Planemaker Embraer CEO says supply chain has been improving
By Gabriel Araujo SAO JOSE DOS CAMPOS (Reuters) - The chief executive of Brazil's Embraer said on Friday that supply chain issues impacting planemakers have been improving but some challenges remain. Francisco Gomes Neto told reporters at an event ...
9h ago
L3Harris cuts 5% workforce in cost-saving measure
(Reuters) - U.S. defense contractor L3Harris cut 5% of its workforce earlier this month in a bid to streamline its business and save costs, CEO Chris Kubasik said in a post-earnings conference call on Friday. The announcement confirms a Reuters rep...
9h ago
Deutsche Bank to make provision for Postbank suit that will hit Q2 profit
BERLIN (Reuters) - Deutsche Bank AG said a court ruling in a years-long litigation over its takeover of Postbank will require it to make a legal provision that will impact its second quarter and full-year profitability. Germany's flagship lender sa...
9h ago
S&P 500 Q1 earnings estimated growth improves; stocks up for week
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. first-quarter estimated earnings growth is looking stronger at nearly the halfway mark of the reporting period, with corporate results giving a boost to stocks this week after recent weakness. S&P ...
11h ago
Tesla to lay off 693 employees in Nevada, government notice says
SAN FRANCISCO (Reuters) -Tesla plans to lay off 693 employees at its facilities in Sparks, Nevada, a government notice showed, as part of its plan to cut more than 10% of its global workforce amid dropping sales and rising competition. The notice was s...
11h ago
Lofty US stocks leave investors punishing earnings disappointments
By Lewis Krauskopf NEW YORK (Reuters) - Richly valued U.S. stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report. Strong reports fr...
11h ago
American Airlines to adjust routes amid Boeing 787 delivery delays
(Reuters) - American Airlines will be making adjustments to certain routes in the second half of 2024 and the first quarter of 2025, the carrier said on Friday, citing ongoing Boeing 787 delivery delays. "We're making these adjustments now to ensur...
11h ago
Fitch downgrades Boeing's outlook to 'negative' on production, cashflow challenges
Fitch Ratings downgraded outlook on Boeing to "negative" from "stable" on Friday, amid a fallout from safety crisis impacting the U.S. planemaker's production and cashflow. The ratings agency, which reaffirmed its "BBB-" long-term issuer default rating...
11h ago
US Homeland Security names AI safety, security advisory board
By David Shepardson WASHINGTON (Reuters) - The U.S. Homeland Security Department (DHS) on Friday announced a blue-ribbon board that includes the CEOs of OpenAI, Microsoft, Google parent Alphabet and Nvidia that will advise the government on the rol...
11h ago
Google files motion for summary judgment in U.S. ad tech case
WASHINGTON (Reuters) - Alphabet Inc's Google on Friday asked a federal court in Virginia to reject a U.S. government lawsuit accusing the advertising and search company of anticompetitive practices in the online advertising marketplace. (Reporting...
11h ago
Boeing, GKN Aerospace close deal for St. Louis site
(Reuters) - Boeing said on Friday that it has closed a deal with aero supplier GKN Aerospace and its parent company Melrose Industries for a plant in St. Louis. The deal immediately transitions GKN's St. Louis site's operations in support of F/A-18...
12h ago
How Trump could influence the makeup of the Fed
(Reuters) - Donald Trump's allies are reported to be drafting proposals to erode the Federal Reserve's independence if the presumptive Republican presidential nominee regains the White House, with installing loyalists at the central bank as a key e...
12h ago
CVS Omnicare staff in Las Vegas vote to join new union
(Reuters) - Staff at CVS Health's unit Omnicare in Las Vegas voted to join the Pharmacy Guild, becoming the first location at the national pharmacy chain to join the union. About 87% of workers at CVS Omnicare, a provider of pharmacy services to lo...
12h ago
U.S. Treasury refunding set to offer relief from supply rises
By Karen Brettell NEW YORK (Reuters) - The U.S. Treasury Department is expected to offer markets some relief next week when it details refunding plans for the coming quarter, by keeping the size of most of its auctions steady after three quarters o...
13h ago
Exclusive-General Mills explores sale of $2 billion-plus yogurt business in North America, sources say
By Abigail Summerville NEW YORK (Reuters) - General Mills, the maker of Cocoa Puffs and Cheerios breakfast cereals, is exploring a sale of its North America yogurt business including its popular Yoplait brand in a deal that could be worth more than...
13h ago
Foreign automakers eager for Chinese partners at Beijing auto show
By Daniel Leussink and Sarah Wu BEIJING (Reuters) - Global automakers including Volkswagen and Toyota came to this year's Beijing auto show looking to catch up to surging China EV makers that are dominating the world's largest auto market. The show...
13h ago
Warren Buffett's real estate brokerage reaches $250 million antitrust settlement
By Jonathan Stempel (Reuters) - A real estate brokerage owned by Warren Buffett's Berkshire Hathaway said on Friday it reached a $250 million settlement of nationwide antitrust litigation that is expected to change how real estate agents are paid. ...
13h ago
Earnings for Big Oil backpaddle as natgas prices tumble
By Sabrina Valle HOUSTON (Reuters) - U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. In the U.S., Exxon Mobil missed Wall Street earnings targets o...
13h ago
'End of oil not in sight', OPEC Secretary General says in MEES article
LONDON (Reuters) - The end of oil is not in sight, OPEC's top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting emissions not oil use. In an op-ed ar...
13h ago
Two senators want US to order Tesla to restrict Autopilot use
WASHINGTON (Reuters) - Two U.S. senators on Friday urged regulators to bar Tesla from allowing the use of driver assistance system Autopilot on roads where it is not intended. Democratic Senators Ed Markey and Richard Blumenthal said the National H...
13h ago
US Labor Department corrects productivity data
WASHINGTON (Reuters) - The U.S. Labor Department said on Friday it had corrected productivity data going back to 2019 after a computation error in off the clock hours worked ratios biased downward the labor hours levels underlying the productivity ...
13h ago
Column-US bond price slide puts buyers to the test: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) - The latest figures showing the surprising - some would say alarming - durability of U.S. inflation are also re-focusing the spotlight on the source and strength of demand for U.S. Treasuries. Bonds are...
14h ago
Porsche AG posts Q1 profit drop on ramp-up costs
FRANKFURT (Reuters) -Porsche on Friday reported a 30% drop in first-quarter operating profit, citing higher investments in what the German luxury carmaker has called its biggest year of product launches in history. Operating profit in the first three m...
14h ago
General Motors to shut manufacturing operations in Colombia, Ecuador -statement
BOGOTA (Reuters) -Car maker General Motors will close its manufacturing operations in Colombia and Ecuador, the company said in a statement on Friday, as part of its shift towards producing next-generation vehicles. Manufacturing will cease at company'...
14h ago
Starbucks and US workers' union meet for contract negotiations
(Reuters) - Starbucks held contract negotiations with the Workers United union over a two-day session in Atlanta, both the parties said on Friday, with plans to meet again in late May. The coffee chain and Workers United, that represents Starbucks ...
14h ago