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Prudential Financial quarterly profit rises on strength in investment management

5 Feb 2025

(Reuters) – Prudential Financial reported a rise in fourth-quarter adjusted profit on Tuesday, as growth in the global investment management business offset weakness in the United States. Markets have rallied as the Federal Reserve’s rate cut injected confidence among investors on the economy avoiding a recession. The sentiment was further boosted by business-friendly policies and …

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Robinhood halts rollout of Super Bowl betting contracts after CFTC request

5 Feb 2025

By Niket Nishant and Manya Saini (Reuters) – Robinhood said on Tuesday it is rolling back the event contracts that would let users bet on the result of the Super Bowl clash this weekend, after the online brokerage received a request from the U.S. Commodity Futures Trading Commission. The halt comes just a day after …

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Coinbase urges US regulators to clear path for banks to offer crypto services

4 Feb 2025

(Reuters) – Coinbase Global on Tuesday renewed its call for U.S. banking regulators to clarify or revise their position on banks offering cryptocurrency services as well as potentially doing tie-ups with companies in the digital assets sector. The crypto exchange’s move comes amid a broader industry push to lobby lawmakers for a regulatory framework to …

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Canada’s Trans Mountain expects more interest in pipeline system if US implements tariffs

4 Feb 2025

HOUSTON (Reuters) – Canadian pipeline operator Trans Mountain said it expects to see increased interest to ship on its system if the United States slaps tariffs on Canadian oil imports in a month. The pipeline, which can carry up to 890,000 barrels per day of crude from Alberta to Canada’s Pacific Coast, has been about …

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ADM 2025 outlook clouded by trade tensions, biofuel policies

4 Feb 2025

By Karl Plume CHICAGO (Reuters) – Global grains trader Archer-Daniels-Midland is slashing costs and cutting staff to weather a commodity downturn made more challenging by uncertainty about U.S. biofuels policies and a brewing trade war, the company said on Tuesday. ADM’s difficulties follow an accounting scandal last year that forced the company to twice revise …

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Encino’s owner mulls $7 billion sale, IPO of energy producer, sources say

4 Feb 2025

By David French (Reuters) -Canadian pension fund CPP Investments is weighing strategic options, including a sale or initial public offering, for Encino Acquisition Partners that could value the U.S. oil and natural gas producer at as much as $7 billion, including debt, people familiar with the matter said. The deliberations come as the energy industry …

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Boeing executive says supplier Spirit Aero has a substantial inventory of 737 fuselages

4 Feb 2025

SEATTLE (Reuters) -Boeing’s key supplier Spirit AeroSystems has a substantial inventory of 737 fuselages that are ready to ship, an executive with the planemaker told a Seattle aerospace conference on Tuesday. The U.S. planemaker is working to grow production of its 737 MAX jet to at least 38 a month this year after drastically curbing …

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GM takes full control of Cruise in autonomous personal vehicle shift

4 Feb 2025

By Kalea Hall and David Shepardson DETROIT (Reuters) – General Motors said on Tuesday it had completed the full acquisition of its Cruise business to focus on developing the autonomous technology for personal vehicles not robotaxis. The Detroit automaker said it plans to integrate the Cruise technology into its Super Cruise system, which allows drivers …

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Insurance broker WTW beats fourth-quarter profit estimates on robust product demand

4 Feb 2025

By Prakhar Srivastava (Reuters) -Insurance broker Willis Towers Watson beat Wall Street estimates for fourth-quarter profit on Tuesday, driven by a strong performance in its risk and brokerage business. Businesses increased spending on insurance products as they prioritized financial security to safeguard against risks, despite higher premium prices. Insurance brokers’ commissions are tied to the …

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