Reuters US Business

By Sinéad Carew and Johann M Cherian (Reuters) -The benchmark S&P 500 index advanced slightly on Thursday but traded close to the 5,000-point milestone, as investors reacted to earnings reports, a roughly in-line jobs report and remarks from policymakers on interest rate cuts. Under the hood, small-cap indexes outperformed large caps and semiconductor stocks also …

S&P 500 hovers near 5,000 mark with earnings, jobs data in focus Read More »

By Manya Saini and Niket Nishant (Reuters) -Embattled New York Community Bancorp faced its third credit-rating cut on Thursday while default worries from exposure to the beleaguered U.S. commercial real estate (CRE) took its toll on lenders in Europe and Asia. Morningstar DBRS on Thursday downgraded NYCB’s credit rating due to “outsized” exposure to CRE, …

NYCB gets third credit downgrade as CRE exposure worries spill to Europe Read More »

By David Shepardson and Rajesh Kumar Singh WASHINGTON (Reuters) – The Federal Aviation Administration is exploring the use of an independent third-party to oversee Boeing inspections and quality oversight after evidence emerged the planemaker failed to install key bolts on a jet that suffered a midair emergency. The question of oversight came into greater focus …

Could a standalone non-profit be the answer to FAA oversight of Boeing? Read More »

LONDON (Reuters) -Global miner Anglo American on Thursday reported a 24% rise in copper production last year to 826,000 metric tons, lower than a previously forecast range of 830,000-870,000 tons. The company left its 2024 copper output guidance at 730,000-790,000 tons. The metal is used for electric vehicles and renewable infrastructure, key planks of the …

Anglo American posts 24% rise in annual copper output Read More »

By Ananya Mariam Rajesh (Reuters) – Coty beat Wall Street estimates for second-quarter revenue on Wednesday, powered by higher pricing and strong demand for its high-end Burberry and Gucci fragrances and fresh launches of cosmetics in the U.S. during the holiday season. The company’s newer products such as Burberry Goddess and CoverGirl Clean Fresh Yummy …

Coty’s premium fragrances, cosmetics launches drive quarterly revenue beat Read More »

(Reuters) – Media conglomerate News Corp beat Wall Street estimates for second-quarter revenue on Wednesday, driven by growth in digital subscriptions and a rebound in its book publishing unit. News Corp, a part of media baron Rupert Murdoch’s empire, saw a surge in digital subscriptions for its Dow Jones unit, which includes leading publications such …

News Corp beats quarterly revenue estimates on subscription growth Read More »

By Valerie Volcovici WASHINGTON (Reuters) – The U.S. government on Wednesday strengthened air quality standards for soot for the first time in over a decade, predicting $46 billion in health benefits while industry groups warned the move would harm some local economies. The Environmental Protection Agency lowered the allowable concentration of particulate matter smaller than …

US strengthens national soot standards, industry objects Read More »

(Reuters) – Walt Disney CEO Bob Iger announced Disney would acquire a $1.5 billion minority equity stake in Fortnite’s publisher Epic Games in an interview with CNBC. (Reporting by Dawn Chmielewski)

By Medha Singh (Reuters) -Payments from crypto-related ransom attacks nearly doubled to a record $1 billion in 2023, blockchain analytics firm Chainalysis said on Wednesday. Scammers targeting institutions such as hospitals, schools and government offices for ransom pocketed $1.1 billion last year, compared with $567 million in 2022. However, losses stemming from other crypto-related crimes …

Crypto ransom attack payments hit record $1 billion in 2023 – Chainalysis Read More »

(Reuters) – PayPal beat Wall Street estimates for fourth-quarter profit on Wednesday as more Americans used its payments platform for shopping during the holiday season. This was also the company’s first full quarterly results under the stewardship of CEO Alex Chriss, who is expected to announce plans on strategic initiatives later in the day. “We’re …

PayPal beats Q4 profit estimates Read More »