Reuters US Business

By Hannah Lang and Chibuike Oguh (Reuters) -Bitcoin, the world’s largest cryptocurrency, hit a more than one-year high on Friday, capping a week of gains helped in part by BlackRock’s plans to create a bitcoin exchange-traded fund (ETF) despite heightened U.S. regulatory scrutiny on the digital asset sector. BlackRock, the world’s biggest asset manager, filed …

Bitcoin hits more than 1-year high amid BlackRock ETF excitement Read More »

By Deborah Mary Sophia (Reuters) -More than 3,000 workers at over 150 Starbucks stores in the United States will walk off the job over the next week, the union representing the coffee chain’s baristas said on Friday, following claims the company had banned Pride Month decorations at some of its cafes. The strikes are also …

Starbucks workers at over 150 stores to go on strike over Pride decor dispute Read More »

PARIS (Reuters) – Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. In its twice-yearly report, Bain increased its annual sales forecasts for the global personal luxury goods market …

U.S. luxury sales increasingly coming from high-end shoppers – Bain Read More »

(Reuters) – Shares of Canada’s Canopy Growth fell 6.5% on Friday after the pot producer posted a wider quarterly loss over the previous year and raised doubts about the company’s ability to continue as a going concern. The Canadian cannabis industry remains challenged by systemic regulatory issues, continued battle with the illicit marijuana market and …

Pot producer Canopy raises going concern doubts, shares tumble Read More »

By Pratima Desai and Clara Denina LONDON (Reuters) -Newmont has declared force majeure on deliveries of some metal products from its Peñasquito mine in Mexico, the U.S.-listed miner told Reuters, citing strike action as a constraint on output. Peñasquito is a major producer of zinc and lead, as well as gold. In a February outlook, …

Exclusive-Newmont declares force majeure on metal products from Mexico’s Peñasquito Read More »

By Daina Beth Solomon MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Thursday said he will ask incoming Labor Minister Marath Bolanos to meet with mining company Grupo Mexico and a top union leader to attempt to resolve labor disputes stretching back more than a decade. Grupo Mexico, a conglomerate controlled by …

Mexican president pushes new Labor Minister to resolve Grupo Mexico conflict Read More »

(This June 16 story has been corrected to fix the date of contract expiration in paragraph 1) By Lisa Baertlein LOS ANGELES (Reuters) – United Parcel Service (UPS) union employees have voted overwhelmingly to authorize a strike should contract talks break down after the current agreement ends at midnight on July 31, the International Brotherhood …

UPS workers authorize strike, seen as leverage for pay talks Read More »

(Reuters) – The states of California, Minnesota and Wisconsin on Thursday joined a Federal Trade Commission lawsuit to stop Amgen’s $27.8 billion deal to buy Horizon Therapeutics, according to a court filing. The FTC said last month it filing suit opposing the deal because it would give Amgen “monopoly positions” for medicines used to treat …

California, other states join FTC bid to block Amgen deal Read More »

By Dan Burns (Reuters) – The number of people filing for state unemployment benefits for the first time held steady at a 20-month high last week, remaining elevated for a third straight week in what may be an early indication of a softening labor market in the face of the Federal Reserve’s aggressive credit tightening. …

US jobless claims hold at 20-month high, existing home sales tick up in May Read More »