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Roche seeks US tariff relief in direct talks with Trump administration

By Ludwig Burger (Reuters) -Swiss drugmaker Roche is petitioning the U.S. government in direct talks for import tariff exemptions, arguing the products it ships into the United States are offset by its exports of U.S.-made drugs and diagnostics. "As long as we produce the same amount in the U.S. as we import ... we would not be impacted by tariffs. That’s kind of the discussion we are trying to

2025-04-24T08:01:08Z

JPMorgan promotes 227 employees to MD level in key banking division

(Reuters) - JPMorgan Chase has promoted 227 employees in its commercial and investment bank (CIB) division to the coveted role of managing director, according to a memo seen by Reuters on Thursday. Among the newly appointed MDs, 184 are part of CIB's core businesses, including global banking, markets, payments and securities services. The managing director title is one of the most sought-after

2025-04-24T18:46:42Z

Michelin's sales drop less than expected in first quarter

(Reuters) -Tyre maker Michelin reported a slightly smaller than expected drop in first-quarter sales as its core automotive, scooters and motorcycles division outperformed. Michelin's sales fell 1.9% from a year earlier to 6.52 billion euros ($7.40 billion), compared with a forecast of 6.43 billion euros in a company-provided consensus. "Volumes were down 7.3% due to lower original equipment

2025-04-24T17:11:42Z

South Korea, US aim for trade package before tariff pause ends in July

By Joyce Lee, Hyunjoo Jin and Nandita Bose SEOUL/WASHINGTON (Reuters) -South Korea and the United States agreed to craft a trade package aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July, Seoul's delegation in Washington said after a first round of trade talks. The U.S. and South Korea had a "very successful" meeting on Thursday, U.S. Treasury Secretary

2025-04-25T03:02:17Z

Volvo Cars appoints new CFO in latest management change

STOCKHOLM (Reuters) -Sweden-based Volvo Cars has appointed Fredrik Hansson as its new chief financial officer (CFO) effective immediately, it said on Thursday in the latest change to the auto maker's management. Last month, Volvo Cars unexpectedly brought back former CEO Hakan Samuelsson to head the group for the next two years at a turbulent time marked by mounting tariff pressures and market

2025-04-24T15:41:36Z

UK's Balfour Beatty secures $889 million Texas highway contract

(Reuters) -British construction and infrastructure group Balfour Beatty said on Thursday it had secured a contract worth $889 million from the Texas Department of Transportation to reconstruct part of the state's Interstate 30 highway. Under the contract, the London-headquartered company said it will reconstruct a 3.7 kilometre (2.3 miles) section of the route on the east side of Dallas County in

2025-04-24T08:01:11Z

Chinese customers are rejecting new jets due to tariffs, Boeing confirms

By Lisa Barrington SEOUL (Reuters) -Boeing's Chinese customers are refusing delivery of new planes built for them due to tariffs, the U.S. planemaker has confirmed, as a third Boeing jet started returning to the U.S. on Thursday. "Due to the tariffs, many of our customers in China have indicated that they will not take delivery," CEO Kelly Ortberg said during a first quarter earnings call on

2025-04-24T06:36:09Z

Unilever says it didn't seek Ben & Jerry's CEO ouster, urges lawsuit be dismissed

By Jonathan Stempel NEW YORK (Reuters) -Unilever on Friday rejected the claim it tried to oust former Ben & Jerry's chief executive Dave Stever for supporting his company's progressive social activism, saying it offered him a bigger role and more pay but he chose to resign. In a court filing, Unilever also sought the dismissal of Ben & Jerry's lawsuit seeking to stop its alleged efforts to

2025-04-25T23:53:21Z

Shareholders approve Carrefour bid to take Brazil unit private

SAO PAULO (Reuters) - Shareholders in Carrefour's Brazil unit, Atacadao SA, voted to take it private after a bid by the French retailer to do so, according to a securities filing on Friday. Carrefour will pay 8.50 reais ($1.50) in cash per class A preferred share held in Carrefour Brasil, as proposed by the parent company earlier in April. Newspaper Valor Economico reported, citing sources, that

2025-04-25T16:32:55Z

Boeing poised to resell jets as tariffs hit China trade

By Lisa Barrington, Tim Hepher and Abhijith Ganapavaram SEOUL/PARIS (Reuters) -Boeing is looking to resell potentially dozens of planes locked out of China by tariffs after repatriating a third jet to the United States in a delivery standoff that drew new criticism of Beijing from U.S. President Donald Trump on Thursday. The move to prevent a repeat of the costly build-up of undelivered jets

