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Bloomberg Applications for US state unemployment insurance rose for a third week to the highest since November as more companies announce job cuts, suggesting some softening in the labour market. Initial unemployment claims increased by 7,000 to 251,000 in the week ended July 16, Labour Department data showed. The figures coincide with the reference period for the July jobs report ...

  Bloomberg Tesla Inc has been going through “supply chain hell,” but Elon Musk believes the electric-car maker stands a chance of emerging from it in the second half of the year. The chief executive officer tempered his optimism while discussing Tesla’s better-than-expected earnings, emphasising how challenging it’s been to secure parts and materials. Tesla sold roughly 75% of its ...

  Bloomberg Twitter Inc reported disappointing second-quarter sales on Friday, another blow to a company that is already fighting a high-profile legal battle with Elon Musk over the fate of the social network. Revenue falls 1% in the quarter from a year earlier, its first annual decline since the middle of the pandemic in 2020. Sales totaled $1.18 billion in ...

  Bloomberg AutoNation Inc shrugged off a sales decline to post record profit in the second quarter as US prices for new vehicles soar. The nation’s largest auto dealer chain said earnings were $6.48 a share during the period, up 34% from a year earlier and beating analyst estimates. Revenue fell 2% to $6.9 billion and just missed the consensus ...

Bloomberg US social-media giants were poised to see more than $76 billion wiped off their stock-market values on Friday after disappointing revenue from Snap Inc raised concerns about the outlook for online advertising. The Snapchat parent plummeted as much as 30% in premarket trading. Meanwhile, Facebook parent Meta Platforms Inc falls 4.8%, Google owner Alphabet Inc declined 2.8%, Twitter Inc ...

  Bloomberg US equity futures slipped in choppy trading as investors await the next batch of second-quarter earnings for clues on how well companies are coping with surging prices. Bonds extended an advance. Nasdaq 100 contracts fall 0.4%, while those on the S&P 500 ticked lower. The Stoxx 600 Index added 0.5%, poised for a weekly advance as investors shrugged ...

  Bloomberg Gold rises, erasing its previous decline to the lowest level in 15 months, after the European Central Bank (ECB) raised rates by a larger-than-expected 50 basis points. European stocks and bonds slumped and the euro rose after the ECB joined global central banks in driving outsized rate increases to quell inflation. Bullion climbed back above $1,700 an ounce. The ...

Bloomberg Oil declined as investors assessed signs of lackluster US gasoline demand and the return of supplies from Libya. West Texas Intermediate futures fall towards $95 a barrel. The slump came after a US report showed gasoline inventories rose more than expected last week, while stalling demand sent the motor fuel’s premium over crude plummeting. Further bearish signs emerged from ...

  Geneva / WAM International Telecommunication Union (ITU) has announced that the next World Radiocommunication Conference (WRC-23) will take place at the Dubai World Trade Centre, between November 20 and December 15, 2023. Held every four years for a period of four weeks, the conference is mandated to update the Radio Regulations, the sole international treaty governing the use of ...

  Dubai / WAM Arada has reported a 30 percent growth in the value of the property sold in the first six months of 2022, as buyer interest in the Sharjah and wider UAE property markets continues to grow. The developer sold homes valued at AED1.49 billion at its two Sharjah megaprojects, Aljada and Masaar, thanks to ongoing demand for ...