Business

Average US long-term mortgage rate climbs to 6.51%, highest level in nearly nine months

Thursday, May 21 by SRN News

The average long-term U.S. mortgage rate climbed this week to its highest level in nearly nine months, driving up borrowing costs for homebuyers during what's traditionally the housing market's busiest time of the year. The benchmark 30-year fixed rate mortgage rate rose to 6.51% from... Read More.

Birkenstock shares jump after $250 million buyback plan

Thursday, May 21 by SRN News

May 21 (Reuters) - Shares of Birkenstock surged nearly 17% on Thursday after the German sandal maker said it would buy back $250 million of its stock through an accelerated share repurchase agreement, following a recent selloff. The move comes days after a sharp decline... Read More.

Regulators question StanChart following CEO Winters’ AI comments amid job cuts, Bloomberg News reports

Thursday, May 21 by SRN News

May 21 (Reuters) - Hong Kong and Singapore regulators have sought clarity from Standard Chartered after CEO Bill Winters said the global lender plans to replace "lower-value human capital" with technology, Bloomberg News reported on Thursday. Winters' comment came up in discussions with the Monetary... Read More.

Ralph Lauren beats quarterly estimates on resilient luxury apparel demand

Thursday, May 21 by SRN News

May 21 (Reuters) - Ralph Lauren beat quarterly results estimates on Thursday as demand for its high-priced Polo shirts and cotton cable-knit jumpers stayed resilient among affluent shoppers, lifting its shares about 10% before the bell. The robust quarterly performance was led by sales in... Read More.

Oil market could hit ‘red zone’ in July-August, IEA chief says

Thursday, May 21 by SRN News

(Adds dropped first name of IEA chief in second paragraph) By Robert Harvey LONDON, May 21 (Reuters) - The start of peak summer fuel demand combined with the lack of new oil exports from the Middle East and depleting stocks could push the oil market into... Read More.

Kontoor to sell Lee denim brand to Authentic Brands in up to $1 billion deal

Thursday, May 21 by SRN News

May 21 (Reuters) - Kontoor Brands said on Thursday it had agreed to sell its Lee denim brand for up to $1 billion to Authentic Brands Group, as the apparel maker streamlines its operations and focuses on higher-growth brands such as Wrangler. The deal comprises... Read More.

Parker-Hannifin to acquire KKR-owned Circor for $2.55 billion

Thursday, May 21 by SRN News

May 21 (Reuters) - U.S. investment firm KKR said on Thursday it would sell aerospace and defense company Circor to motion control products maker Parker-Hannifin for $2.55 billion. Circor, which makes components for commercial and military aircraft, missile systems and naval vessels, is expected... Read More.

A parody ‘cockroach’ party in India becomes major outlet for youth anger and protest

Thursday, May 21 by SRN News

NEW DELHI (AP) - It began as a satirical online project. Now millions of young Indians are flocking to it as an outlet for their frustration. A parody political party called the Cockroach Janta Party, with the insect as its symbol, has exploded across India's... Read More.

UK offers cheaper chocolate and tickets to the zoo in bid to ease cost of living squeeze

Thursday, May 21 by SRN News

LONDON (AP) - The British government is offering cheaper chocolate and discounted entry to theme parks as it seeks to ease a cost-of-living squeeze and win back voters. Treasury chief Rachel Reeves on Thursday announced modest handouts to help alleviate rising costs sparked by the... Read More.

US jobless aid filings fell to 209,000 last week as layoffs remain low despite economic uncertainty

Thursday, May 21 by SRN News

WASHINGTON (AP) - Fewer Americans filed for jobless aid last week as layoffs remain low despite a number of uncertainties that continue to cloud the economy. U.S. applications for unemployment benefits for the week ending May 16 fell by 3,000 to 209,000, the Labor Department... Read More.

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Current Weather

Average US long-term mortgage rate climbs to 6.51%, highest level in nearly nine months

Birkenstock shares jump after $250 million buyback plan

Regulators question StanChart following CEO Winters’ AI comments amid job cuts, Bloomberg News reports

Ralph Lauren beats quarterly estimates on resilient luxury apparel demand

Oil market could hit ‘red zone’ in July-August, IEA chief says

Kontoor to sell Lee denim brand to Authentic Brands in up to $1 billion deal

Parker-Hannifin to acquire KKR-owned Circor for $2.55 billion

A parody ‘cockroach’ party in India becomes major outlet for youth anger and protest

UK offers cheaper chocolate and tickets to the zoo in bid to ease cost of living squeeze

US jobless aid filings fell to 209,000 last week as layoffs remain low despite economic uncertainty

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