General News

By Matt Tracy

(Reuters) - Spreads on U.S. high yield bonds, or the premium companies pay over U.S. Treasuries, remain tight despite a pick-up in distress within the asset class, as investors see the majority of issuers weathering higher-for-longer interest rates.

Elevated rates and persistent inflation have eaten into the bottom lines of many U.S. corporate borrowers, particularly those with high leverage and lower credit ratings.

(Reuters) -Rivian Automotive said on Thursday it has received $827 million in an incentive package from the State of Illinois to expand operations at its Normal facility.

The Irvine, California-based company's shares rose nearly 10% in afternoon trade after having lost more than 60% of their value this year, as of Wednesday's close.

The Illinois plant, where Rivian also makes its electric delivery vans for its largest investor, Amazon.com,... (continue reading...)

By Howard Schneider

WASHINGTON (Reuters) - Weaker U.S. productivity gains in the first quarter may challenge the Federal Reserve's efforts to finish its inflation fight without a painful rise in unemployment, potentially stalling progress on prices absent a further economic slowdown.

A jump last year in how much workers produce helped the economy grow fast and hiring remain strong while inflation fell nonetheless. Data for the first three... (continue reading...)

(Reuters) -Universal Music Group on Thursday reported first-quarter earnings that comfortably beat expectations, helped by the record-breaking success of its star act Taylor Swift.

UMG executive were also upbeat about the label's new deal with TikTok, also announced on Thursday, which settled a dispute over artist pay and helped address wider artificial intelligence concerns in the industry.

UMG, the world's biggest music label, posted... (continue reading...)

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.22 percent.

“The 30-year fixed-rate mortgage increased for the fifth consecutive week as we enter the heart of Spring Homebuying Season,” said Sam Khater, Freddie Mac’s Chief Economist. “On average, more than one-third of home sales for the entire year occur between March and June. With two months left of... (continue reading...)