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…
Instacart IPO banks tout e-grocery shopping potential, but challenges loom
By Savyata Mishra (Reuters) -Most Wall Street brokerages, including J.P.Morgan and Goldman Sachs, kicked off coverage on Instacart with a bullish view, betting on the grocery delivery app’s growth amid a shift…
BlackRock Investment Institute raises rating of long-dated US Treasuries
(Reuters) – BlackRock Investment Institute on Monday raised the rating of long-dated U.S. Treasuries to “neutral” from “underweight” as it sees yields approaching a peak. “We now see about equal odds that…
Manchester United slides as Ratcliffe’s stake bid report dents buyout hopes
(Reuters) -Shares of Manchester United fell about 10% on Monday after reports that British billionaire Jim Ratcliffe is looking to acquire a 25% stake in the soccer club raised concerns that a…
Novo Nordisk in $1.3 billion deal to buy hypertension drug
COPENHAGEN (Reuters) – Novo Nordisk has agreed to buy ocedurenone, a drug for uncontrolled hypertension with potential application in cardiovascular and kidney disease, from KBP Biosciences for up to $1.3 billion, the…
Global smartphone market slumps to lowest Q3 level in decade – Counterpoint
(Reuters) – The global smartphone market contracted by 8% to its lowest third-quarter level in a decade on subdued demand for major brands including Apple and Samsung in most developed markets, according…
Fed’s Harker says high interest rates closing off housing for new buyers
By Michael S. Derby NEW YORK (Reuters) – Philadelphia Federal Reserve President Patrick Harker said on Monday the current level of interest rates has nearly killed off access to the housing market…
U.S, EU business groups push for steel deal, minerals drive at summit
By Philip Blenkinsop BRUSSELS (Reuters) – The largest U.S. and EU business federations urged leaders meeting for a summit on Friday to resolve a lingering dispute over Trump-era metals tariffs and increase…
S&P 500 rally in Q4 “more likely than not” despite headwinds – Morgan Stanley
(Reuters) – A rally in the S&P 500 in the fourth quarter of 2023 “is more likely than not”, Morgan Stanley’s Michael Wilson said in a note. Wilson and other strategists said…
WeWork names David Tolley as CEO to boost turnaround efforts
(Reuters) -WeWork on Monday named interim Chief Executive David Tolley as its CEO, tasking the former Blackstone executive with turning around the flexible workspace provider’s ailing business. WeWork’s shares were up 2%…
Italy unveils tax-cutting 2024 budget amid debt worries
By Giuseppe Fonte and Gavin Jones ROME (Reuters) -Italy’s government on Monday approved a budget for next year with measures worth around 24 billion euros ($25.3 billion) in tax cuts and increased…
As global debt worries mount, is another crisis brewing?
By Yoruk Bahceli, Dhara Ranasinghe and Maria Martinez LONDON (Reuters) – Record debts, high interest rates, the costs of climate change, health and pension spending as populations age and fractious politics are…
Nigeria’s September inflation rate at highest in two decades
By Elisha Bala-Gbogbo ABUJA (Reuters) -Nigeria’s annual inflation rose in September to its highest level in about two decades at 26.72%, amid a worsening cost-of-living crisis in Africa’s largest economy. The September…
As the Season Closes, Island Beach Popup Restaurant is a Model for Success at the Shore
SEASIDE PARK, NJ — As summer heated up at the Jersey Shore this summer, so did he buzz around the seasonal pop-up, Red Fox Beach Bar & Grill. Situated in Island Beach,…
Japan’s yen still perceived as safe-haven asset – MOF’s Kanda
By Tetsushi Kajimoto and Satoshi Sugiyama TOKYO (Reuters) – Japan’s top financial diplomat said on Monday the yen was still perceived as a safe haven asset like the Swiss franc and U.S.…
Chevron LNG workers in Australia reaffirm strike plans
(Reuters) – Workers at Chevron’s two liquefied natural gas (LNG) plants in Australia reaffirmed their plan to resume strikes as mediated talks continued on Monday, with the U.S. energy major saying that…
Fed’s Goolsbee says fall in US inflation is not just a blip- FT
(Reuters) – Chicago Fed president Austan Goolsbee said it is “undeniable” that the slowdown in U.S. inflation is a trend rather than a momentary blip, despite a recent string of economic data…
Israeli lawmaker urges cbank to lower rates amid conflict
By Steven Scheer JERUSALEM (Reuters) – The head of Israel’s parliamentary finance committee on Monday called on Bank of Israel Governor Amir Yaron to lower short-term interest rates as one measure to…
UBS pushes out S&P 500 mid-2024 target forecast to year-end
(Reuters) – UBS said it now expects the S&P 500 to hit 4,700 points only by December 2024, instead of the middle of the year as it forecast earlier, due to expectations…
Tesla earnings: investors watching margins, deliveries, self-driving
By Akash Sriram (Reuters) – Tesla’s margins are likely to drop in the third quarter and take a bigger hit in the last three months of 2023, leaving investors fretting about more…
Marketmind: MidEast tension keeps markets on edge
Although price moves remain contained in the absence of a dramatic weekend escalation, world markets are still on edge as Middle East tension builds without obvious resolution. Disputed reports of a temporary ceasefire…
Fed’s Powell faces ‘what, me worry?’ moment of spiking bond yields, war, political stalemate
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve officials may not raise interest rates when they meet in two weeks but neither will they say their 19-month drive to hike borrowing costs…
In the Market-Inside a startup’s struggle in a higher-for-longer world
By Paritosh Bansal (Reuters) -Things were looking up for Tractiv in January, when the data tracking software startup was on the cusp of a deal with Marvel Studios. Now, it is on…
Yellen: Too early to speculate on economic consequences from Israel conflict
LONDON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Monday it was too early to speculate on the economic consequences of the Israeli-Palestinian conflict, and that the impact would depend on…
Canadian autoworkers union Unifor ratifies GM labor deal
(Reuters) – Canadian labor union Unifor on Sunday said its members had voted in favor of a contract with General Motors, a relief for the automaker as it also faces a larger…
Asian FX reserves slip as central banks grapple with strong dollar
By Jaspreet Kalra and Ankur Banerjee SINGAPORE/MUMBAI (Reuters) – Asia’s central banks have spent this year defending their currencies against a strong U.S. dollar, paring foreign exchange reserves to multi-month lows in…
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