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Estee Lauder forecasts annual results below estimates as marketing costs increase

Feb 5 (Reuters) - Estee Lauder forecast annual sales and profit slightly below estimates on Thursday, as the cosmetics maker navigates a brand reset with increased marketing spend while it navigates tariff-related pressures. Shares fell about 9% in premarket trading after it forecast third-quarter margins to contract 50 basis points due to stepped-up investments in product innovation and tariff

2026-02-05T12:48:12Z

News Corp beats quarterly revenue estimates on growth in Dow Jones unit

Feb 5 (Reuters) - News Corp beat Wall Street estimates for second-quarter revenue on Thursday, bolstered by growth in its Dow Jones, digital real estate and book publishing units. The conglomerate, part of media mogul Rupert Murdoch's empire, has been shifting to digital and subscription-based models to counter intensifying competition and adapt to changing consumer news consumption habits. It

2026-02-06T00:03:10Z

Automaker Stellantis books 22.2 billion euro writedowns in H2 2025 in EV pullback

MILAN, Feb 6 (Reuters) - Stellantis said on Friday it was booking charges of around 22.2 billion euros ($26.5 billion)in the second half of last year as the Franco-Italian automaker scaled down electric-vehicle development plans and "reset" its business. "The Company has taken the vast majority of decisions required to correct direction, particularly related to aligning our product plans and

2026-02-06T08:13:06Z

Bessent says up to Trump whether Warsh might be sued for monetary policy choices

By Michael S. Derby Feb 5 (Reuters) - U.S. Treasury Secretary Scott Bessent declined on Thursday to commit the Trump administration to not suing Kevin Warsh, its nominee to be Federal Reserve Chair, if he follows a monetary path opposed by the president. Senator Elizabeth Warren asked Bessent in a Senate hearing whether Bessent would promise “Warsh will not be sued, will not be investigated by

2026-02-05T16:48:07Z

US rooftop solar installers cut jobs, restructure as homeowner subsidy expires

Feb 5 (Reuters) - U.S. residential solar companies are preparing for a steep drop in business this year after the expiration of a federal tax credit that helped drive more than a decade of rapid growth, prompting layoffs, restructurings and some company failures. The 30% federal income tax credit for homeowners who purchase rooftop systems expired at the end of 2025 under President Donald Trump’s

2026-02-05T12:48:12Z

Oil falls 3% on easing supply concerns after US, Iran agree to talks

By Seher Dareen and Georgina McCartney HOUSTON, Feb 5 (Reuters) - Oil prices slipped by more than 3% on Thursday after the U.S. and Iran agreed to hold talks in Oman on Friday, easing concerns around any bottlenecks in Iranian crude supplies. Brent crude futures were down $2.33, or 3.35%, at $67.13 per barrel at 11:12 a.m. EDT (1612 GMT). U.S. West Texas Intermediate crude was down $2.23, or

2026-02-05T16:43:10Z

Under Armour lifts annual forecasts as reset strategy stems sales slide

By Savyata Mishra Feb 6 (Reuters) - Under Armour raised its annual forecasts after posting better‑than‑expected third‑quarter results on Friday, as its strategy to simplify product mix and launch new apparel and footwear helped retain budget‑conscious shoppers. The sportswear retailer has deepened its restructuring push over the last year to revive sales through streamlined operations and

2026-02-06T14:18:28Z

Dow Jones Industrial Average hits record 50,000 points

Feb 6 (Reuters) - The Dow Jones Industrial Average surged above 50,000 points for the first time on Friday, a historic moment for the blue-chip index, which was up more than 2% in afternoon trading. Shares of Nvidia gained more than 7% after recent losses and helped to give the Dow a boost, along with Caterpillar, up more than 6%. The stock market is bouncing on Friday after a selloff this week

2026-02-06T20:53:12Z

Exclusive - Syngenta targets up to $10 billion Hong Kong listing in 2026, sources say

ZURICH/HONG KONG, Feb 5 (Reuters) - Syngenta Group is targeting a Hong Kong listing that could raise as much as $10 billion this year, two sources with knowledge of the deal said, setting the Swiss agrichemicals and seeds group on course for one of the world's biggest IPOs in 2026. Syngenta, owned by Chinese state group Sinochem, is in talks with banks about roles in the deal, said the sources,

