In a sign of improving labor markets, new claims for state unemployment benefits drop for a fifth straight week, the Labor Department reports. But a large increase in the number of people collecting checks indicates hiring remains sluggish.
Productivity in the U.S. economy increases at the fastest pace in six years during the third quarter, but the gains aren’t as impressive as initially reported a month ago.
European shares moved higher for the third straight session on Thursday in a broad-based move, with Peugeot among notable gainers on a possible alliance with Mitsubishi Motors.
Despite a barrage of early holiday sales leading up to the Black Friday weekend and easy comparisons against the year-earlier doldrums, retailers’ sales numbers in November failed to live up to expectations, suggesting a more competitive December to come.
Bank of America Corp. shares rose more than 4% in pre-open trade Thursday following news that the bank’s paying off $45 billion it got from the government during the financial crisis.
The European Central Bank, as expected, left its key lending rate unchanged at a record low 1% Thursday amid data showing that lenders in the euro zone have been reluctant to make loans.
MitsubishiMotors and France’s Peugeot are reportedly negotiating a capital tie-up that could give the French firm a 30% to 50% stake in the struggling Japanese automaker.
