Reuters US Business

By Dietrich Knauth NEW YORK (Reuters) – Bankrupt Steward Health Care has put all of its 31 U.S. hospitals up for sale, hoping to finalize transactions by the end of the summer to address its $9 billion in total liabilities, its attorneys said at a Tuesday court hearing in Houston. Steward, which filed for bankruptcy …

Bankrupt Steward Health puts its hospitals up for sale, discloses $9 billion in debt Read More »

(Reuters) -Fitch Ratings on Tuesday downgraded embattled regional lender New York Community Bancorp and its bank subsidiary, Flagstar Bank, to ‘BB’ from ‘BB+’. The ratings agency said the downgrade reflects its assessment that NYCB has a weaker earnings and profitability profile coupled with the execution risk associated with its restructuring plan. Fitch, however, said its …

Fitch downgrades New York Community Bancorp to ‘BB’ Read More »

By Zeba Siddiqui SAN FRANCISCO (Reuters) – The U.S. Department of State has been working with a range of security vendors beyond Microsoft since China-linked hackers stole tens of thousands of the department’s emails by breaching the tech giant’s network last year, a senior official said. That hack, which compromised some 60,000 State Department emails, …

US State Dept broadens security vendor list amid Microsoft hacking woes Read More »

By David French (Reuters) -The S&P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year. The advances pushed the S&P 500 to a fourth straight higher close, and its best …

S&P, Dow end slightly up, extend closing streaks despite Disney drag Read More »

(Reuters) -Reddit predicted that it could post an adjusted core profit in the second quarter on the back of strong user growth and an uptick in the advertising market, sending its shares up more than 16% in extended trading on Tuesday. The forecast contrasted with Wall Street expectations of a loss. Reporting its first results …

Reddit predicts surprise core profit in second quarter, shares surge Read More »

(Reuters) – Australia’s Perpetual will be broken up, with its name sold to global investment firm KKR & Co, in a deal worth over A$1.5 billion ($990 million), the Australian Financial Review reported on Tuesday. The transaction will represent the biggest overhaul in the fund manager’s 138-year-old history and will give KKR the Perpetual name, …

Perpetual to be broken up with name being sold to KKR in nearly $1 billion deal, AFR reports Read More »

By Foo Yun Chee BRUSSELS (Reuters) – Microsoft was hit with a Spanish startup group’s complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which followed a trade group’s EU complaint. The U.S. tech giant ranks second in the cloud computing sector, …

Exclusive – Microsoft hit with Spanish startups’ complaint about cloud practices Read More »

By Satoshi Sugiyama TOKYO (Reuters) -Japan may have to take action against any disorderly, speculative-driven foreign exchange moves, the government’s top currency diplomat Masato Kanda said on Tuesday, reinforcing Tokyo’s readiness to intervene again to support a fragile yen. “It is preferable for exchange rates to remain in a stable manner following fundamentals, and if …

Japan warns of action over rapid currency moves Read More »