Reuters US Business

By Safiyah Riddle (Reuters) – U.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most home loans despite the big jump in mortgage rates over the last two years, a report on Thursday said. Delinquency rates fell to 3.37% …

US mortgage delinquency rates fall to all-time low Read More »

By Jody Godoy (Reuters) -Goldman Sachs shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday. The New York-based 2nd U.S. Circuit Court of Appeals ruled in three pension funds’ long-running case accusing the bank …

US court rules no class action on Goldman Sachs crisis-era claims Read More »

By David French (Reuters) – Wall Street’s main indexes finished flat on Thursday, giving up most early gains on milder-than-feared inflation data as investors worried about the U.S. economy’s longer-term prospects and whether stocks had further room to run. Data showed headline and core consumer prices both climbed by 0.2% in July, with the headline …

Wall Street ends flat, after pop from July inflation data fizzles Read More »

ISTANBUL (Reuters) – Turkey aims to lower soaring inflation permanently after a transitional period where prices remain high, Finance Minister Mehmet Simsek said on Thursday in an interview with the Yeni Safak newspaper. “Our goal is to bring down inflation permanently after a transitional period,” Simsek said. The sustained price pressure, driven by a drop …

Turkey’s inflation will fall permanently after transition period – Simsek Read More »

BRUSSELS (Reuters) – The European Commission will analyse the U.S. ban on new U.S. investment in China in sensitive technologies such as computer chips and is in close contact with the U.S. administration, the EU executive said on Thursday. U.S. President Joe Biden on Wednesday signed an executive order to prohibit or restrict U.S. investments …

EU Commission to analyse US order on tech curbs in China Read More »

By Rajendra Jadhav MUMBAI (Reuters) -Demand for palm oil has been increasing as its discount to soyoil and sunoil has grown, driven by the recent price rise in rival oils due to production concerns in the U.S. and supply disruptions from the Black Sea region, industry officials said. This surge in demand is expected to …

Palm oil demand boosted as rival oil prices jump on supply woes Read More »

By Dawn Chmielewski and Krystal Hu (Reuters) – Walt Disney has created a task force to study artificial intelligence and how it can be applied across the entertainment conglomerate, even as Hollywood writers and actors battle to limit the industry’s exploitation of the technology. Launched earlier this year, before the Hollywood writers’ strike, the group …

Disney creates task force to explore AI and cut costs -sources Read More »

ZURICH (Reuters) – Siemens is seeing changing investment patterns by some customers regarding China as tensions rise between Washington and Beijing, Chief Executive Roland Busch said on Thursday. Siemens, which reported third quarter earnings below forecasts, said clients were increasingly looking to build new facilities outside China, Busch said, echoing comments from rival engineering group …

Siemens CEO says customers looking outside China for new investments Read More »

By Abhijith Ganapavaram and Shivansh Tiwary (Reuters) -WeWork shares approached zero on Wednesday after the one-time startup darling warned it could go bankrupt in a stunning reversal of fortune for a company that was once privately valued at $47 billion. The SoftBank-backed company has been in turmoil ever since its plans to go public in …

Once worth $47 billion, WeWork shares near zero after bankruptcy warning Read More »