Reuters US Business

(Reuters) – Around 278,150 Californian homes and businesses were without electricity on Friday morning in Southern California Edison’s service area, as multiple wildfires continued to rage uncontrollably around Los Angeles. A company spokesperson said around 149,000 of those homes were without power due to the Public Safety Power Shutoff plan and 129,000 were because of …

Around 278,150 houses without power in SoCal Edison service area from wildfires Read More »

By Ann Saphir and Howard Schneider (Reuters) -The U.S. job market again defied an anticipated slowdown, with firms adding more than a quarter of a million jobs in the final month of 2024 and leaving Federal Reserve policymakers to puzzle over the need for more interest rate cuts in a strong economy. The gain of …

Strong US job growth raises doubts about further Fed rate cuts Read More »

(Reuters) -Constellation Brands cut its annual sales and profit forecasts after weak consumer spending on its Modelo Oro and Corona Light beers pulled third-quarter results below estimates, taking its shares down 14% on Friday. Lower-income consumers in the U.S., earning $50,000 or less, have traded down to smaller pack sizes of beer and cheaper alternatives, …

Constellation Brands cuts annual forecasts as beer demand weakens Read More »

By Joey Roulette CAPE CANAVERAL, Florida (Reuters) – Jeff Bezos’ Blue Origin is set for an inaugural launch of its giant New Glenn rocket on Sunday, a long-awaited first leap to Earth orbit that sets up one of the biggest challenges yet to industry dominance enjoyed by Elon Musk’s SpaceX. Standing 30 stories tall, New …

Bezos’ Blue Origin’s New Glenn debut to pose long-awaited challenge to SpaceX Read More »

By Zaheer Kachwala and Dawn Chmielewski (Reuters) – Walt Disney, Fox and Warner Bros Discovery on Friday abandoned plans to launch Venu Sports, their live sports joint venture, pulling the plug on the much-heralded effort after it ran into substantial legal opposition. Shares of Warner Bros Discovery were down 4.6%, Fox’s stock fell about 2%, …

Failure to launch: Big media pulls the plug on Venu sports streamer Read More »

(Reuters) – The U.S. Treasury on Friday announced sweeping new sanctions against the Russian energy sector, including oil majors Gazprom Neft and Surgutneftegaz, to try to hinder Moscow in its war with Ukraine. Britain also joined the sanctions against those two companies, the U.S. Treasury said. The sanctions also target more than 180 vessels and …

Factbox-New U.S. sanctions against Russian energy interests Read More »

By Manas Mishra and Sneha S K (Reuters) -Walgreens Boots Alliance beat analysts’ lowered expectations for first-quarter adjusted profit on Friday and indicated that its restructuring was taking hold, sending the U.S. pharmacy chain operator’s shares up nearly 25%. The company has announced thousands of store closures, a $1 billion cost-cutting program, and is exploring …

Walgreens Boots signals turnaround on track as it tops estimates, shares surge Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist investor Barington Capital Group wants TriMas to launch a strategic review of options, including the possible sale of the entire company, arguing in a letter that hiring a financial adviser is a higher priority than finding a new CEO. The New York-based hedge fund, which owns roughly …

Activist Barington urges manufacturer TriMas to consider sale of company Read More »

(Reuters) – U.S. job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% from November’s 4.2% as the labor market ended 2024 on a solid footing, reinforcing the Federal Reserve’s cautious approach to interest rate cuts this year. Nonfarm payrolls increased by 256,000 jobs last month after rising by a downwardly revised …

Surprising Dec US payrolls jump supports longer Fed pause Read More »