By Pete Schroeder WASHINGTON (Reuters) – A top U.S. bank regulator warned on Wednesday the agency may begin pushing back against the “worrisome trend” of states adopting laws meant to police national bank activities on political grounds. Michael Hsu, head of the Office of the Comptroller of the Currency (OCC), said in a speech that …
US bank regulator warns against ‘worrisome’ state laws targeting banks Read More »
By Arsheeya Bajwa (Reuters) -Wall Street’s semiconductor index lost more than $500 billion in stock market value on Wednesday in its worst session since 2020 after a report said the United States was mulling tighter curbs on exports of advanced semiconductor technology to China. Remarks from Republican presidential nominee Donald Trump saying key production hub …
Chip stocks shed over $500 billion in value on China trade fears Read More »
By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Wednesday forecast lower-than-expected profit in the current quarter as the industry grapples with excess seat capacity in the domestic market, which has undermined airlines’ pricing power. The Chicago-based carrier expects an adjusted profit in the range of $2.75 to $3.25 per share in the quarter …
United Airlines Q3 profit outlook disappoints amid industrywide discounting pressure Read More »
By Jonathan Stempel NEW YORK (Reuters) – A former Goldman Sachs and Blackstone analyst was sentenced to 28 months in prison on Wednesday for insider trading, after admitting that his conduct was “catastrophically stupid.” Anthony Viggiano, 27, of Baldwin, New York, was sentenced by U.S. District Judge Valerie Caproni in Manhattan, after pleading guilty in …
Former Goldman, Blackstone analyst gets 28-month prison sentence for insider trading Read More »
By David Shepardson WASHINGTON (Reuters) -The National Transportation Safety Board said on Wednesday it had scheduled 20 hours of hearings over two days on the January Alaska Airlines Boeing 737 MAX 9 in-flight door plug emergency and would review oversight by U.S. safety regulators. The NTSB said on its website the Aug. 6-7 hearings are …
US safety board to hold hearings on Boeing 737 MAX door incident Read More »
(Reuters) -U.S. pipeline and terminal operator Kinder Morgan on Wednesday missed Wall Street estimates for second-quarter profit and revenue, weighed down by higher costs and weakness in its CO2 segment. Shares of the company were down 3.8% in trading after the bell. Kinder Morgan, which is the largest operator of carbon dioxide (CO2) pipelines in …
Pipeline operator Kinder Morgan Q2 results miss estimates Read More »
By Stephen Culp (Reuters) -The S&P 500 and the Nasdaq tumbled on Wednesday as plunging microchip shares, in the face of potential escalation of U.S. trade conflicts with China, exacerbated the ongoing rotation out of megacap tech-related stocks. A report that the Biden administration is considering severe trade restrictions against China sent microchip stocks down …
Nasdaq, S&P 500 end sharply lower, hit by chips, megacaps; Dow extends rally Read More »
(Reuters) – Fortescue will reduce about 700 jobs, or 4.5% of its global workforce, in a fresh restructuring round, the Australian miner said on Wednesday, as it appointed acting Chief Financial Officer Apple Paget as its permanent group finance chief. The restructuring underscores a weak outlook for iron ore prices as demand from top consumer …
Australia’s Fortescue to cut about 700 jobs; appoints insider Apple Paget as CFO Read More »
(Reuters) -Adidas shares jumped as much as 5% on Wednesday, hitting their highest in over two years, after the German sportswear company hiked its full-year guidance for the second time this year, having beaten expectations with its second-quarter results on Tuesday. “We see the strength in 2Q24 still led by terrace Originals franchises — Samba …
Adidas jumps 5% after second outlook hike, strong Q2 Read More »
MILAN (Reuters) -EssilorLuxottica has agreed to buy streetwear brand Supreme from VF Corporation for $1.5 billion, both companies said on Wednesday, marking the first acquisition of an apparel company for the French-Italian eyewear maker. In a separate statement, EssilorLuxottica said it had agreed to buy an 80% stake in family-owned Heidelberg Engineering, a German company …
EssilorLuxottica to buy Supreme for $1.5 billion, shares down 2.5% Read More »
