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…
Blackstone holds initial talks with Disney for stake in India arm -sources
By M. Sriram and Aditya Kalra MUMBAI (Reuters) -Private equity firm Blackstone has held preliminary discussions with Walt Disney to acquire a stake in the Indian arm of the entertainment firm, two…
China’s Big Tree Cloud in $500 million SPAC deal for US listing
(Reuters) -U.S. blank-check firm Plutonian Acquisition Corp agreed to merge with Big Tree Cloud International Group for the Chinese personal care products company to go public in a deal that will value…
New Zealand’s economy poses challenge for election victor
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s major parties have promised voters cost-of-living relief if they win Saturday’s general election, but there is one major obstacle – a central bank that…
Qantas chairman to exit late 2024 as airline works to restore reputation
By Rishav Chatterjee and Praveen Menon (Reuters) -Australia’s Qantas Airways said on Wednesday that its chairman Richard Goyder will step down in late 2024, as the embattled airline renews its board in…
Bank of Queensland shares fall on dividend cut, profit plunge
By Echha Jain (Reuters) – Bank of Queensland shares fell nearly 5% on Wednesday, as the lender cut its dividend after annual profit plunged by about 70% amid depressed mortgage lending, and…
Multilateral development banks, keen to expand lending, to meet with ratings agencies
By Andrea Shalal MARRAKECH, Morocco (Reuters) – Senior executives at multilateral development banks will meet on Wednesday with the top credit ratings agencies, bank executives said, amid a broad push to expand…
Birkenstock prices US IPO at $46 per share
By Anirban Sen and Echo Wang NEW YORK (Reuters) -German premium footwear maker Birkenstock Holding priced its U.S. initial public offering (IPO) at the middle of its indicated price range at $46…
Fed’s Daly: Risks of doing too much vs too little ‘roughly balanced’
(Reuters) – With U.S. inflation down from its peak, the risk of raising interest rates too little no longer far outweighs the risk of raising rates too much, San Francisco Federal Reserve…
Utah sues TikTok, claiming app has harmful impact on children
By David Shepardson (Reuters) – Utah sued Chinese-owned app TikTok on Tuesday, accusing it of harming children by intentionally keeping young users spending unhealthy amounts of time on the short-video sharing platform.…
Dovish Fed officials boost Wall Street as bond yields retreat
By Sinéad Carew and Shashwat Chauhan (Reuters) – Wall Street indexes closed higher on Tuesday, to notch their third straight day of gains, after dovish comments from U.S. Federal Reserve officials pushed…
California regulator proposes $45 million penalty for PG&E over 2021 Dixie fire
(Reuters) – The California Public Utilities Commission (CPUC) on Monday proposed a $45 million shareholder-funded penalty against Pacific Gas and Electric Company (PG&E) for its connections to the destructive 2021 Dixie wildfire.…
Japan’s manufacturers’ sentiment weighed by overseas risks – Reuters Tankan
By Tetsushi Kajimoto TOKYO (Reuters) – Business morale at large Japanese manufacturers was subdued in October, although the services-sector mood edged up, the Reuters Tankan poll showed, as upbeat domestic demand helped…
IFC loans Morocco’s OCP $106 million to build two solar power plants
MARRAKECH, (Reuters) – Morocco’s state-owned phosphates and fertiliser producer OCP said on Tuesday it had signed an agreement with the International Finance Corporation (IFC), the World Bank’s investment arm, on a 100…
HP forecasts 2024 profit in line with estimates, boosts annual dividend
(Reuters) -HP Inc on Tuesday forecast fiscal 2024 earnings largely in line with estimates and raised its annual dividend, reflecting stabilizing demand in the personal computers market. Companies such as HP, Lenovo…
Finland says ‘outside activity’ likely damaged gas pipeline, telecoms cable
By Anne Kauranen and Terje Solsvik HELSINKI (Reuters) -A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea have been damaged in what may have been…
Marketmind: Fed pivot begins to crystallize
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A slump in U.S. bond yields, after another Federal Reserve official signaled…
US Labor Dept ‘disappointed’ by VU Manufacturing plant closure in Mexico
By Daina Beth Solomon MEXICO CITY (Reuters) – The U.S. Department of Labor said on Tuesday it is disappointed by the closure of VU Manufacturing’s facility in the northern Mexican city of…
Argentina’s beleaguered peso sinks to new low as election looms
By Jorge Otaola and Walter Bianchi BUENOS AIRES (Reuters) – The free-fall of Argentina’s troubled peso showed no signs of slowing on Tuesday, with the local currency surpassing the psychological barrier of…
Boeing opens tech center in Brazil, touting alternative fuels link
By Gabriel Araujo SAO JOSE DOS CAMPOS, Brazil (Reuters) – Boeing on Tuesday opened a technology and engineering center in Brazil, aiming to expand its global footprint and take advantage of expertise…
Washington Post will offer buyouts to employees to reduce staff
(Reuters) – The Washington Post plans to offer voluntary separation packages to employees across all functions, a company spokesperson said on Tuesday, as the newspaper looks to trim staff. The Post, which…
Labor group urges Biden to ease limits on hydrogen subsidies
By Valerie Volcovici WASHINGTON (Reuters) – The union representing U.S. carpenters has asked the Biden administration to ensure hydrogen projects powered by existing nuclear power plants will be able to access lucrative…
Walmart expands online healthcare benefits for US employees
(Reuters) -Walmart said on Tuesday it will expand online primary care benefits as part of its employee health insurance plan to its workers in 28 U.S. states. The retailer employs more than…
Birkenstock prices IPO at $46/share – WSJ
(Reuters) – The German premium footwear company Birkenstock priced its U.S. initial public offering (IPO) at $46 per share, the Wall Street Journal reported on Tuesday. (Reporting by Mrinmay Dey in Bengaluru;…
Peltz’s Trian up 3% this year even as Disney bet soured
By Svea Herbst-Bayliss NEW YORK (Reuters) – Nelson Peltz’s Trian Fund Management returned nearly 3% in the first nine months of the year, investors said on Tuesday, as his bet on Walt…
Court OKs Mallinckrodt restructuring, $1 billion cut to opioid settlement
By Dietrich Knauth (Reuters) -Drugmaker Mallinckrodt on Tuesday won court approval for a bankruptcy plan that cuts $1 billion from what it must pay opioid crisis victims, cancels existing equity shares, and…
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