Reuters US Business

By Dietrich Knauth NEW YORK (Reuters) -Steward Health Care, which operates 31 hospitals in eight U.S. states, filed for Chapter 11 bankruptcy in Texas on Monday, aiming to secure a new loan from its landlord Medical Properties Trust. Steward, the largest private physician-owned for-profit healthcare network in the U.S., said it would continue serving patients …

US hospital network Steward files for bankruptcy, aims for new loan Read More »

By David French (Reuters) -U.S. stock indexes closed higher on Monday, their third straight session of advances, as investors continued to gain hope that there was a greater chance of the Federal Reserve cutting interest rates this year. Expectations for rate cuts by the U.S. central bank have been tempered as the year has progressed, …

Wall Street closes higher for third session on rate cut optimism Read More »

(Reuters) – Air Lease Corp reported a lower-than-expected quarterly profit on Monday as it made higher interest payments on funds borrowed to finance aircraft purchases. The California-based company’s results have gained in recent quarters as supply of aircraft from the world’s top two planemakers, Boeing and Airbus, have been constrained mainly due to parts and …

Air Lease Q1 profit misses estimates on higher interest expenses Read More »

(Reuters) – United Parcel Service said on Monday that its CFO and Executive Vice President Brian Newman would leave the company on June 1. UPS will evaluate internal and external candidates to replace Newman, the firm said. “My near-term priority is to focus on my health,” Newman said in a statement. The largest parcel delivery …

UPS CFO Brian Newman to step down on June 1, company says Read More »

(Reuters) – Vertex Pharmaceuticals beat Wall Street estimates for first-quarter profit on Monday, driven by robust uptake for its cystic fibrosis treatments. Cystic fibrosis (CF) – an inherited disorder that causes severe damage to the lungs, digestive system and other organs – affects an estimated 105,000 people across 94 countries, according to data from U.S.-based …

Vertex tops Q1 profit estimates on robust demand for cystic fibrosis treatments Read More »

By Davide Barbuscia NEW YORK (Reuters) – The Office of Financial Research (OFR), a U.S. Treasury Department-based research powerhouse, said on Monday it has adopted a final rule that will allow it to collect data on certain transactions in the repurchase agreement (repo) market. Most hedge fund activity in repo markets – where banks and …

US financial markets watchdog to collect data on bilateral repo Read More »

By Seher Dareen and David French (Reuters) -U.S. utility Allete said on Monday that it had agreed a deal with investment firms Global Infrastructure Partners and CPP Investments to be taken private at a $6.2 billion valuation, inclusive of debt. The transaction is a rare example of a U.S. utility being taken private by investment …

US utility Allete goes private in $6.2 billion deal Read More »

By Pete Schroeder WASHINGTON (Reuters) – A trio of U.S. financial regulators have resumed work on a long-delayed rule-writing project to make executive compensation plans at financial firms more sensitive to risk. The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Federal Housing Finance Agency jointly proposed the rule, which would …

US financial regulators restart work on long-delayed compensation rules Read More »

By Rodrigo Campos NEW YORK (Reuters) – New York State lawmakers return from a two-week break on Monday with a month left to decide the fate of a controversial bill that aims to streamline sovereign debt restructurings, with hundreds of billions of dollars in bond contracts on the line. Below are facts about the proposal …

Explainer-What is at stake for sovereign debt bill as New York legislature reconvenes Read More »