Reuters US Business

By Tim Hepher and Allison Lampert (Reuters) -Boeing 737 MAX jetliner production has fallen sharply in recent weeks as U.S. regulators step up factory checks and workers slow the assembly line outside Seattle to complete outstanding work, industry sources told Reuters. The FAA has imposed a cap of 38 jets a month following a blowout …

Exclusive-Boeing 737 output drops on quality checks, more FAA audits, sources say Read More »

WASHINGTON (Reuters) – U.S. services industry growth slowed further in March, while a measure of prices paid by businesses for inputs dropped to a four-year low, which bodes well for the inflation outlook. The Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing PMI fell to 51.4 last month from 52.6 in February. …

US service sector expands moderately in March; price pressures easing Read More »

By Granth Vanaik and Katherine Masters (Reuters) -Levi Strauss raised its annual profit forecast on Wednesday, citing the apparel maker’s recent cost savings from job cuts and less aggressive discounts on its jeans and denim clothing, sending its shares up about 7% in extended trading. In a bid to cut costs, Levi’s has reduced its …

Levi Strauss raises FY profit target on cost saving initiatives, fewer discounts Read More »

(Reuters) -Shari Redstone, the controlling shareholder of TV giant Paramount Global, has reached a tentative agreement to sell her stake in the company to David Ellison’s Skydance Media, Bloomberg News reported on Wednesday, citing people familiar with the matter. Shares of Paramount surged about 15% to $13.52 in Wednesday’s session. The deal, if consummated, will …

Redstone, Skydance strike tentative deal for Paramount stake, Bloomberg News reports Read More »

By Chibuike Oguh NEW YORK (Reuters) -The S&P 500 and Nasdaq closed higher on Wednesday after data showing the U.S. services industry growth slowed further in March, but the advance was limited after Federal Reserve Chair Jerome Powell indicated a cut in interest was still not in sight. Most of the major S&P 500 sectors …

S&P 500, Nasdaq close slightly higher after soft services sector data, Fed comments Read More »

(Reuters) – Top proxy adviser Institutional Shareholder Services (ISS) on Wednesday recommended investors support a call for an independent board chair at Goldman Sachs. “Shareholders would benefit from more independent oversight in the form of an independent chair,” ISS wrote in a report sent by a representative, ahead of the bank’s annual shareholder meeting on …

Proxy adviser ISS backs call for independent board chair at Goldman Sachs Read More »

By Jody Godoy NEW YORK (Reuters) -Two men pleaded guilty on Wednesday to insider trading in securities in the company that ultimately took former U.S. President Donald Trump’s media business public. Michael Shvartsman, 53, head of Miami-based venture capital firm Rocket One Capital, and his brother Gerald Shvartsman, 46, each pleaded guilty to one count …

Two plead guilty to insider trading related to Trump Media merger Read More »

(Reuters) – Federal Reserve Governor Adriana Kugler on Wednesday said she believes inflation will continue to fall this year as households and businesses trim spending and the supply of goods and services continues to improve. “I expect the disinflationary trend to continue” and help pave the way for rate cuts over the course of the …

Fed’s Kugler says disinflation “to continue” Read More »

By Marion Giraldo MEXICO CITY (Reuters) – The severe drought which has forced the Panama Canal, one of the world’s busiest trade passages, to limit daily crossings could impact global supply chains during a period of high demand, S&P Global said on Wednesday. The canal has imposed several restrictions since 2023, though last month the Panama …

Panama Canal drought could threaten supply chain, S&P says Read More »

By Carolina Mandl (Reuters) – Scott Goodwin, co-founder of credit asset management firm Diameter Capital, said he sees value in investing in bonds and stocks of failed Signature Bank. Goodwin said at the Sohn Conference, in New York, that recent joint-ventures sealed by the Federal Deposit Insurance Corp-run Signature with real estate investors such as …

Diameter Capital’s Goodwin sees value in failed Signature Bank’s bonds, stock Read More »