Category: Reuters
-
Europe’s STOXX 600 off record highs ahead of US data By Reuters
•
Written by Pranav Kashyap (Reuters) – European stocks retreated from record highs reached earlier on Friday, as caution prevailed ahead of important US data, although gains in Moncler and luxury goods stocks limited further declines in prices. The European index settled at 526.32 points. The benchmark index hit an all-time…
-
Poland reports two more deaths in central Europe floods By Reuters
•
WARSAW (Reuters) – Polish police said that the death toll from massive floods in southwestern Poland this month had risen to nine, and two more bodies were found during the clean-up operation. At least 26 people died across central Europe in the worst floods to hit the region in at…
-
Intel rejects Arm’s approach for product division, Bloomberg News reports By Reuters
•
(Reuters) – Arm Holdings approached Intel (NASDAQ:) about potentially acquiring the company’s products division but was told the business was not for sale, Bloomberg News reported on Thursday. The British chip company has not expressed interest in Intel’s manufacturing operations, the report added, citing a person familiar with the matter.…
-
Factbox-Over 350,000 Florida customers without power due to approaching Hurricane Helene By Reuters
•
(Reuters) – More than 350,000 homes and businesses were without power in Florida on Thursday as Hurricane Helen approached landfall in the state’s Big Bend region, according to data from PowerOutage.us. Hurricane Helen headed toward Florida’s Panhandle, bringing a potentially deadly storm surge to much of the coast. The US…
-
Major insider slashes nearly all of its stake in Trump’s media firm By Reuters
•
(Reuters) – One of the largest shareholders in former US President Donald Trump’s media company has almost canceled his stake after sale restrictions recently expired. United Atlantic Ventures, run by Trump Media co-founder Andrew Letinsky, who appeared on Trump’s reality TV show “The Apprentice,” has reduced its 5.5% stake in…
-
Wall St closes higher on strong US economic data By Reuters
•
Written by Echo Wang (Reuters) – Wall Street’s major indexes closed higher on Thursday, hitting a record high, as a rise in Micron Technology (NASDAQ:) shares and a strong U.S. jobless claims report eased concerns about the labor market. Shares of Micron Technology rose after the memory chip maker forecast…
-
CarMax beats second-quarter revenue estimates on higher unit sales By Reuters
•
By Ananta Agarwal (Reuters) – Used car retailer CarMax Inc beat Wall Street estimates for second-quarter revenue on Thursday as price cuts on used vehicles boosted unit sales, especially in the retail segment, sending its shares up 6.4 percent in afternoon trading. Used car dealerships have had a rocky ride,…
-
Dollar down in choppy trading after data; Swiss franc gains following rate cut By Reuters
•
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar fell in volatile trading on Thursday after a slew of U.S. data pointed to a relatively strong economy, while the Swiss franc rose after the country’s central bank cut interest rates by 25 basis points. The US dollar began to pare…
-
Citi joins hands with Apollo for $25 billion private credit program By Reuters
•
(Reuters) – Citigroup Inc and Apollo Global have teamed up for a $25 billion private credit and direct lending program, illustrating a growing alliance of banks and non-banks looking to grab a share of the lucrative $2 trillion market. Abu Dhabi’s sovereign wealth fund Mubadala Investment Company and Apollo’s retirement…
-
H&M abandons 2024 margin target as markdowns and costs hurt profit By Reuters
•
By Mary Manis and Helen Reid STOCKHOLM (Reuters) – H&M (ST:) scrapped its profit margin target for 2024 as high discounting, costs and fierce competition hurt operating profit in the third quarter, sending shares in the world’s second-biggest fashion retailer down about 8%. H&M has struggled to boost profitability amid…
-
Impending expiry of U.S. sanctions licence threatens Russia’s yuan liquidity By Reuters
•
Written by Elena Fabrichnaya MOSCOW (Reuters) – The expiration of a U.S. license allowing transactions involving pillars of Russia’s financial infrastructure could make doing business with Russian companies more difficult and costly, sources involved in imports and payments told Reuters. The yuan, which hit a near one-year high against the…
-
OpenAI to remove non-profit control and give Sam Altman equity, sources say By Reuters
•
Written by Crystal Ho and Kenrick Kay SAN FRANCISCO (Reuters) – ChatGPT maker OpenAI is working on a plan to restructure its core business into a for-profit company that would not be controlled by its nonprofit board, people familiar with the matter told Reuters, a move that would make the…
-
Taiwan reports surge of Chinese warplanes off its coast By Reuters
•
TAIPEI (Reuters) – Taiwan’s defence ministry said on Thursday it had detected an increase in the number of Chinese warplanes flying over its east, west and south coasts in what a security source described as Chinese simulations of attacks to prevent foreign forces from providing assistance during the conflict. Democratically…
-
Nvidia supplier SK Hynix’s shares rally as mass production of latest HBM chips begins By Reuters
•
Written by Joyce Lee and Hyunjoo Jin SEOUL (Reuters) – Shares of SK Hynix jumped more than 9 percent on Thursday after the South Korean company began mass production of its most advanced high-bandwidth memory chips, advancing in a race to meet demand from the artificial intelligence boom. Shares of…
-
Caterer Sodexo weighs acquisition of US rival Aramark, Bloomberg News reports By Reuters
•
(Reuters) – French food service company Sodexo is considering a possible acquisition of U.S. rival Aramark, Bloomberg News reported on Wednesday. Sodexo has been periodically discussing the deal with food and facilities management company Aramark in recent months, the reports said, citing people familiar with the matter. But there is…
-
Wall Street mixed as investors await Fed rate clues, data By Reuters
•
By Johann M. Cherian and Purvi Agrawal (Reuters) – Wall Street’s main indexes were mixed on Wednesday, with the index nearing a record high, as investors awaited more clues on the state of the economy and the next interest rate cut. The three main U.S. economic indicators rose to post…
-
US holiday spending on buy now, pay later to hit record due to debt-laden shoppers By Reuters
•
Written by Ariana McLemore NEW YORK (Reuters) – U.S. shoppers are expected to spend a record $18.5 billion using third-party buy-now, pay-later services on holiday purchases in the fourth quarter, according to a forecast released by data firm Adobe Analytics on Wednesday. With many Americans in debt recently, spending on…
-
Euro firms against dollar, yuan jumps on China’s stimulus boost By Reuters
•
By Ray Wee and Linda Pasquini LONDON/SINGAPORE (Reuters) – The euro edged up against the dollar on Wednesday while the yuan hit its strongest level in more than a year as China’s aggressive stimulus package provided the latest boost to risk appetite. The US dollar – the traditional safe-haven currency…
-
US Senate committee faults Boeing safety practices, FAA oversight By Reuters
•
By David Shepardson WASHINGTON (Reuters) – A U.S. Senate panel investigating Boeing Co’s safety culture on Wednesday criticized the planemaker’s quality practices and Federal Aviation Administration oversight, citing documents obtained in an ongoing probe. The Senate Permanent Subcommittee on Investigations, which is holding a hearing Wednesday with FAA Administrator Mike…