Bank of America mortgage applications jumped 80% in Q1, executive says
NEW YORK -Bank of America saw an 80% jump in mortgage applications between January and March as buyers were tempted by increasing home inventory and lower long-term bond yields, an executive said. “We’re seeing a steady increase in home buying…
Walgreen to pay more than $2.85 million to settle US overbilling charges
Walgreen will pay more than $2.85 million to settle whistleblower allegations that the pharmacy overbilled Medicaid programs in Georgia and Massachusetts for generic medications, the U.S. Department of Justice said on Thursday. The settlement partially resolves claims against the Walgreens…
TikTok Shop steps up Europe expansion with US future unclear
LONDON – E-commerce platform TikTok Shop said it will launch to users in France, Germany, and Italy on Monday, expanding its reach further into Europe even as TikTok faces being shut down in the U.S. if Chinese owner ByteDance does…
Coca-Cola to invest over $1.4 billion in Argentina
BUENOS AIRES – Coca-Cola Argentina and bottlers will invest more than $1.4 billion in the South American country to boost production, improve logistics, and optimize infrastructure, the company said in a statement on Thursday.
Nvidia-backed CoreWeave downsizes US IPO
CoreWeave reduced the size of its U.S. initial public offering and priced its shares below the indicated range, the company said on Thursday, dampening expectations that the listing would boost investor appetite for IPOs. The Nvidia-backed company is now looking…
Trump’s auto tariffs complicate Fed’s deliberations on rates
President Donald Trump’s permanent 25% tariff on imported autos has expanded the global trade war, feeding expectations for higher prices for cars and other products, but doing little to settle the debate about how policies of his two-month-old administration will…
Novo shares on track for biggest monthly fall since 2002, investor worries grow
LONDON -Novo Nordisk shares have fallen 25% so far in March and are on track for their biggest monthly drop since July 2002, as investor worries intensify that the obesity drug market pioneer has lost its edge over U.S. rival…
NY official rejects Texas judgment against doctor in abortion pill case
A local official in New York on Thursday rejected Texas’ effort to enforce a $100,000 judgment against a New York doctor accused of sending abortion pills to the state, escalating an unprecedented interstate conflict. Acting Ulster County Clerk Taylor Bruck…
US Justice Department considers merging DEA, ATF in major shakeup, memo says
WASHINGTON -The U.S. Justice Department is considering merging the lead agencies enforcing drug and gun laws in a major shakeup as it follows President Donald Trump’s instructions to sharply streamline the government, according to a memo first reported by Reuters….
Barclays switches preference to global fixed income over equities on tariff risks
Barclays said on Thursday it favors fixed income investments over equities for the first time in “several quarters” and warned global economic growth was at risk due to U.S. President Donald Trump’s escalating tariff policies. Despite hurdles such as rising…
Turkish competition board opens probe into Apple, other companies
ISTANBUL – The Turkish Competition Board said on Thursday it had decided to open an investigation into Apple, Destek Bilisim, Easycep Bilisim, Getmobil Technology and HB Bilisim regarding whether they intervened in the sales prices of resellers.
Analysis-Economic turbulence shakes US airlines as travel demand falters
CHICAGO/NEW YORK – U.S. airlines were flying high less than two months ago on talk of a new golden age, as strong travel demand and tight industry-wide capacity raised the prospect of a multi-year profit boom. But President Donald Trump’s…
US oil producers face new challenges as top oilfield flags
NEW YORK/HOUSTON – U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages and produces more water and gas and less oil – and may be nearing peak output. The Permian basin was…
Trump administration tells oil and biofuels groups to hash out new biofuel policy
NEW YORK – U.S. President Donald Trump’s administration has asked oil and biofuels producers to hash out a deal on the next phase of the nation’s biofuels policy to avoid the kind of political clashes that marked his first term,…
Three Intel board members to retire in latest shakeup amid turnaround
Three Intel board members will not stand for reelection at its 2025 annual meeting, the chipmaker said in a regulatory filing on Thursday, amid a historic transition under newly appointed CEO Lip-Bu Tan. Since late last year, the company has…
GameStop shares tumble as investors question bitcoin pivot
Shares of GameStop fell more than 15% on Thursday after the company’s plan to finance its bitcoin pivot raised questions about the timing of its move and its strategy to turn around its struggling retail business. The video game retailer’s…
UN slightly reduces rations for Rohingya refugees in Bangladesh
DHAKA – The United Nations World Food Programme has managed to sustain food assistance for Rohingya refugees in Bangladesh, though rations have been slightly reduced due to funding shortages, officials said on Thursday. Under the revised system, each refugee in…
Car rental firms Hertz, Avis zoom as tariffs seen hurting new-vehicle demand
Shares of highly shorted Hertz and Avis Budget Group surged on Thursday as U.S. President Donald Trump’s plan to slap a 25% tariff on imported vehicles raised prospects of consumers opting for car rentals instead of buying expensive new cars….
Putin envoy says Russia could supply a small nuclear power plant for Musk’s Mars mission
Russia could supply a small nuclear power plant for a mission to Mars planned by billionaire entrepreneur and SpaceX CEO Elon Musk, President Vladimir Putin’s international cooperation envoy said on Thursday. The envoy, Kirill Dmitriev, said Moscow could discuss the…
Denmark condemns what it calls Trump’s escalated rhetoric on Greenland
COPENHAGEN – Danish government ministers condemned what they called President Donald Trump’s escalated rhetoric on Thursday and praised Greenland’s inhabitants for their resilience in the face of U.S. pressure for control over the Arctic island. Reiterating his desire to take…