Reuters US Business

By Manya Saini, Nupur Anand and Tatiana Bautzer (Reuters) -U.S. regional bank stocks fell on Thursday after quarterly earnings showed it was getting more costly for lenders to retain deposits. Shares of Discover Financial Services tanked 16% after it disclosed a regulatory review. Discover incorrectly classified some credit card accounts from around mid-2007, while the …

US regional bank stocks fall on mixed results, Discover sinks on regulatory review Read More »

By Bhanvi Satija and Patrick Wingrove (Reuters) -Johnson & Johnson on Thursday expressed optimism for strong growth this year, saying it expected to surpass profit estimates with joint replacement and other surgeries rebounding after COVID-19 and inflation tempering, as its shares rose 6%. J&J also told investors it was banking on strong demand for its …

J&J upbeat on 2023 as devices rebound post-COVID, shares jump Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. Transportation Secretary Pete Buttigieg said the department was investigating why Delta Air Lines passengers remained on board a plane at the Las Vegas airport that sat on the tarmac in extreme heat on Monday, citing reports that the plane sat there for four hours. “I want to know how …

US investigating why Delta passengers remained on plane in extreme heat Read More »

OTTAWA (Reuters) -The Canadian government is relieved that dock workers in the Pacific province of British Columbia have lifted their strike notice, Transport Minister Omar Alghabra said on Thursday. The dock worker’s union said late on Wednesday that it had lifted a strike notice issued for Saturday. It acted after Prime Minister Justin Trudeau directed …

Canada relieved dock workers have lifted their strike notice – minister Read More »

By Supantha Mukherjee STOCKHOLM (Reuters) -Finnish telecom gear group Nokia on Thursday reported a drop in second-quarter profit due to a decline in margin as growth in sales of 5G gear in low-margin markets such as India failed to offset slowing demand in North America. Nokia and rival Ericsson have been hit by slowing orders …

Nokia profit falls as North American slowdown dents margins Read More »

(Reuters) -Pipeline and terminal operator Kinder Morgan on Wednesday posted lower-than-expected second-quarter revenue, hurt by lower commodity prices. Oil and gas prices came under pressure during the April-June quarter as rising interest rates in key economies and a slower-than-expected manufacturing and consumption recovery in China dented fuel demand. Energy output has yet not reached pre-pandemic …

Kinder Morgan second-quarter revenue misses on lower prices Read More »

By David Shepardson WASHINGTON (Reuters) -United Auto Workers (UAW) President Shawn Fain met on Wednesday with President Joe Biden at the White House as the union briefed staff on contract talks with the Detroit Three automakers. Fain, who was on Capitol Hill meeting with lawmakers to discuss the labor talks and the union’s push for …

UAW president meets with Biden as union opens automaker contract talks Read More »

WASHINGTON (Reuters) -Microsoft, which is seeking to wrap up its acquisition of game-maker Activision Blizzard, urged the U.S. Federal Trade Commission to withdraw a case against the deal that the agency had brought before an internal FTC judge, according to a motion posted to the FTC’s website on Wednesday. Microsoft and Activision on Wednesday extended …

Microsoft, Activision urge U.S. to drop case against deal before internal FTC judge Read More »