US new home sales jump, median price surges to record high

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WASHINGTON: New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum. The Commerce Department said on Friday new home sales increased 2.9 percent to a seasonally adjusted rate of 610,000 units last … Powered by WPeMatico

Emmanuel Macron's charm offensive in Brussels debut – BBC News

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BBC News Emmanuel Macron’s charm offensive in Brussels debutBBC NewsAn enormous smile on the red carpet. A flirtatious wink for the BBC’s political editor. Emmanuel Macron laid on the charm from the second he stepped out of his limo at his first meeting of the European Council in Brussels. At the president’s mid-summit …EU will […]

Trump signals he will work with Republican holdouts on health bill – Channel NewsAsia

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Channel NewsAsia Trump signals he will work with Republican holdouts on health billChannel NewsAsiaU.S. President Donald Trump acknowledged that a lack of support from four Senate Republicans leaves the party’s healthcare overhaul on a “very, very narrow path” to win passage, but signalled a willingness to work with them to make changes.Donald Trump says he […]

Manslaughter charges eyed in deadly Grenfell Tower blaze – CTV News

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CTV News Manslaughter charges eyed in deadly Grenfell Tower blazeCTV NewsLONDON — Police are considering filing manslaughter charges related to the fire at a west London apartment tower that killed at least 79 people. In its most detailed briefing on the criminal investigation, the Metropolitan Police on Friday confirmed … and more » Powered by WPeMatico

Elbit Systems says innovation key to crowded drone market

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PARIS: Israeli defense electronics company Elbit Systems Ltd , is moving quickly to innovate and maintain its edge in a global market in which it faces increasing competition from China, France, Turkey and others. The unmanned aerial vehicles (UAV) maker’s vice president Elad Aharonson told … Powered by WPeMatico

Major US banks would withstand recession: US Fed

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WASHINGTON: The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced on Thursday (Jun 22). The results of the first part of the central bank’s so-called stress tests showed 34 major lenders were on solid … Powered by WPeMatico

France's Altice USA surges in New York market debut

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NEW YORK: Altice USA shares rallied on Thursday (Jun 22) in their New York market debut after the telecom group controlled by French billionaire Patrick Drahi raised some US$1.9 billion in an initial public offering. Shares jumped nine per cent to close at US$32.71 in the first day of trading … Powered by WPeMatico

Health shares boosted as US stocks end flat

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NEW YORK: Health and pharmaceutical shares moved broadly higher on Thursday (Jun 22) after Senate Republicans unveiled a new health reform proposal as US stocks ended little changed. Oil prices, which finished at multi-month lows on Wednesday, rallied a bit, boosting some petroleum-linked equities … Powered by WPeMatico

Tesla eyes manufacturing in China

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NEW YORK: Tesla said on Thursday (Jun 22) it was considering the possibility of manufacturing in China as it ramps up for expansion of its line of electric-powered cars. The California company founded by entrepreneur Elon Musk said in an email it was in talks with the Shanghai Municipal Government … Powered by WPeMatico

US banking group sees three more Fed rate hikes in 2018

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NEW YORK: The trend of solid US economic growth should continue into 2018, setting the stage for potentially three more Federal Reserve rate increases next year, the American Bankers Association said on Thursday (Jun 22). The banking group’s economic forecast committee predicts a “slight … Powered by WPeMatico

Dispute at key German plant could hit Daimler output

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FRANKFURT: Germany’s Daimler could suffer a drop in production of Mercedes-Benz luxury cars next month because of a dispute over future projects between management and unions at a key plant. The works council at Untertuerkheim, home to Daimler’s global headquarters, will oppose any overtime work … Powered by WPeMatico