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…
Rolls-Royce to cut 2,500 jobs in cost cutting drive -Sky News
(Reuters) -Rolls-Royce Holdings is set to axe about 2,500 staff as soon as Tuesday as part of a cost-cutting drive by its new chief executive, Sky News reported on Monday. The job…
Rolls-Royce to cut up to 2,500 jobs in latest efficiency drive
By Sarah Young LONDON (Reuters) -Rolls-Royce said on Tuesday it would cut up to 2,500 jobs as its new chief executive seeks to build a more efficient business, the latest boss to…
US Federal Reserve to meet Oct. 24 to discuss final fair lending rule
(Reuters) – The Federal Reserve will meet Oct. 24 to discuss final rules updating requirements for fair lending by banks under a long-standing law, the central bank announced Tuesday. The pending update…
ASML sees no short-term impact of updated U.S. rules on China exports
AMSTERDAM (Reuters) – ASML, a major supplier of equipment to computer chip manufacturers, said on Tuesday it does not expect any short-term financial impact from newly updated guidance on U.S. restrictions on…
Fed’s Barkin: Fed has time to see data before making next rate move call
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that the U.S. central bank still has time to decide on its next…
Country Garden on brink of default as payment deadline nears
By Clare Jim and Xie Yu HONG KONG (Reuters) -Country Garden’s entire offshore debt will be deemed to be in default if China’s largest private property developer fails to make a $15…
Nigeria’s naira hits record low of 980 per dollar on official market -Refinitiv data
ABUJA (Reuters) -Nigeria’s naira hit a record low of 980 per dollar on the official market on Tuesday, Refinitiv data showed, mirroring weakness on the parallel market, as persistent dollar shortages plague…
South Africa’s path to inflation stabilisation uncertain- cenbank
JOHANNESBURG (Reuters) – South Africa’s central bank said on Tuesday that upside risks to inflation had strengthened over the past months, heightening uncertainty about a precise path for inflation. The South African…
US business inventories increase in August
WASHINGTON (Reuters) – U.S. business inventories increased a bit more than expected in August even as sales surged, suggesting inventory investment could provide a lift to economic growth in the third quarter.…
Canada’s inflation slows in September, likely heading off rate hike
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s annual inflation rate unexpectedly slowed to 3.8% in September and underlying core measures also eased, data showed on Tuesday, prompting markets and analysts…
Lockheed beats estimates on sustained weapons demand amid geopolitical tensions
By Pratyush Thakur and Mike Stone (Reuters) -U.S. defense contractor Lockheed Martin shares are up 2%after reporting better-than-expected third-quarter revenue and profit on Tuesday, as geopolitical tensions fueled sustained demand for its…
U.S. home builder confidence falls to lowest since January
By Amina Niasse NEW YORK (Reuters) – Homebuilder confidence fell in October to the lowest levels since January, according to a report released Tuesday, signaling sky-high mortgage rates are weighing on construction…
US manufacturing output rises solidly in September
WASHINGTON (Reuters) – Production at U.S. factories increased more than expected in September despite strikes in the automobile industry curbing motor vehicle output, further evidence that the economy exited the third quarter…
Thermo Fisher Scientific to buy Olink in $3.1 billion deal
(Reuters) -Thermo Fisher Scientific would acquire Olink Holding AB in a deal valued at $3.1 billion, the companies said on Tuesday, as the U.S. medical equipment maker seeks to boost its life…
EU securities watchdog warns investors over crypto market protections
By Huw Jones LONDON (Reuters) – Investors will not be protected under European Union cryptoasset market rules until at least the end of 2024, and even then they should still be ready…
US retail sales beat expectations in boost to third-quarter GDP growth expectations
WASHINGTON (Reuters) -U.S. retail sales increased more than expected in September as households stepped up purchases of motor vehicles and spent more at restaurants and bars, cementing expectations that economic growth accelerated…
What risk? China investors snap up local government bonds as Beijing tackles big debts
By Li Gu and Tom Westbrook (Reuters) – Chinese investors are rushing to buy bonds of local government financing vehicles (LGFVs), including from the riskiest issuers, as Beijing’s fresh attempts to reduce…
Prologis beats third-quarter FFO estimates, warns of “negative customer sentiment”
(Reuters) – Warehouse-focused real estate investment trust (REIT) Prologis reported better-than-expected quarterly funds from operations (FFO) per share on Tuesday on higher rental revenue but warned of demand pressures. The company said…
Philippines’ Cebu Pacific eyes deal for 100-150 aircraft worth up to $12 billion
By Neil Jerome Morales MANILA (Reuters) -Cebu Pacific is looking to order 100-150 narrow-body aircraft from either Boeing or Airbus worth up to $12 billion in what could be the Philippines’ largest…
Exclusive-Mitsubishi Corp considering bid for Fujitsu’s chip unit Shinko Electric -sources
By Makiko Yamazaki and Maki Shiraki TOKYO (Reuters) -Mitsubishi Corp is considering bidding for Fujitsu’s chip packaging unit Shinko Electric Industries, two sources said, as Japan’s top trading house weighs an entry…
Bank of Israel hints in no rush to cut rates as this would stoke inflation
By Steven Scheer JERUSALEM (Reuters) – The Bank of Israel hinted on Tuesday that it was in no rush to lower interest rates despite Israel’s war with Hamas in Gaza, since doing…
Amazon to launch online shopping service in South Africa in 2024
By Nqobile Dludla JOHANNESBURG (Reuters) -Amazon said on Tuesday it would launch its online shopping service in South Africa next year, making it only the second African country after Egypt where the…
China’s Xi wants to expand cooperation with Indonesia in several key markets
BEIJING (Reuters) – China is willing to expand and strengthen cooperation with Indonesia in emerging industries such as the digital economy, photovoltaics and new energy vehicles, President Xi Jinping said on Tuesday.…
Cryptoverse: Winter is coming as ether funds flounder in fall
By Lisa Pauline Mattackal (Reuters) – The weak crypto market is wobbling through autumn. And winter’s on its way. The long-anticipated U.S. launch of a group of exchange-traded funds tracking ether offered…
Citroen targets low-cost Chinese EVs with electric C3 for 23,300 euros
By Gilles Guillaume MEUDON, France (Reuters) – Citroen on Tuesday unveiled its new electric e-C3 SUV, a low-cost model starting at 23,300 euros ($24,540) aimed at taking on Chinese carmakers in the…
Breaking News
