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…
Exclusive-Activist hedge fund Starboard eyes Rupert Murdoch’s News Corp -sources
By Svea Herbst-Bayliss (Reuters) -Starboard Value, the activist hedge fund run by Jeffrey Smith, has bought shares of News Corp, according to people familiar with the matter, a move that could presage…
Private equity backed US peach farm files for bankruptcy to pursue sale
By Dietrich Knauth NEW YORK (Reuters) – Prima, a private-equity backed farmer that is the largest producer of peaches and other stone fruit in North America, filed for Chapter 11 bankruptcy protection…
Oil, Treasuries, gold prices jump amid Mideast fears
By Caroline Valetkevitch NEW YORK (Reuters) – Oil, U.S. Treasuries and gold prices rose on Friday, with crude soaring nearly 6%, on safe-haven buying driven by the escalating Middle East conflict as…
Major US banks show profit boost, but some caution from consumers
NEW YORK (Reuters) -Major U.S. banks said on Friday higher interest rates boosted profits even though the economy was slowing and consumers showed signs of more cautious behavior. JPMorgan, Wells Fargo and…
Chinese embassy criticizes Costa Rica for 5G company restrictions
SAN JOSE (Reuters) – Costa Rican officials are undermining economic ties with China after authorities from the Central American country deemed Chinese companies a cybersecurity threat to the development of 5G networks,…
Yellen says US-backed IMF funding increase is ‘pretty likely’
By David Lawder and Andrea Shalal MARRAKECH, Morocco (Reuters) -U.S. Treasury Secretary Janet Yellen told Reuters on Friday that her plan for an “equi-proportional” increase in International Monetary Fund quota-based lending resources…
Ford to temporarily cut one shift at Michigan EV plant
By David Shepardson (Reuters) – Ford Motor said on Friday it will temporarily cut one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple…
Tesla fights $230 million fee sought by attorneys who sued over board pay
By Tom Hals WILMINGTON, Delaware (Reuters) -Tesla Inc urged a Delaware judge on Friday to reject $230 million in legal fees requested by a team of shareholder attorneys who won a settlement…
Yellen says Hamas attack on Israel met with ‘universal condemnation’ at global meetings
By Andrea Shalal and David Lawder MARRAKECH, Morocco (Reuters) -U.S. Treasury Secretary Janet Yellen on Friday told Reuters she heard “universal condemnation” at this week’s annual meetings of the International Monetary Fund…
Illumina to divest Grail within a year if it does not win challenge in EU court
(Reuters) -Illumina said on Friday it would divest cancer test maker Grail in 12 months, according to the terms of the European Commission’s order, if the life sciences company does not win…
New US SEC rules to shine a light on short selling
By Douglas Gillison and Chris Prentice (Reuters) -The U.S. Securities and Exchange Commission on Friday agreed to roll out new rules aimed at boosting transparency of short selling, the controversial practice of…
Kaiser Permanente, union coalition reach tentative deal after strike
By Leroy Leo and Manas Mishra (Reuters) -A union coalition for Kaiser Permanente healthcare workers reached a tentative labor deal with the hospital system on Friday that included across-the-board wage increases after…
Dollar up after inflation data boost
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar touched a one-week high against a basket of currencies on Friday, extending its gains from the previous session when hot U.S. consumer…
Japan tells G20 it may need to act in FX market
By Leika Kihara MARRAKECH, Morocco (Reuters) – Japanese Finance Minister Shunichi Suzuki said on Friday he told his G20 counterparts that Tokyo may need to take “appropriate action” in the exchange-rate market…
Oil surges nearly 6% after Israel begins ground raids into Gaza
By Stephanie Kelly NEW YORK (Reuters) -Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in the possibility that the conflict in…
Yellen says believes US housing inflation will still ease over time
By David Lawder and Andrea Shalal MARRAKECH, Morocco (Reuters) -U.S. Treasury Secretary Janet Yellen told Reuters on Friday that she still believes U.S. shelter inflation will continue to ease despite new consumer…
Factbox-What are global firms with presence in Israel doing after Hamas attack
(Reuters) – Several global companies have temporarily shut some operations in Israel and asked their employees to work from home after the country came under a surprise attack by Palestinian Islamist group…
Brazil shipping agents warn clients drought disrupting corn shipping on barges
By Ana Mano SAO PAULO (Reuters) – A severe drought is disrupting barge traffic on the Tapajos river in the Amazon rainforest, shipping agencies told clients this week as Brazil enters the…
UAW says new strikes at Detroit Three will come without notice
By David Shepardson and Joseph White DETROIT (Reuters) -United Auto Workers President Shawn Fain said on Friday that the union will not expand its strike against the Detroit Three automakers at the…
Citigroup profit beats estimates on trading, interest payments; CEO pushes overhaul
By Manya Saini and Tatiana Bautzer NEW YORK (Reuters) -Citigroup’s third-quarter profit beat estimates on Friday as it benefited from a surge in trading revenue, investment banking fees and interest payments while…
PNC Financial reports drop in profit, begins job cuts
By Jaiveer Shekhawat (Reuters) -PNC Financial Services Group said on Friday it is cutting about 4% of its workforce and reported a drop in third-quarter profit, as a surge in funding costs…
US consumer sentiment sours; dollar aiding inflation fight
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer sentiment deteriorated in October, with households expecting higher inflation over the next year, but labor market strength was likely to continue supporting consumer spending.…
Big U.S. banks warn capital hikes could weigh on green energy, equity products
By Pete Schroeder and Michelle Price WASHINGTON (Reuters) – Big bank executives warned a number of products and services could become uneconomical if new proposed bank capital hikes are adopted as written,…
UnitedHealth profit, forecast get lift from stabilizing medical costs
By Bhanvi Satija and Mariam Sunny (Reuters) -Healthcare conglomerate UnitedHealth beat analysts’ estimates for third-quarter profit on Friday, powered by lower-than-expected medical costs at its health insurance unit. Shares of the health…
Yellen: met with S.Korean finance minister, looking forward to trilateral with Japan
MARRAKECH, Morocco (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday said she met with South Korean Finance Minister Choo Kyung-ho, and looked forward to a trilateral meeting with Japan’s finance minister.…
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