General News

NEW YORK (Reuters) - U.S. online spending is experiencing a rebound, spurred by high gas prices, convenient delivery options and a surge in deals following a brief post-pandemic slump, U.S. retailers say.

Americans, who embraced shopping online when many stores were closed or limited traffic, may be coming back to it now, retailers say. However, the sustainability of these recent gains will depend on whether gas prices remain high and if shoppers can... (continue reading...)

By Caroline Valetkevitch

NEW YORK (Reuters) - The Standard & Poor's 500 will end the year near current levels, but strong stock market gains so far in 2024 have some strategists saying the index is at risk of a correction in coming months, according to a Reuters poll released Wednesday.

By year-end, the benchmark index will be at 5,302, according to the median forecast of 50 strategists polled May 13-22. That is slightly below Tuesday's... (continue reading...)

(Reuters) - Amazon.com is working on an artificial intelligence-driven overhaul of its Alexa voice assistant and plans to charge a monthly subscription fee to offset technology costs, CNBC reported on Wednesday.

The online retail giant will launch a more conversational version of the voice assistant later this year, positioning it to better compete with AI-powered chatbots from Microsoft and Alphabet's Google, the report said, citing people with... (continue reading...)

The persistent and large federal deficits in the US, estimated at around $1.8 trillion (6.4% of GDP), are posing noteworthy risks to the economy, Piper Sandler economists said in a Tuesday report.

These deficits, coupled with robust state and local spending, threaten to keep inflation high and interest rates elevated in the short term. However, the long-term implications are even more concerning.

In the note, Piper economists highlight that persistent federal deficits... (continue reading...)

Emergency crews are battling a fire at Novo Nordisk's (NYSE: NVO) headquarters in Bagsvaerd, a Copenhagen suburb, the second one in a week.

The Danish pharmaceutical company said that the blaze, which began outside a building, had spread to an adjacent office.

"The fire brigade is present, and the process of extinguishing the fire is expected to last some hours," the company wrote.

NVO shares fell 1.7% in premarket trading.

Fortunately, the smoke is non-toxic, and no... (continue reading...)