U.S. jobless claims rise to highest level since February
WASHINGTON (Reuters) – New applications for U.S. unemployment insurance benefits rose last week to their highest level since February, suggesting some slowdown in the labor market recovery.
China stems stocks rout, but market faces lengthy hangover
BEIJING/SHANGHAI (Reuters) – Beijing’s increasingly frantic attempts to stem a stock market rout were finally rewarded as Chinese shares bounced around 6 percent on Thursday, but the costs of heavy-handed state intervention are likely to weigh on the m…
Honda expands recall to replace Takata-made air bags
TOKYO (Reuters) – Honda Motor Co said on Thursday it is recalling about 4.5 million more cars globally to replace air bag inflators made by supplier Takata Corp, the latest move in the Japanese automaker’s efforts to deal with a safety scare that has s…
Fed’s Kocherlakota: Drop in neutral rate makes Fed’s job harder
FRANKFURT (Reuters) – A significant drop in the long-run interest-rate level that marks a sweet spot for a healthy U.S. economy is making it harder for the Federal Reserve to do its job, a top policymaker said on Thursday.
China bounce ends five-day losing streak for stocks
LONDON (Reuters) – World stocks snapped a five-day losing streak on Thursday, as Beijing halted a rout in Chinese stocks and the Federal Reserve signaled it might be too soon to raise U.S. interest rates.
NYSE shut down for nearly four hours by technical glitch
NEW YORK (Reuters) – The New York Stock Exchange was forced to suspend trading for several hours on Wednesday in the biggest outage to hit a U.S. financial market in nearly two years, unnerving investors already rattled by the meltdown in Chinese stock…
U.S. bank earnings to be hit by bond trading slump: analysts
NEW YORK (Reuters) – Many Wall Street banks are expected to report underwhelming second-quarter results next week, after light bond market activity in the spring worsened into a downturn by June, analysts said.
With options dwindling, BP seized a chance to settle oil spill case
NEW YORK/LONDON/HOUSTON (Reuters) – In early May, with its legal options dwindling and investors impatient, BP Plc saw a chance to negotiate what became a $18.7 billion settlement that ended five years of litigation over the worst offshore oil spill in…
Hyundai recalls 140,000 vehicles in North America over seat belt concerns
SEOUL (Reuters) – South Korea’s Hyundai Motor Co is recalling about 140,000 Sonata mid-sized sedans in the United States and Canada due to potential defects in the front passenger seat belt buckle, the company said on Thursday.
Alcoa earnings hurt by low aluminum prices, higher global surplus seen
BENTONVILLE, Ark. (Reuters) – Metals company Alcoa Inc reported a quarterly profit that missed expectations due to plunging primary aluminum prices on Wednesday, but revenues topped estimates on an ongoing drive to reduce reliance on the company’s lega…
