Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Some traders think the energy rally is about to wane, despite the sector being one of June's big winners.ETF Edgeread more
Stocks with this one feature are poised to crush the market after a rate cut, according to Goldman Sachs.Marketsread more
An Air Canada passenger traveling to Toronto from a weekend in Quebec City found herself stranded alone on the tarmac and in the dark, in what she described as a "nightmare."Airlinesread more
When Victoria's Secret exited the swimsuit business in 2016, it opened the floodgates for start-ups to conquer that market.Retailread more
U.K. online bank Monzo raised $144 million in a fresh round of funding led by the U.S. start-up accelerator Y Combinator.Technologyread more
CARACAS, June 10 (Reuters) - Venezuela's annual inflation dropped below 1 million percent in May for the first time since 2018, the opposition-run congress said on Monday, the result of the central bank restricting the domestic money supply.
Consumer prices in the 12 months ending in May rose 815,194%, the legislature said, compared with 1.3 million percent in April. Prices rose 906 percent in the first five months of year, it said.
The slowdown is the result of regulations requiring banks to keep a greater percentage of the bolivar currency in reserve, and because the central bank is issuing fewer new bolivars than in the past.
The result is that the banking system has less capacity to lend, said legislator Angel Alvarado in an interview, which will further slow an already ailing economy.
"They are slowing inflation through greater economic contraction," Alvarado said.
The figures are significantly more dire than those published by the central bank last week that showed inflation at around 130,060% in the 12 months ending in April, part of the first official economic indicators released in more than five years.
Those figures show that the economy, which went into recession in 2014, contracted 22.5% in the third quarter of 2018 with respect to the same period a year earlier.
The government of President Nicolas Maduro says Venezuela's economic problems are caused by U.S. sanctions that have crippled the OPEC member's export earnings and blocked it from borrowing from abroad.
Critics say a dysfunctional system of price and currency controls along with a wave of nationalizations of private businesses turned what was once a strong economy into a collapsing basket case. (Reporting by Corina Pons, writing by Brian Ellsworth; editing by Grant McCool)