Reuters US Business

By Joey Roulette WASHINGTON (Reuters) -RTX Corp subsidiary Collins Aerospace is in talks with NASA to back out of its contract to build new spacesuits for astronauts on the International Space Station, a setback as the agency struggles with its decades-old spacewalking suits, according to two people familiar with the discussions. The contract was part …

RTX’s Collins in talks to drop ISS spacesuit contract with NASA, sources say Read More »

(Reuters) – Canadian workers’ union Unifor said on Tuesday its members at Bombardier will continue their ongoing strike action after rejecting, what it called, a “final proposal” from the business-jet maker. Two of the union’s local units, 112 and 673, announced the strike action at the company after failing to reach an agreement by June …

Workers to continue strike at Canada’s Bombardier, union rejects company’s proposal Read More »

DUBAI (Reuters) – Dubai will spend 30 billion dirhams ($8.2 billion) to boost its rainwater drainage system after the Gulf city was hit by the heaviest downpours recorded in the UAE in 75 years in April. Dubai, widely considered the Gulf’s tourism and business hub, was brought to a standstill as rains wreaked havoc, damaging …

Dubai to boost rainwater drainage system with $8.2 billion project Read More »

By Andrea Shalal WASHINGTON (Reuters) – The U.S. dollar remains the world’s primary reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global reliance on the dollar, a new study by the Atlantic Council’s GeoEconomics Center shows. The group’s “Dollar Dominance Monitor” said the dollar continued to dominate …

US dollar’s dominance secure, BRICS see no progress on de-dollarization -report Read More »

By Kemol King and Sabrina Valle GEORGETOWN/HOUSTON (Reuters) – Guyana’s lucrative agreement with an Exxon Mobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp. The trio’s combined net margin was 56%, greater than the 49% …

Exxon-led Guyana oil group’s net jumps in 2023, margins top Nvidia’s Read More »

(Reuters) -Boeing has offered to acquire Spirit AeroSystems Holdings in a deal funded mostly by stock that values its key supplier at about $35 per share, Bloomberg News reported on Monday, citing people familiar with the matter. This offer represents a premium of nearly 6% over Spirit’s stock closing price of $33.07 on Monday and …

Boeing offers to buy 737 supplier Spirit Aero for $35/shr, Bloomberg News reports Read More »

By Hernan Nessi and Aida Pelaez-Fernandez BUENOS AIRES (Reuters) -Argentina entered a technical recession in the first quarter of the year, official data showed on Monday, and job losses mounted amid a tough austerity drive by libertarian President Javier Milei who is prioritising restoring fiscal order. The South American country’s gross domestic product (GDP) shrank …

Argentina enters technical recession as job losses mount under Milei Read More »

(Reuters) -TWFG disclosed a nearly 27% jump in annual net profit on Monday, as the insurer revealed the paperwork for its initial public offering in the United States. The U.S. IPO market has seen an uptick in 2024, after a nearly two-year dry spell, as expectations of a soft landing for the economy encourage companies …

TWFG Insurance reveals nearly 27% jump in net profit in US IPO filing Read More »

By Kannaki Deka and Nora Eckert (Reuters) -U.S. auto dealers grappled with a cyber attack-led ongoing software outage on Monday, with some reverting to manual paperwork as car industry technology provider CDK worked to restore systems used by more than 15,000 retail locations. The outage impacting CDK’s dealer management system that is used to complete …

CDK hack upends US auto industry, sending dealers back to paper forms Read More »