By Bhanvi Satija and Sneha S K (Reuters) -Walgreens Boots Alliance said on Thursday it plans to close about 650 to 700 underperforming stores in the U.S., having cut its profit forecast for fiscal 2024 as weak consumer spending hurt retail operations. It also plans to shut up to 650 Boots stores in the UK …
Walgreens cuts profit view, to close up to 700 US stores on spending hit Read More »
By Dietrich Knauth NEW YORK (Reuters) -Bankruptcy may become a less attractive way to resolve sprawling lawsuits after a U.S. Supreme Court ruling scuttled OxyContin maker Purdue Pharma’s Chapter 11 settlement and sharply scaled back a court’s ability to wipe away legal claims against entities that have not filed for bankruptcy themselves. Bankruptcy courts offer …
By David Shepardson WASHINGTON (Reuters) -The National Transportation Safety Board said early on Thursday it was sanctioning Boeing for disclosing non-public details of the ongoing investigation into a 737 MAX mid-air emergency and referring its conduct to the Justice Department. The NTSB said Boeing had “blatantly violated” the agency’s investigative regulations by providing “non-public investigative information to the …
NTSB sanctions Boeing over release of 737 MAX investigation details, flags to DOJ Read More »
By Pete Schroeder and Nupur Anand WASHINGTON (Reuters) -The biggest U.S. banks would have enough capital to withstand severe economic and market turmoil, the Federal Reserve’s annual “stress test” exercise showed on Wednesday, but firms faced steeper hypothetical losses this year due to riskier portfolios. The exercise found 31 big banks would weather a spike …
US banks suffer steeper losses, but retain large cushions in annual Fed health check Read More »
By Suzanne McGee and Hannah Lang (Reuters) – The U.S. Securities and Exchange Commission could approve exchange traded funds (ETFs) tied to the spot price of ether as soon as July 4, as talks between asset managers and regulators enter the final stages, industry executives and other participants told Reuters. Eight asset managers, including BlackRock, …
US regulators could approve spot ether ETFs for launch by July 4, sources say Read More »
By Hannah Lang (Reuters) -Financial regulators in 25 U.S. states announced on Wednesday a settlement with cryptocurrency investment platform Abra and its CEO for operating without required state licensing. As part of the settlement, Abra last year agreed to stop accepting crypto from U.S. Abra Trade account customers into its products and services, the Conference …
Crypto firm Abra reaches settlement with US states for operating without licenses Read More »
By Lananh Nguyen and Pritam Biswas (Reuters) -Jefferies Financial on Wednesday beat analysts’ estimates for second-quarter profit as the bank earned higher fees from advising on deals as well as underwriting stock and bond sales. Its earnings, viewed as an early indicator of results at major investment banks such as Goldman Sachs and Morgan Stanley, …
Jefferies Q2 profit beats estimates on dealmaking rebound Read More »
(Reuters) -Levi Strauss fell short of market expectations for second-quarter revenue on Wednesday and maintained its annual earnings forecast, taking its shares down 11% in extended trading. Apparel makers such as Levi and peer Ralph Lauren have worked to prioritize higher margin products and increase penetration through their direct-to-consumer channels. An inventory glut last year …
Levi Strauss posts quarterly revenue miss, maintains annual forecasts Read More »
By David Shepardson WASHINGTON (Reuters) -A group of 26 state attorneys general led by West Virginia and Kentucky on Wednesday challenged the Biden administration’s new fuel economy rules, calling the requirements unworkable and saying they would force automakers to build more electric vehicles. The National Highway Traffic Safety Administration earlier this month finalized tighter vehicle …
Republican state AGs challenge new US fuel economy rules Read More »
By Fabian Cambero SANTIAGO (Reuters) -Chile’s state mining giant Codelco, one of the world’s largest copper producers, fell further behind its production target in May, an internal document obtained by Reuters showed, underscoring the challenge to revive output at a 25-year low. The mining firm, which has yet to publicly release data for May, produced …
Exclusive-Codelco copper output falls behind target in May, document shows Read More »
