Saudi Arabia's non-oil business activity growth steady in April-PMI
DUBAI (Reuters) - Saudi Arabia's non-oil business activity grew at a steady rate in April despite a slowdown in new order growth, a survey showed on Sunday, with domestic demand driving output. The seasonally-adjusted Riyad Bank Saudi Arabia Purcha...
8h ago
United Auto Workers ratify contract with Daimler Truck
(Reuters) - Members of the United Auto Workers on Saturday ratified a new labor contract with Daimler Truck, the union said in a statement. The vote was 94.5% in favor of the new contract, which covers more than 7,300 hourly UAW workers and was agr...
14h ago
Paramount bidders await word from special committee evaluating options
By Dawn Chmielewski (Reuters) - A special committee of the Paramount Global board charged with evaluating offers for the company met Saturday morning, though rival bidders for the studio are awaiting word on next steps. Paramount ended its exclusiv...
15h ago
WestJet issues 72-hour lockout notification to its tech ops union AMFA
(Reuters) - Onex Corp's WestJet on Saturday said that it has issued a 72-hour lockout notification to its technical operations union Aircraft Mechanics Fraternal Association (AMFA). The company said that a work stoppage could occur as early as May...
16h ago
Berkshire shareholders reject climate, diversity, China proposals
By Jonathan Stempel OMAHA, Nebraska (Reuters) - Berkshire Hathaway Inc shareholders on Saturday overwhelmingly rejected six proposals addressing environmental and social policy issues at Warren Buffett's conglomerate, all of which the billionaire i...
17h ago
Warren Buffett says Berkshire sold entire Paramount holdings at a loss
NEW YORK (Reuters) - Warren Buffett said on Saturday Berkshire Hathaway sold its entire holding in Paramount at a loss, a decision he said was his sole responsibility. "It was 100% my decision and we've sold it all and we lost quite a bit of money,...
19h ago
Warren Buffett says taxes may rise to offset widening US deficits
NEW YORK (Reuters) - Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending. "I think higher taxes are likely," he said on Saturday at Berkshire Hathaway's annual sharehol...
19h ago
Ping An votes against reappointment of HSBC CEO as director, Bloomberg News reports
(Reuters) - HSBC Holdings Plc's biggest Asian investor, China's Ping An Insurance Group Co, voted against the reappointment of departing chief executive Noel Quinn as a director at the bank's shareholder meeting, Bloomberg News reported on Saturday...
19h ago
Buffett talks succession and Berkshire's future at annual meeting
(Reuters) - Warren Buffett took the stage at Berkshire Hathaway's annual meeting on Saturday, paying tribute to his longtime business partner Charlie Munger, outlining the expanded roles of the executives who are designated to eventually succeed hi...
20h ago
Berkshire exec calls wildfire claims against utility 'unfounded'
NEW YORK (Reuters) - Berkshire Hathaway, the conglomerate led by Warren Buffett, will fight all lawsuits brought against its utility business due to wildfires as the cases are "unfounded," a top executive said on Saturday. Greg Abel, who is widely ...
22h ago
Berkshire has record profit, cash soars to $189 billion as Apple stake sinks
OMAHA, Neb. (Reuters) - Berkshire Hathaway Inc posted a record quarterly profit on Saturday, boosted by strength in its insurance operations, and appears to have sold a significant number of Apple shares as its cash stake swelled to $189 billion. T...
May 04, 2024
Berkshire shareholders descend on Omaha as annual meeting kicks off
By Jonathan Stempel and Koh Gui Qing OMAHA, Nebraska (Reuters) - Warren Buffett will take center stage at Berkshire Hathaway's annual meeting on Saturday, as shareholders descend on to watch the famed investor as well as his expected successor. The...
May 04, 2024
Fed's Williams: Inflation target 'critical' for achieving stable prices
PALO ALTO, California (Reuters) - New York Federal Reserve Bank President John Williams on Friday said he believes the U.S. central bank's 2% target for inflation is "critical" to its efforts to achieve price stability. "Theory and experience have ...
May 04, 2024
Fed's Goolsbee: US rate-path 'dot plot' needs more context
PALO ALTO, California (Reuters) - The U.S. Federal Reserve should beef up its quarterly "dot plot" of policymakers' interest-rate-path views by including the individual economic expectations that inform each one, Austan Goolsbee, president of the C...
May 03, 2024
Paramount will let exclusive talks with Skydance lapse, NYT reports
(Reuters) -Paramount Global Friday will end its exclusive negotiations with Skydance Media without reaching a deal, the New York Times reported on Friday, citing people familiar with the matter. Shares of the media giant rose 3% in extended trading. A ...
May 03, 2024
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...
May 03, 2024
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) ...
May 03, 2024
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...
May 03, 2024
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...
May 03, 2024
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....
May 03, 2024
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 ...
May 03, 2024
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...
May 03, 2024
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...
May 03, 2024
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 ...
May 03, 2024
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 ...
May 03, 2024