Reuters US Business

By Sudarshan Varadhan and Lewis Jackson SINGAPORE/SYDNEY (Reuters) – Woodside Energy Group and U.S. major Chevron are locked in a dispute over pay and job security with about 700 workers at four facilities in Australia that produce more than a tenth of the world’s liquefied natural gas (LNG). Here is what is expected in coming …

Explainer-Worker disputes at Australian LNG producers roil global gas market Read More »

SHANGHAI/SINGAPORE (Reuters) – Yield differentials between China and the U.S. widened to their highest in 16 years on Wednesday, as investors speculated that China’s central bank would ease monetary policy further after a surprise rate cut, even if it puts the yuan under pressure. The People’s Bank of China (PBOC) unexpectedly cut key policy rates …

Yield gap between China and US widens to highest since 2007 after surprise rate cut Read More »

By Anirban Sen NEW YORK (Reuters) -Intel and Israeli contract chipmaker Tower Semiconductor’s proposed $5.4 billion deal has been mutually terminated as they were unable to get timely regulatory approvals, the companies said on Wednesday. Shares of the Israeli company fell about 9% in the United States as well as Tel Aviv. Intel, which had …

Intel, Tower terminate $5.4 billion deal over regulatory hurdles Read More »

(Reuters) -Private equity group TPG Capital has approached accounting giant Ernst & Young (EY) about buying a stake in its consulting arm, Financial Times reported on Tuesday, citing a letter it had reviewed. TPG outlined its plan for a debt-and-equity deal to separate the consulting arm from EY’s audit business in a letter sent to …

TPG approaches EY about buying stake in consulting arm – FT Read More »

(Reuters) – New Zealand’s Fletcher Building on Wednesday reported a 46% drop in its full-year net profit after tax, hurt by higher cost provisions for its international convention centre in Auckland. The country’s largest construction materials maker set aside additional provisioning of NZ$255 million ($151.73 million) for its New Zealand International Convention Centre and Hobson …

NZ’s Fletcher Building’s annual profit slumps 46% on higher convention centre costs Read More »

(Reuters) – Brazil’s Nubank on Tuesday reported record revenue for the second quarter as the Warren Buffett-backed digital banking firm logged a surge in new customers. The Brazilian lender has been so far insulated from the downturn in the global banking industry as consumers in the key domestic Latin American market continued to gravitate towards …

Buffett-backed Nubank posts record revenue on strong user growth Read More »

By Pratik Jain and Dietrich Knauth (Reuters) -Mallinckrodt on Tuesday said it was preparing to seek bankruptcy protection for the second time in three years after struggling to make a required $200 million settlement payment to opioid victims. The drugmaker, one of the largest makers of opioids, said it is negotiating a restructuring support agreement …

Drugmaker Mallinckrodt moves toward second bankruptcy filing Read More »

(Reuters) -U.S. oil and gas producer Occidental Petroleum said on Tuesday it would acquire carbon-capture technology provider Carbon Engineering for a total cash consideration of approximately $1.1 billion. The direct air capture (DAC) technology uses chemical reactions to remove carbon dioxide from the air, which can then be stored underground or used in products such …

Occidental Petroleum to buy Carbon Engineering for $1.1 billion Read More »

By Siddharth Cavale NEW YORK (Reuters) – Walmart is set to raise its full-year earnings forecast on Thursday when it reports quarterly results, as U.S. shoppers continue to buy essentials even as borrowing costs rise, lending standards tighten and the employment picture weakens. The world’s largest retailer, as measured by sales, will offer a glimpse …

Walmart set to raise its full-year forecast as shoppers stick to essentials Read More »