Russian think tank warns of stagnating industrial output, investment
By Darya Korsunskaya LONDON (Reuters) - Russia's industrial production and investments are stagnating, its exports of goods are continuing to deteriorate and profitability in most industries is declining, a think tank close to the government has sa...
18h ago
EU criticises Russia over control of German, Italian firms' units
(Reuters) -The European Union criticised Russia on Saturday for putting subsidiaries of one Italian and one German company under the "temporary external management" of a Gazprom entity, saying the move underscored Moscow's disregard for international n...
18h ago
BHP considering improved proposal for Anglo American after bid was rejected, source says
(Reuters) -BHP Group is considering making an improved proposal for Anglo American after its $39 billion initial offer was rejected by the London-listed miner, a source familiar with the matter told Reuters. BHP is in discussion for revised proposal fo...
19h ago
China's first-quarter industrial profits rise at slower pace
BEIJING (Reuters) - China's industrial profits posted smaller gains for the first quarter compared to the first two months, official data showed on Saturday, adding to evidence of an uneven recovery for the world's second-biggest economy. Profits a...
Apr 27, 2024
U.S. chip bans not meant to hobble China's growth, Blinken says
By Stephen Nellis (Reuters) - U.S. export controls on sending advanced computing chips to China are not meant to hold back China's economy or technological development, Secretary of State Antony Blinken said during an interview with National Public...
Apr 27, 2024
Apple renews talks with OpenAI for iPhone generative AI features, Bloomberg News reports
(Reuters) -Apple Inc has renewed discussions with OpenAI about using the startup's generative AI technology to power some new features being introduced in the iPhone later this year, Bloomberg News reported on Friday. The companies have begun discussin...
Apr 27, 2024
Google plans $3 billion data center investment in Indiana, Virginia
(Reuters) - Alphabet unit Google said on Friday it would invest $3 billion to set up a data center campus in Indiana and expand sites in Virginia. A boom in artificial intelligence applications has increased the demand for cloud computing, promptin...
Apr 26, 2024
US regulators seize troubled lender Republic First Bancorp
(Reuters) -U.S. regulators have seized Republic First Bancorp and agreed to sell it to another lender, the Federal Deposit Insurance Corp said on Friday. The FDIC has been appointed as receiver and has entered into an agreement with Fulton Bank, Nation...
Apr 26, 2024
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 ...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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 ...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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...
Apr 26, 2024
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. ...
Apr 26, 2024