• US weekly jobless claims fall; housing find bottom

    Weekly jobless claims fall by 20,000 to 192,000 Continuing claims decrease by 29,000 to 1.684 million Single-family homes start to rise 1.1% in February Import prices fall by 0.1%; down 1.1% year-on-year WASHINGTON, March 16 (Reuters) – The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to […]

  • Tyson Foods is closing two U.S. chicken plants employing nearly 1,700 workers

    CHICAGO, March 14 (Reuters) – Tyson Foods Inc (TSN.N) will close two U.S. chicken plants employing nearly 1,700 workers on May 12, the company said on Tuesday. The closures show that the largest U.S. meat company by revenue is still trying to figure out how to improve its chicken business, which has struggled for years. […]

  • Meta to cut 10,000 jobs in second round of layoffs

    March 14 (Reuters) – Facebook parent company Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares rose 6% on the news. The widely anticipated job cuts are part of […]

  • US organizes ‘material action’ to stop SVB outages

    NEW YORK, March 12 (Reuters) – US authorities on Sunday were preparing “material action” to bolster deposits at Silicon Valley Bank (SVB) and try to mitigate any wider financial fallout from the sudden collapse of the technology-based startup-focused lender counter. sources familiar with the matter told Reuters. Officials in the Biden administration worked all weekend […]

  • Silicon Valley Bank employees offered 45 days of work at 1.5 times wages, FDIC email shows

    NEW YORK, March 11 (Reuters) – Silicon Valley Bank employees were offered 45 days of work at one and a half times their salary by the Federal Deposit Insurance Corp, the US regulator that took control of the collapsed lender on Friday, according to an email to employees seen by Reuters. Workers will be enrolled […]

  • Wall St falls on bank stocks tumble, jobs report jitters

    Investors are looking forward to Friday’s jobs report Bank shares plummet after SVB announces share sale General Electric rises after repeated forecast Indexes down: Dow 1.85%, S&P 1.66%, Nasdaq 2.05% March 9 (Reuters) – Wall Street’s three major stock indices closed lower on Thursday, with banking stocks the biggest drag, while investors also worried Friday’s […]

  • US Weekly Jobless Claims Report Biggest Rise in 5 Months; labor market still tight

    Weekly jobless claims increase by 21,000 to 211,000 The average number of claims over four weeks rises from 4,000 to 197,000 Continuing claims jump 69,000 to 1,718 million WASHINGTON, March 9 (Reuters) – The number of Americans filing new claims for unemployment benefits rose the most in five months last week, but the underlying trend […]

  • The number of job openings in the US is still high as the labor market remains tight

    The number of vacancies fell by 410,000 to 10.8 million in January Fewer employees voluntarily quit their jobs The number of layoffs has increased and was higher than initially thought in 2022 WASHINGTON, March 8 (Reuters) – US job vacancies fell less than expected in January and data for the previous month was revised upwards, […]

  • Fed’s Powell sets the tone for higher and possibly faster rate hikes

    WASHINGTON, March 7 (Reuters) – The Federal Reserve is likely to have to raise interest rates more than expected in response to recent strong data and is ready to take bigger steps if the “total” of incoming information suggests tougher action is needed to address the inflation, Fed Chairman Jerome Powell told U.S. lawmakers on […]

  • Oil Sets on Hope in Chinese Demand, Post Weekly Gains

    Oil benchmarks settle at highest level in 3 weeks Report UAE may leave OPEC ‘far from the truth’, sources say Chinese data, record US exports support oil prices Dollar falls; analysts see more weakness in the next 12 months BENGALURU, March 3 (Reuters) – Oil prices recovered from a brief sell-off to rise more than […]