(Reuters) -Corporate travel and expense company Navan on Wednesday priced its initial public offering at $25 per share, within its marketed range of $24 to $26 per share, raising about $923.1 million and reinforcing a strong momentum for fresh flotations. The Palo Alto, California-based firm sold 30 million shares to raise $750 million, while existing …
Travel tech firm Navan’s IPO raises about $923 million Read More »
(Reuters) -Nomura said it now expects the U.S. Federal Reserve to keep interest rates unchanged at its December policy meeting, following the central bank’s decision to cut rates on Wednesday. The Japanese brokerage had previously expected a 25-basis point (bp) interest rate cut in December. The U.S. central bank trimmed interest rates by a quarter …
Nomura expects no more Fed rate cuts in 2025 after October easing Read More »
By Melanie Burton MELBOURNE (Reuters) -First-quarter revenue at Australia’s Lynas Rare Earths rose by 66% from a year earlier, the company said on Thursday, but missed market expectations, though it flagged strong demand from existing and emerging customers for strategic metals. Governments outside dominant rare earths producer China have been scrambling to develop an alternative …
Australia’s Lynas Rare Earths says demand is strong as revenue jumps Read More »
(Reuters) -Microsoft said on Wednesday they are investigating an issue in which Microsoft 365 Cloud and Office.com were reported to be inaccessible. (Reporting by Disha Mishra in Bengaluru; Editing by Sumana Nandy)
By Rishabh Jaiswal (Reuters) -Universal Music Group said on Wednesday it has settled a copyright infringement case with artificial intelligence company Udio and that the two firms will collaborate on a new suite of creative products. Under the agreement, the companies will launch a platform next year that leverages generative AI trained on authorized and …
Universal Music settles copyright dispute with AI firm Udio Read More »
By Sneha Kumar (Reuters) -Australia’s Coles posted a rise in first-quarter sales, maintaining its lead over Woolworths, but analysts said the gap between the supermarket operators may be narrowing as Woolworths offers more discounts and better aligns inventory with demand. Shares in Coles, the country’s second-largest grocer, fell as much as 2.9% to their lowest …
Australia’s Coles keeps sales growth lead but markets bet on Woolworths revival Read More »
By Juveria Tabassum and Waylon Cunningham (Reuters) -Starbucks posted its first quarter of gains in comparable sales after nearly a year and a half on Wednesday, led by international markets, but margins took a hit from the surging coffee bean cost. Growth still eluded the company’s largest market, the U.S., as consumers watched their budgets …
Starbucks sales rebound globally, coffee prices bite margins Read More »
(Reuters) -Australian non-bank lender Pepper Money said on Thursday it is part of a consortium that is negotiating with major financial institution Westpac over acquiring the latter’s mortgage broking portfolio. Westpac shut down RAMS to new home loans in 2024, while continuing to retain the ongoing loans. The closure prompted RAMS franchisees to file a class …
Australia’s Pepper Money in talks to buy Westpac’s mortgage broking portfolio Read More »
By Howard Schneider WASHINGTON (Reuters) -A policy divide within the U.S. central bank and a lack of federal government data may put another interest rate cut out of reach this year, Federal Reserve Chair Jerome Powell said on Wednesday, as he acknowledged the threats that officials see to the job market but also the risky …
Fed lowers rates, but Powell suggests move may be the last of 2025 Read More »
By Savyata Mishra (Reuters) -Chipotle Mexican Grill on Wednesday cut annual sales forecast for the third time this year, warning that consumer spending on dining out is likely to remain under pressure through early 2026, sending its shares down 15% after the bell. U.S. households earning less than $100,000 a year, which make up about …
Chipotle cuts sales forecast again as inflation-hit diners pull back, shares slump Read More »
