Money

Trending:

Energy Transfer will not greenlight Lake Charles LNG project before 80% sold to equity partners

By Georgina McCartney and Curtis Williams HOUSTON (Reuters) -U.S. pipeline operator Energy Transfer will not give its Lake Charles liquefied natural gas export facility in Louisiana a financial go ahead until 80% of the project has been sold to equity partners, company executives said on Wednesday on a post-earnings call. Energy Transfer has been developing the 16.5 million metric tonnes per

2025-11-05T23:43:03Z

Peloton issues new recall tied to seat post defect, affecting 833,000 bikes

(Reuters) -The U.S. Consumer Product Safety Commission said on Thursday Peloton Interactive is recalling about 833,000 units of its Original Bike+ Model PL02 after reports that the seat post assembly could break during use, posing a risk of falls and injuries. The consumer safety regulator said the fitness products maker has received three reports of the seat post breaking and detaching during

2025-11-06T15:48:10Z

United Airlines to cut 4% of flights Friday through Sunday

(Reuters) -United Airlines said on Thursday it plans to cut 4% of its flights Friday through Sunday after the Federal Aviation Administration directed reductions at 40 high-traffic U.S. airports to address air traffic control safety concerns. The FAA said it planned to impose 10% cuts starting on Friday but then told airlines it would begin with 4% cuts and ramp up to 10% next week. United

2025-11-06T20:08:06Z

Fed's Hammack leans against more rate cuts because of high inflation

By Michael S. Derby NEW YORK (Reuters) -Cleveland Federal Reserve President Beth Hammack said on Thursday ongoing high levels of inflation argue against the U.S. central bank cutting interest rates again. "I remain concerned about high inflation and believe policy should be leaning against it," Hammack said in the text of a speech to be delivered to an Economic Club of New York event. "After

2025-11-06T21:28:13Z

McKesson raises annual profit forecast on robust demand for specialty drugs

(Reuters) -Drug distributor McKesson raised its fiscal 2026 profit forecast on Wednesday, betting on strong growth in its oncology and specialty drug distribution businesses. Shares of the company rose about 2% in extended trading. Drug distributors in the United States are expanding their presence in the market for specialty medicines, which treat complex conditions such as rheumatoid arthritis

2025-11-05T22:23:05Z

Factbox-What is Metsera, the target in Pfizer's and Novo Nordisk's bidding war?

(Reuters) -Pfizer and Novo Nordisk are locked in a bidding war for biotech firm Metsera as the pharmaceutical giants seek to augment their pipeline in the booming weight-loss drug market. WHAT IS METSERA? Metsera is a New York-based clinical-stage biotech firm focused on developing treatments for obesity and metabolic diseases. Founded in 2022 by Population Health Partners and ARCH Venture

2025-11-06T17:08:08Z

Elon Musk's $1 trillion Tesla pay plan wins shareholder approval

By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) -Tesla CEO Elon Musk won shareholder approval on Thursday for the largest corporate pay package in history as investors endorsed his vision of morphing the EV maker into an AI and robotics juggernaut. The proposal was approved with over 75% support, and Musk bounded to the stage of the company's annual meeting at its factory in Austin,

2025-11-07T00:08:12Z

Cathay Pacific to buy back shares from Qatar Airways for $897.3 million

(Reuters) -Cathay Pacific Airways will repurchase all of its shares owned by Qatar Airways for a total consideration of HK$6.97 billion ($897.33 million), Hong Kong's flagship carrier said on Wednesday. Cathay Pacific, which will repurchase 9.57% of its issued shares at HK$10.8374 per share, said it will have "cash sufficient to fund its operations" following completion of the share buyback. The

2025-11-05T16:13:04Z

Wells Fargo CEO expects bank's workforce to shrink further

By Lananh Nguyen and Nivedita Balu NEW YORK/TORONTO (Reuters) -Wells Fargo CEO Charlie Scharf said on Wednesday he expects the U.S. bank's workforce to decline further as it focuses on efficiency. "It's likely we'll have less headcount as we look forward ... we'd like to do much of it through attrition as possible," Scharf said in an interview, noting the bank had 275,000 employees when he

2025-11-05T21:08:09Z

Wells Fargo CEO says bank not under pressure to make acquisitions

By Lananh Nguyen and Nivedita Balu NEW YORK/TORONTO (Reuters) -Wells Fargo CEO Charlie Scharf said on Wednesday the lender is not under pressure to make acquisitions to boost growth, after regulators lifted a seven-year penalty that gives the fourth-largest U.S. lender more freedom to expand. "We don't feel the pressure to do any M&A whatsoever ... We have amazing opportunities in every one of

