilever of silencing social activism

By Jonathan Stempel NEW YORK, Aug 21 (Reuters) – A federal judge on Friday dismissed major portions of a Ben & Jerry’s lawsuit accusing its former parent Unilever of trying to silence the ice cream maker’s social activism, dismantle its board and stop funding its namesake foundation. U.S. District J

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Judge narrows Ben & Jerry’s lawsuit accusing Unilever of silencing social activism
business

Trump says he did not direct Bessent to intervene in bond market

By Kanishka Singh WASHINGTON, Aug 21 (Reuters) – U.S. President Donald Trump said on Friday he did not direct Treasury Secretary Scott Bessent to intervene in the bond market this week and that the Treasury chief acted on his own authority based on his understanding of the issues. Here are details:

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Trump says he did not direct Bessent to intervene in bond market
business

US Treasury Secretary Bessent to hold press conference on Monday

WASHINGTON, Aug 21 (Reuters) – U.S. Treasury Secretary Scott Bessent will hold a press conference on Monday, according to a statement, after the U.S. warned of more sanctions against Iran and took steps to try to lower long-dated Treasury bond yields. • The press conference, which will be held at th

· SRN Business
US Treasury Secretary Bessent to hold press conference on Monday
business

Mexico expects trade outcomes similar to emerging US-Canada deal

MEXICO CITY, Aug 21 (Reuters) – Mexican Economy Minister Marcelo Ebrard said on Friday he expects Mexico to reach trade understandings with the United States that are “similar in many aspects” to those being discussed between Washington and Ottawa, adding that Mexico does not see Canada’s parallel n

· SRN Business
Mexico expects trade outcomes similar to emerging US-Canada deal
business

Boeing engineers, technical workers reject contract offer

By Dan Catchpole SEATTLE, Aug 21 (Reuters) – Boeing engineers and technical workers overwhelmingly rejected the U.S. planemaker’s four-year contract offer, union officials said on Friday. The 17,000 members of SPEEA, the Society of Professional Engineering Employees in Aerospace, also voted convinci

· SRN Business
Boeing engineers, technical workers reject contract offer
business

German state politician calls for EU tariffs on Chinese hybrid cars, letter shows

By Andreas Rinke BERLIN, Aug 21 (Reuters) – Sebastian Lechner, the CDU state chairman of Lower Saxony, is calling for the European Union to quickly impose import tariffs on Chinese hybrid cars, a letter seen by Reuters on Friday showed. • “It is precisely these hybrids that are currently facing the

· SRN Business
German state politician calls for EU tariffs on Chinese hybrid cars, letter shows
business

From rural routes to desegregation runs, the yellow school bus faces a new reality

CHICAGO (AP) — They arrived in a kaleidoscope of colors, but one won. For decades, the American school bus has maintained such a standard look that “school bus yellow” is national shorthand for their deep, glossy hue. No act of Congress mandated the color, with its slight orange tint. Rather, a 1939

· SRN Business
From rural routes to desegregation runs, the yellow school bus faces a new reality
business

Ex-Abercrombie & Fitch CEO is mentally fit for sex trafficking trial, judge says

NEW YORK (AP) — The former CEO of Abercrombie & Fitch is mentally competent to stand trial as he faces sex trafficking charges after being hospitalized for months for dementia and Alzheimer’s symptoms, a federal judge ruled. U.S. District Court Judge Nusrat Choudhury, in her Thursday decision, concl

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Ex-Abercrombie & Fitch CEO is mentally fit for sex trafficking trial, judge says
business

Ken Griffin’s Citadel sheds over 80% of Situational Awareness’ bets

By Anirban Sen and Arasu Kannagi Basil Aug 21 (Reuters) – Billionaire investor Ken Griffin’s Citadel has shed more than 80% of bets from the original portfolio of Leopold Aschenbrenner’s Situational Awareness that it recently purchased, according to a letter to investors seen by Reuters on Friday. S

· SRN Business
Ken Griffin’s Citadel sheds over 80% of Situational Awareness’ bets
business

Citadel sheds over 80% of aggregate risk from Situational Awareness portfolio

By Anirban Sen and Arasu Kannagi Basil Aug 21 (Reuters) – Billionaire investor Ken Griffin’s Citadel has shed more than 80% of the aggregate risk from the original portfolio of Leopold Aschenbrenner’s Situational Awareness, which it recently purchased, according to a letter sent to investors that wa

· SRN Business
Citadel sheds over 80% of aggregate risk from Situational Awareness portfolio
business

Volkswagen needs deep cuts to remain competitive, CEO says ahead of crunch talks

By Christina Amann BERLIN, Aug 21 (Reuters) – Volkswagen CEO Oliver Blume warned on Friday that the car sector’s problems would only intensify in the coming years, arguing deep cost cuts were needed to keep Europe’s top automaker afloat as it gears up for weeks of crunch talks over a planned revamp.

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Volkswagen needs deep cuts to remain competitive, CEO says ahead of crunch talks
business

US service sector fuels acceleration in business activity, S&P Global says

Aug 21 (Reuters) – The strongest growth in the U.S. services sector in nearly two years powered a sharp acceleration in overall business activity in August, offsetting a slowing of growth in a manufacturing sector being restrained by reduced stock building and supply disruptions from the U.S.-led wa

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US service sector fuels acceleration in business activity, S&P Global says
business

Canada retail sales rise 0.6% in June, StatsCan says

By Promit Mukherjee OTTAWA, August 21 (Reuters) – Canada’s retail sales rose 0.6% in June, beating an average analyst expectation of 0.4%, as sales jumped at clothing and general merchandise stores, data showed on Friday. Retail sales, which include purchases of cars, furniture, food and gasoline, a

· SRN Business
Canada retail sales rise 0.6% in June, StatsCan says
business

Wall St opens higher but weekly losses loom

Aug 21 (Reuters) – Wall Street’s main indexes opened higher on Friday after getting hammered in the previous session, though markets remained on track to end the week in the red as surging government bond yields and geopolitical tensions weighed on risk appetite. The Dow Jones Industrial Average ros

· SRN Business
Wall St opens higher but weekly losses loom
business

Traders are bracing for an increasingly hawkish ECB

By Stefano Rebaudo Aug 21 (Reuters) – Money markets are bracing for an increasingly hawkish European Central Bank, wagering that geopolitical tensions will complicate its inflation battle and keep price pressures stubborn enough to lift the key deposit rate to almost 3% by late 2027. The ECB is expe

· SRN Business
Traders are bracing for an increasingly hawkish ECB