2026-02-05T10:13:10Z

Phillips 66 to lay off 277 workers as Los Angeles refinery winds down

By Nicole Jao NEW YORK, Feb 5 (Reuters) - Phillips 66 is set to lay off 277 employees as operations at the 139,000-barrel-per-day Los Angeles-area refinery wind down ahead of closure, filings to California's employment regulator show. The Houston-based refiner will terminate 122 employees at the Los Angeles-area refinery in April, a notice filed with the regulator on Monday showed. In a

2026-02-05T17:58:07Z

Global chip sales expected to hit $1 trillion this year, industry group says

SAN FRANCISCO, Feb 6 (Reuters) - Global semiconductor sales are expected to hit $1 trillion this year, the Semiconductor Industry Association said on Friday. The group, which represents most U.S. chip firms, said that chip sales hit $791.7 billion in 2025, an increase of 25.6% over the previous year. That booming growth is expected to continue into this year as major technology firms around the

2026-02-06T13:03:14Z

LG Energy Solution to buy Canada JV stake from Stellantis

By Heejin Kim and Gilles Guillaume SEOUL, Feb 6 (Reuters) - South Korea's LG Energy Solution said on Friday it plans to buy the 49% stake held by Stellantis in their battery joint venture in Canada for a nominal amount of $100. The move comes as some automakers are scaling back their electric-vehicle plans in response to the policies of the administration of U.S. President Donald Trump and due

2026-02-06T08:13:07Z

Verizon consumer division head departing as company mounts turnaround effort

By David Shepardson WASHINGTON, Feb 5 (Reuters) - Verizon on Thursday said its consumer division chief Sowmyanarayan Sampath is stepping down, as the U.S. wireless carrier mounts a turnaround effort under its new CEO Dan Schulman. Sampath had headed the consumer unit since March 2023 and will remain until March 31. Verizon said in a statement its chief transformation officer, Alfonso Villanueva,

2026-02-05T18:03:08Z

US consumer sentiment improves modestly in February

WASHINGTON, Feb 6 (Reuters) - U.S. consumer sentiment improved marginally in early February amid lingering worries about the labor market and the rising cost of living, a survey showed on Friday. The University of Michigan's Surveys of Consumers said its Consumer Sentiment Index increased to 57.3 this month from a final reading of 56.4 in January. Economists polled by Reuters had forecast the

2026-02-06T15:28:06Z

Panama's president says port contracts will not be issued to a single operator

By Elida Moreno PANAMA CITY, Feb 5 (Reuters) - Panamanian President Jose Raul Mulino said on Thursday that the concession of contracts to operate two ports held and operated for nearly three decades by Hong Kong's CK Hutchison Holdings will "never again" be issued to a single company. Panama's Supreme Court last week nullified CK Hutchison's contract to operate two ports along its

2026-02-05T16:43:04Z

Sovereignty: The defense buzzword at the Singapore Airshow

Countries want to be able to ensure that defense capabilities are close at hand.

2026-02-07T09:49:27Z

Novo Nordisk to take legal action against Hims & Hers for Wegovy compounding

COPENHAGEN, Feb 5 (Reuters) - Novo Nordisk said on Thursday it would take legal action against Hims & Hers after the online telehealth company said it will begin offering compounded copies of the Danish group's Wegovy pill at an introductory price of $49 per month. "The action by Hims & Hers is illegal mass compounding that poses a significant risk to patient safety," the Danish drugmaker said in

2026-02-05T19:13:11Z

MGM Resorts beats quarterly profit estimates on steady sports betting business

Feb 5 (Reuters) - Casino operator MGM Resorts International reported fourth-quarter profit above Wall Street estimates on Thursday, driven by strong performance in its online sports-betting business. Sports betting in the United States has gained traction, driven by increasing state-level legalization and heavy marketing by major operators, even as the sector faces intense regulatory scrutiny and

2026-02-05T22:53:12Z

EU extends tariff suspension on $109.8 billion of US imports for six months

BRUSSELS, Feb 6 (Reuters) - The European Union is suspending tariffs on 93 billion euros ($109.8 billion) of U.S. imports for a further six months after an easing of tensions over U.S. President Donald Trump's claims on Greenland and threats of new tariffs, according to a filing in the EU official journal. The European Union had appeared poised to deploy the package of countermeasures in response

