WASHINGTON (Reuters) – The U.S. Federal Reserve announced Thursday it was ordering Silvergate Bank to implement its previously announced plan to liquidate itself in a way that protects depositor[...]
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June 1, 2023
U.S. consumer outlook dims as upscale retailers, discounters slash forecasts
By Aishwarya Venugopal (Reuters) – Weak profit forecasts from department store chain Macy’s to discounter Dollar General on Thursday underscored the fragile health of the U.S. consumer as[...]
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US construction spending surges in April
WASHINGTON (Reuters) – U.S. construction spending surged in April, boosted by investment in nonresidential structures, but higher mortgage rates continued to depress single-family homebuilding.[...]
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Stellantis announces 160 million euro investment to launch electric SUV in 2025
(Reuters) – Stellantis will invest 160 million euros ($176.13 million) at its Rennes plant to launch a 100% electric compact SUV in 2025, the Franco-Italian-American car manufacturer announced o[...]
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U.S. manufacturing slumps further in May; employment picks up -ISM
WASHINGTON (Reuters) – U.S. manufacturing contracted for a seventh straight month in May as new orders continued to plummet amid higher interest rates, but factories boosted employment to a nine[...]
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U.S. first-quarter productivity revised up; labor costs growth lowered
(Refiles to remove extraneous words in paragraph 7) WASHINGTON (Reuters) – U.S. worker productivity slumped in the first quarter, though not as steep as initially thought, according to governmen[...]
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Analysis-US debt-ceiling deal dooms Biden’s revolutionary tax plans
By David Lawder WASHINGTON (Reuters) – U.S. President Joe Biden’s 2020 campaign promise to make wealthy Americans and corporations pay more in taxes to finance a range of social priorities[...]
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EV maker Lucid to raise $3 billion, mainly from Saudi’s PIF
By Akriti Sharma and Abhirup Roy (Reuters) – Lucid Group said it plans to raise about $3 billion through a stock offering, nearly two-thirds of which will come from Saudi Arabia’s Public I[...]
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IKEA stores owner Ingka buys warehouse software firm Made4Net
LONDON (Reuters) – The largest owner of IKEA stores has acquired supply chain software firm Made4Net as the Swedish furniture retailer plans a major expansion in the United States and aims to gr[...]
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