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…
Oil falls more that $1 a barrel on Venezuela deal hopes
By Erwin Seba HOUSTON (Reuters) -Oil futures fell more then $1 a barrel on Monday as expectations rose the U.S. and Venezuela could soon reach a deal easing sanctions on Venezuelan crude…
EU urges reforms, single market in Western Balkans to boost membership bids
TIRANA (Reuters) – The European Union wants to bring six Western Balkan countries closer to membership of the bloc but wants them first to implement reform and create their own single market,…
Walmart staffed up for holidays; US retailers cautious about economy
By Siddharth Cavale NEW YORK (Reuters) – Walmart signaled it has enough staff for the holidays, in another sign that top U.S. retailers, fearing a seasonal shopping slowdown, are holding off on…
Exclusive-US tackles loopholes in curbs on AI chip exports to China – official
By Karen Freifeld (Reuters) -The U.S. will take steps to prevent American chipmakers from selling semiconductors to China that circumvent government restrictions, a U.S. official said, as part of the Biden administration’s…
Analysis-Debt squeeze leaves sub-Saharan Africa’s governments in fiscal bind
By Rachel Savage MARRAKECH, Morocco (Reuters) – The International Monetary Fund (IMF) urged sub-Saharan African policymakers last week to cut costly fuel subsidies and raise more in taxes, measures that may be…
UAW strike could upend GM, Ford financial strategies
By Joseph White DETROIT (Reuters) – General Motors and Ford have laid out ambitious plans to spend billions developing new electric vehicles while returning capital to investors, all funded by robust profits…
Australia fines Musk’s X platform $386,000 over anti-child abuse gaps
By Byron Kaye SYDNEY (Reuters) -An Australian regulator has fined Elon Musk’s social media platform X A$610,500 ($386,000) for failing to cooperate with a probe into anti-child abuse practices, a blow to…
Brazil central bank director cites consensus on 50 bp rate cut pace going forward
BRASILIA (Reuters) – There was unanimity in the Brazil central bank’s latest policy decision that an interest-rate-cut pace of 50 basis points would be suitable for the upcoming meetings, the bank’s director…
Volkswagen brand cost-cutting plan running behind schedule – sources
By Victoria Waldersee BERLIN (Reuters) – Volkswagen is running behind schedule in defining key measures of a planned 10 billion euro ($10.5 billion) cost-cutting drive for its namesake brand, two people familiar…
LinkedIn lays off 668 employees in second cut this year
By Krystal Hu and Yuvraj Malik (Reuters) -Microsoft’s LinkedIn said on Monday it would lay off 668 employees across its engineering, talent and finance teams in the second round of job cuts…
Exclusive-Britain, South Korea extend tariff-free trade on goods with EU links
By Sachin Ravikumar LONDON (Reuters) – Britain and South Korea have agreed to extend a period of low or zero tariffs on bilateral trade of products with parts from the European Union,…
Charles Schwab posts profit beat on robust asset management growth, shares rise
By Jaiveer Shekhawat (Reuters) -Charles Schwab’s third-quarter profit edged past Wall Street estimates on Monday as strong growth in its asset management business more than made up for a fall in its…
German wholesale prices fall for sixth month in a row
BERLIN (Reuters) – German wholesale prices fell for the sixth month in a row in September due to lower prices for mineral oil products, data from the federal statistics office showed on…
More Chinese companies vow share buybacks as market sags further
SHANGHAI (Reuters) – Dozens of China-listed companies announced plans on late Monday to buy back shares or scrap plans of stock selling, following a slew of measures authorities took to boost a…
Factbox-Rite Aid joins companies going bankrupt amid opioid litigation
(Reuters) – Drugstore chain Rite Aid is the latest U.S. company to seek bankruptcy protection following pressure from lawsuits alleging that they helped fuel the opioid crisis. Opioid drugs have been one…
Moderna reaffirms annual COVID vaccine sales forecast
(Reuters) – Moderna on Monday reaffirmed its forecast of $6 billion to $8 billion in COVID vaccine sales for the year, after rival Pfizer slashed forecast for its vaccine last week. Moderna…
Pfizer’s COVID outlook cuts hit other vaccine maker shares
By Michael Erman, Ludwig Burger and Manas Mishra (Reuters) -Pfizer set off a fresh round of concern about the size of the U.S. COVID-19 vaccine and treatment market in the long term,…
Snap shares jump as leaked 2024 user target exceed Wall St expectations
(Reuters) – Snap shares jumped 11% on Monday after a media report said the social media company is expected to have more than 475 million daily active users (DAUs) in 2024, above…
Yellen says US, EU support crucial to Ukraine’s fight against Russia
By Andrea Shalal LUXEMBOURG (Reuters) – U.S. Treasury Secretary Janet Yellen on Monday said support for Ukraine remained a “top priority” for the United States and Europe, calling it crucial to underpin…
Nigeria’s cabinet OKs proposed $1.5 billion loan from World Bank
By Felix Onuah ABUJA (Reuters) -Nigeria’s cabinet has approved proposed borrowing of $1.5 billion from the World Bank, its finance minister said on Monday. Olawale Edun, who is also coordinating minister for…
Long US Treasury yields may rise further despite near-term swings, BlackRock says
By Davide Barbuscia NEW YORK (Reuters) – Long-term U.S. Treasury yields may still have room to rise but they could swing in both directions in the near term as inflation eases and…
Absolut Vodka and Coke’s Sprite to combine in canned cocktail
LONDON (Reuters) -Absolut Vodka and lemonade drinkers will soon be able to sip their preferred cocktail from a can, after drinks makers Pernod Ricard and Coca-Cola agreed to a pre-mixed version made…
Businessman Noboa to face economic, security hurdles as Ecuador president
By Alexandra Valencia QUITO (Reuters) -Business heir Daniel Noboa will face significant challenges as he seeks to revive Ecuador’s battered economy and tackle rising crime during a truncated 17-month presidential term, after…
Canadian firms see inflation easing somewhat amid flagging demand
By Steve Scherer and David Ljunggren OTTAWA (Reuters) -More Canadian firms see inflation easing over the next two years than in the previous quarter, while the business outlook fell to its lowest…
Industrial metals to remain vulnerable to more softness near-term, says Goldman
(Reuters) – Goldman Sachs on Monday said it expects industrial metals markets to remain vulnerable to incremental softness in the near term due to deteriorating demand and the impact from higher interest…
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