(Reuters) – Smithfield Foods, the largest pork processor in the U.S., said it priced its initial public offering well below its forecast range, raising $521.7 million for the company and the selling stockholder. The IPO valued the pork producer at $7.95 billion, ahead of a market debut that will see the company return to a …
Smithfield Foods prices IPO below range in US market comeback Read More »
WASHINGTON (Reuters) – A leading defense manufacturer has asked the Trump administration to reform the Pentagon’s contracting system, saying it was too slow and bureaucratic to combat threats from China and Iran, a letter reviewed by Reuters showed. General Atomics Aeronautical Systems Inc. sent the letter dated January 24 to billionaire Tesla CEO Elon Musk, …
Predator drone maker asks Musk’s DOGE to cut Pentagon red tape, letter shows Read More »
By David Shepardson WASHINGTON (Reuters) -A U.S. appeals court on Monday threw out consumer protection rules adopted by the Biden administration to ban bait-and-switch tactics and prohibit auto dealers charging for add-on costs that do not benefit new car buyers. In response to legal challenges brought by the National Automobile Dealers Association (NADA) and a …
US court throws out Biden-era rules designed to protect car buyers Read More »
By Aaditya GovindRao (Reuters) – Australian stocks that are exposed to the artificial intelligence wave fell sharply on Tuesday as investors feared the emergence of a low-cost AI model from Chinese startup DeepSeek would threaten the dominance of current market leaders. Shares of AI software firm Appen fell 3.3%, while AI chipmaker Brainchip lost 10.3% …
DeepSeek’s low-cost model rattles Australian AI shares Read More »
SYDNEY (Reuters) – A measure of Australian business activity rebounded in December as Christmas demand helped the down-beaten retail sector, a survey showed on Tuesday, though confidence remained poor as firms faced rising costs. The survey from National Australia Bank (NAB) showed its index of business conditions rose 3 points to +6 in December, retracing …
Australia business conditions improve in December, survey shows Read More »
(Reuters) -Sage Therapeutics said on Monday that its board has unanimously rejected Biogen’s $469 million offer, stating it “significantly undervalues” the company and does not serve shareholders’ best interests. Biogen, which currently holds a 10.2% stake in Sage, proposed to acquire all outstanding Sage shares it does not already own for $7.22 per share. Shares …
Sage rejects Biogen’s $469 million takeover offer, says offer undervalues company Read More »
By Jonathan Stempel NEW YORK (Reuters) – KuCoin, one of the world’s largest cryptocurrency exchanges, pleaded guilty on Monday to operating an unlicensed money transmitting business, and agreed to more than $297 million in fines and forfeiture, the U.S. Department of Justice said. Peken Global Ltd, which operates as KuCoin, entered its plea before U.S. …
KuCoin pleads guilty, agrees to pay nearly $300 million in US crypto case Read More »
SAO PAULO/RIO DE JANEIRO (Reuters) – The chief executive of Brazilian state-run oil firm Petrobras told Brazilian President Luiz Inacio Lula da Silva during a meeting on Monday that the company will adjust diesel prices, newspaper Folha de S. Paulo reported. CEO Magda Chambriard told Lula the percentage of the adjustment was still being calculated, …
Petrobras CEO told Brazil President it will adjust diesel prices, local media says Read More »
(Reuters) – Insurance brokerage Brown & Brown beat fourth-quarter profit estimates on Monday, driven by robust growth in investment returns and increased commissions and fees. Insurance spending has remained resilient despite economic uncertainties, as businesses and individuals prioritize coverage to safeguard against risks such as natural disasters, cyberattacks and health emergencies. The necessity of protecting …
Brown & Brown quarterly profit beats on higher fees, investment returns Read More »
WASHINGTON (Reuters) – A majority of the U.S. Senate on Monday backed President Donald Trump’s nomination of Scott Bessent to be Treasury secretary and thus a leading voice in managing the country’s economic, fiscal and sanctions policies, as voting continued. (Reporting by Richard Cowan; Editing by Leslie Adler)
