Reuters US Business

By Gabriel Araujo and Tatiana Bautzer SAO PAULO (Reuters) – Fitch Ratings downgraded Americanas SA’s long-term foreign currency and local currency ratings into junk territory on Tuesday following the announcement of an injunction protecting the Brazilian retailer from creditors. Americanas on Tuesday disclosed that it did not pay interest due on Monday of more than …

Americanas downgraded by Fitch; company leaves interest unpaid in Brazilian bonds Read More »

By Rajesh Kumar Singh CHICAGO (Reuters) -United Airlines Holdings on Tuesday forecast at least a four-fold jump in full-year profit for this year and reported fourth-quarter earnings that topped Wall Street estimates on robust travel demand. The Chicago-based carrier sees an adjusted profit of $10 to $12 per share for 2023, up from $2.52 per …

United Airlines expects to quadruple profit in 2023 Read More »

By Niket Nishant, Noor Zainab Hussain and Saeed Azhar (Reuters) – Goldman Sachs Group Inc on Tuesday reported a bigger-than-expected 69% drop in fourth-quarter profit as it struggled with a slump in dealmaking, a drop in asset and wealth management revenue and booked losses at its consumer business. Wall Street banks are making deep cuts …

Goldman misses profit estimates as dealmaking slumps, consumer business hit Read More »

By Chris Prentice (Reuters) -A U.S. Justice Department official on Tuesday said the agency is rolling out new policies aimed at boosting incentives for companies to disclose any misconduct they uncover to authorities. The revisions, which apply to all corporate criminal matters handled by the Justice Department’s Criminal Division, give prosecutors additional leeway to decline …

U.S. Justice Department revises policies to coax companies to disclose wrongdoing – official Read More »

WELLINGTON (Reuters) – New Zealand house prices fell in December on the prior month as interest rates rose and more difficulty accessing bank finance contributed to continued hesitancy in the market, the Real Estate Institute of New Zealand (REINZ) said on Tuesday. Seasonally adjusted median house values fell 0.6% in December compared with the previous …

New Zealand house prices continue to fall as interest rates hurt Read More »

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve on Tuesday told the six largest U.S. banks to compile data on how their businesses would be impacted by “a range of plausible future outcomes” related to climate change and the transition to a lower-carbon economy in what it deemed a pilot effort …

Fed wants climate risk analysis from 6 largest U.S. banks by July 31 Read More »

(Reuters) – Russia’s central bank said on Tuesday that it sold almost $47 million worth of Chinese yuan on January 13 to buy roubles, as it began to make up for the budget shortfall from falling oil and gas revenues by intervening on forex markets. The finance ministry and central bank said last Wednesday that …

Russia’s central bank sold $47 million worth of Chinese yuan on Jan. 13 Read More »

LONDON (Reuters) -State Street said on Tuesday it was unaware how much leverage was tied up in liability-driven investment (LDI) funds which came under extreme stress last year after British government bond yields rocketed. LDI funds are used by UK pension funds to help ensure they can pay pensions. “We had no idea how much …

State Street CEO says had no idea about leverage in LDI funds Read More »

LONDON (Reuters) – Europe is not providing sufficient incentives for companies such as fertiliser producer Yara to transition to green technologies in stark contrast to the United States, the chief executive of the Norwegian company said.     “From a business perspective it would make much more sense to expand in the U.S. and that is …

Yara CEO says green tech investors looking at U.S., not Europe Read More »