2025-11-05T19:58:14Z

Westpac will not appeal work-from-home ruling loss

SYDNEY (Reuters) -Australian bank Westpac will not appeal a labour tribunal ruling after it lost a case to compel one of its workers to be in the office twice a week, according to a bank spokesperson. * The Fair Work Commission in October found in favour ofKarlene Chandler, who challenged Westpac after it said sheneeded to work from a corporate office two days a week. Untilearlier this year, she

2025-11-07T05:13:10Z

Insurance tech firm Exzeo valued at $1.9 billion in muted NYSE debut

(Reuters) -Insurance technology firm Exzeo Group's shares opened flat in their New York Stock Exchange debut on Wednesday, bucking the trend of strong listings in the insurance sector and valuing the company at nearly $1.91 billion. Shares of the Tampa, Florida-based Exzeo opened at $21 apiece, at par with the offer price. Exzeo had sold 8 million shares in an initial public offering on Tuesday

2025-11-05T16:13:07Z

Spirit Airlines to cut about 150 jobs in turnaround effort

(Reuters) -Spirit Airlines said on Wednesday it would cut about 150 salaried roles, and discontinue service at five airports, including Milwaukee and Phoenix, by January as the low-cost carrier aims to turn itself around. The carrier said last month it would furlough 365 pilots and downgrade the status of up to 170 pilots in the first quarter of 2026, as part of its restructuring efforts. Spirit

2025-11-05T17:28:06Z

Peloton shares jump as turnaround strategy gains traction

(Reuters) -Peloton Interactive shares jumped more than 7% in premarket trading on Friday after the fitness company beat quarterly revenue estimates, buoyed by early traction from its revamped product lineup and price hikes across hardware and subscriptions, reinforcing investor confidence in its turnaround strategy. The upbeat results mark a turning point for Peloton under CEO Peter Stern, who

2025-11-07T10:28:06Z

Deutsche Boerse and Nasdaq targeted in EU cartel probe

BRUSSELS (Reuters) -The European Commission on Thursday said it had opened an antitrust investigation against stock exchange companies Deutsche Boerse and Nasdaq. The Commission said it suspected the companies of breaking EU competition rules in the sector for listing, trading and clearing of financial derivatives. "Deutsche Boerse and Nasdaq entities may have entered into agreements or

2025-11-06T11:13:03Z

Google in early talks to boost investment in Anthropic, Business Insider reports

(Reuters) -Google is in early discussions to deepen its investment in Anthropic, the Business Insider reported on Wednesday, citing people familiar with the matter. The new round of funding could value Anthropic at more than $350 billion, the report said. Reuters could not immediately verify the report. (Reporting by Devika Nair in Bengaluru; Editing by Sherry Jacob-Phillips)

2025-11-06T03:23:05Z

Petrobras posts slight profit growth, unveils $2.25 billion in dividends

By Fabio Teixeira and Marta Nogueira RIO DE JANEIRO (Reuters) -Brazilian oil firm Petrobras reported on Thursday a slight increase in its third-quarter net profit from a year earlier, alongside a 12.2-billion-real ($2.25 billion) dividend payout. Petrobras posted a net profit of 32.7 billion reais ($6.05 billion) for the July-to-September quarter, a 0.5% increase. In dollars, net profit came up

2025-11-07T00:08:10Z

Wall Street girds for life under Mamdani, worries about New York City's competitiveness

By Lewis Krauskopf and Saeed Azhar NEW YORK (Reuters) -Wall Street braced for change with the election of Democratic Socialist Zohran Mamdani as New York City mayor on Tuesday, a win set to reverberate through the heart of global capitalism, with financiers worrying the city's competitiveness and business appeal could suffer. Decisive Democratic victories in Virginia, New Jersey and the passage

2025-11-05T18:43:16Z

Crypto firm Ripple raises $500 million in latest investment round

(Reuters) -Ripple has raised $500 million in a strategic investment valuing it at $40 billion, the crypto firm said on Wednesday, in a funding round led by Fortress Investment Group and Citadel Securities. The investment comes on the heels of Ripple's $1 billion tender offer earlier this year at the same valuation, the company said. In the wake of the GENIUS Act, which created a regulatory

2025-11-05T18:43:09Z

DoorDash forecasts upbeat quarter on robust delivery demand

(Reuters) -DoorDash forecast fourth-quarter gross merchandise value above Wall Street expectations and beat quarterly revenue estimates on Wednesday, boosted by resilient demand for deliveries and partnerships with restaurants and retailers. The company expects gross merchandise value, the total dollar value of orders placed through its platform, in the fourth quarter, to range between $28.9