2025-04-24T17:11:51Z

Chile regulator greenlights Codelco-SQM lithium joint venture

SANTIAGO (Reuters) -Chile's competition regulator approved a deal between Codelco, the state-run copper giant, and SQM to form a joint venture to expand lithium production in the Atacama salt flats, Codelco said in a statement on Thursday. The statement said the local FNE regulator's approval joins decisions reached in the European Union, Brazil, Japan, South Korea and Saudi Arabia, but approval

2025-04-24T14:01:36Z

Mobileye Global beats revenue estimates on strong self-driving tech demand

(Reuters) -Mobileye Global beat Wall Street expectations for first-quarter revenue on Thursday, benefiting from an increase in orders for its driver-assistance technology from automakers. The company has been seeing an increase in demand for its systems as customers work through their excess inventory of auto chips they had stockpiled during the pandemic to avoid a crunch. Mobileye now expects

2025-04-24T12:21:28Z

Nissan now expects wider annual loss of at least $4.9 billion due to impairment charges

TOKYO (Reuters) -Nissan Motor on Thursday said it now expects a net loss of 700-750 billion yen ($4.91 billion-$5.26 billion) for the financial year that ended in March due to impairment charges as the troubled automaker restructures. That compares with a previous forecast for a loss of 80 billion yen. The Japanese company booked impairments of more than 500 billion yen in North America, Latin

2025-04-24T10:56:32Z

Amgen to expand Ohio biotech manufacturing plant

By Deena Beasley (Reuters) -Amgen on Friday announced a $900 million expansion of its Ohio biotech manufacturing facility, becoming the latest in a string of drugmakers pledging to increase U.S. capacity amid Trump administration threats of potential import tariffs. Amgen, based in Thousand Oaks, California, said the plans bring its total investment in central Ohio to more than $1.4 billion,

2025-04-25T17:33:04Z

Brazil's Vale sees no material impacts from trade war so far

SAO PAULO (Reuters) -Brazilian miner Vale said on Friday that it has so far not seen a material impact from the ongoing global trade war on its operations and sales, but vowed to keep monitoring it closely amid uncertain market conditions. Vale is one of the world's largest iron ore producers and has a top client in China, which has been locked in a trade dispute with the United States following

2025-04-25T16:32:56Z

Fed survey finds global trade fight, policy uncertainty top financial stability risks

By Pete Schroeder and Michael S. Derby WASHINGTON (Reuters) -Rising risks around global trade, general policy uncertainty, and the sustainability of U.S. debt topped the list of potential risks to the U.S. financial system in a new Federal Reserve survey released on Friday. The bi-annual Fed survey of financial risks was the first since President Donald Trump returned to office, and the impact

2025-04-25T20:18:15Z

Wall Street watchdog staff shrinks 16% in last year, includes key units, sources say

By Douglas Gillison and Chris Prentice WASHINGTON/NEW YORK (Reuters) -The U.S. Securities and Exchange Commission has lost 16% of its workforce since this time last year, two sources briefed on the matter said, leaving Wall Street's top regulator with gaps across key divisions at a time of market turmoil. Most of those staff members left since February when more than 600 accepted Trump

2025-04-24T18:46:52Z

Morgan Stanley to sell final $1.2 billion of X debt, Bloomberg News reports

(Reuters) -Morgan Stanley has launched a sale of the last $1.23 billion worth of debt tied to Elon Musk's $44 billion buyout of social media platform Twitter, now called X, Bloomberg News reported on Thursday, citing a person familiar with the matter. Musk's close relationship to President Donald Trump and prospects of improving revenue of X have allowed banks to offload almost all of the $13

2025-04-24T14:02:04Z

China's Ping An Insurance posts 26.4% fall in first-quarter profit

SHANGHAI/HONGKONG(Reuters) -Ping An Insurance (Group) Co of China Ltd reported a 26.4% decline in first-quarter net profit on Friday. The Chinese insurance giant's net profit for the three months to March 31 was 27.02 billion yuan ($3.71 billion), down from 36.71 billion yuan a year earlier. ($1 = 7.2857 Chinese yuan renminbi) (Reporting by Engen Tham, Selena Li and Ziyi TangEditing by David

2025-04-25T09:32:29Z

RWE has stopped offshore wind activities in United States

FRANKFURT (Reuters) -RWE has stopped its U.S. offshore wind activities for now in light of regulatory uncertainty under the administration of President Donald Trump, its CEO said in a speech manuscript published ahead of the utility's annual general meeting. "We remain cautious given the political developments. We have introduced higher requirements for future investments in the U.S.," Markus

