(Corrects APRIL 25 Factbox to show Nippon Steel-U.S Steel is a proposed deal awaiting regulatory approval, bullet point 4) (Reuters) -BHP Group has bid $38.8 billion for smaller rival Anglo American, offering a deal to forge the world’s biggest copper miner. Here is a list of some previous big-ticket deals in the mining sector: – …
Top deals in the global mining sector (April 25) Read More »
By Rajesh Kumar Singh and Shivansh Tiwary (Reuters) -Southwest Airlines is reeling from Boeing’s ongoing safety crisis. On Thursday, the Dallas-based airline said it expects higher costs and slower-than-expected revenue growth as the U.S. plane maker will now be able to deliver it just 20 aircraft this year. That is less than half of its …
Southwest Airlines counts the cost of Boeing’s delivery delays Read More »
By Deena Beasley (Reuters) -Gilead Sciences reported a first-quarter loss on Thursday after taking a $3.9 billion charge for its recent acquisition of liver drug developer CymaBay Therapeutics, while revenue rose 5% on higher HIV, oncology and liver disease treatment sales. For full-year 2024, Gilead said it still expects product sales of $27.1 billion to …
Gilead posts quarterly loss on acquisition charge, revenue rises 5% Read More »
By Chibuike Oguh NEW YORK (Reuters) -Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms. Data on Thursday showed that the U.S. economy grew at its slowest pace …
Wall Street stocks fall as weak GDP growth spreads rate-cut gloom Read More »
By Mehnaz Yasmin and Lananh Nguyen (Reuters) -Brokerage BGC Group’s FMX business is joining forces with some of Wall Street’s biggest banks and traders to take on leading exchange operator CME Group. A group of financial firms including Bank of America, Citadel Securities, Goldman Sachs and JPMorgan Chase made minority equity investments into FMX, valuing …
BGC Group takes aim at ‘heavyweight champ’ CME exchange Read More »
By Niket Nishant and Tatiana Bautzer (Reuters) -First Citizens BancShares’ first-quarter profit beat expectations as the lender earned higher interest income and started seeing benefits of its acquisition of failed Silicon Valley Bank (SVB) last year. Shares surged almost 10% in afternoon trading. Adjusted profit attributable to common stockholders was $769 million, or $52.92 per …
First Citizens profit beats estimates as Silicon Valley Bank stabilizes Read More »
(Reuters) – Walmart said on Thursday that Rob Walton would retire from the board of the big-box retailer at the end of his term on June 5. Walton, the eldest son of Walmart founder Sam Walton, served as the company’s chairman of the board of directors from 1992 to 2015, according to a bio on …
Walmart ex-chairman Rob Walton to retire from board Read More »
By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden will travel to Syracuse, New York, on Thursday to announce a preliminary agreement with memory chip maker Micron Technology for up to $6.14 billion in subsidies for two chip factories, the White House said. The agreement signed by the U.S. Commerce Department will fund facilities …
Biden to announce preliminary deal with Micron for up to $6.14 billion in chip grants Read More »
(Reuters) – Meta Platforms’ shares plunged 14% in premarket trading on Thursday as the social media firm’s comments around prolonged spending on artificial intelligence unnerved investors. The company’s dour expense and revenue forecast on Wednesday sent its shares 15% lower in after-market trading. The selloff erased nearly $200 billion off the Facebook-Instagram parent’s market valuation, …
Meta shares plunge as prolonged AI spending plans unnerve investors Read More »
By Tom Sims and Matthias Inverardi FRANKFURT (Reuters) -Deutsche Bank posted on Thursday a better-than-expected 10% increase in first-quarter profit as a resurgence in fixed-income trading and deal-making propelled revenue at its investment banking division. The gains mean investment banking was able to reclaim its position as Deutsche’s biggest breadwinner from its giant retail division …
Deutsche Bank quarterly profit jumps 10% as investment bank outperforms Read More »