2025-11-05T21:08:07Z

France says EU must investigate Shein over sex dolls, weapons

By Helen Reid PARIS (Reuters) -The European Union must take action against Shein, French government officials said on Thursday, saying the Chinese online retailer was in breach of the bloc's regulations due to the sale of child-like sex dolls and banned weapons on its marketplace. France moved to ban Shein over the illicit products on Wednesday, prompting the company to suspend its marketplace

2025-11-06T14:08:17Z

US trade regulator raises concern about Novo bid for Metsera

WILMINGTON, Delaware (Reuters) -The structure of Novo Nordisk's $10 billion bid for obesity drug developer Metsera may violate provisions of U.S. antitrust law if the companies consummate the deal without prior regulatory review, the U.S. Federal Trade Commission said in a Wednesday letter to the companies' legal teams. The warning letter comes as Novo and Pfizer are engaged in a heated bidding

2025-11-05T19:58:12Z

France moves to suspend Shein over sex dolls and weapons on day Paris store opens

By Helen Reid and Mimosa Spencer PARIS (Reuters) -France started proceedings on Wednesday to suspend online fast-fashion retailer Shein after childlike sex dolls and weapons were found being sold on its site, marring the opening of the Chinese company's first shop in a Paris department store. The discovery of the dolls on Shein's website by France's consumer watchdog on Saturday fuelled an

2025-11-05T18:43:14Z

DoorDash shares drop as new investment plan unnerves investors

(Reuters) -DoorDash shares dropped nearly 9% in premarket trading on Thursday as the company's aggressive plan to invest several hundred million dollars more in 2026 in the face of cost pressures unnerved investors. The San Francisco-based company also missed Wall Street estimates for third-quarter profit due to rising expenses. DoorDash has ramped up investments on partnerships - including with

2025-11-06T11:13:04Z

News Corp beats quarterly revenue estimates

(Reuters) -Media conglomerate News Corp beat Wall Street estimates for first-quarter revenue on Thursday, driven by growth at its Dow Jones and digital real estate services segments. News Corp, part of media mogul Rupert Murdoch's empire, has pivoted toward digital and subscription-based revenue models, aiming to enhance its competitiveness and adapt to a fast-changing news landscape. Revenue

2025-11-06T21:28:08Z

Monster Beverage beats quarterly results estimates on strong demand for sugar-free energy drinks

(Reuters) -Monster Beverage beat Wall Street estimates for third-quarter revenue and profit on Thursday, helped by resilient demand for its sugar-free energy drinks and new flavors even amid economic uncertainty. WHY IT'S IMPORTANT Monster benefited from the recent shift in consumer preference as they become more health-conscious and opt for energy and sugar-free drinks over regular sodas. The

2025-11-06T22:53:06Z

Take-Two delays 'GTA VI' for second time to November next year

(Reuters) -Take-Two Interactive has again delayed the launch of "Grand Theft Auto VI" and expects to release it on November 19 next year, extending the wait for the gaming industry's most-anticipated title. Shares of the company, which had previously said it would launch the title on May 26, were down more than 8% in extended trading. This marks the second delay for the game - initially set for

2025-11-06T21:28:05Z

Heineken opens new $462 million plant in Brazil to boost premium beer

SAO PAULO (Reuters) -Dutch brewer Heineken on Thursday opened a new brewery in the Brazilian state of Minas Gerais, in one of the largest investments from the beverage sector in the country, as the facility will focus on premium beer production. WHY IT'S IMPORTANT The new plant represents the firm's strategic push to strengthen its leadership in Brazil's growing premium and pure-malt beer

2025-11-06T18:38:08Z

US flight cuts send airlines, travelers scrambling

By Rajesh Kumar Singh, David Shepardson and Doyinsola Oladipo CHICAGO/WASHINGTON/NEW YORK (Reuters) -U.S. airlines scrambled on Thursday to rejig schedules and field calls from anxious customers after the Trump administration ordered flight reductions at major airports due to a shortage of air traffic controllers during the longest government shutdown in history. The cuts, set to begin on Friday

2025-11-07T00:08:14Z

ESPN and PENN Entertainment to end US sports betting partnership early

(Reuters) -PENN Entertainment and Walt Disney's ESPN have agreed to end their exclusive U.S. online sports betting partnership, effective December 1, the companies said on Thursday. The termination cuts short a 10-year deal signed in August 2023, under which ESPN got $150 million annually for providing PENN marketing services and exclusive right to the ESPN BET brand in the U.S. Both companies "

