Category: US

U.S. job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate hike this year despite sluggish wage gains. Non-farm payrolls jumped by 222,000 jobs last month, driven by hefty gains in healthcare, government,…

Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it would pay $9 billion to pick up the parent of Texas power transmission company Oncor Electric Delivery Co from bankruptcy, stepping up its pursuit of steady returns in utilities. If the all-cash deal is approved by a bankruptcy judge and Texas regulators, it will hand…

Uber Technologies Inc director David Bonderman said on Tuesday that he has resigned from the company’s board following a remark he made during an Uber staff meeting that was widely seen as offensive to women. Bonderman’s ill-timed remark came during an all-staff meeting Tuesday to discuss of how the ride-services company plans to transform itself…

Oil prices trimmed losses on Friday, having fallen more than 3 percent at one stage, the day after skidding to five-month lows as mounting concerns about global oversupply wiped out price gains since OPEC sealed a landmark accord to cut output. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $44.92 per barrel…

U.S. job growth likely rebounded in April and wages increased, pointing to a further tightening in labor market conditions that could pave the way for the Federal Reserve to raise interest rates next month. Nonfarm payrolls probably increased by 185,000 jobs last month, according to a Reuters poll of economists, after a paltry gain of…

Crude oil lost ground on Thursday, falling for a third out of four sessions and trading near its lowest since late March after data showed a lower than expected decline in U.S. inventories. U.S. crude stockpiles fell less than expected last week, while gasoline inventories grew as demand remained weak, the Energy Information Administration said…

Apple Inc (AAPL.O) plans to create a $1 billion fund to invest in U.S. companies that perform advanced manufacturing, Chief Executive Officer Tim Cook said on Wednesday, the iPhone maker’s latest effort to show how it is creating U.S. jobs. The Cupertino, California company will announce the fund’s first investment later in May, Cook said…

The U.S. Supreme Court on Tuesday will hear oral arguments in a case that has the potential to scale back the Securities and Exchange Commission’s ability to recover illegal profits earned as a result of fraud or other wrongdoing. The case, which involves New Mexico-based investment adviser Charles Kokesh who was sued by the SEC…

The United States should “use every arrow” in its quiver to ensure a level commercial playing field in China, a U.S. business lobby said on Tuesday, warning that 2017 could be the toughest year in decades for American firms in the country. China’s policies designed to support domestic companies and create national champions have narrowed…

Ride services company Uber Technologies Inc UBER.UL said on Tuesday its head of communications, Rachel Whetstone, will leave the company. Whetstone’s departure comes weeks after two of Uber’s high-level executives announced their plans to leave. Uber had recently faced calls for consumers to boycott the company and make changes in senior management following a series…