Aug 13 (Reuters) – Fitch on Thursday affirmed the sovereign credit rating for the United States at “AA+” with a stable outlook, citing its large economy, high per-capita income and the U.S. dollar’s status as the world’s leading reserve currency. The U.S. economy remained resilient despite higher ta
By Jamie McGeever ORLANDO, Florida, Aug 13 (Reuters) – Stocks and bond prices rose on Thursday, with the S&P 500 barreling to a fresh high, as investors cheered another relatively benign snapshot of U.S. inflation that reduces the pressure on the Federal Reserve to raise interest rates. In my column
By Daniel Wiessner Aug 13 (Reuters) – The U.S. agency that enforces laws banning workplace discrimination has dropped a lawsuit seeking to enforce a subpoena in an investigation of Nike’s treatment of white employees, saying the company has handed over a trove of information. U.S. District Judge Cri
Broken engine parts shattered a window on a Ryanair flight shortly after takeoff in Greece last month, causing a man’s head to be sucked through the opening before fellow passengers pulled him back inside, U.S. investigators said Thursday. A fan blade in the Boeing 737-800’s right engine broke loose
Aug 13 (Reuters) – Billionaire Mark Walter offered to pledge his equity stake in Guggenheim Partners as part of a broader effort to raise billions of dollars for his insurance companies in recent weeks, Bloomberg News reported on Thursday. Investors were offered double-digit yields to lend capital t
CHICAGO (AP) — About 213,500 “Goody King” magnetic building toys were recalled in the U.S. on Thursday, due to an ingestion hazard posed that has resulted in at least two children receiving surgeries. According to a notice published by the U.S. Consumer Product Safety Commission, these toys’ buildin
By Promit Mukherjee OTTAWA, Aug 13 (Reuters) – A Canadian government source directly familiar with trade negotiations with the United States said on Thursday that talks were progressing well and Washington also wanted an agreement before a new U.S. tariff deadline on Aug. 19. U.S. President Donald T
CHICAGO (AP) — The average long-term U.S. mortgage rate fell slightly for the first time in six weeks on Thursday, marking a glimpse of relief for prospective homebuyers — although borrowing costs remain steeper than they were a year ago. The benchmark 30-year fixed rate mortgage rate tumbled to 6.6
By Gwladys Fouche ARENDAL, Norway, Aug 13 (Reuters) – Norway’s $2.3 trillion sovereign wealth fund is raising concerns about what it sees as a steady erosion of shareholder rights across major markets, warning that regulations increasingly favour company founders and insiders over independent invest
WASHINGTON, Aug 13 (Reuters) – A trio of emerging economic forces could boost global production of electric vehicles with implications for oil, power and metal markets, a report from Wood Mackenzie said on Thursday. The forces are oil supply shocks from wars in petroleum-producing countries Russia a
By Nora Eckert and Mike Colias Aug 13 (Reuters) – Detroit’s automakers plan to argue to the Trump administration that its proposals for a revised North American trade deal could cost the companies billions of dollars and hurt their competitiveness with foreign rivals. U.S. car companies are still st
WASHINGTON (AP) — Wholesale inflation dropped last month as gas prices reversed some of their Iran war spike and other costs also cooled, a sign that consumer inflation could grind lower in the months ahead. The Labor Department’s producer price index — which captures inflation before it reaches con
WASHINGTON (AP) — U.S. applications for unemployment benefits rose last week, but layoffs remain at historically healthy levels. The Labor Department reported Thursday that 209,000 people filed jobless claims last week, up from a revised 200,000 the week before and higher than the 205,000 forecaster
NEW YORK (AP) — When Jonah Seidenberg found out about Nike Minds, a futuristic-looking sneaker that claims to improve concentration by stimulating the soles of the feet, he had to have them. On a recent Saturday, the 12-year-old from the Chicago suburb of Northbrook and his mother searched StockX, a
By Ross Kerber Aug 13 (Reuters) – Extraordinary corporate compensation deals for Elon Musk have opened the door for the CEOs of other S&P 500 companies to win huge paydays, a new study shows. Even excluding the CEO of Tesla and SpaceX, average compensation for chief executives in the S&P 500 soared
