Reuters US Business

By David Lawder and Davide Barbuscia WASHINGTON (Reuters) – When Fitch Ratings dropped its bombshell downgrade of the U.S. credit rating on Tuesday, Biden administration officials cried foul over the “bizarre” timing and argued that it unfairly punishes them for political chaos under President Donald Trump. Harvard’s Larry Summers and JPMorgan’s Jamie Dimon were among …

Fitch US downgrade followed protocols, despite timing questions Read More »

SAO PAULO (Reuters) – Amazon.com will launch a credit card offering in Brazil, in a partnership with Brazilian lender Banco Bradesco SA, the bank’s chief executive said on Friday, as the ecommerce giant pushes to expand its fintech offering. The launch is set for next Tuesday, according to CEO Octavio de Lazari Junior, adding that …

Amazon set to launch credit card in Brazil with Bradesco Read More »

(Adds attribution in headline) (Reuters) – Party City Holdco is considering splitting up its balloon manufacturing and retailing businesses as the latter charts a course out of bankruptcy, Bloomberg News reported on Friday, citing people familiar with the situation. The company has held confidential talks with debt holders about spinning off its Anagram unit, the …

Party City, Creditors in talks to spin off balloon business – Bloomberg News Read More »

By Muyu Xu, Alex Lawler and Arathy Somasekhar SINGAPORE (Reuters) – Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. The introduction in June of U.S. crude grade WTI Midland to …

Analysis-Surging U.S. crude oil exports disrupt European, Asian prices Read More »

TOKYO (Reuters) – Japan’s SoftBank Corp, the domestic telecoms arm of SoftBank Group, posted a 2.1% increase in first quarter operating profit on Friday. Operating profit was 246.3 billion yen ($1.73 billion) in the April to June period, marginally higher than the 241.2 billion yen in the same period a year earlier. SoftBank maintained its …

Japan’s SoftBank Corp posts 2.1% increase in Q1 profit Read More »

By Anirban Sen NEW YORK (Reuters) – KKR & Co Inc is in advanced talks to acquire book publisher Simon & Schuster from Paramount Global for $1.65 billion, according to a person familiar with the matter. KKR was competing against News Corp-owned HarperCollins Publishers for Simon & Schuster, the source said. Reuters reported in February …

KKR in advanced talks to buy Simon & Schuster for $1.65 billion-source Read More »

By Deena Beasley (Reuters) -Amgen, which is facing U.S. Federal Trade Commission (FTC) delays to its planned acquisition of Horizon Therapeutics, on Thursday reported higher quarterly profit on strong sales of treatments for cholesterol, osteoporosis and other drugs. The biotech company, which slightly raised its outlook for full-year revenue and profit, said it currently expects …

Amgen quarterly revenue rises 6%, profit beats Street estimates Read More »

(Reuters) -Agricultural chemical and seed company Corteva beat Wall Street estimates for second-quarter profit on Thursday, benefiting from strong demand and higher prices for seeds. Crop prices remain strong historically due to supply concerns related to the war in Ukraine and droughts in several places across the world. Farmers have looked to harvest more to …

Corteva profit beats expectations on higher seed prices Read More »

By Michael Erman (Reuters) -Gilead Sciences on Thursday reported lower second-quarter profit as costs from a legal settlement and sharply lower sales of its COVID-19 treatment offset another strong performance by HIV drugs. The drugmaker raised its full-year revenue forecast, even as it trimmed its estimate for COVID antiviral Veklury due to lower pandemic-related hospitalizations. …

Gilead quarterly profit falls on COVID sales drop, legal settlement charge Read More »