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…
Marketmind: Equity bounce ebbs with eyes on Middle East
A look at the day ahead in European and global markets from Tom Westbrook Asia carried on Wall Street’s overnight rally but with less enthusiasm while headline news from the Middle East…
New Zealand consumer inflation slows, still exceeds central bank target
By Lucy Craymer WELLINGTON (Reuters) -New Zealand’s consumer inflation slowed to a two-year low in the third quarter, reducing expectations that the central bank will hike the cash rate further in November…
TSMC third-quarter profit to slide 30%, focus on how much growth to come
By Sarah Wu and Ben Blanchard TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd is expected to report a 30% slump in third-quarter profit on Thursday but analysts predict robust growth next…
Corporate Australia takes Indigenous support into its own hands after poll defeat
By Byron Kaye SYDNEY (Reuters) – Top Australian companies that backed constitutional recognition of Indigenous people said they respected voters’ rejection of the change but would now take their own steps to…
Japan finance minister: No comment on IMF remarks on FX intervention
By Tetsushi Kajimoto TOKYO (Reuters) -Japanese Finance Minister Shunichi Suzuki on Tuesday declined to comment on remarks by an International Monetary Fund (IMF) official about currency intervention, and said there was no…
AI should cut pensions costs, highlight risks -report
LONDON (Reuters) – Artificial intelligence should improve pensions performance by cutting costs and highlighting upcoming risks, the Mercer CFA Institute’s global pensions report said on Tuesday, with the Netherlands in top spot…
Rio Tinto cuts Canada iron ore production estimate on extended plant outage
By Rishav Chatterjee (Reuters) -Rio Tinto reported a rise in quarterly output across its copper and aluminium portfolios on Tuesday, sending its shares 3% higher, even as the miner cut its annual…
Bank Indonesia to stay put till year-end, cut in Q2 2024: Reuters poll
By Veronica Dudei Maia Khongwir BENGALURU (Reuters) – Bank Indonesia (BI) will follow its regional peers and leave its interest rate unchanged on Oct. 19, staying on the sidelines for longer than…
Bank of Korea to hold base rate on Oct. 19, rate cut call pushed to Q2 2024 – Reuters poll
By Anant Chandak BENGALURU (Reuters) – The Bank of Korea will keep its key policy rate unchanged for a sixth consecutive meeting on Oct. 19 but maintain a hawkish bias on resurging…
Australia’s central bank saw upside risks to inflation at Oct policy meeting
SYDNEY, Oct 17 (Reuters) – Australia’s central bank considered raising rates at its recent policy meeting but judged there was not enough new information to warrant a move, though more would be…
Thousands of Detroit casino workers threaten to go on strike on Tuesday
(Reuters) -About 3,700 Detroit casino workers are set to strike on Tuesday noon, if a contract deal is not reached, the Detroit Casino Council (DCC) said on Monday. A strike will hit…
Wall Street ends up on earnings optimism; eyes remain on Middle East
By Caroline Valetkevitch NEW YORK (Reuters) – Major U.S. stock indexes ended sharply higher on Monday as investors were optimistic about the start of earnings season, while transportation and small-cap shares also…
US agency fines Zipcar for uncompleted recall rentals
By David Shepardson WASHINGTON (Reuters) – U.S. auto safety regulators said on Monday car-sharing firm Zipcar has agreed to pay a $150,000 fine after a government investigation found it allowed customers to…
Marketmind: Stocks break higher, but for longer too?
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set to open higher on Tuesday as investors look…
Fed’s Harker says Fed should not be considering more rate increases
NEW YORK (Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing.…
Analysis-Finance leaders stumble on Israel-Gaza war shock as IMF, World Bank advance reforms
By Andrea Shalal and David Lawder MARRAKECH, Morocco (Reuters) -Global finance leaders’ paralysis in coming to grips with the fallout from the Hamas attack and Israel’s response last week exposed deep geopolitical…
Disney’s 100-year journey from garage studio to media empire
(Reuters) – In 1923, Walt Disney left his failing animation company called Laugh-O-gram Films and used his last $40 to buy a train ticket to join his brother, Roy, in Los Angeles,…
Rite Aid files for bankruptcy faced with high debt, opioid lawsuits
By Abinaya V and Dietrich Knauth (Reuters) -Debt-laden U.S. drugstore chain Rite Aid filed for bankruptcy protection late on Sunday and said it would close underperforming stores, sell its pharmacy benefit company…
Wall St ends sharply higher, Treasury yields gain as earnings, data loom
By Stephen Culp NEW YORK (Reuters) – Wall Street jumped and benchmark Treasury yields climbed on Monday as investors embarked upon the first full week of third-quarter earnings while keeping a close…
ECB ‘quite some distance’ from rate cuts -ECB chief economist
FRANKFURT (Reuters) – The European Central Bank will need some time, possibly until next spring, before it can be confident that inflation is returning to its 2% target, ECB chief economist Philip…
Lululemon shares hit nearly two-year high on S&P 500 inclusion
By Chibuike Oguh NEW YORK (Reuters) – Lululemon Athletica’s stock jumped by more than 10% to an almost two-year high on Monday buoyed by the addition of the Canadian sportswear maker into…
Big Tobacco turns to rooibos tea to counter upcoming ban
By Emma Rumney LONDON (Reuters) – Big Tobacco firms including British American Tobacco are selling heat sticks made from nicotine-infused substances such as rooibos tea, countering an incoming European Union ban on…
Bitcoin gives up gains after BlackRock denies ETF approval report
By Tom Wilson, Elizabeth Howcroft and Hannah Lang LONDON/WASHINGTON (Reuters) -Bitcoin rose suddenly on Monday, before giving up nearly all its gains, after asset manager BlackRock denied a crypto media report that…
Ford, UAW leaders spar as auto strike costs rise
By Joseph White and David Shepardson DEARBORN, Michigan (Reuters) – Ford executive chairman Bill Ford on Monday urged the United Auto Workers union to end a 32-day strike and reach a new…
Dollar drops against euro, flat against yen
By Karen Brettell NEW YORK (Reuters) – The dollar was mixed on Monday before a week heavy with speeches by Federal Reserve officials that will be watched for further clues on interest…
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