Goldman Sachs scraps EU-era bonus cap for top bankers in UK, source says
(Reuters) - Goldman Sachs has removed the cap on bonuses for its top bankers in the UK, according to a source familiar with the matter, months after the country axed the policy it had inherited from the European Union. The cap sprung from a 2014 mo...
2h ago
Exclusive-TOMS Capital Investment Management has taken stake in Kellanova, sources say
By Svea Herbst-Bayliss NEW YORK (Reuters) -Investment firm TOMS Capital Investment Management has taken a "significant" position in U.S. multinational food manufacturing company Kellanova and is engaging with the company, two sources familiar with the ...
2h ago
US law firm Mayer Brown to split from Hong Kong partnership
By Sara Merken (Reuters) - U.S. law firm Mayer Brown said on Thursday that it plans to separate from its current Hong Kong operations, as many international law firms rethink or reduce their presence in China. Chicago-founded, 1,800-lawyer Mayer Br...
2h ago
Exclusive-Russia is shipping oil to North Korea above UN mandated levels
By Steve Holland WASHINGTON (Reuters) - Russia has been quietly shipping refined petroleum to North Korea at levels that appear to violate the mandates of the United Nations Security Council, a U.S. official said on Thursday, adding the U.S. is pla...
2h ago
Cummins revenue misses estimates as truck demand stays on slow lane
(Reuters) - U.S. truck engine maker Cummins Inc missed Wall Street estimates for first-quarter sales on Thursday, dragged down by waning demand in China and weak freight activity. The company has struggled with a slow recovery in freight activity f...
3h ago
Commercial aircraft, motor vehicles lift US factory orders
WASHINGTON (Reuters) - New orders for U.S.-manufactured goods increased solidly in March, boosted by demand for commercial aircraft and motor vehicles, but gains elsewhere were moderate. Factory orders rose 1.6% after gaining 1.2% in February, the ...
3h ago
BoC says there's a limit to how far US and Canada rates can diverge
OTTAWA (Reuters) - There is a limit to how far U.S. and Canadian interest rates can diverge but "certainly we're not close to that limit", Bank of Canada Governor Tiff Macklem told the House of Commons finance committee on Thursday. Macklem reitera...
4h ago
Pinnacle West Capital posts Q1 profit on customer growth, new rates
(Reuters) - Pinnacle West Capital Corp posted a quarterly profit from year-ago loss on Thursday, on the back of customer growth, increased sales and new rates. Utility companies use General Rate Case (GRC) proceedings to increase consumer electrici...
4h ago
Xylem raises 2024 profit forecast on water treatment products demand
(Reuters) - Xylem raised its annual profit forecast on Thursday on the back of strong demand for its water and waste-water treatment products and services. The company now expects 2024 adjusted profit between $4.10 and $4.25 per share, compared wit...
4h ago
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...
4h 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...
4h 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...
4h 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 ...
4h 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. ...
4h 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...
4h 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...
4h 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...
5h 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 ...
5h 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 ...
5h 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...
5h 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 ...
5h 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...
5h 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...
5h 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...
5h 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...
5h ago