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…
Samsung Q3 profit set to slump 80% as chip losses persist
By Joyce Lee SEOUL (Reuters) – Samsung Electronics’ third-quarter profit is expected to drop 80% from a year earlier as the effects of an ongoing global chip glut drive losses in what…
US Treasury futures rise on flight to quality, cautious Fed speak
By Davide Barbuscia NEW YORK (Reuters) – U.S. Treasury futures rose on Monday on expectations that investors will buy bonds as a safe haven during the conflict in the Middle East and…
US automakers increase strike layoffs by more than 800
By David Shepardson (Reuters) – Chrysler-parent Stellantis said on Monday it is laying off another 570 workers and General Motors announced cuts of nearly 200 employee due to the United Auto Workers…
Marketmind: All boats rise on safe-haven, Fed view
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are likely to open higher on Tuesday following a curious…
Thousands of Las Vegas workers to picket MGM, Caesars casinos
By Doyinsola Oladipo (Reuters) -Thousands of Las Vegas workers will picket MGM Resorts and Caesars Entertainment casinos on Thursday for the first time in nearly two decades, the unions said, as they…
Oil prices surge on fears of Mideast conflict adding to supply tightness
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices surged 4% on Monday, recouping some of last week’s steep losses, as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears…
Activist Peltz wants ‘multiple’ seats at Disney, owns $2.5 billion stake in Mouse House
By Svea Herbst-Bayliss and Dawn Chmielewski (Reuters) -Activist investor Nelson Peltz is planning a new board challenge at Walt Disney less than 10 months after the home of Mickey Mouse laid out…
Exclusive-US, Venezuela in talks for fresh oil sanction exemptions -sources
By Vivian Sequera, Andrew Mills and Marianna Parraga CARACAS/DOHA/HOUSTON (Reuters) – Venezuela and the U.S. have progressed in talks that could provide sanctions relief to Caracas by allowing at least one additional…
Exxon-Pioneer tie up could squeeze US shale oil suppliers, pipelines
By Arathy Somasekhar HOUSTON (Reuters) -Top U.S. oil producer Exxon Mobil’s planned acquisition of the No. 1 Permian shale producer Pioneer Natural Resources could further restrain output growth in the largest U.S.…
Several US big banks allow staff in Israel to work from home
By Niket Nishant, Lananh Nguyen, Manya Saini and Jaiveer Shekhawat (Reuters) – Several U.S. banks have told their staff in Israel to work from home for the near future as the country…
Dollar gains versus euro as Israel-Palestinian conflict spurs safety bid
By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) -The safe-haven dollar rose on Monday against the euro as military clashes between Israel and the Palestinian Islamist group Hamas raised concerns that…
Top Fed officials nod to higher bond yields as cause for caution on rates
By Howard Schneider and Ann Saphir DALLAS (Reuters) -Top ranking Federal Reserve officials indicated Monday that rising yields on long-term U.S. Treasury bonds, which directly influence financing costs for households and businesses,…
Airbus confirms 55 jet deliveries in September
PARIS (Reuters) – Airbus on Monday confirmed it had delivered 55 aircraft in September, bringing the nine-month total to 488 jets. Deliveries included the first A350 for Air India, part of a…
World Bank urges cooling of Israel-Gaza conflict as annual meetings start
By Andrea Shalal and David Lawder MARRAKECH, Morocco (Reuters) -The World Bank on Monday urged a “rapid de-escalation” of the fighting in Israel and Gaza as the violence cast a pall over…
Investors on guard for oil price spike amid Middle East turmoil
By Lewis Krauskopf and Naomi Rovnick (Reuters) -Fears of a widening conflict in the Middle East are threatening more volatility for investors after a painful stretch in U.S. markets. Israel’s troops were…
Head of Exxon’s shale oil business faces sexual assault charge in Texas
By Gary McWilliams HOUSTON (Reuters) -The head of Exxon Mobil’s shale oil and gas business, a unit involved in merger talks with rival Pioneer Natural Resources, was arrested at a Texas hotel…
Italy, fearing Eurostat deficit revision, seeks EU flexibility
By Giuseppe Fonte and Gavin Jones ROME (Reuters) – Italy is lobbying its European Union partners with increasing urgency to approve more flexible budget rules, according to government sources, as bond spreads…
Analysis-Why Elon Musk might lose his latest battle with the SEC over Twitter probe
By Chris Prentice WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) has taken Elon Musk to court again, and this time it may win. The agency on Thursday asked a federal…
South Korean firms get indefinite waiver on US chip gear supplies to China
By Joyce Lee SEOUL (Reuters) -Samsung Electronics and SK Hynix will be allowed to supply U.S. chip equipment to their China factories indefinitely without separate U.S. approvals, South Korea’s presidential office and…
Exclusive-Ukraine sounds out bondholders on debt restructuring, new financing -sources
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) -Ukraine has been sounding out major investors over plans to restructure the country’s $20 billion in international debt and the possibility of raising…
Progress in reforming development banks ‘quite limited,’ new tool shows
By Andrea Shalal MARRAKECH, Morocco (Reuters) -A new tool launched on Monday to track reforms by the World Bank and the five biggest multilateral development banks (MDBs) shows that broad changes are…
Higher bond yields may leave less for Fed to do on rates, Logan says
By Ann Saphir DALLAS (Reuters) -The recent rise in long-term U.S. Treasury yields, and tighter financial conditions more generally, could mean less need for the Federal Reserve to raise interest rates further,…
Bank of Israel to sell up to $30 billion of forex to stabilise shekel
By Steven Scheer and Ari Rabinovitch JERUSALEM (Reuters) – The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open market, the central…
Gender gap pioneer Goldin wins Nobel economics prize
By Johan Ahlander, Simon Johnson STOCKHOLM (Reuters) -Harvard economic historian Claudia Goldin won the 2023 Nobel economics prize for her work exposing the causes of deeply rooted wage and labour market inequality…
Middle East violence rattles markets, oil jumps
LONDON/NEW YORK (Reuters) – Oil surged, along with U.S. and European defense stocks, while airline shares plunged after Israel pounded the Palestinian enclave of Gaza in retaliation for one of the bloodiest…
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