WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes plunged to a record low in January as higher mortgage rates and house prices reduced affordability for prospective buyers. The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, dropped 4.6% last month to 70.6, an all-time …
US pending home sales tumble to record low in January Read More »
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said on Thursday she expects U.S. central bank interest rate policy is on hold for the time being amid a hunt for evidence that inflation pressures are easing back to the 2% target. With a healthy job market and …
Fed’s Hammack says rates likely on hold for some time Read More »
MEXICO CITY (Reuters) -Mexico’s FEMSA, which controls one of the largest Coca-Cola bottlers and a network of convenience store chains, reported on Thursday a more than double increase in net profit for its fourth quarter compared to the same period last year. The company posted a net profit of 6.79 billion pesos ($325 million), up …
Mexico’s Femsa net profit doubles in fourth quarter, shares surge Read More »
(Reuters) -Stripe on Thursday announced a tender offer for employees and shareholders that valued the company at $91.5 billion, nearly 41% higher than its valuation a year ago, potentially delaying the fintech firm’s ambitions of going public. The deal signals the strong recovery of the global venture capital sector, as central banks have started to …
Fintech firm Stripe valued at $91.5 billion in latest tender offer Read More »
By Georgina McCartney HOUSTON (Reuters) -Lyondell Basell Industries’ will lay off 345 workers, or 86% of the workforce, at its shuttered Houston refinery on April 17, according to a filing with the Texas Workforce Commission. There are around 400 Lyondell employees working at the 263,776 barrel-per-day Houston refinery. About 70% of them are hourly workers …
Lyondell to lay off 86% of workforce at shuttered Houston refinery, filing shows Read More »
(Reuters) – The U.S. Consumer Financial Protection Bureau dismissed its lawsuit accusing Vanderbilt Mortgage and Finance, a unit of Warren Buffett’s Berkshire Hathaway, of driving borrowers into loans they could not afford to buy homes from Berkshire’s Clayton Homes unit. Thursday’s voluntary dismissal is part of a broad retrenchment in enforcement by the CFPB, which …
US CFPB dismisses lawsuit against Berkshire unit over risky home loans Read More »
(Reuters) – Fox Corp on Thursday named former Apple TV+ executive Pete Distad as the CEO of its upcoming subscription streaming platform, which will take on the likes of Netflix and Disney+. The Murdoch family-controlled company plans to launch the yet-to-be-named subscription-based streaming service by the end of 2025 to attract an audience outside its …
Fox Corp names Pete Distad as head of its new subscription streaming platform Read More »
By Marianna Parraga HOUSTON (Reuters) – The cancellation of a license for Chevron to operate in Venezuela could lead to the negotiation of a fresh agreement between the U.S. producer and state company PDVSA to export crude to destinations other than the United States, sources close to the talks said. U.S. President Donald Trump said …
Chevron license termination could lead to new oil export pact in Venezuela, sources say Read More »
By Nivedita Balu and Arasu Kannagi Basil (Reuters) -Three of Canada’s big five lenders – Royal Bank of Canada, TD Bank and CIBC – on Thursday beat analyst expectations for quarterly profit, but took a cautious stand as tariff and trade risks cloud economic outlook. Heightened geopolitical uncertainty and an ongoing tariff threat from the …
Canada’s RBC, TD, CIBC top profit expectations, stay cautious on trade risks Read More »
By Harshita Mary Varghese and Aditya Soni (Reuters) -Warner Bros Discovery said it expects streaming profits to double this year and forecast at least 150 million subscribers for the business by 2026, setting a bold target as it benefits from the global rollout of Max and tight cost controls. Shares of the company rose more …
Warner Bros Discovery expects streaming profits to double, sets 150 million users goal Read More »