2025-04-25T07:02:23Z

World breathes sigh of relief as Trump spares Fed, IMF

By Francesco Canepa, Jan Strupczewski and Leika Kihara WASHINGTON (Reuters) -Global policymakers gathering in Washington this week breathed a collective sigh of relief that the U.S.-centric economic order that prevailed for the past 80 years was not collapsing just yet despite Donald Trump's inward-looking approach. The Spring Meetings of the International Monetary Fund and the World Bank were

2025-04-26T10:08:49Z

Eastern to acquire HarborOne in $490 million deal in latest U.S. regional bank consolidation

(Reuters) -Eastern Bankshares will acquire HarborOne Bancorp in a stock and cash deal valued at $490 million, the lenders said on Thursday, as bank consolidation gains traction in an uncertain market. Regional banks across the United States are increasingly turning to mergers as a strategy to bolster their balance sheets, achieve greater diversification, and increase scale in the face of

2025-04-25T14:22:46Z

Hasbro's quarterly results beat on digital gaming demand

(Reuters) -Hasbro reported first-quarter results on Thursday that beat Wall Street estimates, helped by strength in the toymaker's digital gaming segment, sending the company's shares up about 4% in premarket trading. The Play-Doh owner said it would not change its annual forecast given the uncertainty related to tariffs. Hasbro's revenue rose 17.1% to $887.1 million, compared with the average

2025-04-24T10:51:30Z

L3Harris cuts 2025 forecasts on aviation business divestiture

(Reuters) -U.S. defense contractor L3Harris Technologies on Thursday cut its full-year profit and revenue forecasts after missing quarterly sales expectations, citing decreased volumes in its space unit and the divestment of its aviation solutions business. Shares of the company fell about 3% in premarket trading. The Melbourne, Florida-based company said it expects an adjusted profit of between

2025-04-24T12:21:32Z

Unilever beats first-quarter underlying sales growth estimates

(Reuters) -Unilever beat estimates for first-quarter underlying sales growth on Thursday and reaffirmed its full-year 2025 outlook. The maker of Dove soap and Ben & Jerry's ice cream posted 3% underlying sales growth for the quarter ended March 31, topping analysts' expectations of a 2.8% rise. Unilever, whose other brands include Vaseline, Hellmann's mustard and Lifebuoy, said it was confident

2025-04-24T06:36:02Z

S&P 500 edges higher with trade negotiations, earnings in focus

(Reuters) - The S&P 500 edged up at the open on Thursday, as investors assessed a bevy of mixed corporate results and developments in the U.S.-China trade war. The Dow Jones Industrial Average fell 75.5 points, or 0.19%, at the open to 39,531.05. The S&P 500 rose 5.5 points, or 0.10%, at the open to 5,381.38​, while the Nasdaq Composite rose 46.7 points, or 0.28%, to 16,754.756 at the opening

2025-04-24T14:01:34Z

UK's NewDay Group draws takeover interest from bidders, Sky News reports

(Reuters) -British financial services firm NewDay Group has attracted takeover interest for parts or all of its business, including a bid from a Bain Capital-led consortium, Sky News reported on Thursday. The company has also drawn interest from asset management firm Pimco and private equity firm KKR, according to the report, which estimated NewDay could be worth around 1.7 billion pounds ($2.26

2025-04-24T17:16:39Z

Toyota chairman proposes possible $42 billion acquisition of Toyota Industries, Bloomberg reports

TOKYO (Reuters) -Toyota Motor Chairman Akio Toyoda has proposed the acquisition of supplier Toyota Industries in a possible 6 trillion yen ($42 billion) deal, Bloomberg News reported on Friday. Toyota Industries, which makes parts for the automaker, has formed a special committee after receiving the proposal and has hired advisers to examine the offer, Bloomberg said, citing people familiar with

2025-04-25T10:42:46Z

Caught in the tariff net: U.S. trade war threatens Chinese fish town

By Ella Cao, Xiaoyu Yin and Florence Lo MAOMING, China (Reuters) -In Maoming, a southern Chinese city where a giant tilapia statue watches over traffic at an intersection, the fish isn't just a budget-friendly dinner, but a profession, income and way of life for thousands. Today, all of that is at risk from the trade war. An area roughly one and a half times the size of San Francisco is given

