US FTC order bans Exxon Mobil, Pioneer Natural Resources deal
WASHINGTON (Reuters) - The Federal Trade Commission said on Thursday it prevented former Pioneer Natural Resources CEO Scott Sheffield from serving on Exxon Mobil's board of directors as it resolves antitrust concerns about Exxon's bid to buy the t...
1h ago
Aptiv to lower equity interest in joint venture with Hyundai, cuts FY sales view
(Reuters) -Auto parts supplier Aptiv Plc on Thursday cut its annual sales forecast and said it would reduce equity interest in its self-driving joint venture, Motional, with Hyundai Motor. Under the agreement, Aptiv will not be required to fund the joi...
1h ago
Kellanova posts upbeat Q1 results as demand held steady
(Reuters) - Pop-Tarts maker Kellanova beat Wall Street estimates for first-quarter sales and profit on Thursday, boosted by higher prices and firm demand for its breakfast cereals and ready-to-eat snacks. The Rice Krispies maker's shares were up ne...
1h ago
US productivity slows sharply in first quarter
WASHINGTON (Reuters) - U.S. worker productivity growth slowed sharply in the first quarter, resulting in a surge in labor costs, but the trend in productivity remained solid. Nonfarm productivity, which measures hourly output per worker, increased ...
1h ago
Vulcan beats profit estimates as price hikes offset bad weather impact
(Reuters) - Construction supplies maker Vulcan Materials reported first-quarter profit above Wall Street estimates on Thursday, as price hikes helped offset the impact of bad weather on demand for aggregates such as gravel, sand and crushed stone. ...
1h ago
Argentina budget cuts hitting nuclear energy ambitions, atomic body says
By Candelaria Grimberg and Horacio Soria BUENOS AIRES (Reuters) - Argentina's nuclear energy ambitions are coming under pressure from a tough austerity package and cost-cutting drive by libertarian President Javier Milei, the head of the National A...
1h ago
US trade deficit narrows slightly in March
WASHINGTON (Reuters) - The U.S. trade deficit narrowed slightly in March as a decline in imports was tempered somewhat by a plunge in exports. The trade deficit contracted 0.1% to $69.4 billion, the Commerce Department's Bureau of Economic Analysis...
1h ago
Quanta Services lifts annual forecasts on strong power demand
(Reuters) - Quanta Services raised its annual revenue and profit forecasts on Thursday, encouraged by strong demand for its construction and engineering services from the renewable energy and electric power industries. With companies increasingly t...
2h ago
NYSE-parent ICE's profit rises on record surge in energy market volatility
(Reuters) -Intercontinental Exchange reported a rise in adjusted profit for the first quarter on Thursday as volumes hit a record on surge in energy markets trading. The conflict in the Middle East has resulted in a reshaping of the global commodities ...
2h ago
WestRock beats quarterly profit estimates on rising prices
(Reuters) - WestRock beat quarterly profit expectations on Thursday, helped by higher prices, easing input costs and a recovery in demand for its paper packaging products, sending its shares up 6% premarket. The company, which is being acquired by ...
2h ago
OxiClean maker Church & Dwight boosts profit forecast on resilient demand
(Reuters) - Church & Dwight raised the lower end of its annual profit forecast and beat expectations for first-quarter results on Thursday, buoyed by resilient demand for its higher-priced fabric care and hygiene products in the U.S. and Europe. Ev...
2h ago
Kimco raises annual FFO forecast on strong leasing demand
(Reuters) - Real estate investment trust Kimco Realty raised its forecast for 2024 funds from operations on Thursday, banking on robust leasing demand at its open-air grocery-anchored shopping centers. Commercial real estate investment trusts such ...
2h ago
Military shipbuilder Huntington beats Q1 estimates on demand for aircraft carriers
(Reuters) - Huntington Ingalls reported a better-than-expected quarterly earnings on Thursday, on the back of demand for aircraft carriers, amphibious assault ships and submarines amid high geopolitical tension. WHY IT IS IMPORTANT Demand for subma...
2h ago
Moody's tops quarterly profit estimates on strong product demand
(Reuters) - Moody's on Thursday beat Wall Street estimates for first-quarter profit, helped by demand for its research and analytics products. The New York-based company recorded robust sales of its products including CreditView. WHY IT'S IMPORTANT...
2h ago
Greenback strength to persist on delayed Fed rate cut calls
By Sarupya Ganguly BENGALURU (Reuters) - A rallying U.S. dollar will stand resolute and may even trade more strongly than predicted in coming months if the policies of the Federal Reserve and other major central banks diverge, according to FX strat...
2h ago
Howmet Aerospace lifts dividend, annual forecasts on robust parts demand
(Reuters) - Howmet Aerospace on Thursday raised its full-year profit and revenue forecasts and said it would raise its quarterly dividend by two cents per share thanks to robust demand for its engine products and fastening systems. Shares of the Pe...
2h ago
US weekly jobless claims unchanged; layoffs decline in April
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits held steady at lower levels last week as the labor market remains fairly tight. Initial claims for state unemployment benefits were unchanged at a seasonally...
2h ago
Rising Swiss inflation will not derail rate cuts, economists say
ZURICH (Reuters) - Swiss annual inflation in April accelerated faster than expected, data from the Federal Statistics Office showed on Thursday, although economists said they still expected the Swiss National Bank to make further interest rate cuts...
2h ago
OPEC+ could extend oil cuts, formal talks yet to start, sources say
By Alex Lawler and Olesya Astakhova LONDON/MOSCOW (Reuters) - OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but three sources from OPEC+ producers said they cou...
2h ago
ConocoPhillips misses quarterly profit estimates
(Reuters) - U.S. oil and gas producer ConocoPhillips missed Wall Street estimates for first-quarter profit on Thursday, as demand concerns led to a sharp fall in natural gas prices. The Houston, Texas-based company posted adjusted earnings of $2.03...
2h ago
Peloton CEO McCarthy steps down, fitness equipment maker to cut 15% jobs
(Reuters) -Peloton CEO Barry McCarthy has stepped down, the company said on Thursday as it decided to cut 15% of its workforce to tackle a post-pandemic slump in demand for its connected fitness equipment. Shares of the beleaguered New York-based compa...
2h ago
BorgWarner raises full-year 2024 adjusted profit outlook
(Reuters) - Auto parts supplier BorgWarner raised its full-year adjusted profit outlook on Thursday, aided by sustained demand from its exhausts, turbos and emission control systems. BorgWarner, which supplies parts to Ford Motor and Volkswagen, de...
3h ago
Nigeria court adjourns Binance and execs trial to May 17
By Camillus Eboh ABUJA (Reuters) - A Nigerian court on Thursday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to May 17 after a lawyer for the exchange said he had not been served with document...
3h ago
Qualcomm jumps as AI sparks rebound in Chinese smartphone market
(Reuters) - Qualcomm shares rose 4% in premarket trading on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump. Sales to Chinese smartphone makers jumped 40% in the f...
3h ago
Futures climb as Fed allays rate-hike worries
(Reuters) - U.S. stock index futures advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and allayed fears around potential rate hikes, with focus moving to a spate of earnings updates through the day. While Fed chai...
4h ago