Today: September 27, 2024
Today: September 27, 2024

Latest From Reuters

Business|Economy

Volvo Cars blames EU tariffs as it cuts 2024 sales forecast

Volvo Cars cut its full-year retail sales forecast on Thursday, blaming European tariffs on EVs made in China that will hit one of the Swedish

Volvo Cars blames EU tariffs as it cuts 2024 sales forecast
Business|Economy

Standard Chartered boosts private bank team with 14 new hires

Standard Chartered has hired more than a dozen new bankers to its private banking teams in Singapore, Hong Kong and the United Arab Emirates in a bid to grow the affluent

Standard Chartered boosts private bank team with 14 new hires
Economy

Australia June jobs jump beyond forecasts, unemployment still up

Australian employment jumped well beyond expectations in June, yet the jobless rate still ticked higher as more people went looking for work, a mixed report that leaves open the

Australia June jobs jump beyond forecasts, unemployment still up
Business|Economy

Insurance broker TWFG prices US IPO above range to raise about $187 million

Insurance broker TWFG, backed by U.S. reinsurer RenaissanceRe, said on Wednesday it priced its initial public offering (IPO) above its indicated range, seeking to raise up to $187 million.

Insurance broker TWFG prices US IPO above range to raise about $187 million
Business|Economy

Equifax sees Q3 revenue below estimates amid mortgage market slowdown

Consumer credit ratings firm Equifax forecast third-quarter revenue below Wall Street estimates on Wednesday as higher-for-longer interest rates continue to derail recovery in mortgage

Equifax sees Q3 revenue below estimates amid mortgage market slowdown
Business|Economy

Discover Financial quarterly profit jumps on higher interest income

Discover Financial Services on Wednesday reported a 70% rise in second-quarter profit, as a high-rate environment helped the U.S. credit issuer earn more in interest income.

Discover Financial quarterly profit jumps on higher interest income
Business|Economy

US SEC sues Digital World's former CEO alleging securities fraud

The U.S. Securities and Exchange Commission on Wednesday sued Patrick Orlando, ex-chief of Digital World Acquisition Corp that helped former U.S.

US SEC sues Digital World's former CEO alleging securities fraud
Business|Economy

US firms point to slowing activity and softer labor market, Fed survey shows

U.S. economic activity expanded at a slight to modest pace from late May through early July with firms expecting slower growth ahead as they also reported

US firms point to slowing activity and softer labor market, Fed survey shows
Business|Economy|Environment

Kinder Morgan reports Q2 miss, remains optimistic on natgas demand

U.S. pipeline and terminal operator Kinder Morgan said on Wednesday it expects data center driven electricity need to be a significant driver of natural gas demand,

Kinder Morgan reports Q2 miss, remains optimistic on natgas demand
Business|Economy

Beyond Meat engages with bondholders to discuss balance-sheet restructuring, WSJ reports

Beyond Meat has engaged with a group of bondholders to initiate discussions about a balance-sheet restructuring, the Wall Street Journal reported on Wednesday, sending its shares down 13%

Beyond Meat engages with bondholders to discuss balance-sheet restructuring, WSJ reports
Business|Economy

Prologis raises annual core FFO forecast on better demand, data center strength

Warehouse-focused real estate investment trust (REIT) Prologis raised the lower end of its full-year forecast for core funds from operations (FFO) on Wednesday, banking on better demand

Prologis raises annual core FFO forecast on better demand, data center strength
Business|Economy

US manufacturing output beats expectations with 0.4% rise in June

Production at U.S. factories increased more than expected in June, contributing to a solid rebound in output in the second quarter, though higher borrowing costs remain a

US manufacturing output beats expectations with 0.4% rise in June
Business|Economy

US banks see high deposit costs, investment banking boost

U.S. lenders' second-quarter profits were squeezed by dampening loan demand and the high interest they paid to hold on to deposits, but a flurry of bond sales boosted their investment

US banks see high deposit costs, investment banking boost
Business|Economy

PBOC conducts new survey of regional banks' bond investments, sources say

China's central bank has made a fresh round of surveys on bond investments held by some regional banks, weeks after it hinted that it could use the billions of yuan worth of

PBOC conducts new survey of regional banks' bond investments, sources say
Business|Economy

Australia's Fortescue to cut about 700 jobs; appoints insider Apple Paget as CFO

Fortescue will reduce about 700 jobs, or 4.5% of its global workforce, in a fresh restructuring round, the Australian miner said on Wednesday, as it appointed acting Chief Financial

Australia's Fortescue to cut about 700 jobs; appoints insider Apple Paget as CFO
Business|Economy

U.S. Bancorp's adjusted profit falls as deposit costs hurt interest income

U.S. Bancorp's adjusted profit fell about 10% in the second quarter on Wednesday, hurt by a decline in interest income due to higher deposit costs and muted loan demand.

U.S. Bancorp's adjusted profit falls as deposit costs hurt interest income
Business|Economy

Northern Trust's profit surges on fee income boost, accounting gain

Asset and wealth manager Northern Trust posted a more than two-fold jump in second-quarter profit on Wednesday, thanks to higher fee income and an accounting gain of $878.4 million from a

Northern Trust's profit surges on fee income boost, accounting gain
Business|Economy

Citizens Financial profit beats estimates on strong capital markets

U.S. lender Citizens Financial beat expectations for second-quarter profit on Wednesday, lifted by strong capital markets.

Citizens Financial profit beats estimates on strong capital markets
Business|Economy|Education

Discover sells student loan portfolio to Carlyle, KKR for up to $10.8 billion

-Discover Financial Services will sell a portfolio of student loans to buyout giants Carlyle and KKR for up to $10.8 billion, the credit card-focused lender said on Wednesday.

Discover sells student loan portfolio to Carlyle, KKR for up to $10.8 billion
Business|Economy

Honda sets secondary share sale price at 3% discount in $3.16 billion deal

Honda Motor has priced shares in a secondary share sale at 1,664.5 yen each, or a 3% discount to Wednesday's closing price, valuing the deal at 497 billion yen ($3.16 billion), the

Honda sets secondary share sale price at 3% discount in $3.16 billion deal
Economy

Indonesia central bank holds interest rates steady, as expected

Indonesia's central bank held its benchmark interest rate steady on Wednesday, as expected, saying the current level remained consistent to

Indonesia central bank holds interest rates steady, as expected
Business|Economy

Ray-Ban maker EssilorLuxottica taps streetwear audience with Supreme deal

EssilorLuxottica has agreed to buy streetwear brand Supreme from VF Corporation for $1.5 billion, the companies said on Wednesday, marking the first acquisition of an

Ray-Ban maker EssilorLuxottica taps streetwear audience with Supreme deal
Business|Economy

Spanish fund Criteria to team up with Skoda in bid for Talgo, Cinco Dias says

Spain's Criteria, the investment arm of the La Caixa foundation, is considering teaming up with Czech train maker Skoda in its bid for Talgo, Cinco Dias newspaper reported on

Spanish fund Criteria to team up with Skoda in bid for Talgo, Cinco Dias says
Business|Economy

Hong Kong posts record home purchases by mainland Chinese, realtor says

Hong Kong saw record home purchases by mainland Chinese buyers in the first six months after the financial hub removed all buying curbs, major realtor Centaline Property Agency

Hong Kong posts record home purchases by mainland Chinese, realtor says
Business|Economy

Maersk says Red Sea shipping disruption having global effects

Denmark's A.P.

Maersk says Red Sea shipping disruption having global effects

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