By Foo Yun Chee BRUSSELS (Reuters) – EU member states and MEPs struck a preliminary deal on Saturday to ease the bloc’s stringent fiscal rules, giving governments more time to reduce debt as well as incentives to boost public investments in climate, industrial policy and security. The latest revamp of two-decades-old rules known as the …
EU agrees on looser fiscal rules to cut debt, boost investments Read More »
MEXICO CITY (Reuters) – Ratings agency Moody’s on Friday downgraded its rating for Mexico’s state-owned oil firm Pemex by two notches to B3 from B1 previously, citing poorer credit quality. Moody’s, which has a negative outlook for the firm, said it assumed the company was receiving high government support, and that this support could be …
Moody’s cuts indebted oil firm Pemex’s rating by two notches to B3 Read More »
By Sinéad Carew and Sruthi Shankar (Reuters) -S&P 500 closed above 5,000 for the first time on Friday and Nasdaq briefly traded above 16,000, with boosts from megacaps and chip stocks, including Nvidia as investors bet on artificial intelligence technology and eyed strong earnings data. Nvidia finished up 3.6% and hit a record high after …
Megacaps rally pushes S&P 500 to first close above 5,000 milestone Read More »
By Manya Saini and Niket Nishant (Reuters) -New York Community Bancorp’s shares closed up nearly 17% on Friday after top executives disclosed they had bought stock in the U.S. lender. NYCB has taken steps to boost investor confidence in recent days after its shares lost around 50% since Jan. 31, when it posted a surprise …
NYCB shares surge after top executives disclose stake purchases Read More »
By David Randall NEW YORK (Reuters) – As the S&P 500 has soared to fresh highs, fewer stocks have been participating in the rally, stirring worries that recent gains could reverse if the market’s leaders stumble. Strong market breadth, or the number of stocks taking part in a broader index’s rise – is often viewed …
Market breadth suggests narrowing rally as S&P 500 hits records Read More »
(Reuters) -Elon Musk’s brain-chip implant company, Neuralink, changed its location of incorporation from Delaware to Nevada, according to the business portals of both states. The development comes about a week after Musk said Tesla would hold a shareholder vote to transfer its state of incorporation to Texas from Delaware after a judge invalidated his $56 …
Musk’s Neuralink switches location of incorporation to Nevada Read More »
By David Shepardson WASHINGTON (Reuters) -U.S. Federal Aviation Administration chief Michael Whitaker will travel to Seattle early next week to meet with Boeing as the agency audit’s the planemaker’s 737 MAX production process following a mid-air emergency. Boeing, which makes the 737 MAX in the Seattle area, was hit by the latest in a series …
FAA chief to meet with Boeing in Seattle next week Read More »
By Ann Saphir Hurst, Texas (Reuters) – Dallas Federal Reserve Bank President Lorie Logan on Friday said she is in no rush to cut interest rates, and while there has been “tremendous progress” on bringing down inflation, she wants more data to confirm the progress is durable. “The risks that I’m seeing in the economy …
Fed’s Logan: risks more balanced, no urgency on rate cuts Read More »
By Pratyush Thakur (Reuters) -Shares of Expedia Group closed down 18% on Friday, their biggest single-day drop in nearly four years, after the online travel firm said it expected 2024 revenue growth rates to moderate as air fares soften from post-pandemic highs. The company late on Thursday also said Chief Executive Officer Peter Kern would …
Expedia shares sink after 2024 revenue warning on softening air fares Read More »
(Reuters) – American Express’ cumulative cost relating to restructuring programs initiated in 2023 or in prior years that were in progress during 2023 amounted to $277 million, a filing showed on Friday. There were no programs initiated prior to 2022 that were still in progress during 2023, it said. Restructuring expense, which primarily relates to …
AmEx’s cumulative restructuring cost at $277 million in 2023 Read More »
