US labor market defies recession fears as job growth surges in July

Nonfarm payrolls increased 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rose 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring … Read more

Jury finds Alex Jones must pay $4.1 million for Sandy Hook hoax claims

Aug 4 (Reuters) – US conspiracy theorist Alex Jones should pay parents of a child killed in the 2012 Sandy Hook massacre at least $4.1 million for falsely claiming the shooting was a hoax, a Texas jury said on Thursday. The verdict followed a two-week trial in Austin, Texas, where Jones’ radio show and webcast … Read more

US charges four Kentucky police officers in Breonna Taylor killing

WASHINGTON, Aug 4 (Reuters) – US prosecutors on Thursday charged four current and former Louisville, Kentucky, police officers for their roles in the botched 2020 raid that killed Breonna Taylor, a Black woman who was in her home, in a case that sparked nationwide protests. The charges represented the Justice Department’s latest effort to crack … Read more

US weekly jobless claims increase, but labor market remains tight

Weekly jobless claims increase 6,000 to 260,000 Continuing claims rose 48,000 to 1,416 million Trade deficit shrinks 6.2% to $79.6 billion in June WASHINGTON, Aug 4 (Reuters) – The number of Americans filing new claims for unemployment benefits increased last week, suggesting some softening in the labor market, although overall conditions remain tight. That was … Read more

Stocks steady as markets bet on hefty Bank of England hike

Market bets on 50bp hike by Bank of England Fed official: 50bp hike in Sept “reasonable” Oil rebounds from six-month low Lufthansa returns to operating profit Credit Agricole sees profits jump LONDON, Aug 4 (Reuters) – Strong earnings at Credit Agricole and Lufthansa lifted stocks on Thursday as tension over Nancy Pelosi’s visit to Taiwan … Read more

Wall Street rallies on economic data, crude falls as stockpiles jump

NEW YORK, Aug 3 (Reuters) – US stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that US stockpiles of crude and gasoline unexpectedly surged last week. … Read more

Twitter queries banks on Musk’s attempts to undermine $44 bln deal

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/Illustration Register now for FREE unlimited access to Reuters.com Register WILMINGTON, Del., Aug 2 (Reuters) – Twitter Inc (TWTR.N) is attempting to find evidence that Elon Musk tried to torpedo the financing … Read more

Inflation begins to strain the finances of young, low-income Americans

A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, US, June 11, 2020. REUTERS/Mario Anzuoni Register now for FREE unlimited access to Reuters.com Register NEW YORK, Aug 1 (Reuters) – As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting … Read more

‘Living with COVID’: Where the pandemic could go next

LONDON/CHICAGO, Aug 1 (Reuters) – As the third winter of the coronavirus pandemic looms in the northern hemisphere, scientists are warning weary governments and populations alike to brace for more waves of COVID-19. In the United States alone, there could be up to a million infections a day this winter, Chris Murray, head of the … Read more

Shenzhen accelerates China’s driverless car dreams

SHENZHEN, China, Aug 1 (Reuters) – On a busy downtown street three delivery bikes suddenly dart over the pedestrian crossing ahead of the car. On the car’s dashboard they look like small 3D blue blocks from a 1990s video game. The steering wheel turns itself a notch and the vehicle slows to a gentle halt, … Read more