Reuters US Business

By Lewis Jackson and Rae Wee SYDNEY (Reuters) – Private credit lenders are increasing their footprint in parts of the Australian commercial property market, providing alternatives for borrowers as banks scale back higher-risk lending amid a slowdown brought on by elevated interest rates. The funds available for deals are growing as investors including pension funds, …

Private credit sees opportunity in Australia real estate as banks hesitate Read More »

(Reuters) -Australia’s Westpac Banking Corp on Monday posted a 26% rise in annual profits, helped by growth across key markets, though the lender warned of operational challenges would continue into fiscal 2024. Westpac also said it had started an A$1.5 billion ($975.60 million) share buy-back. The company said it had reaped the benefits of operational …

Australia’s Westpac posts higher annual profit as key markets pump up earnings Read More »

(Reuters) -U.S. food company Tyson Foods has said it was voluntarily recalling approximately 30,000 pounds of frozen, fully cooked dinosaur-shaped chicken “Fun Nuggets” or Dino Chicken Nuggets. A limited number of consumers have reported they found small, pliable metal pieces in the product, and out of an abundance of caution, the company said in a …

Tyson recalls 30,000 pounds of Dino Chicken Nuggets Read More »

By Helen Coster (Reuters) -William Lewis, the former Dow Jones chief executive and publisher of The Wall Street Journal has been named chief executive and publisher of The Washington Post, the Post said on Saturday. The Washington Post said that it is projected to end the year taking a $100 million loss. The publisher added …

Washington Post appoints William Lewis as CEO; to reduce headcount by 10% Read More »

(Reuters) – General Motors will cancel 1,245 layoffs at its factories in Sao Jose dos Campos, Sao Caetano do Sul and Mogi das Cruzes in the state of Sao Paulo, the union representing metalworkers said on Saturday. The announcement was made a day after a Brazilian labor court rejected the U.S. automaker’s request for an …

GM cancels 1,245 layoffs at factories in Brazil, union says Read More »

By Krystal Hu and Greg Bensinger SAN FRANCISCO (Reuters) -Federal Trade Commission Chair Lina Khan found some cozy company over the course of a two-day trip through Silicon Valley this week as she looked to reverse her reputation for being a scourge of Big Tech. In her first trip to the tech hub home to …

FTC Chair Lina Khan looks for allies and leads in Silicon Valley charm offensive Read More »

(Reuters) -The Bank of Canada has urged banks to reconsider offering variable rate mortgages with fixed payments, concerned about the number of borrowers faced with negative amortization of their loans. “I think that product needs a close look and I think it’ll get a close look,” Senior Deputy Governor Carolyn Rogers said in an interview …

Bank of Canada voices concerns about variable rate mortgage products -Bloomberg News Read More »

By Svea Herbst-Bayliss and Jonathan Stempel (Reuters) – Elliott Investment Management, one of the world’s biggest hedge fund firms, on Friday sued the U.S. Securities and Exchange Commission to obtain more information about rule proposals that could affect how activist firms like Elliott do business. In a complaint filed on Thursday in the Washington, D.C. …

Elliott Management sues US SEC for records on swaps rules Read More »