(Reuters) – Westpac Banking Corp on Wednesday said it would split its consumer and business banking business into two, with each having its own CEO, effective Aug. 1. The bank said Chris de Bruin, currently head of the combined unit, will leave and named Jason Yetton as CEO of the consumer business and Anthony Miller …
Australia’s Westpac splits consumer and business banking unit into two Read More »
(Reuters) – Self-driving technology firm Aurora Innovation said on Tuesday it plans to sell $600 million worth of class A common stock in a private placement, sending the company’s shares down more than 10% in after-market trading. The company also commenced an underwritten public offering of up to $200 million of its Class A common …
Aurora Innovation plans $600 million private placement, shares fall Read More »
By Lisa Baertlein LOS ANGELES (Reuters) – Warehouse rents will continue to rise even as other supply-chain costs tumble from pandemic highs, the CEO of the world’s largest warehouse landlord told Reuters on Tuesday. Lease prices have proven far more resilient than air, ship, truck and train transportation rates which have dropped sharply due to …
US warehouse rents will defy logistics transportation rate drop -Prologis CEO Read More »
By Rajesh Kumar Singh CHICAGO (Reuters) – American Airlines’ pilot union has warned that the ratification of the company’s new contract deal is in “jeopardy” as United Airlines has raised the benchmark with its own deal, according a union memo seen by Reuters. American pilots are due to start voting next week on a new …
By Andrea Shalal WASHINGTON (Reuters) – President Joe Biden has created a new role on the National Economic Council (NEC) to tackle anti-competitive business practices, naming NEC member Hannah Garden-Monheit as Director of Competition Council Policy, the White House said on Tuesday as it prepares to challenge new corporate sectors. Garden-Monheit, a former U.S. trial …
Biden creates new anti-competition role on National Economic Council Read More »
(Reuters) – Big U.S. banks on Tuesday said higher interest rates had helped boost profits in the second quarter, causing shares to spike, but a pullback in consumer spending, slower loan growth and increased deposit costs may cloud the outlook for the sector. Signs of a revival in investment banking, which has been in the …
US bank shares jump on interest income and deals optimism, but outlook mixed Read More »
By Tatiana Bautzer and Mehnaz Yasmin (Reuters) – Morgan Stanley’s profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment. Morgan Stanley shares rose more than 6%, shrugging off the 14% drop in profits. Excluding one-off items, Morgan Stanley …
Morgan Stanley profit beats estimates on wealth, shares rise Read More »
By Saeed Azhar and Manya Saini NEW YORK (Reuters) -Bank of America’s second-quarter profit beat Wall Street estimates as it earned more from customers’ loan payments while investment banking and trading fared better than expected. The second-largest U.S. lender projected its net interest income (NII) would increase 8% this year after it rose 14% in …
BofA profit surges on interest income, surprise investment banking gain Read More »
By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines first officer Phil Anderson has turned down opportunities to be promoted to captain as he does not want the unpredictable schedule that comes with the bigger paycheck. Anderson is one of many who have passed on that promotion at United, and analysts and union officials said …
United Airlines grapples with pilots avoiding the captain’s chair Read More »
By Daniel Wiessner (Reuters) – Twitter Inc on Tuesday was hit with the second lawsuit this month to claim that it owes at least $500 million in severance pay to ex-workers, the latest in a series of cases arising from Elon Musk’s acquisition of the social media company. The proposed class action filed in Delaware …
Twitter again sued over severance pay, bias during layoffs Read More »
