Lyft forecasts strong quarterly earnings as ride-hailing demand picks up
By Yuvraj Malik (Reuters) - Ride-hailing company Lyft projected higher-than-expected gross bookings and core profit for the current quarter on Tuesday, driven by robust demand for its services and benefits from new user and driver features. Lyft ha...
2h ago
Reddit predicts surprise core profit in second quarter, shares surge
(Reuters) -Reddit predicted that it could post an adjusted core profit in the second quarter on the back of strong user growth and an uptick in the advertising market, sending its shares up more than 16% in extended trading on Tuesday. The forecast con...
2h ago
US probe finds widespread sexual misconduct at FDIC
By Douglas Gillison and Pete Schroeder WASHINGTON (Reuters) -The Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and other misconduct, according to a damning independent report released on Tuesda...
3h ago
Exclusive-Royal Caribbean recruiting thousands to meet surging demand, sources say
By Doyinsola Oladipo NEW YORK (Reuters) - Cruise operator Royal Caribbean Group is in discussions with new and existing markets around the world to recruit thousands of workers to staff its ships and private destinations to keep up with record crui...
3h ago
US revokes some export licenses for China's Huawei
WASHINGTON (Reuters) -The U.S. on Tuesday said it revoked some licenses that allow companies to ship goods, such as chips, to the sanctioned Chinese mobile phone and laptop maker Huawei Technologies. The move comes after the release last month of Huawe...
3h ago
Amazon unveils first electric seaport trucks amid push to slash tailpipe emissions
By Lisa Baertlein LOS ANGELES (Reuters) - Amazon.com on Tuesday will unveil the first of a dozen Volvo electric big rigs it plans to deploy this year to pick up cargo from the nation's busiest container seaport in southern California. The e-commerc...
4h ago
US utility Sempra's profit falls 17% in first quarter
(Reuters) - U.S. power and gas utility Sempra posted a 17% drop in its first-quarter profit on Tuesday, impacted by lower earnings at two of its units. Sempra, which caters to nearly 40 million customers in areas including California, Texas and Mex...
4h ago
Banned Chinese cotton found in 19% of US retailers' merchandise, study shows
By Arriana McLymore NEW YORK (Reuters) - Traces of banned Chinese cotton were found in 19% of a sample of merchandise selling at U.S. retailers in the past year, a study showed, highlighting the challenges of complying with the U.S. law aimed at bl...
5h ago
Fed's Kashkari cites high risk inflation is "settling"
By Howard Schneider WASHINGTON (Reuters) - The strength of the U.S. housing market and potentially stalled progress on inflation means monetary policy may not be as tight as Federal Reserve officials think it is, Minneapolis Federal Reserve Preside...
5h ago
Fed may need to hold rates steady all year, Kashkari says
(Reuters) - Stalled inflation buoyed in part by housing market strength means the Federal Reserve will need to hold borrowing costs steady for an "extended period," and possibly all year, Minneapolis Federal Reserve President Neel Kashkari said on ...
5h ago
TikTok, ByteDance sue to block US law seeking sale or ban of app
By David Shepardson WASHINGTON (Reuters) -TikTok and its Chinese parent company ByteDance sued in U.S. federal court on Tuesday seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 mil...
6h ago
Column-Fragile Treasuries relying on rare macro serenity: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) - Any hope of sustaining U.S. fiscal accounts at such stretched levels and keeping the fragile bond market equilibrium intact may have to hinge on avoiding any recession at all - a cycle-busting scenario...
7h ago
Chile central bank says economy recovering but some sectors lag
By Natalia A. Ramos Miranda SANTIAGO (Reuters) - Chile's central bank said in a report on Tuesday that the economy is broadly recovering, though some sectors have lagged and financial market depth has not yet returned to levels seen before the coro...
8h ago
Inflation-hit Argentina launches new top banknote, worth just $10
(Reuters) - Argentina has a new largest banknote, the 10,000 peso, which is five times the size of the previous top bill but still only worth around $10 as the South American country grapples with the world's highest inflation rate that is nearing ...
8h ago
Apple expected to show new iPads and possibly a new chip
By Stephen Nellis (Reuters) - Apple plans to hold a virtual event on Tuesday where it is expected to show new iPad models, some of which could come with a new chip aimed at speeding up artificial intelligence tasks carried out on the devices. Its l...
8h ago
CICC, Citic, JPMorgan cut investment banking jobs in China as deals stall
HONG KONG (Reuters) -Two Chinese companies and JPMorgan have become the latest banking groups to cut jobs in China as a slow recovery in listing and dealmaking activities force them to ramp up cost controls, six sources with knowledge of the matter sai...
9h ago
US power and natgas prices turn negative in Texas, California and Arizona
By Scott DiSavino (Reuters) - U.S. spot power and natural gas prices turned negative in Texas, California and Arizona for Tuesday as pipeline maintenance trapped gas in the Permian Shale in West Texas amid low demand for energy and ample hydropower...
9h ago
Goldman Sachs names former Fed Dallas chief Kaplan as vice chairman
By Saeed Azhar NEW YORK (Reuters) - Goldman Sachs said on Tuesday it had appointed Robert Kaplan, the former president of the Federal Reserve of Dallas, as its vice chairman, bringing an influential banker on to its management committee. Kaplan wil...
9h ago
Australian budget to target housing woes with more construction workers
SYDNEY (Reuters) - The Australian government will boost the number of skilled workers in the housing sector in next week's national budget, spending A$90.6 million ($59.76 million) on free training and making it easier for skilled construction work...
9h ago
Froot Loops maker WK Kellogg beats revenue estimates on higher prices
(Reuters) - WK Kellogg Co beat Wall Street estimates for quarterly sales on Tuesday, as higher product prices offset pressure from slowing demand for the Froot Loops maker's ready-to-eat breakfast items and snacks. Like other major brands in the pa...
9h ago
S&P 500, Dow futures inch higher ahead of Walt Disney results
(Reuters) - Futures tracking the S&P 500 and Dow edged higher on Tuesday, ahead of quarterly results from Walt Disney, while expectations of the Federal Reserve's interest rate cuts this year helped support market sentiments. The three main U.S. st...
10h ago
Ferrari's core earnings rose in Q1, sticks to FY guidance
MILAN (Reuters) - Ferrari said on Tuesday its core earnings rose 13% in the first quarter of the year as the luxury sports car maker was supported by pricing power and product mix, as well as by a greater contribution from personalisation. The Ital...
10h ago
Spirit Aero burns more cash as 737 output drops
(Reuters) -Spirit AeroSystems reported a higher first-quarter cash burn on Tuesday, squeezed by lower 737 production at the aerospace supplier's biggest customer, Boeing. Cash burn was $444 million for the three months ended March 28, compared with $69...
10h ago
Brazil's Embraer reports smaller adjusted net loss in Q1
SAO PAULO (Reuters) -Brazilian planemaker Embraer reported on Tuesday an adjusted net loss of 63.5 million reais ($12.51 million) for the first quarter, less than the 460.5 million-real loss it posted a year earlier, according to a securities filing. T...
10h ago
Mexico's auto production, exports jump in April
(Reuters) - Mexico's automotive industry saw a jump in production in April while exports also increased from a year earlier, data from national statistics agency INEGI showed on Tuesday. Production increased by 21.74% to 358,575 vehicles and auto e...
10h ago