Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
US ad revenue at Musk’s X declined each month since takeover -data
By Sheila Dang (Reuters) – Monthly U.S. ad revenue at social media platform X has declined at least 55% year-over-year each month since billionaire Elon Musk bought the company formerly known as…
Global bond rout deepens before receding on relief rally
By Herbert Lash and Tom Wilson NEW YORK/LONDON (Reuters) – A rout in government bond markets deepened early on Wednesday with benchmark U.S. yields hitting fresh 16-year highs as investors bet that…
US dollar retreats after mixed batch of data; yen modestly firmer
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Wednesday, tracking the pullback in U.S. Treasury yields, amid a mixed set of data suggesting that there are pockets of weakness…
US accuses Google of illegal methods to push up ad prices
By Diane Bartz WASHINGTON (Reuters) -A lawyer for the U.S. Justice Department pressed a Google executive on Wednesday about techniques the search and advertising giant used to push up online advertising prices…
World Bank raises Latam growth estimate, citing inflation fight
By Rodrigo Campos NEW YORK (Reuters) -The World Bank on Wednesday raised its growth estimate for the economies of Latin America and the Caribbean (LAC) to 2.0% from 1.4% in 2023 even…
Casino shares suspended, news on debt deal expected soon
By Dominique Vidalon PARIS (Reuters) – Shares in French retailer Casino were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel…
New England states join to buy offshore wind power as US industry struggles
(Reuters) – Three U.S. states in New England – Massachusetts, Rhode Island and Connecticut – on Wednesday agreed to jointly procure offshore wind power as soaring interest rates and rising equipment and…
Disney to offer discounts on children’s tickets at theme parks
(Reuters) – Walt Disney said on Wednesday it will offer discounts on ticket prices for children at its theme parks for a limited period as it looks to boost traffic. Business at…
It’s National Taco Day and Here Are The Best Taco Joints in Ocean County
TOMS RIVER, NJ – Today is National Taco day, celebrated annually on October 4th. It’s a day when taco enthusiasts have the perfect opportunity to indulge in their favorite tortilla-wrapped delights. While…
Oil settles down more than $5 as US data shows weak demand for gasoline
By Laura Sanicola (Reuters) -Oil prices settled down more than $5 on Wednesday as fuel demand destruction and a bleaker macroeconomic picture took centre stage in the day’s trade. Brent crude oil…
Apple releases software update to resolve iPhone 15 overheating issue
(Reuters) -Apple released an update to its iOS 17 software on Wednesday to resolve an overheating issue related to its latest iPhones. The iPhone 15 series, encased in a titanium shell, was…
Apple CEO Tim Cook makes $41 million from biggest stock sale in two years
(Reuters) – Apple Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed. Cook sold 511,000 shares, which were…
UK business downturn eases after inflation data, BoE pause – PMI
LONDON (Reuters) – British services companies suffered a less severe downturn in September than first feared, reflecting a surprise fall in inflation and the Bank of England’s decision to leave interest rates…
US factory orders beat expectations in August
WASHINGTON (Reuters) – New orders for U.S.-made goods increased more than expected in August and shipments accelerated, supporting views that economic growth strengthened in the third quarter. Factory orders rebounded 1.2% after…
Euro zone economy likely contracted in Q3 amid waning demand
By Jonathan Cable LONDON (Reuters) – The euro zone economy probably shrank last quarter, according to a survey which showed demand fell in September at the fastest pace in almost three years…
Google launches Pixel 8, smartwatch with new AI feature
By Yuvraj Malik and Max A. Cherney (Reuters) – Alphabet’s Google on Wednesday launched Pixel 8 smartphones and a new smartwatch that integrate its artificial intelligence (AI) technology more deeply into the…
World’s biggest bond markets hit by wave of selling, then bounce
NEW YORK (Reuters) – A sell-off in Treasuries continued overnight before paring losses, with long-term yields pushed to highs unseen since the global financial crisis. A growing sense that interest rates in…
US corporate bond spreads widen as hopes dim for soft landing
By Matt Tracy (Reuters) – U.S. corporate bond spreads widened on Tuesday and are expected to widen further after the latest jobs data helped confirm many investors’ expectations of higher-for-longer U.S. interest…
US services sector growth slows moderately
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. services sector slowed in September as new orders fell to a nine-month low, but the pace remained consistent with expectations for solid economic growth…
Euro zone bond rout pauses with yields at multi-year highs
By Joice Alves and Alun John LONDON (Reuters) – Euro zone borrowing costs hit multi-year highs on Wednesday before steadying, part of a pause in the global selloff, with local bonds also…
FAA must address US air traffic staffing crunch, nominee says
By David Shepardson WASHINGTON (Reuters) -The Biden administration’s nominee to head the Federal Aviation Administration (FAA) said on Wednesday the agency must address a persistent air traffic controller shortage that has caused…
Fed has yet to face final reckoning two years after trading scandal
By Michael S. Derby (Reuters) – Two years after the presidents of the Dallas and Boston Federal Reserve banks left their jobs amid revelations they had traded on financial markets while helping…
Timeline of the Fed’s ethics controversy at the two-year mark
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Chair Jerome Powell two years ago asked the U.S. central bank’s internal watchdog to investigate the trading activities of some of its…
Mortgage rates reach highest since November 2000 – MBA
By Amina Niasse NEW YORK (Reuters) – U.S. mortgage interest rates rose to the highest since November 2000 last week, helping to drive home loan application volumes to the lowest in 27…
Meta starts rolling out generative AI tools for all advertisers
(Reuters) – Social media giant Meta Platforms said on Wednesday that it has started rolling out generative artificial intelligence (AI) tools that can create content like image backgrounds and variations of written…
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