Reuters US Business

By Sinéad Carew and Ankika Biswas (Reuters) -The S&P 500 closed slightly lower on Monday after a choppy trading day as investors took a pause ahead of economic data and Fed Chair Jerome Powell’s congressional testimony. Apple closed down 2.5% following a $2-billion EU antitrust fine for preventing Spotify and other music streaming services from …

S&P 500 edges lower as investors hold their breath ahead of economic data Read More »

By Rajesh Kumar Singh and Shivansh Tiwary NEW YORK (Reuters) -American Airlines on Monday unveiled its biggest plane order since 2011, buying 260 new jets from Airbus, Boeing and Embraer as it looks to increase earnings by capitalizing on booming demand for premium travel. The deal includes 85 Airbus A321neo jets, 85 Boeing 737 MAX …

American Airlines places its biggest plane order in more than a decade Read More »

By David Shepardson and Aatreyee Dasgupta WASHINGTON (Reuters) -Low-cost air carriers JetBlue Airways and Spirit Airlines canceled their $3.8-billion merger agreement on Monday, conceding no path forward after a U.S. judge blocked the deal in January on anti-competition concerns. A successful deal would have created the fifth-largest carrier in the United States and ensured Spirit’s …

JetBlue, Spirit Airlines call off $3.8 billion merger on antitrust hurdle Read More »

By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration said the agency’s 737 MAX production audit into Boeing and supplier Spirit AeroSystems found multiple instances where the companies allegedly failed to comply with manufacturing quality control requirements. The FAA also said it found “non-compliance issues in Boeing’s manufacturing process control, parts handling and storage, and …

US FAA hits Boeing 737 MAX production for quality control issues Read More »

(Reuters) – The sports streaming venture formed by Walt Disney, Warner Bros Discovery and Fox Corp expects to have 5 million subscribers in its first five years, Fox CEO Lachlan Murdoch said on Monday. The companies last month announced plans for the sports-centric service that is hoping to get younger viewers and will launch later …

Fox, Disney, Warner Bros Discovery sports venture expects 5 million subscribers in five years Read More »

(Reuters) -BofA Global Research has lifted its year-end target for the S&P 500 index to 5,400, from 5,000 earlier, representing an upside of about 5% from current levels. The brokerage has joined peers Barclays, UBS, and Goldman Sachs in predicting the index would finish the year in a range of 5,200 to 5,400. U.S. stocks …

BofA boosts S&P 500 year-end target to 5,400 Read More »

By Timothy Gardner WASHINGTON (Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have …

US funding bill blocks China from buying oil from Strategic Petroleum Reserve Read More »