US Retail Sales Little Changed Last Month as Fuel, Autos Drop

Grocery store sales were up 0.2%, likely reflecting rising food prices rather than a significant uptick in purchasing activity. Data out last week showed the cost of groceries has surged 13.1% in the last year, the most since 1979. Sales at restaurants and bars, the only services’ component in the report, climbed 0.1%, the weakest … Read more

Analysis: Oil prices turn more volatile as investors exit the market

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol Register now for FREE unlimited access to Reuters.com Register NEW YORK/LONDON, Aug 17 (Reuters) – Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst … Read more

Elon Musk says he is buying Manchester United

Aug 16 (Reuters) – Elon Musk, the world’s richest person, on Tuesday tweeted that he was buying football club Manchester United Plc (MANU.N), without offering any details. Musk has a history of being unconventional and making irreverent tweets, and it was not immediately clear whether he planned to pursue a deal to secure Manchester United. … Read more

China Stock Investors Fixated on Covid Curbs Shrug Off Stimulus

“The biggest near-term risk to Chinese growth is its dynamic Covid-zero policy, which is offsetting the positive effects of Beijing’s cautious policy easing,” said Jessica Tea, senior investment specialist for Greater China equities at BNP Paribas Asset Management. “China would need to see further fiscal stimulus in order to help stabilize its GDP growth, and … Read more

China and Russia step up bid to challenge the US dollar’s dominance

TOKYO — Efforts by China and Russia to chip away at the US dollar’s dominance in global payments have gained urgency with the Ukraine war and tensions over Taiwan. Russian President Vladimir Putin in June touted plans to create a new international reserve currency based on a basket of currencies of BRICS members Brazil, Russia, … Read more

Amazon Accuses FTC of Harassing Bezos in ‘Burdensome’ Probe

In a filing made public on Monday, Amazon claimed that FTC staff have made “unduly burdensome” demands as the agency investigates whether the company’s subscription services, including Amazon Prime, violate consumer protection laws. The online retailer is seeking to quash or limit the FTC’s most recent civil investigative demands, which are similar to subpoenas.

More Than 75% of US Businesses Prefer to Hire Freelancers in Uncertain Economy

About 78% of business leaders said they are more likely to hire freelancers rather than full-time employees while economic conditions remain uncertain, according to a survey by freelance marketplace Fiverr International Ltd. With economic uncertainty growing, 85% of US companies plan to implement a hiring freeze during the current downturn, and 78% plan to lay … Read more

Russia says Britain requested permission for spy plane to fly over Russia

MOSCOW, Aug 16 (Reuters) – Russia’s Defense Ministry said on Tuesday that Britain has requested permission for its RC-135 spy plane to fly over Russia, a move it termed “a deliberate provocation”. A UK Ministry of Defense source denied that Britain had asked permission to fly a spy plane over Russia. The Russian Defense Ministry … Read more