Today's Top Story
U.S. retail sales beat expectations; weekly jobless claims still elevated
WASHINGTON (Reuters) - U.S. retail sales increased more than expected in June, but a resurgence in new COVID-19 cases is chipping at the budding recovery, keeping 32 million Americans on unemployment benefits. Read More
Business News
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China's economy rebounds after steep slump, weak demand, U.S. tensions raise risks
BEIJING (Reuters) - China's economy returned to growth in the second quarter after a deep slump at the start of the year, but unexpected weakness in domestic consumption underscored the need for more policy support to bolster the recovery after the shock of the coronavirus crisis.
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India's Reliance seen emerging as bigger threat for U.S. firms like Amazon, Walmart
NEW DELHI/BENGALURU (Reuters) - A $20 billion fund raising spree may take India's Reliance closer to its dream of becoming a digital giant, further threatening the ambitious plans U.S. companies like Amazon, Walmart and Zoom have for India.
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Twitter shares stumble after high-profile, unprecedented hack
(Reuters) - Shares of Twitter Inc dropped more than 4% in pre-market trading on Thursday, a day after hackers gained access to the social media company's internal systems to hijack accounts of several politicians, billionaires, celebrities and companies.
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Economic News
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U.S. retail sales beat expectations; weekly jobless claims still elevated
WASHINGTON (Reuters) - U.S. retail sales increased more than expected in June, but a resurgence in new COVID-19 cases is chipping at the budding recovery, keeping 32 million Americans on unemployment benefits.
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Amid national debate on race, Fed's Bostic sees central bank role on inequality
(Reuters) - A rising stock market alongside 11% unemployment has put the U.S. Federal Reserve in a quandary amid the national debate over racial and economic fairness: Is it helping fix the problems its top officials agree need fixing, or deepening divides between Black and white, and rich and poor?
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U.S. passive stock funds back in demand as investors seek steadier returns
(Reuters) - U.S. passive equity funds have started to witness inflows after a two-month hiatus as investors flock to rising equity markets, but prefer shadowing indexes to picking stocks.
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Money News
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Chinese mutual fund industry sees jump in new funds and inflows
SHANGHAI (Reuters) - China's mutual fund industry saw another massive jump in new products and subscriptions in June, suggesting the swift rally in mainland stocks has room to run further.
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Corporate activist investors eye Europe, Japan more in first half: Lazard
BOSTON (Reuters) - Activist investors demanded more change at European and Japanese companies in the first half of 2020 while giving U.S. companies a pass, for now, new data from investment bank Lazard show.
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Leaf Group says one board member quits, another leaves audit committee
BOSTON (Reuters) - Leaf Group said in a regulatory filing on Wednesday that one of its board members resigned and another was removed from the audit committee because he is ineligible to serve on it.
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