Reuters US Business

By Lucia Mutikani WASHINGTON (Reuters) – U.S. homebuilding plunged to a more than three-year low in August as a resurgence in mortgage rates weighed on demand for housing, but a jump in permits suggested new construction remained supported by a dearth of homes on the market. The decline in housing starts reported by the Commerce …

US housing starts hit three-year low; surge in permits point to underlying strength Read More »

By Patrick Wingrove (Reuters) – Eli Lilly on Tuesday said it was suing 10 U.S. medical spas, wellness centers and compounding pharmacies for selling products claiming to contain tirzepatide, the active ingredient in its diabetes drug Mounjaro which is expected to be approved for weight loss later this year. In four separate lawsuits filed in …

Eli Lilly sues over US sales of bogus Mounjaro for weight loss Read More »

By Nivedita Balu TORONTO (Reuters) – Oracle is ready to cater to Canadian banks for their open banking needs and provide tools as needed when the country make its available, a financial services executive with the cloud computing giant said. “We are open banking ready,” Sonny Singh, executive vice president of Oracle Financial Services said …

Oracle says it is open banking ready to cater to Canadian banks Read More »

(Updated at 4:23 p.m. ET with closing prices) By Stephen Culp NEW YORK (Reuters) -Wall Street lost ground on Tuesday, with risk-off sentiment weighing as the U.S. Federal Reserve convened for its much-anticipated two-day monetary policy meeting. All three indexes ended the session lower in a broad sell-off ahead of the Fed’s interest rate announcement …

U.S. stocks close lower as investors take cover ahead of Fed decision Read More »

PARIS (Reuters) – A stronger than expected U.S. economy is helping to keep a global slowdown in check this year but a weakening Chinese economy will prove to be a bigger drag next year, the OECD forecast on Tuesday. After expanding 3.3% last year, global gross domestic product growth is on course to slow to …

OECD raises 2023 global growth outlook, cuts 2024 Read More »

ZURICH (Reuters) – UBS’s chief executive said on Tuesday that the momentum is pretty positive at the Swiss bank, which manages $5.5 trillion in assets since merging with former rival Credit Suisse earlier this year. “This is a great platform that gives us economy of scale and allows us to move forward,” Sergio Ermotti said …

UBS CEO: “Momentum is pretty positive” Read More »

By Filipp Lebedev and Gleb Stolyarov (Reuters) – At least $14.3 million worth of coal produced in areas of Ukraine annexed by Russia has been exported to NATO member Turkey this year, according to Russian customs data reviewed by Reuters. Between February and July 2023, about 160,400 tonnes of coal from the annexed eastern Ukrainian …

Exclusive-Coal from Russian-annexed Ukraine sold in NATO member Turkey – data, sources Read More »

By Jahnavi Nidumolu and Ben Klayman DETROIT (Reuters) -The United Auto Workers union said it would announce on Friday more U.S. plants to strike if no serious progress was made in talks with the Detroit Three automakers, as a Canadian union held off on an immediate walkout at Ford’s operations in Canada. The UAW last …

UAW prepares for more US auto strikes; Ford Canada talks extended Read More »