Brazil's JBS earns nearly $320 million in Q1, beating analysts expectations
SAO PAULO (Reuters) - Brazil's JBS SA, the world's largest meat-packer, on Tuesday reported a net profit of 1.64 billion reais ($319.74 million) for the first quarter, which beat analysts' expectations by a wide margin, according to an earnings sta...
1h ago
MSCI publishes quarterly index review results
(Reuters) - Index provider MSCI said on Tuesday that 42 securities will be added and 121 securities removed from its widely followed MSCI ACWI index following its quarterly review. The changes will be implemented as of market close on May 31. The t...
1h ago
US federal court enforces SEC's subpoena to depose Elon Musk
SAN FRANCISCO (Reuters) - A federal court said that Elon Musk must testify again in the U.S. Securities and Exchange Commission's investigation into his $44 billion takeover of Twitter, according to a court filing on Tuesday. The SEC sued Musk in O...
1h ago
US FDIC's Gruenberg to create office to address workplace conduct issues
By Douglas Gillison and Pete Schroeder WASHINGTON (Reuters) - The head of the Federal Deposit Insurance Corporation plans to tell Congress he will establish a new, independent office devoted to professional conduct after an external review found co...
1h ago
French central bank sees "slight" second quarter growth
PARIS (Reuters) - The French economy is set to expand slightly in the second quarter after growing 0.2% in the first quarter, the country's central bank said on Tuesday in its monthly business survey. The Bank of France did not offer a specific est...
4h ago
Citi executive in charge of implementing bank's restructuring departs
(Reuters) - Citigroup's Titi Cole, a top executive in charge of implementing its sweeping restructuring plan, is leaving the bank, an internal memo seen by Reuters showed on Tuesday. Cole, as the head of legacy franchises, executed the third larges...
4h ago
China's BYD unveils mid-size hybrid EV pickup in Mexico
MEXICO CITY (Reuters) - Chinese automaker BYD unveiled the Shark, a mid-size hybrid-electric pickup truck, at an event in Mexico on Tuesday. (Reporting by Cassandra Garrison; Editing by Anthony Esposito)
5h ago
Alphabet to spotlight AI innovations at developer conference
By Max A. Cherney SAN FRANCISCO (Reuters) - Alphabet is expected to announce on Tuesday how it is building on artificial intelligence across its businesses, a day after OpenAI demonstrated a new AI model that can work with sound and images in addit...
5h ago
Analysis-Hopes for 'soft landing' at stake as investors await US inflation data
By Lewis Krauskopf NEW YORK (Reuters) - Investors' newfound optimism on the U.S. economy faces an important test on Wednesday, with consumer price data set to show whether the soft landing hopes that have fueled recent gains in equities are justifi...
5h ago
Converse to cut jobs as part of Nike's cost-savings plan, Bloomberg News reports
(Reuters) - Footwear brand Converse will cut jobs as part of parent company Nike's on-going $2 billion cost savings plan, Bloomberg News reported on Tuesday citing an internal memo. (Reporting by Juveria Tabassum; Editing by Krishna Chandra Eluri)
5h ago
Elon Musk's xAI nears $10 billion deal to rent Oracle's AI servers, The Information reports
(Reuters) -Elon Musk's artificial intelligence startup xAI has been talking to Oracle executives about spending $10 billion to rent cloud servers from the company over a period of years, The Information reported on Tuesday, citing a person involved in ...
6h ago
Argentina traders bet on another big rate cut as inflation eases
By Jorge Otaola BUENOS AIRES (Reuters) - Argentine market traders are betting the central bank will cut its benchmark interest rate again this week given the slowdown in monthly inflation and a planned Treasury debt auction, two money market source...
6h ago
US Fed's Powell expects inflation to fall, though not as confident as before
By Bart H. Meijer and Toby Sterling AMSTERDAM (Reuters) - Federal Reserve Chair Jerome Powell said he expects U.S. inflation to continue declining through 2024 as it did last year, though his confidence in that has fallen after prices rose more qui...
7h ago
Comcast to unveil Netflix, Apple TV+, Peacock streaming bundle
(Reuters) - Comcast is set to launch a streaming bundle combining its Peacock service with Netflix and Apple TV+, as the media and broadband company looks to retain subscribers in the face of stiff competition. The new bundle, StreamSaver, will be ...
7h ago
Exclusive-German economic advisors to cut 2024 growth forecast, says source
By Holger Hansen BERLIN (Reuters) - The German Council of Economic Experts expects 0.2% gross domestic product growth this year, according to source who has seen a draft document that will be presented on Wednesday. For 2025, the economic experts f...
7h ago
US airlines forecast record 2024 summer travel, up 6.3% over 2023
WASHINGTON (Reuters) - A group representing major U.S. airlines forecast record summer travel with carriers expected to transport 271 million passengers, up 6.3%. Airlines for America said Tuesday that U.S. carriers plan to fly more than 26,000 dai...
7h ago
BHP chief urges Anglo investors to consider takeover benefits
JOHANNESBURG/ LONDON (Reuters) - BHP Chief Executive Mike Henry said that Anglo American investors need to consider the merits of his company's bid for its smaller London-listed rival, seeking to drum up support for a proposal that has been rejecte...
8h ago
G7 to discuss global trade risks after US tariffs on China
ROME (Reuters) - The Group of Seven (G7) major democracies meeting in Italy next week will discuss the risk of fragmentation in global trade after "very tough" tariffs imposed by the United States against China, Italian Economy Minister Giancarlo G...
8h ago
Brazil airline Gol swings to net loss in first quarter
SAO PAULO (Reuters) - Brazilian airline Gol reported on Tuesday a first-quarter recurring net loss of 130.2 million reais ($25.39 million), swinging into the red after a 136.4 million-real net profit a year ago, mainly hit by financial expenses. Go...
8h ago
Amazon's cloud unit CEO Adam Selipsky to step down, Matt Garman to take his place
(Reuters) -The chief executive of Amazon.com's cloud unit Amazon Web Services, Adam Selipsky, is stepping down, the company said on Tuesday. Amazon.com's shares fell 1% in early trading. Senior Vice President Matt Garman will take on Selipsky's role at...
8h ago
Trump says US China tariffs needed on other vehicles, products
NEW YORK (Reuters) - Former U.S. President Donald Trump said the Biden administration's new tariffs on Chinese electric vehicles, semiconductors and medical products should be applied to other types of vehicles and products. "They've also got to do...
8h ago
Tesla is sued over emissions from California plant
By Jonathan Stempel and Clark Mindock (Reuters) - Tesla has been sued by an environmental nonprofit that accused Elon Musk's electric car company of violating the federal Clean Air Act hundreds of times by letting its Fremont, California, plant emi...
8h ago
Tesla strike in Sweden heats up as nation's largest union joins fray
By Marie Mannes STOCKHOLM (Reuters) - Sweden's biggest union on Tuesday threw its weight behind a six-month-old strike by mechanics at Tesla, escalating a conflict the notoriously union-shy company is facing with a Nordic labour force committed to ...
8h ago
Exclusive-Anglo American explores De Beers IPO as part of break-up, sources say
LONDON (Reuters) - Anglo American is exploring an initial public offering of its diamond business De Beers, two people familiar with the matter told Reuters on Tuesday, with London the preferred venue, one of them said. The potential listing was t...
9h ago
Delayed Fed cuts could also slow ECB, Wunsch says
FRANKFURT (Reuters) - The European Central Bank's first two interest rate cuts are a "no brainer" but slower than expected policy easing in the U.S. could delay some of the ECB's moves, Belgian central bank chief Pierre Wunsch told German newspaper...
9h ago