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Average long-term US mortgage rate dips to 6.17%, its lowest level in more than a year

The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year. Lower mortgage rates boost homebuyers’ purchasing power. They also benefit homeowners eager to refinance their current home loan to a ...
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Exclusive-CK Hutchison, Iliad consider tie-up up of their Italian operations, sources say

By Amy-Jo Crowley, Clare Jim and Elvira Pollina (Reuters) -Hong Kong conglomerate CK Hutchison has been studying a potential tie-up of its Italian telecom unit Wind Tre and the Italian operations of French telecoms group Iliad, three sources familiar with the matter told Reuters.  In the ...
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US delays expansion of export restrictions on Chinese firms after Trump-Xi meeting, Bessent says

By Doina Chiacu and Alexandra Alper (Reuters) -The U.S. will suspend for one year a new measure that vastly expanded the number of Chinese firms facing tough restrictions on access to U.S. technology, U.S. Treasury Secretary Scott Bessent said on Thursday. The move, agreed as ...
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Fox’s ad strength fuels quarterly revenue growth, announces $1.5 billion share buyback

(Reuters) -Fox Corp beat estimates for quarterly revenue on Thursday, driven by continued digital growth at free streaming service Tubi and stronger ratings and ad pricing across its news and NFL broadcasts, sending its shares up 5% before the bell. The company also announced plans ...
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Obesity, diabetes treatments fuel Eli Lilly growth and spark bidding war

The market for obesity and diabetes treatments remains scorching hot, funneling billions in sales to Eli Lilly and fueling a bidding war over another drugmaker. Lilly said Thursday that its top-selling drugs, Mounjaro and Zepbound, brought in more than $10 billion combined during the recently ...
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Chinese airlines return to profit on summer surge, but challenges persist

BEIJING (Reuters) -China’s three biggest airlines posted their first collective quarterly profit in a year in the third quarter on the back of the peak summer season, but the recovery could be fleeting as oversupply continues to drag down the domestic aviation market. Flag carrier ...
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Kellanova beats quarterly estimates on resilient demand for breakfast items

(Reuters) -Kellanova beat Wall Street estimates for third-quarter sales and profit on Thursday, driven by resilient demand for its ready-to-eat breakfast items and snacks, including Pringles and Pop-Tarts, even as macroeconomic uncertainty looms. WHY IS IT IMPORTANT Kellanova has capitalized on the strength of its brands ...
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KKR-backed ContourGlobal seals $350 million funding package for US solar project

MILAN (Reuters) -ContourGlobal has secured a funding package worth more than $350 million to support its solar installations in Colorado, the group owned by U.S. investment fund KKR said on Thursday. The deal includes a tax equity investment from Tyr Energy, part of Japan’s ITOCHU ...
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S&P Global raises annual earnings forecasts on strong bond issuance activity

(Reuters) -S&P Global raised its annual earnings forecasts on Thursday, as robust bond issuance activity drove growth in its ratings business, sending its shares up 2.4% before the bell. Credit spreads, a crucial gauge of the health of the corporate sector, were relatively tight in ...
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Universal Music and AI song generator Udio settle lawsuit and partner on new AI music platform

LONDON (AP) — Universal Music Group and AI song generation platform Udio have settled a copyright infringement lawsuit and agreed to team up on new music creation and streaming platform, the two companies said in a joint statement. Universal and Udio said Wednesday that they ...
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Banks and retailers run short on pennies as the US Mint stops making them

NEW YORK (AP) — The United States is running out of pennies. President Donald Trump’s decision to stop producing the penny earlier this year is starting to have real implications for the nation’s commerce. Merchants in multiple regions of the country have run out of ...
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South Korean and Japanese leaders vow to improve ties in face of global uncertainty

GYEONGJU, South Korea (AP) — South Korean President Lee Jae Myung and Japan’s new Prime Minister Sanae Takaichi met in their first summit Thursday, pledging to strengthen ties that have been frequently strained by their bitter wartime history. Their meeting in South Korea came after ...
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