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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…
Dalio says China-US relations are ‘on the brink of red lines’
By Carolina Mandl GREENWICH, Connecticut (Reuters) – Ray Dalio, founder of hedge fund Bridgewater Associates, said on Tuesday that the relationship between China and the United States is “on the brink of…
Fed’s Mester open to another rate hike if economy stays on current path
By Michael S. Derby NEW YORK (Reuters) – Cleveland Federal Reserve President Loretta Mester said on Tuesday she is open to raising interest rates again, potentially at the U.S. central bank’s next…
Elon Musk must face fraud lawsuit for disclosing Twitter stake late
By Jonathan Stempel NEW YORK (Reuters) – Elon Musk was ordered by a U.S. judge to face most of a lawsuit claiming he defrauded former Twitter shareholders last year by waiting too…
European shares fall 1% as bond yields surge
By Sruthi Shankar, Siddarth S and Shristi Achar A (Reuters) -European shares sank to fresh six-month lows on Tuesday, dragged lower by rate-sensitive utilities and miners as bets that U.S. interest rates…
Australia’s Computershare to sell US mortgage portfolio for $720 million
By Rishav Chatterjee (Reuters) -Australia’s Computershare said on Tuesday it was selling its U.S. mortgage services arm to asset manager Rithm Capital for $720 million, as the share registry company aims to…
Golden Goose takes step towards listing in Milan next year – sources
MILAN (Reuters) – Italian luxury sneaker brand Golden Goose has picked Lazard as financial adviser to explore a potential stock market listing in Milan, two sources close to the matter said on…
Netflix plans to raise prices after actors’ strike ends – WSJ
(Reuters) -Netflix is planning to raise the price of its ad-free service after the ongoing Hollywood actors’ strike ends, the Wall Street Journal reported on Tuesday, sending the streaming company’s shares up…
Japanese yen weakens past psychologically significant 150 per dollar level
NEWYORK/LONDON/TOKYO (Reuters) – The yen weakened to 150 to the dollar on Tuesday, a level some analysts think could prompt concerned Japanese authorities to intervene to prop up the currency. The dollar…
LinkedIn taps AI to make it easier for firms to find job candidates
By Stephen Nellis (Reuters) – LinkedIn on Tuesday said it will add artificial intelligence features to its core businesses, allowing recruiters to find job candidates by asking questions in natural language and…
Fed’s Bostic sees no ‘urgency’ to raise rates again, but cuts a long way off
ATLANTA (Reuters) -With the U.S. economy slowing and inflation falling, there is no urgency for the Federal Reserve to raise its policy interest rate again, but it will likely be “a long…
Brazil’s industrial output rises less than expected in August
SAO PAULO (Reuters) – Industrial production in Brazil rose slightly less than expected in August, data from government statistics agency IBGE showed on Tuesday, as the sector struggles to gather speed amid…
StanChart argues for cutting ‘systemic’ sanctions busting claims from lawsuit
By Sam Tobin LONDON (Reuters) – Standard Chartered sought on Tuesday to persuade a London court to remove from an investor lawsuit allegations that it broke U.S. sanctions against Iran in a…
PNC Bank buys $16.6 billion capital commitment portfolio from Signature Bridge Bank
(Reuters) – PNC Financial Services’ banking unit said on Tuesday that it had bought a portfolio from Signature Bridge Bank representing $16.6 billion in total commitments, including $9 billion of funded loans,…
‘Election fear’ stalks Argentina’s markets as volatile vote nears
By Walter Bianchi and Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s markets have a new cause for the wobbles – a presidential election whose outcome is anyone’s guess and could usher in…
UK shop price inflation at lowest in a year – BRC
LONDON (Reuters) – Prices in British store chains rose at the slowest pace in a year in September, according to industry data that adds to signs that the UK’s high inflation rate…
Metalworkers at Embraer’s Sao Jose dos Campos plant enter strike
SAO PAULO (Reuters) -Metalworkers at Brazilian planemaker Embraer’s Sao Jose dos Campos plant have voted to enter strike as they campaign for higher wages, with the local Sindmetal union saying on Tuesday…
Krispy Kreme looks to sell Insomnia Cookies unit
(Reuters) – Krispy Kreme is exploring options for its Insomnia Cookies unit including a sale, the company said on Tuesday, as it renews its focus on its main business of selling doughnuts.…
Top adviser Lazard says countries need debt mechanism to ‘strike a deal and move on’
By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – Countries going through a sovereign default need a debt rework mechanism that grants timely relief, even if that means finding a solution…
Eli Lilly to buy cancer-focused Point Biopharma for $1.4 billion
(Reuters) -Eli Lilly and Co will buy Point Biopharma Global for $1.4 billion, the companies said on Tuesday, gaining access to experimental therapies that enable precise targeting of cancer. Lilly has been…
Fed chief Powell has warned of economic pain. In York, Pa., he heard all about it
By Howard Schneider YORK, Pennsylvania (Reuters) -After helping build a floor under the economy during the pandemic only to put a squeeze on it as inflation soared, Federal Reserve Chair Jerome Powell…
Rouble recovers after slide past 100 vs dollar to 7-week low
By Alexander Marrow (Reuters) -The Kremlin on Tuesday stressed that there was no need for concern after the Russian rouble weakened past the symbolic threshold of 100 to the dollar in early…
Spice maker McCormick lifts profit forecast as higher prices cushion weaker demand
(Reuters) – McCormick on Tuesday raised its annual profit forecast as it expects higher prices for its spices and condiments to make up for slowing demand and a sluggish recovery in China…
Banks stocks back in vogue for hedge funds in September -Morgan Stanley
By Nell Mackenzie LONDON (Reuters) – Global hedge funds raced to load up on bullish positions in banks, insurance companies and capital markets as September drew to a close, Morgan Stanley said…
Brazil cenbank chief says rate cut pace ‘appropriate’ for the moment
By Fabricio de Castro SAO PAULO (Reuters) – Brazil’s current pace of interest rate cuts is “appropriate” for the moment, central bank chief Roberto Campos Neto said, after the monetary authority reduced…
Russian central bank: High rates likely needed throughout 2024
By Elena Fabrichnaya MOSCOW (Reuters) -Russia will probably need to keep interest rates high throughout 2024, the Bank of Russia’s Deputy Governor Alexei Zabotkin said on Tuesday, addressing the upper house of…
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