By Tom Polansek and Juveria Tabassum (Reuters) – Smithfield Foods does not plan to close more U.S. pork processing plants, Chief Executive Shane Smith said on Tuesday, as the company returned to a U.S. exchange after more than a decade in a spinoff by Hong Kong-based WH Group. The biggest U.S. pork processor also is …
Smithfield Foods to keep US pork plants open, eyes tariffs amid IPO, CEO says Read More »
By Manya Saini, Niket Nishant and Nupur Anand (Reuters) -The top U.S. consumer watchdog has terminated a 2022 order punishing Wells Fargo for allegedly mishandling auto loans and mortgages, the bank said on Tuesday, bringing it a step closer to having the $1.95 trillion asset cap imposed on the lender removed. The Consumer Financial Protection …
Wells Fargo’s regulatory burden eases further as CFPB terminates 2022 punishment Read More »
By Sneha S K and Sriparna Roy (Reuters) -Bain Capital Private Equity has proposed to acquire the remaining shares of surgical facility operator Surgery Partners it does not already own for $25.75 apiece, a filing showed on Tuesday. Bain Capital has a 39% stake in the company, according to LSEG data. A special committee of …
Bain Capital proposes to take Surgery Partners private Read More »
By Michael S. Derby NEW YORK (Reuters) -U.S. union membership levels declined slightly to record lows last year, a government report said on Tuesday, and now organized labor faces fresh challenges from President Donald Trump’s return to the White House. Some 9.9% of American workers were represented by unions, down from 10% in 2023, according …
US labor union membership slips in 2024 to record low Read More »
(Reuters) -Starbucks announced a slew of changes, including the exit of its North America president Sara Trilling, on Tuesday as CEO Brian Niccol tries to revive demand at the struggling coffee chain. The company also appointed former chief operating officer of Taco Bell, Mike Grams, to the newly created role of North America chief stores …
Starbucks North America head to step down as part of turnaround plan Read More »
By Ananya Mariam Rajesh and Doyinsola Oladipo (Reuters) -Royal Caribbean said on Tuesday that 2025 was shaping up “to be another great year”, with a near 23% jump expected in adjusted earnings, as it benefits from record prices and new river cruise itineraries. Its shares jumped 12% in early trading after the company also forecast …
Royal Caribbean eyes strong 2025 profit on robust cruise demand Read More »
By Tanay Dhumal (Reuters) – XPLR Infrastructure said on Tuesday it will suspend its distribution to unitholders for an indefinite period, sending the company’s shares down 30%. The move comes as XPLR looks to reinvest most of its cash flow to fund its renewable energy investments. Earlier it was focused on raising capital to acquire …
XPLR Infrastructure shares tank on distribution suspension Read More »
By Georgina McCartney HOUSTON (Reuters) – Top U.S. oilfield services firms are facing weaker pricing and revenue this year as oil producers become increasingly efficient and keep a cap on spending, according to oilfield executives and analysts. U.S. producers, mainly shale companies which led a fracking revolution that unlocked vast new supplies of crude from …
US oilfield firms face pricing squeeze as fracking demand slumps Read More »
By Ann Saphir (Reuters) – The U.S. Senate on Monday confirmed Scott Bessent to be President Donald Trump’s Treasury secretary, giving the billionaire hedge fund manager a central role in shaping the new administration’s policy ambitions around tax cuts and spending and managing economic relationships with allies and adversaries alike. As the 79th Treasury secretary, …
Scott Bessent wins Senate confirmation as US Treasury secretary Read More »
By Utkarsh Shetti and Mike Stone (Reuters) -RTX’s quarterly profit and revenue beat estimates on Tuesday, as demand for its aircraft parts and repair services benefited from airlines flying older, maintenance-intensive planes to cope with a jet shortage. Shares of the aerospace and defense major rose about 3.7% in early trading in New York. …
RTX’s upbeat quarterly results outshine cautious 2025 forecast Read More »
