Category: Reuters
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US dockworkers strike, halting half the nation’s ocean shipping By Reuters
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By Doyinsola Oladipo and David Shepardson NEW YORK (Reuters) – Port workers on the U.S. East Coast and Gulf Coast began their first large-scale strike in nearly 50 years on Tuesday, halting the flow of about half the nation’s shipping, after negotiations for a new labor contract collapsed over wages.…
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US dockworkers strike, halting half the nation’s ocean shipping By Reuters
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By Doyinsola Oladipo and David Shepardson NEW YORK (Reuters) – Port workers on the U.S. East Coast and Gulf Coast began their first large-scale strike in nearly 50 years on Tuesday, halting the flow of about half the nation’s shipping, after negotiations for a new labor contract collapsed over wages.…
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Stocks fall, safe haven assets rally with oil as Iran fires on Israel By Reuters
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By Sinead Caro and Yoruk Bahçeli (Reuters) – The MSCI global stock index fell along with Treasury yields on Tuesday as investors shied away from riskier assets, while oil futures rose on concerns about supplies after Iran fired missiles at Israel. However, Wall Street stocks finished above session lows, and…
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Nike withdraws annual revenue forecast, shares drop 6% By Reuters
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(Reuters) – Nike pulled its annual revenue forecast on Tuesday and missed quarterly revenue estimates as the sportswear giant battles weak demand for shoes amid intense competition from newer brands globally, sending its shares down 6% after hours. It had previously forecast a mid-range percentage decline in annual revenue. The…
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Novo Nordisk has mitigation plans to minimize disruption from port strikes, CNBC reports By Reuters
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(Reuters) – Danish drugmaker Novo Nordisk (NYSE:) has mitigation plans to reduce or prevent any interruptions in its production due to U.S. seaport strikes, CNBC reported on Tuesday, citing a company spokesperson. The report added that the famous pharmaceutical manufacturers, Wegovy and Ozempic, are planning to ship their products to…
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US job openings rebound in August; hiring remains sluggish By Reuters
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Written by Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings unexpectedly increased in August after consecutive monthly declines, but hiring was weak and consistent with a labor market slowdown that keeps the Federal Reserve on track to cut interest rates again in November. . The Labor Department’s Job Opportunities and…
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European automakers most at risk from US dockworkers strike, analysts say By Reuters
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DETROIT (Reuters) – European automakers are likely affected by strikes by dockworkers at U.S. East Coast and Gulf Coast ports because they rely heavily on those sites, but a longer strike could impact the industry more broadly if suppliers suffer, analysts said. Dockworkers began their first large-scale strike in nearly…
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Health insurers unveil Medicare Advantage plans for 2025 By Reuters
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(Reuters) – CVS Health (NYSE:) and Cigna (NYSE:) on Tuesday released details on next year’s government-backed health insurance plans for people 65 and older, saying some members will pay a $0 monthly premium for drugs. described. These announcements come ahead of the start of enrollment in Medicare Advantage plans on…
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Analysis-Global investors gear up to go back into China By Reuters
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Written by Naomi Rovnick LONDON (Reuters) – Global investors are preparing to bet on China again, in a major shift in sentiment sparked by Beijing’s quest to reverse an economic slowdown and revive long-term interest in its stock markets. It’s early days, and few money managers expect a Chinese growth…
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Dollar sturdy after Powell pushes back on aggressive easing bets By Reuters
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Written by Kevin Buckland and Brigid Riley TOKYO (Reuters) – The U.S. dollar rose against its major counterparts on Tuesday after Federal Reserve Chairman Jerome Powell backed off bets on further deep interest rate cuts. The yen stabilized near the middle of its range against the dollar over the past…
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Japan’s business mood steady in July-Sept, keeps BOJ rate hike chance alive By Reuters
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Written by Makiko Yamazaki and Laika Kihara TOKYO (Reuters) – Japanese business sentiment stabilized in the three months through September, a closely watched survey showed, a sign that the economy remains on track toward a moderate recovery that leaves room for the central bank to raise interest rates further. But…
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Amazon wins partial dismissal of US antitrust lawsuit By Reuters
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Written by Judy Godoy (Reuters) – Amazon.com Inc has won the partial dismissal of a lawsuit filed by the U.S. Federal Trade Commission accusing it of maintaining illegal monopolies, although details of the ruling issued by a federal court in Seattle on Monday were not immediately clear. The Federal Trade…
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Amazon wins partial dismissal of US antitrust lawsuit By Reuters
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Written by Judy Godoy (Reuters) – Amazon.com Inc has won the partial dismissal of a lawsuit filed by the U.S. Federal Trade Commission accusing it of maintaining illegal monopolies, although details of the ruling issued by a federal court in Seattle on Monday were not immediately clear. The Federal Trade…
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Republican Party’s top bank, Chain Bridge, aims for $167 million valuation in US IPO By Reuters
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Written by Niket Nishant and Manya Saini (Reuters) – Series Bridge Bancorp (NASDAQ:), a bank that has been popular among Republicans since its inception, is targeting a valuation of up to $167 million in its US initial public offering. The IPO, which is relatively uncommon in the banking sector, comes…
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Stellantis recalls 194,000 Jeep plug-in hybrids over fire risks By Reuters
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WASHINGTON (Reuters) – Stellantis (NYSE:) said on Monday it was recalling 194,000 Jeep hybrid electric SUVs to address fire risks after 13 fires were reported, and asked owners to park their vehicles outside and away from other vehicles until repairs to the recall are completed. . . The Italian-American automaker…
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California enacts car data privacy law to curb domestic violence By Reuters
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Written by Dan Levin and Christina Cook (Reuters) – California Governor Gavin Newsom signed a bill requiring automakers that sell connected cars to do more to protect survivors of domestic violence, a move that could expand those safeguards across the country. As automakers add ever more sophisticated technology to their…
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US sets new rule that could spur AI chip shipments to the Middle East By Reuters
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Written by Karen Freifeld WASHINGTON (Reuters) – The U.S. Commerce Department on Monday unveiled a rule that could facilitate shipments of artificial intelligence chips to data centers in the Middle East. Since October 2023, US exporters have been required to obtain licenses before shipping advanced chips to parts of the…
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Aston Martin drops 28% after profit warning on supply chain, China woes By Reuters
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Written by Yadarissa Shabong (Reuters) – Aston Martin warned of falling annual profits and cut its production forecast on Monday due to supply chain challenges and persistent weakness in China, sending shares down as much as 28% and raising questions about its future ambitions. The British luxury carmaker joined other…
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Strong Thai baht hitting exporters and tourism, says central bank By Reuters
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BANGKOK (Reuters) – The rapid rise in the value of the Thai baht is affecting exporters and tourist spending, the Thai central bank said on Monday, adding that the currency was rising due to a weak dollar against strong regional currencies such as the yuan and yen. The baht hit…