2026-02-06T15:28:04Z

Supply chain chaos becomes aviation's 'new norm' as demand hits records

By Jun Yuan Yong and Julie Zhu SINGAPORE, Feb 6 (Reuters) - Years after the pandemic, the aviation industry is still struggling to recover from supply chain disruptions that have been exacerbated by record passenger demand and geopolitical challenges, executives and suppliers say. Airlines have been forced to keep older, less fuel-efficient planes flying for longer as some deliveries from Airbus

2026-02-06T07:03:14Z

Bob's Discount Furniture valued at $2.22 billion as shares open flat in NYSE debut

Feb 5 (Reuters) - Bob's Discount Furniture, backed by private equity firm Bain Capital, secured a valuation of $2.22 billion, after its shares opened flat in their debut on Thursday, as investors stayed selective about new offerings in a packed week. The home furnishings retailer's stock opened at $17 in its New York Stock Exchange debut, same as its offer price. The Manchester,

2026-02-05T17:58:06Z

Analysis - Big US banks boost Washington lobbying muscle as policy fights heat up

WASHINGTON, Feb 5 (Reuters) - Big U.S. banks' lobbying spend jumped 12% last year, the most in more than a decade, as they intensified efforts to navigate major policy flux in Washington under President Donald Trump's administration, according to a Reuters analysis of disclosure data and industry lobbyists. The power of the crypto lobby and its policy gains have become a source of alarm and

2026-02-05T12:48:12Z

Coca-Cola to discontinue frozen products in US and Canada

Feb 5 (Reuters) - Coca-Cola said on Thursday it is discontinuing its frozen products, including its Minute Maid frozen line, in the U.S. and Canada markets as it tries to appease shifting consumer taste. "We are discontinuing our frozen products and exiting the frozen can category in response to shifting consumer preferences," a company spokesperson told Reuters. The company, which named

2026-02-05T20:28:07Z

Amazon joins Big Tech AI spending spree

Shares in the tech giant fell in after hours trade as investors appeared wary of the sector's big spending plans.

2026-02-05T22:38:36Z

Mexico's Pemex awards contract for gas and condensate field to a Slim company, sources say

By Adriana Barrera and Ana Isabel Martinez MEXICO CITY, Feb 6 (Reuters) - Mexican state company Pemex has awarded a contract for a crude oil and natural gas field to a company controlled by Carlos Slim, three sources with knowledge of the matter said, as the tycoon further strengthens his presence in the energy sector. The so-called "mixed contract" for the onshore Macavil field in southern

2026-02-06T11:48:14Z

US attorney says office will not prosecute companies that cooperate in criminal investigations

By Chris Prentice NEW YORK, Feb 5 (Reuters) - Federal prosecutors plan to increase incentives for companies that cooperate during criminal investigations, including promises not to prosecute them, the U.S. Attorney in Manhattan said on Thursday. Jay Clayton's remarks at an industry conference come as the Justice Department is scaling back corporate crime enforcement and refocusing on immigration

2026-02-05T21:48:07Z

American's Chicago showdown with United Airlines becomes key test of turnaround promise

(Fixes executive's name spelling to Pieper from Piper) By Rajesh Kumar Singh CHICAGO, Feb 5 (Reuters) - American Airlines is trying to convince investors it can narrow the profit gap with rivals and deliver a sustained turnaround. The escalating showdown with United Airlines at Chicago's O'Hare International Airport has become one of the clearest tests of that promise — with real stakes for

2026-02-05T19:13:16Z

NYSE-parent ICE's profit rises on stronger trading volumes

Feb 5 (Reuters) - Intercontinental Exchange posted a rise in fourth-quarter profit on Thursday, as the New York Stock Exchange parent benefited from stronger trading volumes in a volatile market. It reported a net income of $862 million, or $1.49 per share, compared with $709 million, or $1.21 per share, a year earlier. Volatile markets typically boost volumes at exchanges, as traders hedge

2026-02-05T12:48:02Z

AI is not a bubble, senior executive at Nvidia supplier Wistron says

TAIPEI, Feb 6 (Reuters) - Artificial intelligence is not a bubble, and 2026 AI-related order growth will be more than last year, Simon Lin, the chairman of Taiwanese electronics manufacturer Wistron, said on Friday. "We believe AI really does help all industries, so I don't think it's a bubble; I think it will mark a new era. A new AI era is arriving," Lin, whose company is an Nvidia supplier,

