Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
Comcast ramps up spending on Peacock streaming service
By Helen Coster and Eva Mathews – Comcast Corp is ramping up spending on its Peacock streaming service, executives said on Thursday, aiming to catch up to big media rivals in the…
Crypto giant Binance hopes Russia will help regional growth
By Elena Fabrichnaya MOSCOW – Binance, the world’s largest cryptocurrency exchange, wants to expand in Russia and neighbouring states where it sees prospects for new regulations that will boost its business, an…
U.S. pending home sales fall for second straight month in December
WASHINGTON – Contracts to buy U.S. previously owned homes fell for a second straight month in December amid record low inventory. The National Association of Realtors (NAR) said on Thursday its Pending…
Early data show January losses for stock picking hedge funds
– Hedge funds that specialize in picking stocks started 2022 with losses, investors and research firms said this week as markets went on a rollercoaster ride fueled by fears of rising interest…
Biden, buoyed by GDP figures, urges Congress to pass bills
WASHINGTON – U.S. President Joe Biden welcomed the strong GDP growth figure released on Thursday, saying his economic plan is working and urging Congress to pass legislation to make the United States…
20,000 additional H-2B visas announced by Biden Administration
WASHINGTON – The U.S. government said on Thursday it would grant an additional 20,000 H-2B visas for the first half of the fiscal year, in an attempt to ease the U.S. labor…
New EV owners resist gasoline cars, survey shows
– First-time owners of electric vehicles were reluctant to switch back to gasoline-fueled cars even as concerns continued to loom about the availability of charging infrastructure, a report from J.D. Power showed…
Altice calls off Portugal sale over valuation row with buyout funds – sources
By Pamela Barbaglia and Sergio Goncalves LONDON – Altice Europe NV has ditched a plan to sell its Portuguese business after private equity bids failed to meet price expectations, leaving founder Patrick…
Dealmaking helps Deutsche Bank land biggest profit in a decade
By Tom Sims and Frank Siebelt FRANKFURT -Deutsche Bank delivered its most profitable year in a decade on the back of a dealmaking bonanza, strengthening Chief Executive Christian Sewing’s hand as he…
U.S. core capital good orders unchanged in December
WASHINGTON – New orders for U.S.-made capital goods were unexpectedly unchanged in December, suggesting a loss of momentum in business spending on equipment amid shortages. The Commerce Department said on Thursday that…
Analysis-‘Nimble’ Fed narrows normalisation window for timid ECB
By Balazs Koranyi FRANKFURT – A flurry of rate hikes by the U.S. Federal Reserve will complicate life for the European Central Bank over the coming year, even if their policymakers appear…
WhatsApp has until end of Feb to clarify privacy policy change, EU says
By Foo Yun Chee BRUSSELS – Facebook unit WhatsApp has been given until the end of February to explain changes to its privacy policy and whether this complies with EU consumer protection…
Analysis-Investors look to prune portfolio risk as Fed hawkishness rules markets
By David Randall and Davide Barbuscia NEW YORK – The Federal Reserve’s hawkish shift is bolstering the case for investors looking to trim risk from their portfolios, as the U.S. central bank…
Facebook wins conditional EU antitrust nod for Kustomer deal
By Foo Yun Chee BRUSSELS – Facebook on Thursday secured EU antitrust approval for its acquisition of U.S. customer service startup Kustomer after agreeing to provide rivals free access to its messaging…
Northrop sales disappoint as supply chain snarls restrict deliveries
By Mike Stone and Nathan Gomes -Northrop Grumman Corp missed fourth-quarter revenue estimates on Thursday as labor shortages and supply chain snarls hampered its ability to deliver components for defense products, including…
DBS to announce purchase of Citi’s Taiwan consumer business -sources
TAIPEI -Singapore’s DBS Group will announce on Friday it is to buy Citigroup’s consumer finance business in Taiwan, two sources familiar with the matter told Reuters on Thursday. DBS and Citi declined…
Exclusive-Russian bonds would weather sanctions, but yields would rise -deputy Finance Minister
By Darya Korsunskaya MOSCOW -Any tightening of western sanctions on an already stressed Russian domestic bond market would make borrowing more expensive for the government and cause significant short-term volatility, a deputy…
ECB kicks off climate stress test for banks
FRANKFURT – The European Central Bank launched a stress test on Thursday to assess how prepared banks are to deal with potential shocks stemming from climate risk, it said in a statement.…
Siemens Energy weighs options for Siemens Gamesa integration -sources
By Christoph Steitz FRANKFURT -Siemens Energy has stepped up efforts to explore a full integration of wind turbine business Siemens Gamesa, sources told Reuters, after profit warnings and share price slumps last…
GM, Microsoft tout Biden climate, social spending push
By David Shepardson and Alexandra Alper WASHINGTON – Prominent U.S. business leaders expressed support for key parts of President Joe Biden’s proposed $1.75 trillion spending bill on climate and social programs even…
UniCredit reaches deal with unions on job cuts in Italy
By Valentina Za MILAN -Italian lender UniCredit has signed an agreement with unions for 1,200 voluntary job cuts to be partly offset by 725 new hires, the country’s biggest banking union said…
EU airline passenger data law gets thumbs-up from EU court adviser
By Foo Yun Chee BRUSSELS – An EU law on gathering airline passenger information conforms with the bloc’s rights and data protection laws, but such data should only be retained if it…
Crypto firm Fireblocks raises $550 million, company valued at $8 billion
By Gertrude Chavez-Dreyfuss NEW YORK – Fireblocks, a digital asset infrastructure provider, said on Thursday it raised $550 million from institutional investors, making it one of the largest financing rounds in the…
EU watchdog seeks more influence over margin calls at clearing houses
By Huw Jones LONDON – The European Union’s securities watchdog proposed changes on Thursday to the bloc’s rules for clearing houses, saying more harmonisation was needed to avoid the sector amplifying market…
Crypto tax firm CoinTracker raises $100 million for expansion
By Gertrude Chavez-Dreyfuss NEW YORK – CoinTracker, which tracks consumers’ cryptocurrency taxes and portfolios, said on Thursday it has raised $100 million in funding from a slew of institutional investors and high-net-worth individuals.…
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