Reuters US Business

By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended with modest gains on Tuesday as investors parsed conflicting remarks from Federal Reserve officials, with upbeat consumer data providing some lift. All three major U.S. stock indexes lost momentum as the session progressed, but ended the range-bound session in the green. “Even marathon runners have …

Wall St ends slightly higher after mixed Fed statements Read More »

(Reuters) -Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway, died on Tuesday morning at a California hospital. Munger was 99, and would have turned 100 on Jan. 1. He died peacefully, Berkshire said. No cause was given. “Berkshire Hathaway could not have been built to its present status without …

Berkshire Hathaway vice chairman Charlie Munger dies at 99 Read More »

(Reuters) -Defense manufacturer Textron said on Tuesday it would cut 725 jobs as part of its restructuring plan in an attempt to reduce operating expenses. Textron is set to downsize jobs in its Industrial, Bell and Textron Systems segments. The company said the restructuring plan would result in impairment charges within its powersports product line …

Textron to cut 725 jobs as part of restructuring plan Read More »

(Reuters) – UnitedHealth Group on Tuesday forecast 2024 profit below Wall Street expectations, indicating that medical costs are likely to remain elevated for the health insurance giant. The largest U.S. health insurer’s forecast comes ahead of its investor day on Wednesday, where it is expected to provide its outlook on medical costs. Focus will also …

UnitedHealth forecasts 2024 profit below Wall Street estimates Read More »

By Jonathan Stempel NEW YORK (Reuters) – Charles Munger, who died on Tuesday, went from working for Warren Buffett’s grandfather for 20 cents an hour during the Great Depression to spending more than four decades as Buffett’s second-in-command and foil atop Berkshire Hathaway Inc. Munger’s family had advised that he died peacefully on Tuesday morning …

Charlie Munger, the ‘Oracle of Pasadena’ who was Buffett’s second-in-command Read More »

By David Shepardson WASHINGTON (Reuters) -Republican Senator John Thune said on Tuesday a deal is in the works to resolve a months-long standoff over pilot training requirements that has stalled a major aviation reform bill. The U.S. House of Representatives in July voted to pass legislation to raise the mandatory commercial pilot retirement age to …

US Senator says deal in works to resolve FAA pilot training dispute Read More »

By Ann Saphir (Reuters) – The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation. The topsy-turvy economic environment of the coronavirus pandemic …

Fed hawks, Fed doves: What U.S. central bankers are saying Read More »

By Pablo Mayo Cerqueiro LONDON (Reuters) – The EU is falling behind Britain in tapping into savers’ money to boost the stock market, despite reforms in continental Europe being a step in the right direction, an official with Germany’s bourse told Reuters. “In terms of policy change, in the UK there’s a realisation that we …

EU trailing UK capital market reforms, Frankfurt bourse official says Read More »

By Michael S. Derby NEW YORK (Reuters) – The Federal Reserve will need nearly four more years to cover a historic operating loss and start sending profits again to the U.S. Treasury, according to new research from the Federal Reserve Bank of St. Louis. The losses are a product of the Fed’s rate rise cycle …

Fed may need four years to recoup income loss, St. Louis Fed study says Read More »