2025-11-06T12:38:06Z

Shale producer EOG tops profit estimates as output jumps

(Reuters) -EOG Resources beat analysts' estimates for third-quarter profit on Thursday, as higher output helped the U.S. oil and gas producer offset a drop in crude prices. Benchmark Brent crude fell more than 13% in the quarter from a year earlier, but the company got a production boost as it expanded in the Utica and Marcellus regions following its $5.6 billion deal for Encino Acquisition

2025-11-06T22:53:08Z

Under Armour forecasts annual sales, profit below estimates, announces CFO change

(Reuters) -Under Armour forecast annual revenue and profit below Wall Street estimates on Thursday, as the sportswear maker faces a demand decline and rising tariff costs. Shares of the company, which named Reza Taleghani as its finance head after David Bergman stepped down, were marginally lower in premarket trading. Taleghani will take charge as CFO in February 2026, while Bergman will remain

2025-11-06T12:43:12Z

CEO of Southeast Asia's largest bank warns investors: 'Buckle up, we're in for a volatile ride'

DBS CEO Tan Su Shan cautioned investors about persistent market swings amid stretched U.S. valuations and concentrated AI stock exposure.

2025-11-07T05:04:21Z

Qantas flags softer 1H domestic revenue as non-resource corporate demand slows

(Reuters) -Australia's Qantas Airways said on Friday it expects domestic unit revenue for the first half of fiscal 2026 to land at the lower end of its forecast range, citing weaker-than-anticipated demand from non-resource corporate clients. The country's flag carrier said travel demand from the mining and resources sector remained robust, but broader corporate travel was recovering at a slower

2025-11-06T22:53:04Z

Ford considers scrapping F-150 EV truck, WSJ reports

(Reuters) -Ford executives are considering scrapping the electric version of the F-150 pickup truck, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Ford declined to comment on the matter, but said that it was focused on producing gas and hybrid powered variants of its F-150 as it recovers from the fire at Novelis. Last month, a union official told Reuters

2025-11-06T20:03:12Z

Starbucks baristas prep for strike, Bloomberg News reports

(Reuters) -Unionized baristas at Starbucks in the U.S. are preparing to go on strike next week and disrupt one of the coffee chain's busiest days, Bloomberg News reported on Wednesday. Starbucks Workers United said members voted to give leadership the ability to call for a work stoppage at any time, according to the report. Reuters could not immediately verify the report. (Reporting by Chandni

2025-11-05T17:28:12Z

Toyota recalling 1.02 million US vehicles over rear camera flaw

By David Shepardson WASHINGTON (Reuters) -Toyota Motor said Wednesday it is recalling 1.02 million vehicles in the United States due to a flaw that may cause a rear-view camera to fail, boosting the risk of a crash. The recall covers certain 2022 through 2026 Toyota and Lexus model year vehicles -- including Camry, Highlander, RAV4, Prius and Lexus RX, TX, LS, GX, NX and LX -- as well as Subaru

2025-11-05T16:18:09Z

MP Materials quarterly loss widens after stopping sales to Chinese customers

(Reuters) -Rare earths company MP Materials said on Thursday its third-quarter loss widened as it stopped sales to Chinese customers as part of an agreement to receive U.S. government financial backing. The Las Vegas-based company posted a quarterly loss of $41.8 million, or 24 cents per share, compared to a loss of $11.2 million, or 16 cents per share, in the year-ago quarter. (Reporting by

2025-11-06T21:28:11Z

UPS Worldport air hub to resume operations on Wednesday evening, spokesperson says

LOS ANGELES (Reuters) -United Parcel Service is resuming operations at its Worldport air cargo hub in Louisville, Kentucky, on Wednesday evening, company spokesman Jim Mayer said. "Our goal is to begin returning the network to a normal cadence with flights arriving at destinations Thursday morning," Mayer said. (Reporting by Lisa Baertlein in Los Angeles; Editing by Jacqueline Wong)

2025-11-06T02:08:06Z

Apollo-backed Aeromexico valued at $2.8 billion in NYSE debut

(Reuters) -Apollo-backed Grupo Aeromexico's shares rose 0.84% in their New York Stock Exchange debut on Thursday, valuing the Mexican airline at nearly $2.8 billion. The debut coincides with a Trump administration crackdown on Mexican airlines over competition concerns, prompting investors to wait for regulatory clarity. Shares of the company opened at $19.16 apiece, just above the $19 issue

