(Reuters) – Retailer Costco Wholesale will increase pay for most of its hourly U.S. store workers to more than $30, according to a memo sent to employees this week. The company will increase hourly pay for its top of the scale employees over the next three years, with the pay rising by $1 to $30.20 …
Costco to raise hourly pay for most US store workers to over $30 Read More »
By Tanay Dhumal (Reuters) -Phillips 66 fourth-quarter profit plummeted to $8 million from $1.26 billion last year, hurt by tumbling refining margins, sending shares of the U.S. refiner down 3.2% in morning trade. With new refining capacity coming online and refined product demand faltering in the United States and China, the two largest oil consumers, …
Phillips 66 Q4 profit plunges, shares fall on weak refining margins Read More »
(Reuters) -Starbucks and its union representing more than 10,000 baristas have agreed to bring in a mediator to help resume stalled contract negotiations and reach a deal, they said in a joint statement on Thursday. Talks between the two parties, which began in April last year, were halted in December before a final round, with …
Starbucks, union agree to bring in mediator for contract talks Read More »
(Reuters) -Goldman Sachs’ Ryan Nolan, a partner in the technology, media and telecommunications group and global co-head of software investment banking, is leaving the bank, according to a memo seen by Reuters on Thursday. Nolan is set to join private bank BDT & MSD Partners after about 13 years of service at Goldman Sachs, a …
Goldman Sachs tech banker Ryan Nolan to leave after 13 years, memo says Read More »
By Niket Nishant and Manya Saini (Reuters) – Blackstone said on Thursday its massive investments in data centers would not be undermined by the low-cost artificial intelligence models from China’s DeepSeek, as the need for physical infrastructure was still vital for AI. The alternative asset manager, which has $80 billion worth of leased data centers, …
Blackstone holds firm on data center investments despite DeepSeek turmoil Read More »
SAO PAULO (Reuters) -LATAM Airlines said on Friday it was still too early to discuss potential impacts of a planned merger between its two largest rivals in top market Brazil, but voiced trust in antitrust watchdog CADE to put in place mitigation measures. “What we do not want is a more concentrated market, with fewer …
LATAM Airlines expects mitigation measures amid Gol-Azul tie-up talks Read More »
(Reuters) – Marlboro maker Altria said on Thursday its annual adjusted profit could be lower than estimated, citing rising competition from rival vapes in the market and persistently weaker demand for cigarettes. Shares of the company, which rose nearly 30% in 2024, were down about 2% in premarket trading. Altria and its peers have been …
Altria sees weak annual profit as vape competition heats up Read More »
(Reuters) – U.S. prices increased in December while consumer spending surged, suggesting that the Federal Reserve could delay cutting interest rates for some time this year. The personal consumption expenditures (PCE) price index rose 0.3% last month after an unrevised 0.1% gain in November, the Commerce Department said on Friday. Economists polled by Reuters had …
Instant View: US Dec PCE inflation uptick supports Fed hold Read More »
By Sheila Dang HOUSTON – U.S. oil producer Chevron used the term “Gulf of America” instead of Gulf of Mexico in its fourth-quarter press release on Friday, a sign of corporate America beginning to implement U.S. President Donald Trump’s order to rename the ocean basin. The name change was part of a flurry of executive …
Oil producer Chevron uses term ‘Gulf of America’ after Trump renaming order Read More »
(Reuters) – Toothpaste maker Colgate-Palmolive forecast annual sales below Wall Street expectations after missing quarterly sales estimates on Friday, hurt by weak demand in North America and Latin America for its household products. WHY IT’S IMPORTANT? The company has seen its organic sales growth slow this year due to repeated price hikes which deterred consumer …
Colgate-Palmolive sees weaker annual sales on demand slowdown Read More »
