US weekly jobless claims rise to 260,000 ahead of nonfarm payrolls report

US weekly jobless claims rise to 260,000 ahead of nonfarm payrolls report

Initial claims for unemployment insurance totaled 260,000 last week, near the highest level since November amid a shift in the US labor market. The total for the week ended July 30 was in line with the Dow Jones estimate but a gain of 6,000 from the previous week’s downwardly revised level, the Labor Department reported … Read more

Wind-whipped fire leaves Northern California hamlet in ashes

Wind-whipped fire leaves Northern California hamlet in ashes

KLAMATH RIVER, Calif. — A week ago, the scenic Northern California hamlet of Klamath River was home to about 200 people and had a community center, post office and a corner grocery store. Now, after a wildfire raged through the forested region near the Oregon state line, four people are dead and the store is … Read more

Stock futures are flat as Wall Street takes a breather after Dow’s 400-point rally

Stock futures are flat as Wall Street takes a breather after Dow's 400-point rally

Bank of England announces largest interest rate hike in 27 years The Bank of England on Thursday hiked interest rates by half of a percentage point, the sixth consecutive increase and first bump of this size since 1997, in an effort to cool off inflation. Inflation in the UK is also at a 40-year high, … Read more

Pelosi Taiwan visit puts TSMC back in spotlight of US-China rivalry

Pelosi Taiwan visit puts TSMC back in spotlight of US-China rivalry

Taiwan Semiconductor Manufacturing Company (TSMC) is the biggest contract chipmaker in the world. But it has been thrust in the middle of US-China geopolitical tensions. logo displayed on the screen. Rafael Henrique | Sopa Pictures | light rocket | Getty Images US House Speaker Nancy Pelosi may have left Taiwan but the visit has cast … Read more

Senate set to vote to ratify adding Sweden, Finland to NATO

Senate set to vote to ratify adding Sweden, Finland to NATO

WASHINGTON (AP) — The Senate was set Wednesday to ratify NATO membership for Finland and Swedenwith overwhelming bipartisan support expected for quickly expanding the Western military alliance in response to Russia’s invasion of Ukraine. Senate minority leader Mitch McConnell, who visited Kyiv and the region earlier this year, urged a unanimous show of approval. Speaking … Read more

Walmart lays off corporate employees after slashing forecast

Walmart lays off corporate employees after slashing forecast

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey VIEW press | Corbis News | Getty Images walmart confirmed on Wednesday that it has begun to lay off corporate employees about a week after the company slashed its profit outlook and warned consumers had pulled back on discretionary spending … Read more

Stock futures rise as Wall Street tries to rebound from back-to-back losing sessions

Stock futures rise as Wall Street tries to rebound from back-to-back losing sessions

OPEC+ set to increase oil production by tiny amount OPEC and its allies on Wednesday agreed to raise oil production by a small amount, 100,000 barrels per day, in response to President Joe Biden’s trip to Saudi Arabia last month. During the visit, Biden had aimed to persuade the group’s leader to pump more oil … Read more

Pelosi’s trip to Taiwan makes matters worse for US and China relations

Pelosi's trip to Taiwan makes matters worse for US and China relations

House Speaker Nancy Pelosi’s trip to Taiwan ramps up US-China tensions and risks pushing the countries further apart, according to one economist. On Wednesday, the top US lawmaker met Taiwan President Tsai Ing-wen in a highly controversial visit that has angered Beijing. “We’re on a trajectory of escalating conflict and this will certainly make matters … Read more

Starbucks (SBUX) Q3 2022 earnings beat estimates

Starbucks (SBUX) Q3 2022 earnings beat estimates

An employee hands a bag to a customer at the drive-thru of a Starbucks coffee shop in Hercules, California, on Thursday, July 28, 2022. David Paul Morris | Bloomberg | Getty Images Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, fueled by demand in the US for its cold coffee drinks. As inflation surges, … Read more

Horror author Stephen King testifies against $2bn Penguin merger | Arts and Culture News

Horror author Stephen King testifies against $2bn Penguin merger |  Arts and Culture News

The proposed deal could see the biggest book publisher, Penguin, take over Simon & Schuster, which is the fourth largest. By Sabrina WillmerBloomberg Published On 2 Aug 2022Aug 2, 2022 Best-selling horror author Stephen King tested against Penguin Random House’s proposed $2.18 billion acquisition of Simon & Schuster, saying it would weaken competition in the … Read more