By Utkarsh Shetti (Reuters) -Industrial companies have been on a roller-coaster this year as they tried to adjust to the shifting trade policies of U.S. President Donald Trump, but this quarter, executives suggested the confusion may be receding as corporations have had time to adjust to higher levies on U.S. imports of foreign goods. Unlike in …
Industrial giants regain footing as tariff turmoil recedes Read More »
SYDNEY (Reuters) -The CEO of Singapore Telecommunications-owned Optus apologised to Australia’s parliament for an emergency number outage that was linked to four deaths but declined to stand down, citing a need for stability. *Stephen Rue started in the role a year ago following a massive cyber attack and separate half-day outage which resulted in the …
Australia’s Optus CEO apologises for emergency line outage, refuses to stand down Read More »
By Lucy Craymer (Reuters) -A bank solvency stress test conducted by the Reserve Bank of New Zealand found the country’s five largest banks are well placed to withstand the impact of heightened geopolitical risks, the central bank said on Monday. New Zealand central bank is responsible for the prudential supervision and regulation of the country’s …
RBNZ stress test finds top banks strong against geopolitical risks Read More »
By Andrea Shalal (Reuters) -Parts of the U.S. economy, particularly housing, may already be in recession because of high interest rates, U.S. Treasury Secretary Scott Bessent said Sunday, repeating his call for the Federal Reserve to accelerate rate cuts. “I think that we are in good shape, but I think that there are sectors of …
Bessent says high US interest rates may have caused housing recession Read More »
SYDNEY (Reuters) -Australian home prices jumped by the most in more than two years in October as rate cuts and government policies fuelled buyer demand, data from Cotality showed on Monday, while rents also increased. That added to signs financial conditions might not be as tight as thought as the Reserve Bank of Australia worries …
Australia’s home prices surge by most in over two years in October Read More »
By Lewis Krauskopf NEW YORK (Reuters) -A resilient U.S. stocks rally heads into a busy week of corporate results, with investors concerned about the strength of the artificial intelligence trade and about how aggressively the Federal Reserve will cut interest rates. The S&P 500 on Friday ended October up 2.3% for the month, its sixth …
Resilient stocks rally faces earnings wave after AI, Fed wobbles Read More »
By Jonathan Stempel (Reuters) -Berkshire Hathaway signaled on Saturday that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive. For a 12th straight quarter, Buffett’s conglomerate sold more stocks than it bought for its …
Berkshire cash sets record as profit rises, signaling caution ahead of Buffett exit Read More »
RIO DE JANEIRO (Reuters) -Brazilian airline Azul reached a settlement with unsecured creditors, advancing its financial restructuring after having filed for Chapter 11 protection in May, the firm said on Saturday. The settlement represents a significant step in Azul’s Chapter 11 process, as it provides a clear path forward for the firm, it said in …
Brazil’s Azul reaches deal with unsecured creditors in Chapter 11 proceeding Read More »
By Jarrett Renshaw (Reuters) -Now that the United States no longer makes pennies, there is a scramble among gas stations, fast-food chains and big-box stores to adjust prices and round cash transactions, and it could potentially eat into their profits. Pennies are drying up faster than retailers anticipated following President Donald Trump’s decision earlier this year …
US retailers left short-changed as penny production ends Read More »
By David Shepardson and Kanishka Singh WASHINGTON (Reuters) -Nearly 50% of the 30 busiest U.S. airports faced shortages of air traffic controllers, the Federal Aviation Administration said on Friday, leading to flight delays nationwide as a federal government shutdown hit its 31st day. The absence of controllers on Friday is by far the most widespread …
Air traffic control absences surge, hitting almost half of major US airports Read More »
