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By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Wednesday lifted its full-year profit outlook after posting the highest ever quarterly earnings on booming demand for international travel. Its shares rose 2.4% in extended trading. Ticket sales at U.S. carriers are soaring despite rising living costs as consumers cut spending on goods in favor …

United Airlines posts record high quarterly earnings, lifts full-year outlook Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – The Dow Jones Industrial Average and S&P 500 index rose modestly on Wednesday, with the blue-chip Dow registering its eighth straight day of gains as investors gauged the latest round of corporate earnings, but a decline in Microsoft held the Nasdaq near the unchanged mark. Bank stocks extended …

Stocks advance as earnings pick up; Dow notches 8th day of gains Read More »

By Lisa Baertlein and Priyamvada C (Reuters) – United Parcel Service on Wednesday said it would return to the bargaining table with a better offer for roughly 340,000 Teamsters-represented U.S. workers, in a bid to avert a potentially economically damaging strike on Aug. 1. “We are prepared to increase our industry-leading pay and benefits, but …

UPS to sweeten offer as Teamsters-represented workers prepare to strike Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. lawmakers will look to jump start long-stalled legislation on the safe and regulated adoption of self-driving cars at a congressional hearing on July 26. The panel will consider separate draft legislation from Representative Bob Latta, a Republican, and Representative Debbie Dingell, a Democrat. Legislation in Congress has been stalled …

US House panel looks to revive legislation on self-driving cars Read More »

By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) -Goldman Sachs’ board supports CEO David Solomon’s focus on its core Wall Street businesses and asset management, according to two sources close to Solomon. The executive is tasked with reviving the bank’s stock, even as scepticism from some investors and employees grows. The 12-member board of …

Goldman Sachs CEO’s growth strategy gets traction with board-sources Read More »

By Xie Yu HONG KONG (Reuters) – Consolidation within the global wealth management sector will speed up while managers continue to face regulatory challenges, a report based on a global survey by Citigroup showed. As many as 69% of the almost 170 participants across wealth management and private banking industries agreed that industry consolidation will …

Consolidation in wealth management industry to accelerate, Citi survey finds Read More »

By Marie Mannes STOCKHOLM (Reuters) -Swedish truckmaker AB Volvo on Wednesday logged a better-than-expected 57% jump in second-quarter adjusted operating profit, helped by price hikes. “We have been successful in improving margins while managing cost inflation and increased disturbances in the supply chain,” Chief Executive Martin Lundstedt said in a statement. Operating profit before restructuring …

Truck maker Volvo’s quarterly profit surges, beats estimates Read More »