Category: Business

By Yoruk Bahceli (Reuters) – Borrowers looking for relief from higher interest rates may be set for disappointment with financial markets indicating rates will stay elevated for years to come. However much they fall in 2024, pricing in money markets highlights a view that the decade of near-zero interest rates prevailing after the great financial…

By Jonathan Stempel (Reuters) – Alphabet’s Google has agreed to settle a lawsuit claiming it secretly tracked the internet use of millions of people who thought they were doing their browsing privately. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, put a scheduled Feb. 5, 2024 trial in the proposed class action on hold…

By Karen Brettell NEW YORK (Reuters) -The dollar dipped against the Japanese yen on Thursday on expectations the Federal Reserve will cut interest rates next year, but rebounded from earlier losses against the euro in choppy trading. The greenback has declined as expectations of rate cuts have increased, notably after the Fed’s unexpectedly dovish stance…

By Yelin Mo and Casey Hall BEIJING (Reuters) -Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of the world’s top five automakers. The sedan, dubbed the SU7 with the SU short for Speed Ultra, is a highly anticipated model that…

By Amina Niasse NEW YORK (Reuters) -The number of Americans filing initial claims for unemployment benefits rose last week, indicating the labor market continues to cool in the year’s fourth quarter. New state unemployment benefit claims rose by 12,000 last week to 218,000, according to the Labor Department. A Reuters poll showed economists expected an…

By Jonathan Stempel NEW YORK (Reuters) -The New York Times sued OpenAI and Microsoft on Wednesday, accusing them of using millions of the newspaper’s articles without permission to help train chatbots to provide information to readers. The Times said it is the first major U.S. media organization to sue OpenAI, creator of the popular artificial-intelligence…

By Blake Brittain and Jaspreet Singh (Reuters) -Apple can for now resume sales of its flagship smartwatches, after a U.S. appeals court on Wednesday paused a government commission’s import ban on the devices imposed in a patent dispute over its medical monitoring technology. The tech giant had filed an emergency request asking the U.S. Court…

By Blake Brittain (Reuters) -A U.S. appeals court on Wednesday temporarily paused a ruling that had restricted imports of Apple’s popular Apple Watches into the United States. Here is a look at what the case means for consumers and what is next for Apple. Why was the ban imposed? The U.S. International Trade Commission in…

By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Wednesday rejected Alibaba’s bid to dismiss a lawsuit over the alleged sale by various merchants of counterfeit versions of the popular children’s toy Squishmallows on its online platforms. U.S. District Judge Jesse Furman in Manhattan said Kelly Toys, whose parent Jazwares is owned by…

By Koh Gui Qing and Dhara Ranasinghe NEW YORK/LONDON (Reuters) -World stocks rallied to their highest level in more than a year on Wednesday, while the U.S. dollar hit a five-month low, as expectations mounted that key central banks such as the Federal Reserve will start to cut interest rates early next year. In line…