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(Reuters) – Textron is exploring strategic alternatives for its Powersports product line due to persistent weak demand, the Cessna jet maker said on Wednesday. The Powersports unit, which is part of the Textron Specialized Vehicles business under the Industrial segment, manufactures snowmobiles and recreational off-road vehicles, as well as parts and accessories for those vehicles, …

Textron weighs options for off-road vehicles business, pauses production Read More »

WASHINGTON (Reuters) -The U.S. current account deficit widened to a record high in the third quarter on strong growth in imports and lower income receipts, with some economists warning of a potential threat to a country already saddled with a large government budget deficit. The Commerce Department’s Bureau of Economic Analysis said on Wednesday the …

US current account deficit hits record high in the third quarter Read More »

By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve will conclude its final meeting of 2024 on Wednesday, and next year will likely be Fed Chair Jerome Powell’s last full one at the helm of the U.S. central bank, with his four-year term due to expire in May of 2026. Powell’s more than six years …

Powell has a long to-do list for his last full year as Fed chief Read More »

(Reuters) – Novo Holdings, the controlling shareholder of Novo Nordisk, on Wednesday sealed its $16.5 billion deal for Catalent, as the Danish drugmaker looks to boost supplies of its widely popular weight-loss drug Wegovy. Novo Nordisk will take control of three fill-finish facilities of the contract drug manufacturer in Italy, Belgium, and the U.S. as …

Novo Holdings closes $16.5 billion buyout of contract manufacturer Catalent Read More »

By Lisa Baertlein LOS ANGELES (Reuters) – When U.S. presidential candidate Donald Trump started talking about new import tariffs on the campaign trail, Danny Reynolds checked the tags on wedding dresses in his bridal salon and sped up some shipments to his independent clothing store in Indiana. “I was grabbing tags specifically to look at …

Trump tariff threat helps lift US ocean imports Read More »