Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows
(Reuters) - Reddit co-founder and CEO Steve Huffman beneficially owns 62.4 million Class A shares of the social media company, a regulatory filing showed on Friday. Those shares were equivalent to 61.5% of the share class, based on a calculation th...
15h ago
China's Zeekr plans to raise up to $368 million in US IPO
(Reuters) -China-based electric vehicle brand Zeekr Intelligent Technology Holding said on Friday it was aiming to raise $367.5 million in its U.S. initial public offering. The company is looking to offer 17.5 million American depositary shares (ADSs) ...
16h ago
Exxon to take up to two years to hit stride with Pioneer purchase
By Sabrina Valle HOUSTON (Reuters) - Exxon Mobil will take 18 to 24 months to achieve its desired production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company's top shale executive said on Fri...
17h ago
US small caps struggle as elevated interest rates take a toll
By David Randall NEW YORK (Reuters) - The prospect of interest rates remaining elevated as the Federal Reserve battles inflation is further clouding the outlook for shares of smaller U.S. companies, which have lagged broader markets this year. Smal...
19h ago
Stablecoin Tether steps up monitoring in bid to combat illicit finance
By Elizabeth Howcroft LONDON (Reuters) - The world's largest stablecoin, Tether, has stepped up monitoring of how its tokens are used in broader crypto markets and payments in a bid to combat illicit finance, Tether said in a statement on Thursday....
19h ago
Exclusive-Southwest pilots face reduced hours, pay due to Boeing delivery delays
By Rajesh Kumar Singh CHICAGO (Reuters) - Southwest Airlines plans to offer its pilots reduced hours and, in effect, monthly pay, two people familiar with the matter said, as it grapples with higher costs and overstaffing due to delays in aircraft ...
19h ago
LNG producer Cheniere's export volumes fuel core profit beat
(Reuters) -Top U.S. liquefied natural gas producer Cheniere Energy beat adjusted core profit estimates on Friday, as higher-than-expected export volumes countered lower natural gas prices. The U.S. emerged as the top LNG exporter in 2023 as buyers scra...
21h ago
Tesla vs Tesla: US carmaker sues Indian namesake for copying trademark
By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) - Elon Musk's carmaker Tesla has sued an Indian battery maker for infringing its trademark by using the brand name "Tesla Power" to promote its products, seeking damages and a permanent inju...
21h ago
Weaker US jobs data brings some relief to Fed
By Howard Schneider and Lindsay Dunsmuir (Reuters) - Federal Reserve officials, buffeted in recent months by concerns the economy might again overheat, got relief on Friday when jobs data for April showed a marked cooling in wage growth and a pace ...
21h ago
Google faces second day of closing arguments in US antitrust trial
By Mike Scarcella WASHINGTON (Reuters) - The U.S. government will lay out its antitrust case against Alphabet's Google on Friday in a second day of closing arguments focused on accusations that the online search leader broke the law to stay on top ...
21h ago
Brazil economists split over size of likely rate cut on May 8: Reuters poll
By Luana Maria Benedito and Gabriel Burin SAO PAULO/BUENOS AIRES (Reuters) - Economists are unusually split over the size of a likely Brazil interest rate reduction on May 8, a Reuters poll found, amid changing views about the future path of U.S. m...
22h ago
Fed's Bowman supports current policy stance but still sees inflation risks
(Reuters) - Inflation should continue to decline even as the U.S. central bank holds its benchmark interest rate steady at current levels, Federal Reserve Governor Michelle Bowman said on Friday while also reiterating her willingness to raise the p...
23h ago
US equity funds witness outflows for fifth week in a row
(Reuters) - U.S. investors were net sellers of equity funds for a fifth successive week in the seven days to May 1, exercising caution ahead of the Federal Reserve's policy decision and scaling back expectations for interest rate cuts that were pre...
May 03, 2024
Exxon Mobil completes $60 billion deal for Pioneer Natural
(Reuters) - Exxon Mobil has closed its $60 billion purchase of Pioneer Natural Resources, the oil and gas producer said on Friday, a day after receiving a go-head from the U.S. Federal Trade Commission (FTC) for the deal. (Reporting by Arunima Kum...
May 03, 2024
April US jobs report shows looser labor market, good news for Fed
(Reuters) -U.S. job growth slowed more than expected in April and annual wage gains cooled, signs of a looser labor market which are good news for markets and the Federal Reserve that will likely require more such signals before pivoting from a higher ...
May 03, 2024
US FTC seeks more information on Novo Nordisk parent-Catalent deal
(Reuters) - The U.S. Federal Trade Commission has sought additional information about a $16.5 billion deal by Novo Nordisk's parent to buy manufacturing subcontractor Catalent. The deal was announced in February and Novo Nordisk Foundation has sinc...
May 03, 2024
Cboe posts higher first-quarter profit on robust options trading
(Reuters) -Cboe Global Markets reported a rise in first-quarter profit on Friday, as strong demand for hedging products amid market volatility helped boost the exchange operator's options trading volumes. Geopolitical risks and macroeconomic uncertaint...
May 03, 2024
Apple shares jump as record buyback, sales growth forecast lure investors
By Aditya Soni (Reuters) - Apple shares jumped nearly 6% before the bell on Friday as the iPhone maker's record stock buyback plan and promise of sales growth drew back investors who have shunned the stock on concerns over weak demand and increased...
May 03, 2024
Analysis-Warren Buffett's PacifiCorp utility singed by wildfires
By Jonathan Stempel OMAHA, Nebraska (Reuters) - Two years ago, Warren Buffett branded Berkshire Hathaway's energy business one of his conglomerate's four "giants." Now he fears its business model may be broken. Berkshire Hathaway Energy's PacifiCor...
May 03, 2024
Hong Kong March retail sales down 7%, snapping 15 months of growth
HONG KONG (Reuters) - Hong Kong's March retail sales fell 7% from a year earlier, partly due to a high base of comparison for visitor spending and the Easter holidays, government data showed on Friday. Sales decreased to HK$31.2 billion ($3.99 bil...
May 03, 2024
US ends probe into Tesla Model X, S over loss of rear-view camera
(Reuters) -The U.S. National Highway Traffic Safety Administration said on Friday it has closed an engineering analysis opened to investigate the loss of rear-view cameras in about 158,716 Tesla's Model X and Model S vehicles. The safety regulator said...
May 03, 2024
Futures rise on Apple, Amgen boost; jobs data on tap
(Reuters) - U.S. stock index futures gained on Friday, lifted by upbeat corporate updates from Apple and Amgen, while traders braced for a key jobs report for a clearer outlook on the labor market and the interest rate path. Apple jumped 5.8%, outp...
May 03, 2024
Amgen shares jump after teasing 'encouraging' weight loss data
(Reuters) - U.S. drugmaker Amgen's shares jumped 13% to $316.26 premarket on Friday as the company teased encouraging data for its experimental obesity drug, igniting investor hopes but leaving Wall Street frustrated over a lack of details. Amgen, ...
May 03, 2024
Toronto home sales fall for third month in April; prices rise
OTTAWA (Reuters) - Greater Toronto area home sales fell in April for a third straight month and prices crept up, as over two-decade high interest rates kept the lid on housing market recovery in Canada's main metropolitan region, data showed on Thu...
May 03, 2024
Sony and Apollo submit $26 billion Paramount offer, WSJ reports
(Reuters) - Sony Pictures Entertainment (SPE) and Apollo Global Management have made a $26 billion cash offer for Paramount Global, the Wall Street Journal reported. The two companies submitted the non-binding offer letter on Wednesday, signed by S...
May 03, 2024