U.S. single-family homebuilding fell to an eight-month low in May, pressured by higher mortgage rates and building material prices, suggesting the housing market could remain a drag on economic growth in the second quarter.
Category: News
A U.S. appeals court ruled against Bacardi [RIC:RIC:BCARDB.UL] on Tuesday in the company’s long-running dispute with the Cuban government over the trademark rights to “Havana Club” rum in the United States.
Yum Brands said on Tuesday it would sell its Pizza Hut chain for $2.7 billion, as the fast-food business struggles with stiff competition and cautious consumer spending.
A federal judge has signaled that she will likely order Workday, the maker of popular AI-powered human resources software, to face claims that it violated California law thousands of times by weeding out job applicants at many major companies for discriminatory reasons.
The anticipated adjustments to the Federal Reserve’s so-called dot plot would mark a hawkish shift from where officials were just three months ago.
U.S. gasoline prices have fallen more than 20% since their Iran-war peak in April, with the latest declines encouraged by the announcement of a deal to end hostilities, and they could slide further if a pattern forming on the charts comes to fruition.
Oil prices fell about 4% on Tuesday to fresh three-month lows as markets weighed prospects for a resumption of supplies through the Strait of Hormuz alongside weaker physical demand and scant details on a preliminary deal to end the Iran war.
The blue-chip Dow touched a fresh record high on Tuesday as oil prices slid further on optimism around a U.S.-Iran peace deal, while SpaceX surpassed Amazon’s market value to become the fifth most valuable U.S. firm.
Exclusive: Binance set to lose EU licence bid, permission to offer services in the bloc, sources say
Binance, the world’s largest crypto exchange, is set to lose permission to offer services to European Union clients within weeks as its application for a licence is about to be turned down, two people familiar with the matter told Reuters.
Shares of Elon Musk’s SpaceX extended a post-IPO rally and rose more than 8% in premarket trading on Tuesday, putting the company on course to overtake Amazon.com in market value to become the world’s fifth‑largest company.