By Fergal Smith TORONTO (Reuters) – Canada’s main stock index pulled back from a record high on Thursday as Toronto-Dominion Bank reported its first loss in over two decades and a railroad stoppage threatened to disrupt the domestic economy. The S&P/TSX composite index ended down 84.26 points, or 0.4%, at 23,037.47, after posting a record …
Toronto market ends lower as rail stoppage threatens economy Read More »
(Reuters) -Uber and General Motors-backed Cruise said on Thursday Cruise will deploy its autonomous vehicles on the ride-hailing company’s platform as part of a multi-year deal. The partnership, which will be launched next year, will allow Uber riders to choose a trip using a Cruise autonomous vehicle. Shares of GM rose more than 1% in …
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(Reuters) -Most brokerages forecast a 25 basis points interest rate reduction by the Federal Reserve in September, while J.P. Morgan, Citigroup and Wells Fargo expect a 50 bps rate cut next month. The U.S. unemployment rate jumped to a near three-year high of 4.3% in July, which stoked fears of a recession earlier in August. …
Factbox-Major brokerages expect Fed to lower rates in September Read More »
By Maria Martinez BERLIN (Reuters) – German business activity contracted in August for a second consecutive month and by more than expected, a preliminary survey showed on Thursday. The HCOB German flash composite Purchasing Managers’ Index, compiled by S&P Global, fell to 48.5 in August from 49.1 in July, below the 49.2 forecast in a …
German business activity contracts in August, PMI shows Read More »
COPENHAGEN (Reuters) – Sweden’s AB Volvo said on Thursday it had received an order for 300 electric trucks from Danish logistics firm DSV. The order, one of the largest electric ones for Volvo Trucks to date, represents about 8% of the total 3,800 electric trucks that the Volvo unit has delivered since 2019, it said …
Volvo wins order for 300 electric trucks from DSV Read More »
(Reuters) – Walt Disney said on Wednesday it has named board member and Morgan Stanley’s executive chairman James Gorman to chair its succession planning committee, which is looking for the next chief executive officer. (Reporting by Tanay Dhumal in Bengaluru;Editing by Arun Koyyur)
(Reuters) -Microsoft on Wednesday restructured how it reports results for its business units, moving some search and news advertising revenue under the Azure cloud-computing unit as the tech giant looks to offer investors a clearer picture on AI contributions. The company said it was also moving revenue from the AI and speech technology services Nuance …
Microsoft rejigs reporting on business units, offers clarity on AI benefits Read More »
NEW YORK (Reuters) -Fixed income manager Western Asset Management, a unit of investment manager Franklin Templeton or Franklin Resources, said on Wednesday it had replaced a top investment executive and would shutter a $2 billion fund amid federal investigations into his conduct. Michael Buchanan has been named chief investment officer with immediate effect, replacing Ken …
Franklin Templeton unit replaces investment chief, closes $2 billion fund amid US probes Read More »
By Kylie Madry MEXICO CITY (Reuters) – Mexican airline Viva Aerobus believes the U.S. government’s pause on reviewing a proposed tie-up with Nevada-based Allegiant Air is political rather than technical, the Mexican carrier’s chief executive said on Wednesday. U.S. regulators suspended the review of the joint venture last year, citing concerns over actions by the …
Viva Aerobus boss says politics grounding Allegiant tie-up Read More »
(Reuters) -Canada’s TD Bank Group said on Wednesday it expects to finalize a global resolution of civil and criminal investigations by U.S. regulators into its anti-money laundering (AML) program by the calendar year-end. In anticipation of the resolution, which will include monetary and non-monetary penalties, the lender said it has taken a further provision of …
TD Bank expects to finalize resolution of anti-money laundering probe by year-end Read More »
