By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices unexpectedly fell in December amid declining costs for goods such as diesel fuel and food, suggesting inflation would continue to subside and allow the Federal Reserve to start cutting interest rates this year. The report from the Labor Department on Friday,…

Higher interest rates have squeezed the economy and prodded business to cut back on hiring, but a softer U.S. labor market still has plenty of muscle. Here’s what to watch for in the December jobs report, due out Friday morning. The forecast The U.S is expected to add solid 170,000…

By David Morgan WASHINGTON (Reuters) -Republican U.S. House Speaker Mike Johnson on Friday stood by a $1.59 trillion spending deal with Democratic Senate Majority Leader Chuck Schumer, defying hardline conservatives who had pressured him to scrap it in favor of lower spending and new border restrictions. Two days after a…

The numbers: Businesses added a solid 164,000 new jobs in December, paycheck company ADP said, in a sign the U.S. labor market remains fairly robust. The increase was the biggest in four months. Economists polled by the Wall Street Journal had forecast a gain of 130,000. The ADP payroll estimate…

By Jonathan Saul and Lisa Baertlein LONDON/LOS ANGELES (Reuters) -Container shipping rates for key global trade routes have soared this week, with U.S. and UK air strikes on Yemen stirring fears of a prolonged disruption to global trade in Red Sea, one of the world’s busiest routes, industry officials said…

The numbers: The number of Americans who applied for unemployment benefits in the final week of 2023 fell to a nearly three-month low of 202,000, suggesting that a softening labor market still has plenty of residual strength. New jobless claims declined by 18,000 from a revised 220,000 in the prior…

STOCKHOLM (Reuters) -Electrolux, the world’s second-biggest appliances maker, said on Friday that its fourth-quarter loss had widened from a year earlier due to high costs, intensified price competition and weak demand in North America, sending its shares lower. The Swedish group, which is due to publish its full quarterly earnings…

U.S. mortgage rates inched upwards in the latest week, but are expected to fall through the rest of the year. The 30-year fixed-rate mortgage rose slightly and averaged 6.62% as of January 4, according to data released by Freddie Mac FMCC, +5.56% on Thursday.  It’s up 1 basis point from…

By Tatiana Bautzer and Manya Saini -Citigroup said it would cut 20,000 jobs over the next two years, acknowledging a “clearly disappointing” quarter marred by one-off charges that resulted in a $1.8 billion loss. Shares of the bank – which is in the middle of a multi-year effort to cut…

The numbers: A barometer of business conditions at service-oriented companies fell in December to a seven-month low, suggesting a hiccup for the U.S. economy. The Institute for Supply Management’s survey dropped to 50.6% from 52.7% in the prior month. Numbers over 50% are viewed as positive for the economy. The index…