2025-11-06T17:08:03Z

Ralph Lauren raises annual revenue forecast on resilient demand

(Reuters) -Ralph Lauren raised its annual revenue forecast after beating quarterly estimates on Thursday due to resilient demand for its high-priced Polo shirts and cotton cable knit sweaters amid rising economic uncertainty. The owner of several high-end apparel and accessory brands is seeing strong sales across its portfolio despite raising prices of select products, as it benefits from loyalty

2025-11-06T14:18:11Z

United, Delta begin cancelling flights under FAA directive

By David Shepardson (Reuters) -United Airlines and Delta Air Lines both started cancelling Friday flights after the Federal Aviation Administration directed reductions at 40 high-traffic U.S. airports to address air traffic control safety concerns, the carriers said Thursday. United said on Thursday it plans to cut 4% of its flights Friday through Sunday. Delta said it was cancelling around 170

2025-11-06T21:33:09Z

The end is near for policy easing among big central banks

By Naomi Rovnick and Alun John LONDON (Reuters) -Central banks in big economies are nearing the end of their rate-cutting cycles, though some, like the U.S. Federal Reserve and Bank of England - which were more cautious earlier in the year - have scope to ease a little more. Australia, Sweden and Norway all left rates unchanged this week, as did the BoE, albeit in a tight decision. Here's

2025-11-06T14:08:15Z

US airlines seeing impact of shutdown on passenger bookings, trade group says

WASHINGTON (Reuters) -The head of a trade group representing major U.S. airlines told Reuters on Wednesday carriers are beginning to see a drop-off in passenger bookings as a government shutdown hit a record 36th day on Wednesday. "We started seeing as an industry pull back on folks booking their travel plans just over a week ago and it's growing a little bit every day," said Chris Sununu, who

2025-11-05T18:43:11Z

Charles Schwab close to $600 million deal to buy Forge Global, FT reports

(Reuters) -Charles Schwab is expected to announce an acquisition deal for private share marketplace Forge Global in an offer valued at as much as $600 million, the Financial Times reported on Wednesday, according to two people familiar with the terms. Schwab is expected to pay $45 per share for Forge Global, the report added, which would represent a 75% premium to Forge's closing price as of

2025-11-05T23:38:11Z

US-ordered flight cuts cause turmoil for airlines, passengers

By Rajesh Kumar Singh, Shivansh Tiwary and Doyinsola Oladipo (Reuters) -U.S. airlines scrambled on Thursday to rejig schedules and field calls from anxious customers after the Trump administration ordered flight reductions at major airports due to a shortage of air traffic controllers during the longest U.S. government shutdown in history. The cuts, set to begin on Friday, were expected to hit

2025-11-06T21:28:21Z

Netherlands ready to drop control of Nexperia if chip supply resumes, Bloomberg News reports

(Reuters) -The Dutch government is ready to shelve the order that gave it power to block or change key corporate decisions at chipmaker Nexperia if China resumes exports of critical chips, Bloomberg News reported on Friday, citing people familiar with the matter. Reuters could not immediately verify the report. Nexperia did not immediately respond to a Reuters request for comment. Dutch economy

2025-11-07T09:08:03Z

US judge rejects Pfizer's bid to block Metsera from ending merger agreement

By Tom Hals and Sabrina Valle (Reuters) -A Delaware judge on Wednesday rejected Pfizer’s bid to temporarily block Metsera from ending its merger agreement and accepting a higher $10 billion offer from Denmark's Novo Nordisk, the latest twist in the fast-moving takeover battle. Both Pfizer and Novo came in with sweetened offers this week, as the two jockey for position in what some analysts

2025-11-05T22:23:09Z

Australia's Macquarie profit rises but misses estimates on commodities weakness

(Reuters) -Macquarie Group posted a rise in first-half profit on Friday, helped by a strong performance in its asset management and banking and financial services units, although it came up short of expectations as its commodities business weakened. Australia's top investment bank will buy back up to A$2 billion ($1.30 billion) of shares over the next 12 months. Macquarie said net profit

2025-11-06T22:53:11Z

Cummins beats quarterly estimates on strong power generation demand

-U.S. truck engine maker Cummins on Thursday reported third-quarter results above Wall Street estimates, driven by strong demand for its power generation systems and distribution segments, sending its shares up more than 7% before the bell. The company said it would not provide an outlook for the rest of 2025 but plans to issue a forecast for the next financial year in February. Cummins

2025-11-06T14:08:12Z