Category: Reuters
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Lou Dobbs, former Fox Business and CNN host, dead at 78 By Reuters
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(The day in the first paragraph is fixed as Thursday instead of Friday) By Kanishka Singh Lou Dobbs, a former Fox Business Network and CNN host who was a vocal supporter of former Republican President Donald Trump, has died at the age of 78, according to friends and a statement…
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Lou Dobbs, former Fox Business and CNN host, dead at 78 By Reuters
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(The day in the first paragraph is fixed as Thursday instead of Friday) By Kanishka Singh Lou Dobbs, a former Fox Business Network and CNN host who was a vocal supporter of former Republican President Donald Trump, has died at the age of 78, according to friends and a statement…
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Sterling needs more than higher UK rates to stay in the fast lane By Reuters
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(This story was corrected to change the company name to BNY from BNY Mellon (NYSE: BNY) in paragraph 7.) By Amanda Cooper and Dara Ranasinghe LONDON (Reuters) – Sterling hit a one-year high on Wednesday as investors sought higher returns as global interest rates began to fall, but strategists said…
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Tesla’s California registrations plunge three quarters in a row, dealer data shows By Reuters
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(Reuters) – Tesla Inc. (NASDAQ:) vehicle registrations in California fell for a third straight quarter in the April-June period, pointing to growing challenges facing the electric car maker, according to a report from the California New Car Dealers Association on Thursday. High interest rates and intense competition have reduced demand…
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D.R. Horton’s home sales forecast, $4 billion buyback send shares to record high By Reuters
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By Ananta Agarwal (Reuters) – D.R. Horton Inc cut its annual home sales forecast and beat Wall Street estimates for quarterly profit on Thursday, as historically low U.S. supply supported demand despite higher mortgage rates, sending its shares to a record high. The largest U.S. homebuilder by sales volume now…
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Euro lower after ECB stands pat, dollar climbs after data By Reuters
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By Tom Westbrook and Amanda Cooper SINGAPORE/LONDON (Reuters) – The Japanese yen hit a six-week high before retreating against the dollar on Thursday, keeping traders on alert for signs of official buying, while the euro steadied ahead of a European Central Bank meeting. The single European currency held near four-month…
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European shares open higher, ECB rate verdict on tap By Reuters
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(Reuters) – European shares opened higher on Thursday, led by energy shares, while investors also awaited the European Central Bank’s interest rate decision, due later in the day. Qatar’s main index rose 0.2% at 0711 GMT and was on track to end a three-session losing streak. Oil and gas helped…
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UK pay growth slows but remains high for Bank of England By Reuters
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LONDON (Reuters) – British workers’ wage growth slowed in the three months to the end of May but remained at levels typically too high for the Bank of England to keep inflation at its 2 percent target. Average weekly earnings excluding bonuses – a key gauge of inflationary pressures for…
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Explainer-What are Japan’s tactics based on latest suspected intervention? By Reuters
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TOKYO (Reuters) – Japan is suspected of intervening in the foreign exchange market to support the yen on several occasions this month, highlighting its unease over the pain the currency’s slide is inflicting on households as import costs rise. While authorities have not confirmed whether they have actually intervened, here’s…
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Standard Chartered boosts private bank team with 14 new hires By Reuters
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HONG KONG (Reuters) – Standard Chartered has hired more than a dozen new bankers for its private banking teams in Singapore, Hong Kong and the United Arab Emirates in a bid to grow its wealth management business, the bank said in a statement on Thursday. The appointments include Nicholas Cheng,…
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TSMC set to report strong profit; stock pressured by Trump comments By Reuters
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TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co., the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 30 percent jump in second-quarter profit on Thursday on surging demand. The world’s largest contract chipmaker, whose clients include Apple (NASDAQ:) and Nvidia (NASDAQ:), has benefited from…
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United Airlines Q3 profit outlook disappoints amid industrywide discounting pressure By Reuters
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By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines Holdings Inc on Wednesday forecast lower-than-expected profit in the current quarter as the industry grapples with a surplus of seat capacity in the domestic market that has undermined airlines’ pricing power. The Chicago-based airline expects adjusted earnings of $2.75 to $3.25…
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Yen jumps on possible intervention, sterling hits one-year high By Reuters
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By Chuck Mikolajczak NEW YORK (Reuters) – The yen rose sharply on Wednesday in a move suspected to be the result of another intervention by Japanese officials to support the currency, which has been battered by a multi-decade low. The yen has made several big moves in recent days, rising…
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Exclusive-Apax, Bain and CVC exploring potential bids for SoftwareOne, sources say By Reuters
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By Amy Jo Crowley and Oliver Hirt LONDON (Reuters) – Apax Partners, Bain Capital and CVC are each considering potential bids for Swiss software company Software One, three months after the company’s board was ousted, two people familiar with the situation said. Talks with interested funds are ongoing, one of…
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Japan’s Kanda says officials need to respond if speculators cause excessive FX moves, Kyodo reports By Reuters
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Written by Satoshi Sugiyama TOKYO (Reuters) – Japan’s top currency diplomat Masato Kanda said on Wednesday he would have to respond if speculators caused excessive moves in the currency market and there was no limit to the number of times authorities could intervene, Kyodo News reported. “I have no choice…
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Health insurer Elevance beats profit estimates on lower medical costs By Reuters
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By Sriparna Roy and Bhuyan Singh (Reuters) – Elevance Health Inc beat Wall Street estimates for quarterly profit on Wednesday as the company spent less than expected on covering medical costs for its members. Strength in the Carelon Healthcare Services unit, higher premiums and membership growth in Obamacare and commercial…
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Reckitt’s baby formula sales to take hit after tornado destroys warehouse By Reuters
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Written by Richa Naidu and Yadarisa Shabong Reckitt Plc said Wednesday that short-term sales of some of its Mead Johnson infant formula products are likely to be affected after a tornado hit a third-party warehouse in Indiana, causing extensive damage. The Mount Vernon warehouse, which is currently out of operation…
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With Trump VP pick J.D. Vance, Silicon Valley conservatives land a ‘tech bro’ on the ticket By Reuters
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By Alexandra Ulmer and Don Chmielewski MILWAUKEE (Reuters) – Donald Trump’s pick of J.D. Vance as his running mate raised hopes among Silicon Valley conservatives on Tuesday that they might benefit from having a fellow tech entrepreneur within reach of the White House for the first time. “We have a…
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UnitedHealth expects bigger hit to profit from tech unit hack By Reuters
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Written by Sriparna Roy, Mariam Sani and Amina Niasse (Reuters) – UnitedHealth Inc on Tuesday forecast a bigger hit to its annual profit from a February hack at its technology unit, but maintained its full-year earnings forecast. Shares of the Minnetonka, Minnesota-based company rose about 6% to $544.32 after it…