Business

New orders for key U.S.-made capital goods were unexpectedly unchanged in October and shipments rebounded modestly, which could temper expectations of an acceleration in business spending on equipment early in the fourth quarter.

IKEA Group, the owner of most IKEA furniture stores worldwide, plans to cut 7,500 jobs over the next couple of years, mainly administrative staff in central support functions, it said on Wednesday.

The United States and opponents of President Donald Trump's steel and aluminium tariffs both confirmed their wish to litigate on Wednesday, triggering the procedure for World Trade Organization dispute hearings, a Geneva trade official said.

U.S. borrowers filed the fewest applications for home refinancing in almost 18 years last week even as mortgage rates drifted lower in step with U.S. bond yields, the Mortgage Bankers Association said on Wednesday.

Illinois, the U.S. state with the lowest credit rating on Wall Street, has often been chastised for using gimmicks to balance its budget.

Foot Locker shares jumped 20 percent on Wednesday after third-quarter results showed shoe sales turning back to growth thanks to a boost from Nike's latest lines, heading off fears it was losing out to Amazon and other online stores.