2026-02-06T09:23:11Z

CBOE beats profit estimates on options trading boom

Feb 6 (Reuters) - Cboe Global Markets beat Wall Street estimates for fourth-quarter profit on Friday, as elevated market volatility boosted options trading volumes at the exchange operator. Markets have seen a surge in volatility in recent months, fueled by uncertain trade policies and heightened geopolitical tensions, leading traders to take more bets and hedge their positions. Exchanges across

2026-02-06T15:28:11Z

US job openings drop to more than five-year low in December

WASHINGTON, Feb 5 (Reuters) - U.S. job openings dropped to the lowest level in more than five years in December and data for the prior month was revised lower amid a softening in labor market conditions at the end of 2025. Job openings, a measure of labor demand, decreased by 386,000 to 6.542 million by the last day of December, the lowest level since September 2020, the Labor Department's Bureau

2026-02-05T15:28:17Z

Forgent Power valued at nearly $8 billion in muted NYSE debut

Feb 5 (Reuters) - Forgent Power was valued at nearly $8 billion in its New York Stock Exchange debut on Thursday, as investor appetite for companies catering to the AI boom remains robust despite pockets of worries that the market may have overheated. The company braved significant market volatility this week to complete its listing. IPOs typically require stable market conditions, and a risk-off

2026-02-05T19:13:04Z

KKR and Singtel to take full ownership of data center firm STT GDC for about $5 billion

The deal pegs the enterprise value at S$13.8 billion.

2026-02-04T00:44:13Z

Toyota raises full-year operating profit outlook by 11.8%

Feb 6 (Reuters) - Toyota Motor raised its full-year operating profit forecast on Friday, as it expects a weak yen and cost reduction efforts to lift its results. The world's biggest automaker now expects operating profit of 3.8 trillion yen ($24.26 billion) for the year to the end of March, up 11.8% from its previous outlook of 3.4 trillion yen. ($1 = 156.6300 yen) (Reporting by Daniel Leussink

2026-02-06T05:53:10Z

BP's Whiting refinery workers prepare for potential strike as union talks falter

By Nicole Jao NEW YORK, Feb 5 (Reuters) - United Steelworkers is asking workers at BP's 440,000-barrel-per-day refinery in Whiting, Indiana, to prepare for a strike or lockout, the union said on Thursday after weeks of negotiations with the British oil major that did not yield results. The comments come after 98% of the 800 workers the local USW union represents at the Whiting refinery voted to

2026-02-06T15:28:07Z

Under Armour lifts annual forecasts as turnaround slows N America sales slide

By Savyata Mishra Feb 6 (Reuters) - Under Armour raised its annual forecasts after posting better-than-expected third-quarter results on Friday and its CEO signaled stability ahead, sending the sportswear retailer's shares up more than 13% in early trading. CEO Kevin Plank has ramped up cost cuts, simplified its product mix, rolled out new apparel and footwear styles since returning to the helm

2026-02-06T16:38:10Z

Toyota names close ally of chairman Toyoda as next CEO

By Daniel Leussink TOKYO, Feb 6 (Reuters) - Toyota on Friday named finance boss Kenta Kon, a close ally of Chairman Akio Toyoda, as its next chief executive, as the world's largest automaker grapples with deepening competition from fast-moving Chinese rivals. The surprise move will see current CEO Koji Sato step down from April 1 after just three years at the helm to become vice chairman and

2026-02-06T09:23:10Z

Argentina's minerals deal with US does not rule out Chinese investment, minister says

BUENOS AIRES, Feb 6 (Reuters) - A deal on critical minerals between Argentina and the United States signed this week does not rule out Chinese investment in the country's mining sector, Argentine Foreign Minister Pablo Quirno said on Friday. "This, as of today, does not imply that China cannot participate nor will participate in investments in Argentina. In fact, it has investments in Argentina,

2026-02-06T17:48:08Z

KKR expects Arctos sports group to build more than $100 billion in assets

NEW YORK, Feb 5 (Reuters) - KKR Chief Financial Officer Rob Lewin said on Thursday that the New York-based company expects newly acquired sports investment group Arctos to reach over $100 billion in assets under management. "I think it's fair to say that we have evaluated most of the secondary asset managers that have traded over the past decade," and the group was now confident it had found the

2026-02-05T15:38:08Z

Bank of England expected to hold interest rates

Interest rates were cut to 3.75% in December and analysts expect at least one further reduction this year.

