Expedia lowers full-year revenue forecast on slow B2C growth
(Reuters) - Online travel agency Expedia cut its 2024 revenue growth forecast on Thursday, as gross bookings were hit by poor performance in its business-to-consumer segment. Shares of the company were down about 8% after the bell. "Given the Vrbo ...
46m ago
Amgen first-quarter profit dips 1%, revenue rises 22%
By Deena Beasley (Reuters) - Amgen reported a slightly lower first-quarter profit on Thursday, citing higher operating and interest expense from its recent acquisition of rare disease drugmaker Horizon Therapeutics, partially offset by double-digit...
1h ago
Pakistan pushes back deadline for expressions of interest to buy national airline
ISLAMABAD (Reuters) - Pakistan will push back the deadline for companies to express interest in buying national carrier Pakistan International Airlines to May 18, the country's privatisation minister said on Thursday. The extension, announced in a ...
1h ago
Block's first-quarter profit jumps on resilient consumer spending
(Reuters) - Jack Dorsey-led Block posted a jump in first-quarter profit on Thursday as the payments firm benefited from resilient consumer spending and its own cost cuts. Adjusted net income rose to $542.9 million, or 85 cents per share, in the thr...
1h ago
MP Materials reports wider-than-expected Q1 loss on weak rare earth prices
(Reuters) -Rare earths miner MP Materials reported wider-than-expected loss in first quarter on Thursday, hurt by lower concentrate sales and weak prices for the strategic minerals. MP processes rock it extracts from its Mountain Pass mine in Californi...
1h ago
Citadel's flagship fund rose 2% in April, defying market turmoil
By Carolina Mandl NEW YORK (Reuters) - Citadel's flagship fund, Wellington, rose 2% in April, overcoming a month of pain for the S&P 500, a source familiar with the matter said. Sticky inflation data unveiled in April spread fears that the Federal ...
1h ago
EOG Resources beats first-quarter profit estimates
(Reuters) - EOG Resources beat first-quarter profit estimates on Thursday as the oil and gas firm benefited from higher oil production. The company reported an adjusted profit of $2.82 per share for the quarter ended March 31, compared with analyst...
1h ago
Coinbase posts soaring profit on jump in crypto prices
(Reuters) - Coinbase Global posted a sizable jump in profit in the first-quarter, helped by an uptick in cryptocurrency trading following the launch of the first U.S. spot bitcoin exchange-traded funds in January. The company on Thursday reported a...
2h ago
Exclusive-Glencore studying an approach for Anglo American, sources say
By Clara Denina, Pratima Desai and Felix Njini LONDON (Reuters) - Commodities group Glencore is studying an approach for Anglo American, two sources said, a development that could spark a bidding war for the 107-year old mining company. Glencore h...
2h ago
Rivian receives $827 million incentive package to expand Illinois facility
(Reuters) -Rivian Automotive said on Thursday it has received $827 million in incentives from the State of Illinois to expand operations at its Normal facility in the state. The company's shares rose nearly 7% in afternoon trade. It had said it would d...
4h ago
Many US telecom firms need more funding to replace Huawei and ZTE equipment, FCC says
WASHINGTON (Reuters) - The Federal Communications Commission (FCC) said on Thursday nearly 40% of U.S. telecom companies need additional government funding to remove equipment made by Chinese telecoms firms Huawei and ZTE from American wireless net...
4h ago
Weak US productivity could threaten Fed's 'soft landing' hopes
By Howard Schneider WASHINGTON (Reuters) - Weaker U.S. productivity gains in the first quarter may challenge the Federal Reserve's efforts to finish its inflation fight without a painful rise in unemployment, potentially stalling progress on prices...
5h ago
Heavy rains in big Brazil farm state disrupt soy, corn harvests in final stages
By Ana Mano and Roberto Samora SAO PAULO (Reuters) - Torrential rainfall in Brazil's second-largest soybean and sixth-largest corn state is disrupting the final stages of the harvest, according to a meteorologist's bulletin on Thursday, a grains br...
6h ago
Universal Music Group first-quarter core earnings beat forecast
(Reuters) - Universal Music Group on Thursday posted first-quarter adjusted core profit that beat expectations, helped by the success of its star Taylor Swift. The world's biggest music label posted adjusted core earnings (EBITDA) of 591 million eu...
6h ago
Boeing supplier Spirit AeroSystems sues to block Texas safety probe
By Mike Scarcella (Reuters) - Airline parts manufacturer Spirit AeroSystems has asked a U.S. judge to block a probe by Texas Attorney General Ken Paxton, calling the state's demand for internal documents and other information unreasonable and unlaw...
7h ago
Shell not looking at New York relisting at the moment, CEO says
LONDON (Reuters) - Shell is not actively looking at relisting in New York at the moment, and is focused on share repurchases, CEO Wael Sawan said on Thursday. Sawan said on a call with analysts that the company has a responsibility to look at all o...
7h ago
Goldman Sachs scraps EU-era bonus cap for top bankers in UK, source says
(Reuters) - Goldman Sachs has removed the cap on bonuses for its top bankers in the UK, according to a source familiar with the matter, months after the country axed the policy it had inherited from the European Union. The cap sprung from a 2014 mo...
7h ago
Exclusive-TOMS Capital Investment Management has taken stake in Kellanova, sources say
By Svea Herbst-Bayliss NEW YORK (Reuters) -Investment firm TOMS Capital Investment Management has taken a "significant" position in U.S. multinational food manufacturing company Kellanova and is engaging with the company, two sources familiar with the ...
7h ago
US law firm Mayer Brown to split from Hong Kong partnership
By Sara Merken (Reuters) - U.S. law firm Mayer Brown said on Thursday that it plans to separate from its current Hong Kong operations, as many international law firms rethink or reduce their presence in China. Chicago-founded, 1,800-lawyer Mayer Br...
7h ago
Exclusive-Russia is shipping oil to North Korea above UN mandated levels
By Steve Holland WASHINGTON (Reuters) - Russia has been quietly shipping refined petroleum to North Korea at levels that appear to violate the mandates of the United Nations Security Council, a U.S. official said on Thursday, adding the U.S. is pla...
7h ago
Cummins revenue misses estimates as truck demand stays on slow lane
(Reuters) - U.S. truck engine maker Cummins Inc missed Wall Street estimates for first-quarter sales on Thursday, dragged down by waning demand in China and weak freight activity. The company has struggled with a slow recovery in freight activity f...
8h ago
Commercial aircraft, motor vehicles lift US factory orders
WASHINGTON (Reuters) - New orders for U.S.-manufactured goods increased solidly in March, boosted by demand for commercial aircraft and motor vehicles, but gains elsewhere were moderate. Factory orders rose 1.6% after gaining 1.2% in February, the ...
8h ago
BoC says there's a limit to how far US and Canada rates can diverge
OTTAWA (Reuters) - There is a limit to how far U.S. and Canadian interest rates can diverge but "certainly we're not close to that limit", Bank of Canada Governor Tiff Macklem told the House of Commons finance committee on Thursday. Macklem reitera...
8h ago
Pinnacle West Capital posts Q1 profit on customer growth, new rates
(Reuters) - Pinnacle West Capital Corp posted a quarterly profit from year-ago loss on Thursday, on the back of customer growth, increased sales and new rates. Utility companies use General Rate Case (GRC) proceedings to increase consumer electrici...
8h ago
Xylem raises 2024 profit forecast on water treatment products demand
(Reuters) - Xylem raised its annual profit forecast on Thursday on the back of strong demand for its water and waste-water treatment products and services. The company now expects 2024 adjusted profit between $4.10 and $4.25 per share, compared wit...
8h ago