By Carolyn Cohn and Noor Zainab Hussain LONDON (Reuters) -Hurricane Milton could result in losses of up $100 billion for the global insurance industry, creating a surge in 2025 reinsurance prices that could boost some insurance companies’ shares, analysts said on Wednesday. The Category 5 hurricane is expected to make landfall on the Gulf Coast…
By Jody Godoy and David Shepardson NEW YORK/WASHINGTON (Reuters) – TikTok faces new lawsuits filed by 13 U.S. states and the District of Columbia on Tuesday, accusing the popular social media platform of harming and failing to protect young people. The lawsuits filed separately in New York, California, the District of Columbia and 11 other…
By Iain Withers and Chibuike Oguh NEW YORK/LONDON (Reuters) – Global stocks fell on Thursday, weighed down by tepid trading in equity markets across the U.S. and other major regions, even as oil prices extended gains amid rising geopolitical tension from the Middle East conflict. Wall Street’s main indexes pared early gains and were trading…
By Doyinsola Oladipo NEW YORK (Reuters) -President Joe Biden’s administration heaped pressure on U.S. port employers to raise their offer to secure a labor deal with dockworkers, whose strike entered a second day on Wednesday, choking half the country’s ocean shipping. The strike by the International Longshoremen’s Association union has blocked goods from food to…
WASHINGTON (Reuters) – The U.S. Commerce Department said Wednesday it plans to award $100 million to boost the use of artificial intelligence in developing new sustainable semiconductor materials. The department, which is overseeing $52.7 billion in U.S. chips manufacturing and research grants, plans to award $100 million to help universities, national laboratories and the private…
NEW YORK (Reuters) -U.S. oil demand rose in July to the highest seasonal level since 2019 while output declined for the second time in three months, data from the U.S. Energy Information Administration showed on Monday. U.S. oil demand has been more resilient this year compared to other major consumers such as China, which have…
By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration said on Monday that General Motors’ self-driving car unit Cruise will pay a $1.5 million fine after it failed to disclose details of a serious October 2023 crash involving a pedestrian. Under the settlement, Cruise must submit to NHTSA a corrective action plan on…
By Caroline Valetkevitch and Sruthi Shankar NEW YORK/LONDON (Reuters) – Global stock indexes hit all-time highs on Friday after China’s central bank lowered interest rates and injected liquidity into its banking system and U.S. inflation continued to ease, while Treasury yields dipped. The yen firmed against the dollar after Japan’s former defense minister Shigeru Ishiba…
By Katya Golubkova TOKYO (Reuters) – Oil prices were little changed on Thursday after falling in the previous session as signs of higher fuel demand and falling stockpiles in the U.S., the world’s biggest oil user, offset concerns over demand elsewhere, particularly in China. Brent crude futures were up 9 cents, or 0.12%, to $73.55…
By Jasper Ward and Kanishka Singh WASHINGTON (Reuters) -Former U.S. President Donald Trump, who is the Republican presidential candidate, said on Friday he will seek the prosecution of Google if he wins the Nov. 5 election, claiming that the company only displays “bad stories” about him. Trump, in his post on Truth Social, gave no…
