Reuters US Business

(Repeats with no changes to text) By Chibuike Oguh NEW YORK (Reuters) -Apollo Global Management Inc said on Thursday its fourth-quarter adjusted net income rose 77% owing to strong earnings from its retirement services business, although that was partly offset by a steep decline in its private equity portfolio. The New York-based firm said adjusted …

Apollo Global’s Q4 earnings rise 77% but miss estimates Read More »

By David French (Reuters) – Mortgage data vendor Black Knight Inc has decided to put its Empower loan origination software business up for sale in an effort to overcome U.S. antitrust concerns over its $13.1 billion proposed acquisition by Intercontinental Exchange Inc, people familiar with the matter said. ICE’s takeover of Black Knight would follow …

Exclusive-Black Knight to shed unit in bid to save $13 billion sale to ICE -sources Read More »

By Joseph White DETROIT (Reuters) – Tesla Inc and established luxury automakers are frustrating consumers with advanced driving assistance technology and complex infotainment systems, according to a new study by the consultancy J.D. Power.The gap in reliability scores between luxury brands and those for mass market brands such as Kia were the widest in the …

High-tech dashboards, driving assistants vex luxury vehicle owners -study Read More »

(This Feb. 8 story has been corrected to fix Michael Demissie’s job title in paragraph 1) By Samuel Indyk LONDON (Reuters) – Bank of New York Mellon’s head of advanced solutions Michael Demissie said on Wednesday that digital assets were “here to stay”, citing a 2022 study of the custodian bank’s clients.      “What we …

BNY Mellon says investors ‘absolutely interested’ in digital assets Read More »

BRUSSELS (Reuters) – ArcelorMittal, the world’s second-largest steelmaker, on Thursday said it expects its steel shipments to increase by around 5% this year, as it reported fourth-quarter earnings that were in line with expectations. The Luxembourg-based company said its fourth-quarter core profit (EBITDA), the figure most watched by the market, was $1.26 billion, down from …

ArcelorMittal expects to increase steel shipments by 5% in 2023 Read More »

JAKARTA (Reuters) – Two lessors have filed applications in a Jakarta court in a bid to cancel flag carrier Garuda Indonesia’s restructuring deal, a court website showed. Garuda reached an agreement with its creditors, which include lessors and Islamic bond investors, last June to restructure more than $9 billion of debt. The lessors, which filed …

Two lessors file applications to cancel Garuda Indonesia restructuring deal – court Read More »

BERLIN/FRANKFURT (Reuters) – Bayer replaced its CEO early, recruiting the former head of Roche’s pharmaceuticals business, as investor criticism over the company’s lacklustre share price grew.  Bill Anderson’s appointment for the top job, which takes effect from June 1, comes after shareholder pressure mounted over recent months to soon remove CEO Werner Baumann, who engineered …

Bayer picks outsider Anderson as CEO after investor pressure Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended down on Wednesday, paring most of the previous session’s strong gains, with tech-focused shares leading the way lower. Alphabet Inc was the biggest drag on the S&P 500 and Nasdaq. Its shares sank 7.7% after its new AI chatbot Bard delivered an incorrect answer in …

Wall St falls after recent strong gains, Alphabet shares sink Read More »

By Bhanvi Satija and Raghav Mahobe (Reuters) – CVS Health Corp will buy Oak Street Health Inc for about $9.5 billion in cash, joining rivals in adding primary care to its portfolio as pressure mounts on its health insurance business. Oak Street is losing money and not expected to contribute to CVS earnings for years, …

CVS digs into primary care with $9.5 billion Oak Street Health deal Read More »