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…
Walgreens maps out $1 billion in cost cuts as profit forecast underwhelms
(Reuters) -Walgreens Boots Alliance said on Thursday that it expected to cut at least $1 billion in costs in 2024 as part of its ongoing efforts, which include shutting unprofitable stores, after…
U.S. retirees to see 3.2% rise in annual benefits in 2024
WASHINGTON (Reuters) – U.S. retirees and government benefits recipients will get a 3.2% increase next year, the federal government said on Thursday, announcing its smallest annual increase in three years after beneficiaries…
India’s retail inflation eases to three-month low in September
By Aftab Ahmed NEW DELHI (Reuters) – India’s retail inflation eased to a three-month low in September on the back of softer vegetable prices, but remained above a target of 4% that…
World Bank governors endorse ‘liveable planet’ vision – German minister
By Andrea Shalal MARRAKECH, Morocco (Reuters) -World Bank shareholders on Thursday endorsed further reforms and a new vision statement committing the multilateral development bank to work for “a world free of poverty…
French economy to grow modestly in third, fourth quarters -INSEE
PARIS (Reuters) – France is on course for modest economic growth heading into the end of the year as lower food inflation offers consumers some relief, the INSEE official statistics agency said…
Companies fear lawsuits from California’s climate disclosure rules
By Isla Binnie (Reuters) – California’s new emissions laws could force companies to reveal more about their carbon footprint to the U.S. Securities and Exchange Commission (SEC), raising the risk of legal…
Explainer-Goldman Sachs and its role in the multi-billion dollar 1MDB scandal
KUALA LUMPUR (Reuters) – Goldman Sachs Group has sued Malaysia in a British arbitration court, as tensions escalate over a settlement agreement on the bank’s role in the massive 1MDB corruption scandal.…
Wall St bonuses may drop 16% as higher rates threaten businesses – NY Comptroller
(Reuters) -Wall Street bonuses could fall 16% this year as interest rates possibly staying higher for longer threatens the performance of financial companies, according to New York State Comptroller Thomas DiNapoli. The…
Fastenal beats profit estimates on strong demand for onsite products
By Abhinav Parmar -Fastenal beat estimates for third-quarter profit on Thursday, driven by higher demand for its onsite products such as, safety gloves, fasteners and power tools, sending its shares up more…
Domino’s Pizza banks on promotions, loyalty program to revive demand
By Juveria Tabassum and Deborah Mary Sophia (Reuters) -Domino’s Pizza on Thursday bet on a revival in U.S. demand on the back of its spruced-up loyalty program and promotional offers to help…
Citigroup’s board to meet in Singapore for the first time since 2011
SINGAPORE (Reuters) – Citigroup Inc said on Thursday that its board of directors will meet in Singapore for the first time since 2011 as a show of commitment to the city state.…
China bans new offshore brokerage accounts to prevent ‘bypassing’ of forex controls
By Selena Li and Summer Zhen HONG KONG (Reuters) -China has for the first time issued a notice prohibiting domestic brokerages and their overseas units from taking on new mainland clients for…
Exxon buying Pioneer will trigger $71 million in executive windfalls
By David French NEW YORK (Reuters) -Senior management at Pioneer Natural Resources will likely be out of a job once the company’s $60 billion sale to Exxon Mobil is completed, but the…
IEA, OPEC predictions of 2024 oil demand growth diverge further
By Alex Lawler and Natalie Grover LONDON (Reuters) – The gap between two leading oil forecasters’ views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a…
Viasat says it will not replace satellite that malfunctioned
LONDON (Reuters) – Viasat said it expects to recover less than 10% of the planned throughput on ViaSat-3 F1, its satellite that malfunctioned during deployment in July, but it was confident it…
How stars aligned for Exxon’s $60 billion deal with Pioneer
By Sabrina Valle and David French HOUSTON/NEW YORK (Reuters) – Exxon Mobil Corp’s resurgence under CEO Darren Woods and the upcoming retirement of Pioneer Natural Resources CEO Scott Sheffield were key to…
With rates near peak, ECB focus shifts to growth, bond spreads
By Balazs Koranyi and Francesco Canepa MARRAKECH/FRANKFURT (Reuters) -European Central Bank policymakers expressed cautious optimism on Thursday that inflation was on its way back to 2% even without more rate hikes and…
Instant View: Gas and shelter costs send US consumer prices higher in Sept
NEW YORK (Reuters) – U.S. consumer prices increased in September amid higher costs for rent and gasoline, but underlying inflation is slowing, supporting financial market expectations that the Federal Reserve would not…
Goldman Sachs seen headed to steep earnings drop as deal-making lags
By Saeed Azhar NEW YORK (Reuters) – Goldman Sachs appears headed to another set of weak quarterly earnings as deal-making lags and the bank retreats from a loss-making consumer business. Goldman is…
Reversing course, Bank of Russia endorses new currency controls
By Elena Fabrichnaya, Alexander Marrow and Darya Korsunskaya MOSCOW (Reuters) – Russia’s central bank on Thursday endorsed President Vladimir Putin’s decision to reimpose currency controls, a measure it had been reluctant to…
Biden to meet with Target, IBM and other CEOs
WASHINGTON (Reuters) – President Joe Biden will meet with the chief executives of several large companies on Thursday to get their perspective on the U.S. economy, a White House official said. The…
New Jersey Could Soon Be the Indoor Pickleball Capital of America
TRENTON, NJ – Visionary entrepreneur Samrat “Sam” Sood is joining forces with Pickleball Kingdom Franchising to launch 20 state-of-the-art indoor pickleball clubs throughout New Jersey. The move aims to promote the sport…
Rouble jumps against dollar after Putin reimposes currency controls
By Alexander Marrow (Reuters) -Russia’s rouble leapt against the U.S. dollar on Thursday after President Vladimir Putin ordered the mandatory sale of foreign currency revenues for some exporters to buttress the currency.…
More work to do in tackling non-bank risks, says FSB’s Knot
By Huw Jones LONDON (Reuters) -Higher interest rates have so far not seriously undermined the global financial system, but “there is work to do” in tackling liquidity issues and hidden leverage in…
Sri Lanka says China debt deal covers $4.2 billion as other talks drag on
By Uditha Jayasinghe, Jorgelina do Rosario and Leika Kihara COLOMBO/MARRAKECH (Reuters) – Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of…
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