2026-02-05T00:08:55Z

BMW North America to recall over 87,000 US vehicles over engine starter overheating issue

Feb 7 (Reuters) - BMW North America is recalling 87,394 vehicles in the U.S. as the engine starter may overheat, causing a fire risk, the U.S. National Highway Traffic Safety Administration said on Saturday. Dealers will replace the engine starter free of charge, the auto regulator said. (Reporting by Ananya Palyekar in Bengaluru; Editing by Toby Chopra)

2026-02-07T08:43:06Z

Australia's Finance Sector Union slams ANZ over job cuts at Suncorp Bank divisions (Jan 22)

(Removes incorrect reference to size of FSU's membership in the last paragraph in Jan 22 story) Feb 6 (Reuters) - Australia's Finance Sector Union condemned ANZ Group's decision to cut jobs across multiple Suncorp Bank divisions on Thursday, saying the layoffs contradict the commitments it made to workers when the sale was approved. "ANZ has confirmed that 197 Suncorp Bank roles are being

2026-02-05T20:28:06Z

Glencore, Rio abandon merger talks for the third time

Feb 5 (Reuters) - Rio Tinto said on Thursday that it was no longer in talks with Glencore about a takeover that would have created the world's largest mining company, saying it could not reach an agreement that would deliver value to its shareholders. Attempts to combine the companies have repeatedly fallen short. Rio rejected a merger approach from Glencore in 2014, saying it was not in the best

2026-02-05T15:28:17Z

US military shipbuilder Huntington Ingalls expects negative free cash flow in current quarter

By Anshuman Tripathy and Apratim Sarkar Feb 5 (Reuters) - U.S. military shipbuilder Huntington Ingalls said on Thursday that it had expected free cash flow for the current quarter to be negative, despite beating quarterly profit estimates, sending its shares down 11% at midday. CEO Chris Kastner said on a post-earnings call that the negative cash flow represented use of about $600 million, "as

2026-02-05T17:58:05Z

Bitcoin falls to lowest value since Trump took office

The price of the digital currency has dropped significantly despite President Donald Trump’s public support.

2026-02-05T22:08:45Z

Uber ordered to pay $8.5m over claim driver raped passenger

The verdict is expected to influence the outcome of thousands of other cases against the ride hailing firm.

2026-02-06T20:53:29Z

Chevron names new heads of strategy, trading, business development

Feb 5 (Reuters) - Chevron Corp on Thursday outlined senior leadership changes that will take effect in 2026, with several long-serving executives retiring and internal candidates stepping into key roles across strategy, trading and business development. The changes come as the U.S. oil major continues to integrate Hess assets and navigate a volatile energy market marked by fluctuating oil prices,

2026-02-05T16:43:07Z

Jennifer Garner's Once Upon a Farm valued at nearly $845 million in NYSE debut

By Arasu Kannagi Basil and Abigail Summerville Feb 6 (Reuters) - Once Upon a Farm, the children's organic food company co-founded by actor Jennifer Garner, was valued at nearly $845 million in its New York Stock Exchange debut on Friday, as consumer IPOs show signs of revival after a sluggish 2025. The Berkeley, California-based company's stock opened at $21 apiece, 16.7% above the $18 offer

2026-02-06T19:53:16Z

Stellantis shares hit over 5-year low on $26.5 billion EV-related writedown

Feb 6 (Reuters) - Stellantis shares tumbled up to 20% early on Friday after the carmaker booked charges of around 22.2 billion euros ($26.5 billion) in the second half of 2025, as it scales down plans for electric-vehicle development. Shares of the Franco-Italian group were trading at 6.55 euros in Milan, hovering around their lowest price since June 2020. Its Paris-listed shares were down 17.5%.

2026-02-06T09:23:07Z

OpenAI unveils AI agent service as part of push to attract businesses

By Deepa Seetharaman SAN FRANCISCO, Feb 5 - Your next coworker might be generated by AI. OpenAI on Thursday said it is launching a service, called Frontier, for companies to build and manage so-called artificial-intelligence agents, or AI tools that can complete specific tasks, like fixing a software bug. The platform is part of a broader effort by OpenAI to seize the enterprise market from

2026-02-05T15:28:15Z