WASHINGTON (Reuters) – U.S. mortgage rates increased for a fourth straight week this week, suggesting the housing market could remain on the back foot for some time even as the Federal Reserve cuts interest rates. The average rate on the popular 30-year fixed-rate mortgage rose to 6.54% from 6.44% last week, mortgage finance agency Freddie …
By Tanay Dhumal (Reuters) – Chemical company Dow said on Thursday it has begun a review of some of its European assets, and forecast fourth-quarter revenue below market expectations. The review was necessitated by weak demand recovery and competitive regulatory policies, Dow said, sending its shares down 1.2% to $50.86. The European assets account for …
Dow forecasts weak Q4, sagging demand leads to review of some Europe assets Read More »
By Nichola Groom and Ernest Scheyder (Reuters) -The U.S. Treasury Department said on Thursday it would allow some mining companies to access a tax credit aimed at boosting American production of solar panels, lithium-ion batteries and other clean energy components, a shift in position after industry pressure. The move reflects the growing realization in Washington …
US Treasury allows miners to access clean energy manufacturing subsidy Read More »
By Ananta Agarwal, Lisa Baertlein (Reuters) -United Parcel Service reported better-than-expected quarterly profit and revenue on Thursday, ahead of the crucial peak holiday season, boosted by rebounding volume and effective cost controls and shares soared as much as 10% in early trading. The world’s biggest package delivery firm also raised its full-year adjusted operating margin …
UPS returns to profit, revenue growth ahead of crucial holidays; shares jump Read More »
(Reuters) -Canada’s Rogers Communications missed third-quarter revenue estimates on Thursday as lower-than-expected wireless subscribers additions offset its higher sports-related revenue, sending its shares down nearly 3%. The owner of the Toronto Blue Jays baseball team also announced a C$7 billion ($5.06 billion) equity financing deal with an undisclosed investor, which would help it reduce its …
Rogers’ quarterly revenue takes hit from downbeat wireless subscriber growth Read More »
WASHINGTON (Reuters) – Sales of new U.S. single-family homes increased to the highest level in nearly 1-1/2 years in September as buyers rushed in to take advantage of a decline in mortgage rates. New home sales jumped 4.1% to a seasonally adjusted annual rate of 738,000 units last month, the highest level since May 2023, …
US new home sales highest in nearly 1-1/2 years in September Read More »
By Mike Spector, Nate Raymond and Chris Prentice (Reuters) -A Texas federal judge with a record of ruling in favor of conservative causes injected uncertainty into Boeing’s agreement to plead guilty over two fatal 737 MAX plane crashes, seizing upon a single sentence in the deal about the U.S. Department of Justice’s diversity policy. In …
How a US judge injected culture wars into Boeing 737 MAX plea deal Read More »
By Chad Terhune (Reuters) – Drugs like Wegovy may trim your waistline but not medical costs, according to an analysis of U.S. health insurance claims shared with Reuters. The full-year cost of care for U.S. patients with obesity two years after starting on Novo Nordisk’s Wegovy or similar GLP-1 drugs was $18,507, on average. That …
Exclusive: Weight-loss drugs didn’t curb health costs within two years, data show Read More »
WASHINGTON (Reuters) – U.S. business activity increased in October amid strong demand, and firms raised prices for goods and services at the slowest pace in nearly 4-1/2 years, indicating that the economy started the fourth quarter in solid shape. S&P Global said on Thursday that its flash U.S. Composite PMI Output Index, which tracks the …
US business activity rises in October; price pressures easing Read More »
By Promit Mukherjee OTTAWA (Reuters) – The Bank of Canada’s annual economic growth forecast is overly optimistic, economists said, and another large interest rate cut this year will likely be required to boost growth. Economists widely expected the BoC to lower its annual gross domestic product (GDP) forecast when it released its quarterly monetary policy …
Bank of Canada may need another big rate cut to adjust for slow growth, economists say Read More »
