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…
Birkenstock stumbles in underwhelming US market debut
By Manya Saini, Niket Nishant and Chibuike Oguh (Reuters) – Birkenstock’s stock ended more than 12% below its initial public offering (IPO) price on Wednesday in an underwhelming Wall Street debut that…
Internet companies report biggest-ever denial of service operation
By Raphael Satter WASHINGTON (Reuters) -Internet companies Google, Amazon and Cloudflare say they have weathered the internet’s largest-known denial of service attack and are sounding the alarm over a new technique they…
AIG reshuffles leadership to focus on underwriting business
(Reuters) – American International Group (AIG) on Wednesday appointed company insiders David McElroy, Don Bailey, and Jon Hancock to key positions in a bid to strengthen its underwriting performance. McElroy was appointed…
Illumina to divest cancer test maker Grail if it loses US or EU court appeal
(Reuters) -Illumina Inc said on Wednesday it will divest cancer test maker Grail as expeditiously as possible if the life sciences company loses either of the final appeals in U.S. or European…
Exxon secures lead in top US oilfield with $60 billion buy of shale rival Pioneer
By Sabrina Valle and Arathy Somasekhar HOUSTON (Reuters) -Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest…
Oil falls over 2% after Saudi pledge; investors keep wary eye on Israel
By Nicole Jao NEW YORK (Reuters) -Oil prices fell over 2% on Wednesday as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC…
Exclusive-Southeast Asia eyes hands-off AI rules, defying EU ambitions
By Fanny Potkin and Supantha Mukherjee SINGAPORE/STOCKHOLM (Reuters) – Southeast Asian countries are taking a business-friendly approach to artificial intelligence regulation in a setback to the European Union’s push for globally harmonised…
US Senator Warren concerned Exxon’s plan to buy Pioneer will raise costs
WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren, a Democrat on the Senate Banking panel, said on Wednesday she was concerned that Exxon Mobil’s agreement to buy U.S. rival Pioneer Natural Resources would…
Bond yields ease as Middle East fighting goes on, stocks gain
By Caroline Valetkevitch NEW YORK (Reuters) – Global stock indexes rose on Wednesday as minutes from the last U.S. Federal Reserve meeting showed policymakers on cautious footing last month, while benchmark 10-year…
Exxon deal puts spotlight on M&A targets but heightened scrutiny a dampener
By Mrinalika Roy (Reuters) – Exxon Mobil’s mega $60 billion deal for shale rival Pioneer Natural Resources could be a catalyst that will drive further consolidation in the U.S. oil and gas…
Biden administration takes aim at junk fees across the economy
By Diane Bartz, Jeff Mason and Douglas Gillison WASHINGTON (Reuters) -The Biden administration took another shot at unpopular junk fees on Wednesday by proposing that businesses be required to disclose mandatory fees…
Fed’s Collins says central bank may have to hike again if data calls for it
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Boston President Susan Collins said Wednesday while the odds of the economy escaping a recession have grown, it’s possible the…
Ozempic’s early success in kidney disease trial drags down dialysis stocks
By Mariam ESunny (Reuters) – Shares of dialysis service providers fell sharply on Wednesday after Novo Nordisk’s Ozempic showed early signs of success in delaying the progression of kidney disease in diabetes…
Morgan Stanley sees greater chance for Brazilian IPOs next year
By Paula Arend Laier SAO PAULO (Reuters) – While Brazilian investors have endured two straight years without any local companies launching initial public offerings (IPOs), that could change in 2024, a senior…
Fed officials adopted more cautious stance in September as economic uncertainty grew
By Howard Schneider WASHINGTON (Reuters) -A growing sense of uncertainty around the path of the U.S. economy, with volatile data and tightening financial markets posing risks to growth, pushed Federal Reserve policymakers…
Goldman Sachs agrees to sell GreenSky to Sixth Street-led consortium
By Saeed Azhar and Niket Nishant NEW YORK -Goldman Sachs has agreed to sell GreenSky, its home improvement lender, and associated loans to a consortium led by investment firm Sixth Street Partners,…
Dollar steady on underlying moderate PPI data, dovish Fed officials
By Herbert Lash and Iain Withers NEW YORK/LONDON (Reuters) -The dollar was steady on Wednesday after a core reading of U.S. producer prices showed underlying inflation moderated further in September, leading the…
US natgas output and demand to hit record highs in 2023 -EIA
(Reuters) – U.S. natural gas production and demand will rise to record highs in 2023, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Wednesday. EIA…
Money now, shares later: more IMF countries voice support for pragmatic IMF funding boost
By David Lawder MARRAKECH, Morocco (Reuters) – Support increased on Wednesday for the U.S.-backed call to boost the International Monetary Fund’s quota lending resources without shareholding changes, according to statements from various…
Colombia’s EPM awards contract worth $254 million for Hidroituango dam
BOGOTA (Reuters) – Colombian company Empresas Publicas de Medellin (EPM) has awarded a contract worth 1.075 trillion pesos ($254 million) to a Colombian-Chinese consortium to finish civil engineering projects at the Hidroituango…
Disneyland, Disney World lift some park ticket prices
(Reuters) – Walt Disney Co said on Wednesday it is raising some theme-park ticket prices for its Disneyland resort in California and Walt Disney World in Florida, weeks after the entertainment giant…
Ericsson books $3 billion impairment, says Q3 core profit fell 39%
STOCKHOLM (Reuters) -Ericsson on Wednesday announced a 32 billion Swedish crown ($2.9 billion) impairment charge related to its acquisition last year of Vonage, and said core profits fell in the third quarter…
Exxon to buy U.S. rival Pioneer Natural in $59.5 billion deal
(Reuters) – Exxon Mobil said on Wednesday it would buy giant shale producer Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, propelling the U.S. oil and gas producer to…
Exxon pushes deeper into top US oilfield with $60 billion deal for Pioneer
(Reuters) – Exxon Mobil has agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the Permian Basin.…
Petrie joins Wall Street powerhouses on Exxon-Pioneer megadeal
By Anirban Sen and David French NEW YORK (Reuters) – Petrie Partners, a boutique advisory firm known to few outside the energy industry, advised on Pioneer Natural Resources Co’s $60 billion sale…
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