Author: Press Room

U.S. stock indexes opened lower on Thursday after data shows the number of Americans filing for unemployment benefits came in higher than expected last week, a sign suggesting the labor market has softened more than previously believed in the face of higher interest rates. The Dow Jones Industrial Average DJIA, +0.01% dropped 65 points, or 0.2%, to 33,421. The S&P 500 SPX, +0.36% was down 0.3%, while the Nasdaq Composite COMP, +0.76% declined by 0.5%. In the seven days ended April 1, new jobless claims fell to 228,000 from a revised 246,000 in the prior week, topping the 200,000 level…

Creditors eager to avoid steep losses on half-empty office buildings in the wake of the pandemic have been sending chills through the rest of the roughly $5.5 trillion commercial real-estate debt market. A year later, old and outdated office towers remain a key source of dread, but lenders now also must navigate stress in the banking system, tighter credit conditions, and a Federal Reserve that appears committed to keeping interest rates restrictive, despite cracks in the banking system emerging a year into its interest rate-hiking campaign. “It couldn’t be more tone deaf,” said Jason Callan, head of Columbia Threadneedle’s structured…

My girlfriend and I have been dating for approaching two years now and are starting to think about future plans — including buying a bigger place together for a forthcoming family. We currently live in the one-bedroom condo I bought in 2017. I’m 38 and feel confident about my financial situation. I make $130,000 a year, have $200,000 in my 401(k), no credit-card debt, and have roughly $55,000 in savings on top of my condo.  My girlfriend, who is about to turn 35, is in a very different place. She earns $80,000 a year, has no retirement account, owns no property,…

The numbers: A survey of consumer sentiment fell to a four-month low of 62 in March on growing worries about a recession. The final reading in March was down from an original 63.4, the University of Michigan said. The index registered 67 in February. Consumer sentiment helps gauge how Americans feel about their own finances as well as the broader economy. Key details: A gauge that measures what consumers think about the current state of the economy dropped to 66.3 in March from 70.7in the prior month. More notably, a measure that asks about expectations for the next six months…

© Reuters. FILE PHOTO: Harvey Weinstein departs New York Criminal Court following another day of jury deliberations in his sexual assault trial in the Manhattan borough of New York City, New York, U.S., February 21, 2020. REUTERS/Lucas Jackson/File Photo By Daniel Wiessner (Reuters) -A former model has filed a lawsuit claiming a one-time executive at movie studio Miramax raped her after luring her to a hotel with the promise of a meeting with the company’s then-Chief Executive Harvey Weinstein. The lawsuit was filed in New York state court on Thursday by Sara Ziff, who says the alleged assault by Fabrizio…

By Laura Sanicola (Reuters) – Oil prices settled largely unchanged on Wednesday, despite greater-than-expected draws in and fuel stockpiles, as the market weighed worsening economic prospects against expectations of U.S. crude inventory declines and plans by OPEC+ producers to reduce output. futures settled up 5 cents, or 0.1%, at $84.99 a barrel, while West Texas Intermediate crude ended 10 cents, or 0.1%, lower at $80.61 a barrel. U.S. crude inventories fell 3.7 million barrels last week, about 1.5 million barrels more than forecast, government data showed. Gasoline and distillate stocks also fell more than expected, drawing down by 4.1 million…

By Geoffrey Smith Investing.com — The dollar was testing a two-month low against its major partners early on Tuesday, still under pressure after weak data from the manufacturing sector on Monday that encouraged hopes of an early ‘pivot’ from the Federal Reserve. By 03:00 ET (07:00 GMT), the , which tracks the greenback against a basket of six developed economy currencies, was down less than 0.1% from Monday’s close at 101.755. Expectations of a growth slowdown had already strengthened on Monday due to the sharp rise in oil prices after OPEC made a surprise 1.1 million barrel cut to its…

By Giuseppe Fonte ROME (Reuters) – Italy is likely to confirm its budget deficit targets for this year and next, people familiar with the matter said, as the Treasury aims for tighter fiscal policy to limit the impact of rising euro zone interest rates. In its Economic and Financial Document (DEF) to be unveiled next week, the Treasury aims for a 2023 fiscal gap at 4.5% of gross domestic product, unchanged from the target set last November, the people told Reuters. The government is also expected to keep its 3.7% deficit goal for 2024. Last year, Italy reported a budget…

Topline Just one day after job openings plummeted to a nearly two-year low, payroll processor ADP reported that private employers added fewer jobs than expected last month as they also started to scale back on wage increases—adding to concerns the economy could face a worse-than-feared recession as the Federal Reserve works to temper stubbornly high inflation. Key Facts Private employment increased by 145,000 jobs from February to March as industries such as finance, professional services and manufacturing lost tens of thousands of jobs apiece—far fewer than the 261,000 new jobs economists had projected, according to the ADP’s National Employment Report…

Just because a company pioneers a great idea, it does not make its stock a good investment. This comes to mind in considering Redwood City, Calif.-based Zuora — a 1,549-employee enterprise software company founded in 2007 that helps companies to launch and manage their subscription-based services. Sadly for investors, Zuora stock has lost 55% of its value since going public in April 2018 — now sporting a market capitalization of $1.2 billion. Could a turnaround be in the offing? Its stock has risen 11% since March 1 when it reported better than expected results for its fourth quarter. Here are…