2025-04-24T08:01:25Z

Interpublic beats quarterly estimates on steady demand across divisions

(Reuters) -Interpublic Group beat first-quarter revenue estimates on Thursday, helped by steady marketing spend by clients at the company's Mediabrands, Deutsch and Golin divisions, sending its shares up nearly 5% in early trading. The advertising firm's results show resilience as companies are pulling their marketing and advertising budgets amid an escalating global trade war and fears of a

2025-04-24T14:01:35Z

VW to contribute self-driving electric vans in U.S. pact with Uber

(Reuters) - Volkswagen will supply thousands of electric vans in a collaboration agreement with Uber Technologies as the partners seek to offer rides in fully autonomous vehicles in the United States over the next decade, the German carmaker said. Testing is expected to begin later this year, with the first commercial launch of the service on the Uber platform expected in Los Angeles in 2026, VW

2025-04-24T12:21:32Z

Brazilian miner Vale posts 17% drop in Q1 net profit

RIO DE JANEIRO/SAO PAULO (Reuters) -Brazilian miner Vale reported on Thursday a 17% decline in its first-quarter net profit from a year earlier, dragged down by lower iron ore prices. Vale, one of the largest iron ore producers in the world, posted a $1.39 billion net profit for the quarter through March, while analysts polled by LSEG had expected a $1.68 billion profit. In the earnings report,

2025-04-25T00:22:09Z

Vinfast reports 70% surge in fourth-quarter revenue on higher deliveries

(Reuters) -Vietnamese electric-vehicle maker Vinfast reported a 70% jump in fourth-quarter revenue on Thursday, helped by higher deliveries of its electric vehicles. The company said its total revenue was 16.49 trillion Vietnamese Dong ($633.82 million) in the quarter ended December 31, 2024, up 69.8% from a year earlier. ($1 = 26,017.0000 dong) (Reporting by Akash Sriram in Bengaluru)

2025-04-24T10:51:25Z

HCA Healthcare posts higher profit on strong demand for medical care

(Reuters) -Hospital operator HCA Healthcare said on Friday its first-quarter profit rose nearly 9%, as more people underwent elective procedures and sought medical care due to a rise in flu cases. The company reiterated its annual profit forecast and said it includes the impact of the two major hurricanes that hit its facilities last year, and policy developments, including the Trump

2025-04-25T11:52:34Z

Trump trade war spreads more gloom across businesses across the world

By Richa Naidu, Hyunjoo Jin and Jessica DiNapoli LONDON/SEOUL/NEW YORK (Reuters) -Businesses across multiple industries are hiking prices, backing away from previous financial guidance and warning of growing uncertainty as U.S. President Donald Trump's trade war pushes up costs, upends supply chains and stirs concerns about the global economy. Earnings releases on Thursday showed that

2025-04-24T17:12:00Z

US refiner Phillips 66 posts bigger-than-expected quarterly loss

(Reuters) -Phillips 66 reported a bigger-than-expected loss in the first quarter on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases

2025-04-25T11:57:34Z

Singapore inflation stays at 4-year lows as city-state prepares for election

Headline inflation rate was unchanged from last month at 0.9%, while core inflation fell to 0.5% from 0.6%.

2025-04-23T05:09:09Z

PepsiCo cuts annual profit forecast amid trade war turmoil

(Reuters) -PepsiCo cut its annual core profit forecast on Thursday, as the soda and snacks giant grapples with the uncertainty fueled by President Donald Trump's erratic trade policy and disruptions to its supply chain. The company now expects fiscal 2025 core earnings per share to decline 3%, compared with its previous forecast of a low-single-digit increase. "As we look ahead, we expect more

2025-04-24T10:56:26Z

BlackRock CEO boosts holding in 'undervalued' UK assets, The Times reports

(Reuters) -BlackRock has been acquiring billions of pounds of UK assets it considers "undervalued," The Times newspaper reported on Thursday, quoting the U.S. asset manager's CEO Larry Fink. In an interview with the British newspaper, Fink said that BlackRock has been broadly increasing its investments in UK assets "across the board." Fink said that the company "allocated more capital back to

2025-04-24T20:16:51Z

Stocks, dollar eye weekly rise on Trump's tariff backdown

SINGAPORE (Reuters) - Asian stock markets headed for a second straight week of gains on Friday and the dollar for its first weekly rise in more than a month as investors have welcomed an apparent softening of the White House stance on China, despite no signal of detente. U.S. tech giant and Google parent Alphabet also beat profit expectations and reaffirmed AI spending targets, pushing its shares

