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Prudential Financial’s adjusted profit falls on international business weakness

30 Oct 2024

(Reuters) – Insurer Prudential Financial reported a fall in third-quarter adjusted profit on Wednesday, hurt by weakness in its international business due to less favorable underwriting results and higher expenses. Facing rising claim costs and evolving market pressures, the insurance industry is increasingly tightening policy terms and raising premiums to manage heightened risk. The Newark, …

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US Treasury sees no auction size increases through January, announces $125 billion refunding

30 Oct 2024

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. Treasury Department said on Wednesday it does not anticipate increasing auction sizes for notes and bonds for at least the next several quarters, in line with market expectations, as it announced a $125 billion refunding from November 2024 to January 2025. The department will refund about $116.4 …

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Super Micro Computer says Ernst & Young resigns as auditor, shares tank

30 Oct 2024

(Reuters) -Super Micro Computer said on Wednesday Ernst & Young had resigned as its auditor, sending its shares tumbling more than 30% and deepening investor worries about accounting practices at the artificial intelligence server maker. The company in late August delayed the filing of its annual report, citing a need to assess “its internal controls …

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Booking Holdings beats quarterly profit estimates on healthy international travel

30 Oct 2024

(Reuters) – Online travel agency Booking Holdings beat analysts’ expectations for third-quarter profit and revenue on Wednesday, as resilient demand for international travel offset the weakness in domestic travel in the U.S. and China.  Shares of the company rose 4.3% after the bell.  International travel demand in Europe and many Asian countries has remained steady, …

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Boeing, striking union hold first meeting since latest contract rejection

30 Oct 2024

By David Shepardson (Reuters) -A union representing about 33,000 striking U.S. West Coast factory workers said late on Tuesday it had met with Boeing for the first time since members voted down an improved contract offer from the planemaker last week. The International Association of Machinists and Aerospace Workers Local 751 said with the assistance …

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Does Trump really want to compare now to four years ago?

30 Oct 2024

By Howard Schneider WASHINGTON (Reuters) – Republican presidential candidate and former President Donald Trump’s end-of-campaign arguments to voters choosing between him and Democrat Kamala Harris have focused on an old standby in U.S. politics: Asking voters whether they are better off now than they were four years ago. He may want to check his dates. …

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US consumers keep economy on solid ground ahead of election

30 Oct 2024

By Lucia Mutikani WASHINGTON (Reuters) -The U.S. economy grew solidly in the third quarter, with consumer spending increasing at its fastest pace in 1-1/2 years and inflation slowing sharply, continuing to defy forecasts of a recession and outperforming its global peers ahead of the Nov. 5 presidential election.  The Commerce Department’s advance estimate of third-quarter …

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SkyBridge’s Scaramucci says US will solve debt crisis, bitcoin to triple by 2026

30 Oct 2024

By Mehnaz Yasmin (Reuters) – The U.S. will effectively address its debt crisis by allowing inflation to rise slightly even though it may negatively impact savers and lower- to middle-income households, SkyBridge Capital founder Anthony Scaramucci said on Wednesday, taking a contrarian view to one of the most polarizing economic debates ahead of the Nov. …

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Analysis-US airlines see stronger profits as airfare war ends

30 Oct 2024

By Rajesh Kumar Singh CHICAGO (Reuters) – U.S. airlines appear to have rediscovered their mojo, thanks to a sharp reduction in capacity that plagued the market this summer. Airfares have turned higher, and airline stocks are now outperforming the broader market. That improvement was one reason why American Airlines lifted its full-year profit forecast. It …

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OPEC+ could delay December oil output hike, sources say

30 Oct 2024

By Alex Lawler, Olesya Astakhova and Dmitry Zhdannikov LONDON/MOSCOW (Reuters) – OPEC+ could delay December’s planned increase to oil production by a month or more, four sources close to the matter told Reuters on Wednesday, citing concern about soft oil demand and rising supply. The OPEC+ group combining the Organization of the Petroleum Exporting Countries …

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