Reuters US Business

By Christoph Steitz FRANKFURT (Reuters) -Private equity firm Carlyle has dropped out of a bidding process for the warship division of stricken conglomerate Thyssenkrupp, the German company said on Tuesday. Carlyle’s withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is a major blow to Thyssenkrupp’s restructuring, which also includes plans for a 50:50 steel …

Exclusive-Carlyle quits bidding process for Thyssenkrupp marine arm Read More »

By Laila Kearney THREE MILE ISLAND, Pennsylvania (Reuters) – Giant cooling towers at Constellation Energy’s Three Mile Island nuclear plant in Pennsylvania have sat dormant for so long that grass has sprung up in the towers’ hollowed-out bases and wildlife roam inside. Armed guard stations at an entrance to the shut concrete facility, surrounded by …

Three Mile Island nuclear plant gears up for Big Tech reboot Read More »

(This Oct. 17 story has been corrected to clarify the timing of when Berkshire’s stake in Bank of America fell below 10% in paragraph 3) (Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway has unloaded more Bank of America stock as it continues to trim stake in the U.S. banking giant, according to a regulatory filing. …

Buffett’s Berkshire continues to reduce Bank of America stake Read More »

By Michael Erman and Svea Herbst-Bayliss NEW YORK (Reuters) -Activist hedge fund Starboard Value’s chief executive officer said on Tuesday that drugmaker Pfizer’s board needs to hold management accountable for its underperformance, particularly for its record for producing profitable new drugs. “We measure success in producing blockbuster drugs and we all get measured by our …

Starboard Value CEO says Pfizer’s board should hold management accountable Read More »

(Reuters) -Philip Morris International’s (PMI) <PM.N> shares hit record highs on Tuesday after the cigarette maker raised its annual profit forecast and beat third-quarter estimates thanks to higher prices and strong demand for its smoking alternatives. PMI has invested billions of dollars in developing substitutes for cigarettes as health-conscious consumers switch to smoking alternatives in …

Philip Morris shares soar on strong third quarter Read More »

By Kannaki Deka (Reuters) -3M Co raised its full-year profit forecast on Tuesday after strong demand for roofing material, industrial adhesives and electronics equipment helped the U.S. manufacturing giant surpass quarterly profit estimates. The Scotch Tape maker also announced it was reviewing its portfolio and had initiated a sale process for “a few small businesses”. …

3M raises annual profit forecast, explores sale of small businesses Read More »

(Reuters) – Target is reducing prices on more than 2,000 items ranging from snacks to toys and cold medicine in an effort to attract bargain-hunting shoppers during the holiday season, the retailer said on Tuesday. The price reductions will be across national brands and Target’s own private brands, including food and beverages, everyday essentials and …

Target to lower prices on 2,000 items ahead of holiday season Read More »

By Pratyush Thakur and Mike Stone (Reuters) -RTX on Tuesday raised its 2024 adjusted profit and sales forecasts for the second time, citing strong demand for aircraft repairs and defense systems, and reported better-than-expected quarterly earnings. Shares of the Arlington, Virginia-based company were up 2.1% before the opening bell. The aerospace and defense giant expects …

RTX boosts 2024 forecast again on demand for aircraft repairs, defense systems Read More »