2025-04-25T03:02:22Z

Nestle beats first-quarter organic sales estimates

LONDON (Reuters) -Nestle posted better-than-expected first-quarter organic sales growth on Thursday as the world's biggest packaged food company hiked prices for its Kit-Kat chocolate wafer bars and Nescafe coffee. The Swiss company maintained its 2025 outlook, saying it still expects organic sales growth to improve and sees an underlying trading operating profit margin at or above 16.0%. (

2025-04-24T05:06:08Z

Interpublic beats quarterly revenue estimates on steady demand across divisions

(Reuters) -Interpublic Group beat first-quarter revenue estimates on Thursday, helped by steady marketing spend by clients at the company's Mediabrands, Deutsch and Golin divisions. The advertising firm's results show resilience as companies are pulling their marketing and advertising budgets amid an escalating global trade war and fears of a slowing U.S. economy and sticky inflation. "Account

2025-04-24T12:21:31Z

German finance minister: agreement with US is still preferred option in tariff row

BERLIN (Reuters) -Germany still hopes the European Union can find agreement with the United States to bring about a reduction in import tariffs but supports counter-measures if this fails, the country's finance minister said in a radio interview on Thursday. "The position is very simple: Plan A is we want an agreement and the tariffs should go down instead of going up," Joerg Kukies told the

2025-04-24T06:41:06Z

Pirelli set to declare end of Chinese investor's control over governance, paper says

MILAN (Reuters) -Pirelli's board is expected to approve on Monday an accord between shareholders to establish that the group's largest investor, China's state-owned Sinochem, does not exercise control over the tyre maker, an Italian daily said. Chinese and Italian shareholders in Pirelli have been at odds over the group's governance, with Sinochem posing a hurdle to Pirelli's U.S. expansion

2025-04-26T12:08:50Z

Kering shares down 5.42% after sales drop more than expected

PARIS (Reuters) -Shares of Kering dropped 5.42% at market open on Thursday, after the company reported first-quarter sales below analysts' expectations. Kering after the market close on Wednesday reported a 14% annual decline in sales, with a 25% drop at flagship label Gucci, adding to evidence the luxury sector faces another tough year. The sales report confirmed "a weakening backdrop" since

2025-04-24T08:01:10Z

Union Pacific misses quarterly estimates on weak auto shipments

(Reuters) -Railroad operator Union Pacific missed Wall Street estimates for first-quarter profit and revenue on Thursday, hurt by weak automotive shipments and lower fuel surcharge, sending shares down 3.5% in premarket trading. The Omaha, Nebraska-based company said its volumes were pressured by economic uncertainty and weaker coal demand. Union Pacific has struggled with lower demand for coal

2025-04-24T14:11:32Z

Dow reports first-quarter loss, expands European assets review

(Reuters) -Chemicals firm Dow Inc reported a first-quarter loss on Thursday versus a year-ago profit, hurt by lower prices and higher energy and feedstock costs, and said it is expanding the review of its European assets. Dow's shares, however, were up about 4% in premarket trading after the company posted a surprise profit of 2 cents on an adjusted basis. Analysts had expected an adjusted loss

2025-04-24T10:51:27Z

Drugmakers brace for Trump tariffs with production shifts

(Reuters) -Several major drugmakers are counting on their manufacturing flexibility to counter potential disruptions from tariffs threatened by President Donald Trump on the sector. Pharmaceutical imports were initially exempt from Trump's first set of reciprocal tariffs, although he has since indicated that levies are coming, arguing that the U.S. needs more drug manufacturing so it does not

2025-04-24T14:01:44Z

Spirit Airlines gets approval for NYSE listing

(Reuters) -Spirit Airlines said on Thursday it has received an approval to list its shares on the New York Stock Exchange, weeks after the low-cost carrier emerged from bankruptcy. The company said its shares are expected to begin trading on April 29. NYSE had delisted Spirit's shares in November as the U.S. no-frills airline filed for bankruptcy after struggling with years of losses, failed

2025-04-24T15:36:38Z

Volvo Cars appoints Fredrik Hansson new CFO

STOCKHOLM (Reuters) -Sweden-based Volvo Cars said on Thursday it had appointed Fredrik Hansson as new chief financial officer (CFO). Volvo Cars, which is majority-owned by China's Geely, said in a statement that Hansson, a member of its management team since 2023, would take on the job on Thursday and that current CFO Johan Ekdahl was leaving the company. (Reporting by Anna Ringstrom, editing by

2025-04-24T06:36:05Z