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…
IMF says Latin American, Caribbean region needs to spend with discipline, grow revenues
MARRAKECH, Morocco (Reuters) -The International Monetary Fund said fiscal policy in Latin America and the Caribbean has been “prudent,” but governments need to increase revenues as there are not many options amid…
Contract talks break down between Hollywood actors, studios
By Lisa Richwine LOS ANGELES (Reuters) -Negotiations between Hollywood studios and the SAG-AFTRA actors’ union were suspended on Wednesday as the two sides clashed over streaming revenue, the use of artificial intelligence…
JPMorgan profit beats estimates on record interest income, First Republic purchase
By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase beat expectations for third-quarter profit on Friday as rising borrowing costs and its acquisition of failed First Republic Bank drove income from interest…
Explainer-UAW chief ratchets up pressure on Detroit Three as deal talks drag on
(Reuters) – The United Auto Workers (UAW) union on Friday refrained from expanding its coordinated strike against the Detroit Three automakers but warned it may now call for more strikes at anytime…
TikTok to take proactive steps to address issues in Malaysia
KUALA LUMPUR (Reuters) – Short video app TikTok is committed to taking proactive measures to address issues raised by Malaysia, a spokesperson said, after its government said the app was not fully…
BlackRock signals M&A hunger after sharp drop in inflows
By Jaiveer Shekhawat and David Randall (Reuters) -A sharp drop in net inflows took shares of BlackRock down around 1% on Friday despite the company handily beating third-quarter profit estimates, as the…
UAW holds off on expanding Detroit Three strikes, changes strategy
(Reuters) – The United Auto Workers (UAW) did not announce new strikes against the Detroit Three on Friday but its president warned of a strategy shift under which the union may call…
Fed’s Harker says rate hikes likely over amid ongoing disinflation
By Michael S. Derby NEW YORK (Reuters) -Philadelphia Federal Reserve President Patrick Harker said on Friday he believes the U.S. central bank is likely done with its cycle of interest rate hikes…
Microsoft closes $69 billion Activision deal after Britain’s nod
By Paul Sandle, Yadarisa Shabong and Aditya Soni LONDON (Reuters) – Xbox maker Microsoft closed its $69 billion deal for Activision Blizzard on Friday, swelling its heft in the video-gaming market with…
Dollar General shares pop on Vasos’ return as CEO
By Deborah Mary Sophia (Reuters) -Shares of Dollar General jumped nearly 8% on Friday, as investors drew confidence from the return of former CEO Todd Vasos to the top job to help…
IMF says recent El Salvador mission was ‘very productive’
By Jorgelina do Rosario and Rodrigo Campos MARRAKECH, Morocco (Reuters) – The International Monetary Fund’s engagement with El Salvador has been “very productive” following a recent visit from a negotiating team, but…
U.S. antitrust enforcer says pressing on with fight against Microsoft/Activision deal
By Diane Bartz WASHINGTON (Reuters) – The U.S. Federal Trade Commission said on Friday it remained focused on its appeal opposing Xbox maker Microsoft’s now-closed $69 billion deal to buy Activision but…
Novo Nordisk raises full-year guidance again as US sales of Wegovy, Ozempic fly
COPENHAGEN (Reuters) -Novo Nordisk on Friday raised its outlook for its full-year sales and operating profit for the third time this year, reflecting strong demand for its weight-loss drug Wegovy and diabetes…
US allows Samsung, SK Hynix to keep getting US tools in China
WASHINGTON (Reuters) -The United States gave permission for South Korea’s SK Hynix and Samsung to keep receiving certain U.S. chipmaking tools at their Chinese plants, the Commerce Department said in a statement…
US consumer sentiment weakens in October
WASHINGTON (Reuters) – U.S. consumer sentiment fell sharply in October as households anticipated higher inflation over the next year, a survey showed on Friday. The University of Michigan’s preliminary reading on the…
Foreigners pull $13.8 billion from EM portfolios in September -IIF
By Rodrigo Campos NEW YORK (Reuters) – Non-residents pulled $13.8 billion from their emerging market portfolios in September as the prospect of higher interest rates in the developed world for a longer…
IMF: Russia’s war spending fuels short-term growth, longer-term outlook ‘dim’
By Alexander Marrow (Reuters) – Huge fiscal spending on the military is fuelling short-term economic growth in Russia, but looking at the longer term picture the outlook is “dim”, the International Monetary…
Canadian home sales fall for 3rd month; CREA lowers full-year forecast
By Fergal Smith TORONTO (Reuters) -Canadian home sales fell for a third straight month in September and the industry group that produces the data downgraded its forecast for the full year, anticipating…
Global market reaction to a week of war in Israel
By Marc Jones LONDON (Reuters) – Below are five charts showing the volatile response of global financial markets to this week’s war between Israel and Hamas. 1/TAKING STOCK MSCI’s main world stocks…
Israel to provide $6 billion war insurance cover for Israeli airlines
JERUSALEM (Reuters) -Israel’s parliamentary finance committee approved a plan to provide a state guarantee of $6 billion to cover insurance against war risks to Israeli airlines, the Finance Ministry said on Thursday.…
World Bank, multilateral development banks jointly seek to boost lending power
MARRAKECH, Morocco (Reuters) – The World Bank on Friday said it is bolstering collaboration with nine multilateral development banks (MDBs) to accelerate its vision of a liveable planet free of poverty. It…
US equity funds suffer outflows amid rate worries, Middle East conflict
(Reuters) – U.S. equity funds suffered substantial outflows in the week ending Oct. 11, driven by concerns over persistent higher U.S. interest rates and escalating geopolitical tensions in the Middle East. According…
ECB policymakers eye springtime push to cut payments on banks’ deposits – sources
By Balazs Koranyi MARRAKECH (Reuters) – European Central Bank policymakers are planning a springtime push to cut interest payments made to commercial banks, in part to recoup some of the costs associated…
Australian fund IFM holds investor meeting in Spain as it seeks to expand
By Pietro Lombardi MADRID (Reuters) – Australian fund IFM Investors will bring major international investors to Madrid next week as it hopes to expand its presence in the country in sectors tied…
Young Americans cut spending, shun restaurants as prices rise -study
By Nupur Anand and Lananh Nguyen NEW YORK (Reuters) – Most young Americans have cut their spending in response to persistent inflation over the past year, a Bank of America survey showed…
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