U.S. labor market defies recession fears as job growth surges in July

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

Toyota unit falsified emissions data from at least 2003, probe finds

Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Centre at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File Photo Register now for FREE unlimited access to Reuters.com Register Committee publishes report on false data scandal at Hino Says engineers didn’t feel able … Read more

U.S. considers crackdown on memory chip makers in China

WASHINGTON, Aug 1 (Reuters) – The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protect U.S. companies. If President Joe Biden’s … 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

Moderate rebound in U.S. economic growth seen in second quarter as inflation bites

Shipping containers are unloaded from a ship at a container terminal at the Port of Long Beach-Port of Los Angeles complex, in Los Angeles, California, U.S., April 7, 2021. REUTERS/Lucy Nicholson/File Photo Register now for FREE unlimited access to Reuters.com Register Second-quarter GDP estimated to increase at a 0.5% rate Trade seen accounting for rebound … Read more

Fed to unveil another big rate hike as signs of economic slowdown grow

U.S. Federal Reserve Chair Jerome Powell takes questions during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022. REUTERS/Elizabeth Frantz/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, July 27 (Reuters) – With the Federal Reserve expected to hike its key … Read more

Nasdaq falls with dollar, oil rises; earnings, Fed in focus

U.S. stocks chop around with Nasdaq closing lower Euro zone survey shows German morale dropping Fed in focus with two-day policy meeting on Tuesday NEW YORK, July 25 (Reuters) – Nasdaq (.IXIC) closed lower on Monday after a choppy session for U.S. equities ahead of a big week of technology earnings reports while oil prices … Read more

Wall Street closes lower as ad tech, social media stocks drop

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 21, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register Snap Inc shares plunge on slowing growth Communication services stocks lead sectoral declines AmEx raises revenue forecast on resilient card spending Indexes down: Dow … Read more

China fines Didi Global $1.2 bln, fuelling hopes of thaw in regulatory crackdown

HONG KONG/BEIJING, July 21 (Reuters) – China’s cybersecurity regulator on Thursday fined Didi Global Inc $1.2 billion, concluding a probe that forced the ride-hailing leader to delist from New York within a year of its debut and made foreign investors wary about China’s tech sector. Didi ran afoul of the Cyberspace Administration of China (CAC) … Read more

U.S. existing home sales slide again; prices hit fresh record high

NEW YORK, July 20 (Reuters) – U.S. existing home sales fell for a fifth straight month in June to the lowest level in two years, as fast-rising interest rates and record-high selling prices make buying a home too expensive for a growing share of American households. Mortgage interest rates have soared as a result of … Read more