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The number of Americans filing new applications for jobless benefits slipped last week, but re-employment opportunities for laid-off workers are becoming more scarce, a sign that the unemployment rate probably remained elevated in August. Though the labor market is slowing, it is doing so in an orderly fashion that is keeping the economic expansion on track. The economy grew faster than initially thought in the second quarter, powered by consumer spending, other data showed on Thursday.

(Bloomberg) -- Gold held gains as traders assessed the latest US data while awaiting a key inflation gauge that may shed more light on the path of the Federal Reserve’s interest-rate policy.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsDense Cities With Low Emissions Suffer Most From Air Pollution, Study FindsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA Loud Warning From the Past A

(Bloomberg) -- Shell Plc is set to cut around 20% of its workforce in some oil and gas exploration and development divisions as Chief Executive Officer Wael Sawan works to boost efficiency and profitability. Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsDense Cities With Low Emissions Suffer Most From Air Pollution, Study FindsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA Loud Warni

Marathon Oil shareholders on Thursday approved the U.S. oil producer's nearly $16 billion acquisition by ConocoPhillips, the company said. Marathon Oil and ConocoPhillips expect the purchase, which is undergoing a Federal Trade Commission review, to close late in the fourth quarter of 2024. Details of the vote were not immediately available.

The U.S. economy grew faster than initially thought in the second quarter amid strong consumer spending, while corporate profits rebounded, which should help to sustain the expansion. The economy grew at a 1.4% pace in the first quarter. Economists polled by Reuters had forecast GDP would be unrevised at a 2.8% pace.

(Bloomberg) -- The US economy grew at a slightly stronger pace in the second quarter than initially reported, reflecting an upward revision to consumer spending that more than offset weaker activity in other categories.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessDense Cities With Low Emissions Suffer Most From Air Pollution, Study FindsAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA