For the second consecutive day, U.S. Covid daily cases crossed the dreaded 100,000 mark. This is the fifth time this month alone the infection rate has soared above that level. With 102,513 new cases reported on Thursday, the total number of people that have been infected with the killer bug in the country has risen to 82,325,714, as per Johns […]

WASHINGTON (Reuters) – U.S. import prices were unexpectedly flat in April as a decline in the cost of petroleum offset gains in food and other products, a further sign that inflation has probably peaked, though it will remain elevated.Slideshow ( 2 images )The unchanged reading in import prices followed a 2.9% surge in March, the Labor Department said on Friday. […]

Employment in the U.S. increased by more than expected in the month of April, according to a closely watched report released by the Labor Department on Friday. The report showed non-farm payroll employment surged by 428,000 jobs in April, matching the revised jump seen in March. Economists had expected employment to climb by 391,000 jobs compared to the addition of […]

Owning a home is part of the American Dream. But housing prices have put this dream out of the reach for many people. The rise in prices has to do with low mortgage rates (which recently disappeared), the mobility that has been triggered by the work-from-home economy and low unemployment and rising wages. Nationwide, the homeownership rate stands at 64.4%, […]

(Reuters) -Elon Musk on Friday put his $44-billion deal for Twitter Inc temporarily on hold, citing pending details in support of calculation that spam and fake accounts indeed represent less than 5% of users.FILE PHOTO: Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationShares of […]

Asian stocks fell sharply on Friday as investors assessed the policy impacts of the Fed’s tightening moves on consumer demand and the broader economy. On Thursday, the Bank of England warned the U.K. economy will slide into recession this year as a result of higher energy prices. As inflation worries mount, investors awaited the monthly U.S. jobs data as well […]

It’s obvious why Lotus hired Matt Windle to spear its electric car push. The Englishman worked for Tesla for seven years from 2005 – or just a year after Elon Musk bought the early-stage electric vehicle maker. He worked on Tesla’s first car, the Roadster (the model that Musk would later launch toward the sun on a SpaceX rocket). So […]

SHANGHAI (Reuters) – Asian shares found some footing after a volatile session for U.S. equities, but the dollar remained at 20-year highs and global stocks near 18-month lows on worries about persistently high inflation and tightening central banks.FILE PHOTO: A man holding an umbrella looks at an electronic stock quotation board outside a brokerage in Tokyo April 7, 2015. REUTERS/Issei […]