With photographs obliquely showing a new rocket design, North Korea has sent a message that it is working on an intercontinental ballistic missile (ICBM) more powerful than any it has previously tested, weapons experts said on Thursday. If developed, such a missile could possibly reach any place on the U.S. mainland, including Washington and New […]
Read moreThe number of Americans filing for unemployment benefits rose less than expected last week, suggesting a further tightening in labor market conditions. Initial claims for state unemployment benefits increased 2,000 to a seasonally adjusted 234,000 for the week ended Aug. 19, the Labor Department said on Thursday. Data for the prior week was unrevised. Claims […]
Read moreCheck out which companies are making headlines before the bell: Tiffany – The luxury goods retailer earned 92 cents per share for the second quarter, six cents a share above estimates. Revenue also beat forecasts, but comparable-store sales fell one percent compared to forecasts for a 0.2 percent drop. Dollar Tree – The discount retailer […]
Read moreA blogger with an accurate record, Evan Blass, said this week that Google will unveil its new smartphone on Oct. 5. The Google Pixel 2 is expected to succeed the original Pixel and will be among the first new smartphones that will run Google’s new Android Oreo operating system, which was officially launched this week. […]
Read moreCurrency, United States Finance
At Jackson Hole, the death of an economic model may concern central bankers
As central bankers gather at the annual Jackson Hole symposium on Friday, analysts think the death of a major economic concept could dominate discussions. Known as Phillips curve, an economic concept developed by New Zealand economist William Phillips, it shows that inflation and unemployment have a stable and inverse relationship. However, in the recent months […]
Read moreGoogle has teamed up with a mental illness group to provide Americans with a test to check if you are depressed or mentally ill. People in the U.S. who type “clinical depression” in Google search via a mobile device will now be invited to check if they are clinically depressed via a screening questionnaire. The […]
Read moreEuropeans stocks provisionally closed higher on Thursday as investors awaited comments on monetary policy from the Jackson Hole meeting. The pan-European Stoxx 600 was 0.3 percent by closing deals, with all major bourses moving in positive territory. Markets in the U.S., meanwhile, turned negative ahead of central bank policy announcements. Construction and material stocks were […]
Read moreCurrency, United States Finance
Weak pound pushes UK household spending growth to slowest since 2014
British household spending grew at its weakest pace since late 2014 in the three months to June as the effect of a weaker pound since last year’s Brexit vote weighed on Britons’ spending power, official statistics showed on Thursday. Year-on-year spending growth dropped to 2.0 percent from 2.6 percent after expanding just 0.1 percent in […]
Read moreCurrency, United States Finance
India’s landmark Supreme Court ruling could be damning for Modi’s biometric payment scheme
The Indian government has suffered a huge setback after a landmark Supreme Court ruling found that citizens have a fundamental right to privacy, posing a risk for Prime Minister Narendra Modi’s biometric payment scheme. The highest court in the country voted unanimously Thursday that privacy is an “intrinsic” part of Article 21 of the Indian […]
Read moreShares in Britain’s Dixons Carphone plunged 30 percent after the retailer cut its full-year profit forecast on Thursday, blaming tougher conditions in the mobile market as customers keeptheir handsets longer. The retailer said headline pretax profit for the year was expected to be in a range of 360 million pounds to 440 million pounds ($460-562 […]
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