Reuters US Business

By Juveria Tabassum (Reuters) -Coca-Cola’s limited edition flavors of its sodas and price hikes powered a surprise rise in quarterly revenue amid sluggish demand in the packaged foods industry, sending its shares up about 3%. Volumes in the sparkling drinks segment, featuring seasonal flavors such as Sprite winter spice cranberry and Fanta Beetlejuice, returned to …

Coca-Cola’s demand recovery, higher prices drive surprise revenue jump Read More »

By Sheila Dang HOUSTON (Reuters) – Chevron’s oil and gas reserves have fallen to the lowest point in at least a decade, highlighting the importance of the U.S. major’s planned acquisition of oil producer Hess that has stalled due to a court battle with Exxon Mobil.  Reserve replacement is one of the key metrics for …

Chevron struggles to replace oil, gas reserves amid Hess deal limbo Read More »

(Reuters) -Activist Elliott Investment Management has built an over $2.5 billion stake in U.S. oil refiner Phillips 66 and plans to push for operational changes to boost its stock, a person familiar with the matter told Reuters on Monday. Elliott plans to push Phillips 66 to sell or spin off its midstream business, the person …

Elliott builds over $2.5 billion stake in Phillips 66, seeks operational changes, source says Read More »

(Reuters) – Air-taxi maker Archer Aviation said on Tuesday it has raised $300 million in a funding round that consisted of institutional investors including accounts managed by BlackRock. Archer expects the capital raise to help it accelerate the development of its hybrid aircraft platform and further reinforce its balance sheet. “We are raising additional capital …

Archer Aviation raises $300 million in BlackRock-backed funding Read More »

WASHINGTON (Reuters) – The United States joined Australia and Britain in targeting Russia-based Zservers service provider for its role in supporting the Lockbit ransomware attacks, the U.S. Department of Treasury said on Tuesday, citing national security concerns. U.S. Treasury’s Office of Foreign Assets Control also designated two Russian nationals who they said were key administrators …

US, UK, Australia target Russia-based Zservers over Lockbit ransomware attacks Read More »

(Reuters) -Apple is partnering with Alibaba to roll out artificial intelligence features for iPhone users in China, the Information reported on Tuesday, citing one person with direct knowledge of the decision. The development could clear months of uncertainty over Apple’s AI strategy for China, where it has been losing market share to domestic rivals, including …

Apple teams up with Alibaba to bring AI features for iPhones in China, The Information reports Read More »

By Ludwig Burger and Ariane Luthi (Reuters) -Swiss pharmaceutical giant Novartis has agreed to acquire Anthos Therapeutics, a biopharma firm majority-owned by Blackstone’s drug development unit, for up to $3.1 billion, to boost its cardiovascular business. Anthos was founded by private equity firm Blackstone’s Life Sciences business and by Novartis in 2019 to develop, manufacture, …

Novartis buys Blackstone’s Anthos for up to $3.1 billion Read More »

By Manya Saini and Nivedita Balu (Reuters) -Canada’s Toronto-Dominion Bank said it would offload its entire 10.1% stake in U.S. financial services firm Charles Schwab for about $14.6 billion, as part of a strategic review undertaken following a landmark U.S. fine. TD holds 184.7 million shares in Charles Schwab, out of which it will sell …

Canada’s TD Bank to exit Charles Schwab stake for about $14.6 billion Read More »

(Refiles to add omitted text) By Joey Roulette, Eduardo Baptista, Sarah El Safty, Joe Brock (Reuters) -On the outskirts of Cairo, a cutting-edge space lab was supposed to be the first in Africa to produce homegrown satellites. Step inside the plant, though, and the made-in-Africa image begins to fade Satellite equipment and parts arrive in …

China builds space alliances in Africa as Trump cuts foreign aid Read More »