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U.S. Housing Starts Plunge To Lowest Level In Over A Year In May

U.S. Housing Starts Plunge To Lowest Level In Over A Year In May

A report released by the Commerce Department on Thursday showed new residential construction in the U.S. plunged by much more than expected in the month of May. The Commerce Department said housing starts tumbled by 14.4 percent to an annual rate of 1.549 million in May after jumping by 5.5 percent to a revised rate of 1.810 million in April.
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Philly Fed Index Indicates First Contraction Since May 2020

Philly Fed Index Indicates First Contraction Since May 2020

Manufacturing activity in the Philadelphia region saw a modest contraction in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its current general activity index dropped to a negative 3.3 in June from a positive 2.6 in May.
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Bank Of England Lifts Key Rate To Highest Since 2009

Bank Of England Lifts Key Rate To Highest Since 2009

The Bank of England raised its key interest rate by a quarter basis point to the highest level since the global financial crisis in 2009, as inflationary pressures intensified amid the labor market tightness, but the pace of tightening fell short of the U.S. Federal Reserve's latest move. The Monetary Policy Committee voted 6-3 to raise the bank rate by 25 basis points.
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Schneider Electric Recalls About 1.6 Mln Electrical Panels

Schneider Electric Recalls About 1.6 Mln Electrical Panels

Schneider Electric USA Inc. is recalling about 1.6 million units of Electrical Panels for potential risk of thermal burn and fire hazards, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. These included about 289,000 units sold in Canada. The company said the load center can overheat to pose thermal burn and fire hazards.
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U.S. Jobless Claims Edge Down Less Than Expected To 229,000

U.S. Jobless Claims Edge Down Less Than Expected To 229,000

The Labor Department released a report on Thursday showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended June 11th. The report showed initial jobless claims edged down to 229,000, a decrease of 3,000 from the previous week's revised level of 232,000.
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Duke Energy Progress Says Customers Will See Bills Increase If NCUC Approves

Duke Energy Progress Says Customers Will See Bills Increase If NCUC Approves

Duke Energy Progress, a subsidiary of Duke Energy Corp. (DUK), said Thursday that it has made its annual filings with the North Carolina Utilities Commission (NCUC) this week for costs associated with fuel and various riders, including state programs to encourage renewable energy adoption, and energy efficiency and demand management programs to reduce energy use.
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22nd Century Group Names Hugh Kinsman As CFO

22nd Century Group Names Hugh Kinsman As CFO

Agricultural biotechnology firm 22nd Century Group Inc. (XXII) announced Thursday the appointment of Hugh Kinsman as Chief Financial Officer. Kinsman is currently CFO of GVB Biopharma, which 22nd Century acquired effective May 13, 2022.
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Pound Weakens After BoE Decision

Pound Weakens After BoE Decision

The pound slipped against its most major counterparts in the European session on Thursday, after the Bank of England raised its key interest rate by 25 basis points, as expected.
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