NYCB's chief operating officer to step down
(Reuters) - Embattled lender New York Community Bancorp said on Thursday that its Chief Operating Officer Julie-Ann Signorille-Browne has resigned from her role, effective May 24. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak ...
10h ago
Morning Bid: Markets upbeat ahead of China data dump
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian markets go into Friday's session looking to end a strong week on a positive note, and there appears to be no obvious reason why the recent upswing should reverse unless i...
10h ago
Ford asks suppliers to cut costs in push to turn EV business profitable, memo says
By Abhirup Roy and Nora Eckert (Reuters) - Ford Motor Co has asked its electric-vehicle suppliers to reduce costs in an attempt to support profitability, saying "everything is on the table," according to a company memo seen by Reuters. Discounts an...
11h ago
Cannabis stocks rally after DOJ proposal to reclassify marijuana
NEW YORK (Reuters) - Cannabis stocks including Tilray, Curaleaf, and the AdvisorShares Pure US Cannabis ETF rallied on Thursday after the U.S. Department of Justice unveiled a historic proposal to ease restrictions on marijuana. Under the proposal,...
12h ago
JPMorgan investors weigh CEO Dimon's strategy, succession after record year
By Nupur Anand NEW YORK (Reuters) - With JPMorgan Chase coming off a year of record profits, investors are eager to learn about the firm's succession plans, investments in artificial intelligence and opportunities beyond traditional banking. Chief ...
12h ago
Dow tops 40,000, Biden trolls Trump in split-screen video
WASHINGTON (Reuters) - The Dow topped 40,000 for the first time on Thursday in an all-time high, giving U.S. President Joe Biden an opening to prove his Republican election rival's 2020 predictions wrong. The state of the U.S. economy looms as one ...
12h ago
China's BYD postpones plans for 2025 Chile lithium cathode plant
(This May 14 story is being republished with no changes to text) MEXICO CITY (Reuters) - Chinese carmaker BYD Co has postponed plans to produce lithium cathodes for electric vehicle (EV) batteries in Chile by 2025, the firm's Americas head told Reu...
13h ago
Analysis-Walmart's strong forecast signals a resilient consumer
By Siddharth Cavale and Aishwarya Venugopal (Reuters) - A positive forecast from retail bellwether Walmart on Thursday signaled a resilient U.S. shopper, in line with earlier remarks by one of its key suppliers and one of its retail rivals. America...
13h ago
Boeing supplier Spirit AeroSystems to lay off employees, spokesman says
(Reuters) - Spirit AeroSystems is laying off several hundred members of its workforce in Wichita, Kan., according to a media report Thursday citing internal documents, as the company deals with high debt and slowed production at Boeing, its key cus...
13h ago
Brazil's government hikes 2024 GDP forecast, sees higher inflation
BRASILIA (Reuters) - Brazil's Finance Ministry on Thursday hiked its projection for the country's economic growth this year but also raised inflation estimates for 2024 and 2025, underlining price impacts from recent floods in Rio Grande do Sul sta...
15h ago
Fed remains cautious on cuts even as data improves
By Howard Schneider WASHINGTON (Reuters) - Data this week offered the U.S. Federal Reserve good news on two fronts but policymakers haven't openly shifted views yet about the timing of rate cuts investors are convinced will start this year. Comment...
15h ago
Anglo American has sought fertiliser partners for months, says CEO
By Clara Denina and Felix Njini LONDON (Reuters) - Anglo American has been looking for partners for its fertiliser project in North Yorkshire for around six months, Chief Executive Duncan Wanblad told Reuters, reiterating the business will be one...
15h ago
IMF says US inflation data 'higher than we would like'
WASHINGTON (Reuters) - The International Monetary Fund on Thursday views recent U.S. inflation data as "overall higher than we would like to see" and is urging the Federal Reserve to stay cautious and remain data-dependent when deciding monetary po...
15h ago
US Supreme Court backs consumer finance watchdog agency's funding mechanism
By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Thursday upheld the Consumer Financial Protection Bureau's funding mechanism in a challenge brought by the payday loan industry, handing a victory to President Joe Biden's administration an...
15h ago
LATAM Airlines expands frequency of Brazil international flights; Air France adds route
By Gabriel Araujo SAO PAULO (Reuters) - LATAM Airlines will increase the frequency of seven of its international routes connecting Brazil to the United States and countries in Europe and Africa, it said on Thursday. The move by Chile-based LATAM, w...
15h ago
German experts lower their tax revenue forecasts for 2024-28
By Maria Martinez BERLIN (Reuters) - Germany's council of tax experts expects 80.7 billion euros ($87.7 billion) less in total tax revenue in the 2024-2028 period compared with its October forecast, projections on Thursday showed. For the federal ...
17h ago
Dow hits 40,000 on earnings boost, rate cut bets: Instant View
NEW YORK (Reuters - The Dow Jones Industrial Average surpassed 40,000 points for the first time on Thursday, the blue-chip index's fastest 10,000 point-climb, powered by strong quarterly results and rising bets of interest rate cuts by the Federal...
17h ago
Exclusive-Turkish vice president Yilmaz sees inflation reprieve, with full Erdogan backing
By Nevzat Devranoglu, Birsen Altayli and Jonathan Spicer ANKARA (Reuters) -Turkish Vice President Cevdet Yilmaz said he expects savings from the government's new efficiency plan to outstrip estimates as it continues the fight against inflation this sum...
17h ago
Exclusive-US to favor existing investors for Venezuela oil licenses, say sources
By Marianna Parraga and Daphne Psaledakis HOUSTON/WASHINGTON (Reuters) - The U.S. is preparing to prioritize issuing limited licenses to operate in Venezuela to companies with existing oil production and assets over those seeking to enter the sanct...
17h ago
FAA allows United Airlines to restart certification activities
(Reuters) - United Airlines said on Thursday the U.S. Federal Aviation Administration has permitted the carrier to restart its certification activities, including new aircraft and routes. The airline's certification activities were suspended after ...
17h ago
Adidas shareholders re-elect chairman Thomas Rabe
(Reuters) -A majority of Adidas shareholders backed the re-election of chairman Thomas Rabe at the company's annual general meeting on Thursday, securing his role for a fifth year, with the German sportswear brand set to appoint a successor in 2025. Pr...
17h ago
Goldman Sachs strikes deal to manage $43.4 billion UPS pension fund assets
(Reuters) -Goldman Sachs Asset Management has been appointed the outsourced chief investment officer for $43.4 billion North American pension fund assets belonging to parcel delivery firm UPS. As part of this appointment, the UPS in-house investment ma...
17h ago
US bars imports from 26 cotton manufacturers over Uyghur forced labor
WASHINGTON (Reuters) -The United States blocked imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labor of Uyghur minorities from the U.S. supply chain. The companie...
17h ago
Dow briefly sprints past 40,000-mark on earnings boost, rate-cut bets
(Reuters) - The Dow Jones Industrial Average briefly breached the 40,000-point level for the first time on Thursday, the blue-chip index's fastest 10,000-point climb, powered by strong quarterly results and rising bets of interest-rate cuts by the ...
17h ago
Labor Department accidentally released some inflation data early on Wednesday
(Reuters) - A subset of key and highly sensitive U.S. inflation data was inadvertently published about 30 minutes ahead of its scheduled release on Wednesday, the Bureau of Labor Statistics said, and a full investigation to the latest data-manageme...
18h ago