Reuters US Business

By Toby Sterling AMSTERDAM (Reuters) -Chipmaking equipment maker ASML Holding on Wednesday reported fourth-quarter earnings that beat expectations and its best-ever quarterly orders, but it kept a cautious outlook for 2024 as it faces new restrictions on exports to China. Net profit at Europe’s biggest technology company by market value rose 9% to 2.0 billion …

ASML orders surge to record in Q4, but keeps 2024 outlook unchanged Read More »

JERUSALEM (Reuters) – Billionaire hedge fund manager Bill Ackman and his Israeli-born wife Neri Oxman have agreed to buy an equity stake of around 4.9% in the Tel Aviv Stock Exchange (TASE), the Israeli bourse said on Wednesday. The purchase was part of the TASE’s secondary offering of 18.5% of its shares, in which it …

Bill Ackman, wife buy 4.9% stake in Israeli stock exchange Read More »

(This Jan. 23 story has been refiled following clarification from a Lucid official and adds the word ‘solely’ in paragraph 27) By Pesha Magid RIYADH (Reuters) – Riyadh has spent billions to try to turn itself into a hub for electric vehicles and overcome obstacles including a lack of infrastructure, talent and raw materials, as …

Riyadh’s multi-billion EV dream risks crashing into reality Read More »

By Noel Randewich and Ankika Biswas (Reuters) -The S&P 500 climbed to a record high close on Tuesday as investors digested a mixed bag of early quarterly results and awaited a slew of additional reports from Tesla and other companies later this week. It was the third straight all-time high for the benchmark stock index, …

S&P 500 notches third straight record high close Read More »

By Amina Niasse NEW YORK (Reuters) -Unemployment rates increased in 15 U.S. states in December, up by three from the prior month, but was unchanged in the majority of states and the District of Columbia, a report showed on Tuesday. Nonfarm payroll employment levels, meanwhile, remained essentially unchanged in all states last month from November, …

Unemployment rises in nearly a third of US states in December Read More »

By Karl Plume CHICAGO (Reuters) -An investigation into accounting practices in Archer-Daniels-Midland’s Nutrition segment could not come at a worse time for the company as sinking crop prices look set to erode profit for its core grain trading and processing businesses this year. Before news of the accounting issues broke and sent ADM shares tumbling …

Accounting probe hits ADM as crop glut, lower margins point to tough 2024 Read More »

(Reuters) -Texas Instruments forecast quarterly revenue below market estimates on Tuesday, as chip inventory builds up in its key markets with initial signs of weakness in the automotive sector. The analog chipmaker’s shares fell about 4% in extended trading. The pressure of high borrowing costs has dampened end-market demand for the automotive industry. U.S. new …

Analog chipmaker Texas Instruments forecasts quarterly revenue below estimates Read More »

By Dan Burns (Reuters) -U.S. union membership rates fell to fresh record lows in 2023 despite it being a year of headline-grabbing organized labor strikes from the Rustbelt to Hollywood and some continued organizing successes at companies such as Starbucks. The union membership rate fell to 10.0% from what had already been a record-low 10.1% …

US union membership rate hits fresh record low in 2023 -Labor Dept Read More »

By Jonathan Stempel NEW YORK (Reuters) -Martin Shkreli, known for once hiking the price of a life-saving drug more than 4,000%, cannot return to the pharmaceutical industry after a federal appeals court on Tuesday upheld his lifetime ban. A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court …

Martin Shkreli’s lifetime drug industry ban upheld Read More »

FRANKFURT (Reuters) – Euro zone banks expect a small rebound in the demand for mortgages and loans to companies early this year as a slump in lending shows early signs of moderating, a European Central Bank survey showed on Tuesday. The ECB’s quarterly Bank Lending Survey showed lenders continued to tighten access to credit in …

Euro zone banks expect rebound in mortgage applications – ECB poll Read More »