WASHINGTON (Reuters) – The U.S. trade deficit contracted by the most in nearly 14 years in November as slowing domestic demand amid higher borrowing costs depressed imports. The trade deficit decreased 21.0% to $61.5 billion, the lowest level since September 2020, the Commerce Department said on Thursday. The percentage decline in the trade gap was …
U.S. trade deficit shrinks sharply as imports tumble Read More »
(Reuters) – Big Tech firms are leading a string of layoffs across corporate America as companies look to rein in costs to ride out the economic downturn. Persisting inflation leading to interest rate hikes, weak consumer demand and an economic slowdown in China have forced firms from Amazon to Walt Disney and banks to trim …
Factbox-Why are tech firms leading job cuts in Corporate America? Read More »
By Michael S. Derby NEW YORK (Reuters) – Kansas City Federal Reserve leader Esther George said on Thursday that she hopes the central bank will continue its efforts to shrink its balance sheet, while also warning that she believes the Fed will need to press forward with rate rises and keep them high for some …
Fed’s George: It will be key to hold rates up once hikes end Read More »
By Jessica DiNapoli and Mike Spector (Reuters) -Bed Bath & Beyond Inc on Thursday said it was exploring options including a bankruptcy filing to address the U.S. home goods retailer’s plunging sales, dwindling cash and debt load, sending its shares tumbling. The retailer in a regulatory filing said there was substantial doubt about its ability …
Bed Bath & Beyond exploring options including bankruptcy, shares crater Read More »
By Brendan Pierson (Reuters) -The U.S. Food and Drug Administration on Tuesday finalized a rule allowing mifepristone, one of two drugs used in medication abortions, to be dispensed by retail pharmacies. The rule will make medication abortion, which accounts for more than half of U.S. abortions, more accessible in states where abortion remains legal, but …
Explainer-What does the FDA’s new rule mean for the fight over abortion pills? Read More »
NEW YORK (Reuters) – Growth in the U.S. solar industry is expected to decelerate in 2023, while Asian and European markets are poised to surge, SolarEdge Chief Financial Officer Ronen Faier said on Thursday. High prices and regulatory uncertainties will constrain U.S. solar expansion, while some solar markets in Europe, including in Germany, could jump …
SolarEdge sees U.S. solar growth slowing in 2023, Asia, Europe markets to surge Read More »
By Paul Lienert (Reuters) – E-commerce giant Amazon hopes a new partnership with EVgo, powered by its Alexa voice assistant, will help smooth the electric vehicle charging experience for owners. Announced on Thursday at the 2023 Consumer Electronics Show in Las Vegas, the new service aims to streamline the process of locating, initiating and paying …
Alexa, help! Amazon partners with EVgo to ease EV charging pain Read More »
(Reuters) – The massive job cuts by Amazon.com Inc, one of the biggest private employers in the United States, show the wave of layoff sweeping through the tech sector could stretch into 2023 as companies rush to cut costs, analysts said on Thursday. As a demand boom during the pandemic rapidly turns into bust, tech …
Amazon layoff signals more pain for tech sector as recession fears mount Read More »
By Crispin Kyala BUKAVU, Democratic Republic of Congo (Reuters) – Near the banks of Lake Kivu in eastern Democratic Republic of Congo, artist Patrick Cikuru Cirimwami wades knee-deep through a mountain of plastic bottles, scooping as many as he can carry into a large sack. There is no public waste collection in the area, and …
Congolese artist paints politicians’ portraits in plastic Read More »
(Reuters) – Ford Motor Co on Thursday posted a smaller decline in annual U.S. sales compared to a year earlier, as an improvement in inventory levels allowed the U.S. automaker to ship more sports utility vehicles (SUV) and trucks to dealers. The Dearborn-Michigan based company sold 1,864,464 vehicles in 2022, down about 2.2%. In contrast, …
Ford reports smaller drop in 2022 U.S. sales as inventory levels improve Read More »
