By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s consumer inflation held steady in May while producer price declines eased, but the underlying trend suggests Beijing would need to do more to prop up feeble domestic demand and an uneven economic recovery. Weak consumption in China has kept a lid on consumer prices since 2023…
By Stephen Culp NEW YORK (Reuters) -U.S. stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious U.S. Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings. Benchmark U.S. Treasury yields and the dollar eased back from multi-month highs, while gold backed down from its all-time high. All three major…
By Jonathan Stempel (Reuters) – PacifiCorp, a utility owned by Warren Buffett’s Berkshire Hathaway, agreed to a $150 million settlement with 378 plaintiffs arising from one of the 2020 wildfires that devastated parts of Oregon and northern California. The settlement announced on Monday resolves substantially all individual claims in northern California related to the Slater…
By Sruthi Shankar and Medha Singh (Reuters) – GameStop and AMC Entertainment have again captured retail investors’ attention, reminiscent of “the meme stock frenzy” that gripped Wall Street three years ago, following social media posts from the leading figure behind that rally “Roaring Kitty”. Here is what you need to know about the recent surge…
(Reuters) – Verizon said on Tuesday that it added Comcast’s Peacock to its streaming subscription hub and plans to offer YouTube Premium at a discounted rate with myPlan subscriptions. The telecom firm said it will offer YouTube Premium for $10 per month, offering savings of 30% to myPlan customers, starting Thursday. Peacock streaming service, under…
By David Shepardson WASHINGTON (Reuters) -The chair and top Democrat on the House select committee on China will announce Tuesday they are launching a bipartisan working group to reduce China’s dominance of critical mineral supply chains. Representative John Moolenaar, the committee chair, and Raja Krishnamoorthi, the top Democrat, said the new working group will help…
(Reuters) – Dell Technologies shares tumbled about 14% in premarket trading on Friday, as the PC and server maker expects sizeable AI investments to dent its quarterly profit. Dell is on track to lose more than $17 billion in market value, if premarket losses hold. The stock has more than doubled this year. Companies, including…
By Amanda Cooper LONDON (Reuters) -Global stocks hit record highs on Wednesday, driven by a rally in tech shares that has made AI chipmaker Nvidia the world’s most valuable company, while the dollar stalled as soft U.S. retail sales data suggested rates could fall this year. MSCI’s All-World index was up 0.15% at 805.12, having…
By Pranav Kashyap (Reuters) – Andrew Left, the founder of Citron Research, is again betting against retail investors’ favorite GameStop, which is back in the limelight after super-bull “Roaring Kitty” Keith Gill resurfaced online following a three-year hiatus. Citron was forced to close its short position in GameStop at a loss in 2021, after retail…
By Daniel Wiessner (Reuters) -A federal judge in Texas on Wednesday partially blocked a U.S. Federal Trade Commission rule from taking effect that would ban agreements commonly signed by workers not to join their employers’ rivals or launch competing businesses. U.S. District Judge Ada Brown in Dallas said in a written decision the FTC, which…
