The U.S. economy is growing moderately after a winter swoon and likely strong enough to support an interest rate increase by the end of the year, but concerns remain over the recovery of the labor market, U.S. Federal Reserve officials said on Wednesday.
North America
General Motors credit ratings raised to 'BBB-' by Fitch
General Motors Co (GM.N) said on Thursday that Fitch Ratings had raised the credit ratings of both GM and GM Financial to investment grade.
U.S. to press China on currency, eye on AIIB: official
U.S. officials will press their Chinese counterparts on currency policy at high-level talks next week, and have not taken off the table the possibility that the United States may one day join a China-led infrastructure bank, a senior U.S. Treasury official said.
Nasdaq at record as Wall Street runs on strong data; Greece eyed
The Nasdaq Composite on Thursday erased its last standing milestone from the dot-com era as it set a record intraday high, with stocks on Wall Street in rally mode boosted by strong economic data.
Small U.S. frackers face extinction amid drilling drought
Oil field work was coming in fast when GoFrac doubled its workforce and equipment fleet at the beginning of last year, just one of hundreds of small oil service companies thriving on the revival of U.S. drilling.
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Starbucks Corp, the world's biggest coffee chain, said it would close all 23 of its La Boulange retail locations by the end of September as the stores were not sustainable for its long-term growth.
Photoshop maker Adobe Systems Inc (ADBE.O) reported a better-than-expected profit for the sixth straight quarter, helped by a 12 percent sequential jump in annualized recurring revenue in its digital media segment.
U.S. permits for future home construction surged to a near eight-year high in May, suggesting a building up of momentum in housing and the broader economy after a dismal performance at the start of the year.
U.S. stocks rose on Tuesday following back-to-back daily declines, with merger activity more than offsetting market concerns as Greece struggles to avoid a default on its debt.
Botanical vaporizer manufacturer Pax Labs received $46.7 million in Series C financing from their investors to expand operation to the international market.
To enhance passengers in-fight entertainment experience, United States-based airline carrier, Virgin America is introducing its latest version of its "Red system", which works on an Android platform and uses a high resolution multi-touch screen, like today's smartphones. The Android-based entertainment systems also gets more storage capacity, more games, improved maps and surround sound technology from startup Dysonics.
The U.S. Federal Reserve is on track to raise interest rates for the first time in nearly a decade in September, according to a Reuters poll that suggests economists now are mostly confident about that timing.
Apparel retailer Gap Inc (GPS.N) said it would close a quarter of Gap specialty stores in North America over the next few years, including 140 this year, potentially affecting thousands of jobs as the company struggles with a slump in sales at its namesake brand.
Drugstore operator CVS Health Corp (CVS.N) will buy Target Corp's (TGT.N) pharmacies and clinics in a $1.9 billion deal that should help it bargain with drug makers for lower prices, while freeing Target from a costly business where it struggled to make a profit.
