U.S. consumer spending accelerating; labor market robust
WASHINGTON (Reuters) – U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second qu…
Elon Musk’s Boring Co to build high-speed commuter system in Chicago
CHICAGO (Reuters) – Chicago has selected billionaire entrepreneur Elon Musk’s Boring Co to build a high-speed underground commuter system from the downtown Loop district to O’Hare International Airport, one of the world’s busiest, the company and the m…
Wall Street rises after ECB statement, retail sales data
(Reuters) – U.S. stocks rose on Thursday after the European Central Bank promised not to raise euro zone interest rates before the middle of next year and on better-than-expected May retail sales data.
Malaysia to seek return of 1MDB money from banks, political parties
KUALA LUMPUR (Reuters) – Malaysia intends to recover all funds illicitly taken from 1Malaysia Development Berhad (1MDB), and determine whether there are grounds for claims against companies, including Goldman Sachs , that profited from dealing with the…
U.S. retail sales surge in May; weekly jobless claims fall
WASHINGTON (Reuters) – U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second qu…
Robots Luise, Renate join Airbus A320 production line in Hamburg
HAMBURG (Reuters) – European planemaker Airbus inaugurated a new production line for its best-selling A320 jet with robots Luise and Renate joining human workers as it turns to new automation to help it deal with an eight-year order backlog.
Euro tumbles as ECB vows to keep rate down
LONDON (Reuters) – The euro fell a full cent against the dollar and government borrowing costs dropped on Thursday, after the European Central Bank vowed not to raise euro zone interest rates before the middle of next year.
Allergan appoints former Abbott executive to its board
(Reuters) – Allergan Plc said on Thursday former Abbott Laboratories executive Thomas Freyman will join its board, a week after two of its shareholders criticized the drugmaker’s acquisition strategy and board composition.
Unilever signals likely FTSE exit as Brazil strike hits sales
LONDON (Reuters) – Unilever is “extremely unlikely” to stay in Britain’s FTSE 100 blue chip share index after the consumer products company moves its headquarters to the Netherlands.
Rolls-Royce cuts 4,600 jobs at ‘pivotal moment’ for business
LONDON (Reuters) – Rolls-Royce is to cut 4,600 jobs over two years in the latest attempt by boss Warren East to reduce costs and complexity and make Britain’s best known engineering company more profitable and dynamic.