By Manya Saini Aug 13 (Reuters) – Robinhood’s second venture fund debuted on Thursday, giving retail investors access to early-stage startups that have traditionally been out of reach for all but venture capital firms and wealthy investors. The fintech company raised $225.5 million in the initial pu
STOCKHOLM, Aug 13 (Reuters) – Swedish trade union IF Metall said on Thursday it was calling off its three-year-long industrial action against Tesla after the carmaker bought out all the union’s striking members at the company. “This means that the conflict no longer has any effect,” the union said i
Aug 13 (Reuters) – Wall Street’s main indexes opened higher on Thursday as crude oil prices fell, improving risk appetite, while investors parsed a softer-than-expected producer price inflation reading. The Dow Jones Industrial Average rose 58.3 points, or 0.11%, at the open to 53828.55. The S&P 500
NEW YORK (AP) — Ms. Lauryn Hill and her Fugees’ bandmate Wyclef Jean will bring their pointed and political music to Global Citizen Festival this fall. The headliners, announced Thursday, are a fitting choice. The annual gathering in New York’s Central Park rallies attendees to pressure world leader
Aug 13 (Reuters) – Cleveland Federal Reserve Bank President Beth Hammack on Thursday reiterated her view that the U.S. central bank should raise rates immediately to bring down too-high inflation and restrain business growth and investment. “When I’m talking to businesses, I hear that businesses are
WASHINGTON, Aug 13 (Reuters) – U.S. producer prices were unchanged in July as goods prices declined, though a rise in the cost of services suggested inflation could remain elevated. The flat reading in the Producer Price Index for final demand last month followed a revised 0.1% drop in June, the Lab
BEIJING, Aug 13 (Reuters) – Chinese artificial intelligence startup DeepSeek on Thursday formally released its official V4 Pro model, aiming to regain ground against fast-moving domestic rivals as it expands hiring, computing capacity and fundraising efforts. DeepSeek said the V4-Pro-0813 greatly en
By Howard Schneider GREENVILLE, South Carolina, Aug 13 (Reuters) – It is still not clear the U.S. Federal Reserve will have to raise interest rates to restore inflation to the central bank’s 2% target, Richmond Fed president Tom Barkin said on Thursday, noting several reasons to think price pressure
WASHINGTON (AP) — Public health experts have been quick to condemn an executive order from President Donald Trump aimed at upending childhood vaccinations in the U.S., but the biggest obstacles may be the unprecedented financial and logistical challenges it would impose on parents, health providers
BEIJING, Aug 13 (Reuters) – Chinese artificial intelligence startup DeepSeek will raise API prices for its V4-Pro and V4-Flash models and introduce peak and off-peak pricing, a company statement on Thursday showed. The new rates – ranging from 50% to 1,100% above current prices, depending on the mo
By Anushree Mukherjee Aug 13 (Reuters) – As the U.S.-Iran war drags on with no end in sight, oil traders and policymakers are grappling with a critical question: are global oil stocks enough to offset what could become the biggest supply disruption on record? The answer is far from clear, depending
Aug 13 (Reuters) – Futures tied to Wall Street’s main indexes inched higher on Thursday as crude oil prices fell and investors awaited producer-price inflation data for clues on inflation and the Federal Reserve’s interest rate path. Brent crude futures fell 1.9%, declining after six straight sessio
Aug 13 (Reuters) – Tapestry forecast sluggish growth in annual revenue on Thursday, overshadowing its better-than-expected quarterly profit, as persistent struggles at Kate Spade raise concerns about its ability to sustain growth beyond Coach. Shares of the company, which have risen roughly 20% this
By Mike Dolan Aug 13 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets There were no fireworks in the July consumer inflation report, offering marginal relief to markets wary of an upside surprise. Annual headline and core rates ticked down
Aug 13 (Reuters) – Accelerant said on Thursday that private equity firm Thoma Bravo will take the insurance marketplace private in an all-cash deal worth more than $4 billion, just over a year after its New York listing. Shareholders of Atlanta-based Accelerant will receive $20.25 per share in cash,
