(Reuters) -Cash-strapped electric luxury sedan maker Lucid said on Thursday a combined public offering and private placement of roughly 637 million shares would likely fetch it $1.67 billion. The stock sale as well as its latest warning of a bigger-than-expected loss for the third quarter sent Lucid shares down as much as 16.5% to $2.74, …
EV maker Lucid expects to raise $1.67 billion from stock sale Read More »
HOUSTON (Reuters) – Cheniere Energy moved one step closer to producing first liquefied natural gas from a Corpus Christi, Texas, expansion project on Thursday after it received permission from federal regulators to put a supply line into operation. Cheniere is the largest U.S. LNG exporter and the world’s second largest producer of the superchilled gas. …
Cheniere Energy moves closer to starting new Texas LNG export operation Read More »
(Reuters) – The U.S. government fund that backstops nearly $10 trillion in insured bank deposits is recovering ahead of schedule from declines and losses in recent years, while the banking system remains largely resilient, U.S. Federal Deposit Insurance Corporation officials said on Thursday. Last year’s spring banking crisis, which involved the second-, third- and fourth-largest …
Recovery of US bank failure fund ahead of schedule, FDIC says Read More »
WASHINGTON (Reuters) – U.S. business inventories increased in August, lifted by stocks at retailers, government data showed on Thursday. Inventories rose 0.3% after a similar gain in July, the Commerce Department’s Census Bureau said. The increase in inventories, a key component of gross domestic product, was in line with economists’ expectations. Inventories advanced 2.4% on …
US business inventories rise in August on retail stocks Read More »
By Katie Paul NEW YORK (Reuters) – Facebook owner Meta said on Thursday it had teamed up with Blumhouse Productions, the Hollywood company behind popular horror films such as “The Purge” and “Get Out,” to put its new generative AI video model Movie Gen to the test. The announcement comes after Meta unveiled Movie Gen, …
Meta partners with Hollywood’s Blumhouse to test out its AI movie generation model Read More »
WASHINGTON (Reuters) – U.S. industrial production fell in September, weighed down by a strike at Boeing and two hurricanes, including Helene. Industrial output dropped 0.3% last month after a downwardly revised 0.3% gain August, the Federal Reserve said on Thursday. Economists polled by Reuters had forecast industrial production falling 0.2% after a previously reported 0.8% …
Boeing strike, Hurricane Helene weigh on US industrial production Read More »
By Matt Tracy (Reuters) – Hurricane Milton tore through Florida last week, causing as much as $55 billion in property damage throughout the Sunshine State, according to the latest analyst estimates. Hitting just two weeks after Hurricane Helene, Milton was the latest in a series of major hurricanes in recent years to disrupt Florida’s property …
Factbox-Homeowner insurers’ responses after hurricane hits Florida Read More »
By Michelle Conlin and Matt Tracy NEW YORK/WASHINGTON (Reuters) – For 32 years, Jim Tynan had a homeowners’ policy with Allstate on his 1,200-square foot condo in Ponte Vedra, Florida. In January, Tynan’s Allstate subsidiary told him it was going to drop him. Tynan called ten different agencies, “and none would cover me,” he said. …
Florida homeowners fear soaring insurance cost after hurricanes Read More »
(Reuters) – U.S. home builder confidence rose in October for the second consecutive month but volatile mortgage rates and low housing affordability continued to pose headwinds. The NAHB/Wells Fargo Housing Market Index of builder confidence increased to 43 this month from 41 in September, the National Association of Home Builders said on Thursday. A Reuters …
US home builder confidence rises for second straight month Read More »
By Naomi Rovnick and Alun John LONDON (Reuters) – Seven of the 10 big developed-market central banks tracked by Reuters have now started easing policy, with expectations of how quickly each will move swinging back and forth as policymakers stress data dependency. Here’s where major rate-setters stand and what traders expect next. 1/ SWITZERLAND Demand …
