Reuters US Business Archives - Page 2079 of 2312

Wall St posts third straight quarterly loss as inflation weighs, recession looms

1 Oct 2022 1 Oct 2022

By Stephen Culp NEW YORK (Reuters) – The S&P 500 closed the books on its steepest September decline in two decades on Friday, skidding across the finish line of a tumultuous quarter fraught with historically hot inflation, rising interest rates and recession fears. All three major indexes veered to a sharply lower end, having quashed …

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U.S. investors brace for more wild market gyrations after dizzying Q3

1 Oct 2022 1 Oct 2022

By Saqib Iqbal Ahmed and Lewis Krauskopf NEW YORK (Reuters) – In a year of wild market swings, the third quarter of 2022 was a time when events took a truly extraordinary turn. As the Federal Reserve ratcheted up its monetary policy tightening to tame the worst inflation in decades, U.S. Treasury yields shot to …

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Intel’s self-driving unit Mobileye files for U.S. IPO

30 Sep 2022 30 Sep 2022

(Reuters) -Mobileye, Intel Corp’s self-driving unit, on Friday filed for an initial public offering in the United States, revealing a 21% jump in revenue for the first half of the year. The unit, which had confidentially filed for the offering earlier this year, revealed it has applied to list its Class A shares on Nasdaq …

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Disney names Carolyn Everson to board in deal with activist investor Third Point

30 Sep 2022 30 Sep 2022

(Reuters) -Walt Disney Co will name tech and media veteran Carolyn Everson to the board, the company said on Friday, calling a truce with activist investor Third Point. The activist shareholder also agreed to not raise its stake in the entertainment and media conglomerate to over 2% and to vote in favor of the slate …

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U.S. senator backs extending Boeing 737 MAX approval deadline

30 Sep 2022 30 Sep 2022

By David Shepardson WASHINGTON (Reuters) – The top Republican on the Senate Commerce Committee has proposed extending the deadline for Boeing to win approval for two new variants of the 737 MAX until September 2024. Boeing faces a December deadline to win approval from the Federal Aviation Administration (FAA) of the 737 MAX 7 and …

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Stanley Black & Decker cuts about 1,000 finance jobs – WSJ

30 Sep 2022 30 Sep 2022

(Reuters) – Power tools maker Stanley Black & Decker has cut 1,000 finance roles this week in an effort to trim costs, the Wall Street Journal reported on Friday citing people familiar with the matter. The move comes at a time when several technology companies, crypto exchanges and financial firms are cutting jobs and freezing …

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Explainer-How a massive options trade by a JP Morgan fund can move markets

30 Sep 2022 30 Sep 2022

By Saqib Iqbal Ahmed NEW YORK (Reuters) – A nearly $16 billion JP Morgan fund is expected to reset its options positions on Friday, potentially adding to equity volatility at the end of a gloomy quarter for stocks. Analysts have in the past pointed to the JPMorgan Hedged Equity Fund’s quarterly reset roiling markets, and …

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Taiwan says U.S.-led ‘Chip 4’ group discussed supply chain resilience

30 Sep 2022 30 Sep 2022

By Sarah Wu TAIPEI (Reuters) -The United States has convened the first meeting of a working group of East Asian countries to discuss how to strengthen the semiconductor supply chain, a Taiwanese official said on Friday, after a two-year global chip crunch. The semiconductor shortage, which forced some carmakers to halt production, thrust chip powerhouse …

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Toyota Motor lowers October output target by 6.3%

30 Sep 2022 30 Sep 2022

TOKYO (Reuters) -Toyota Motor Corp on Friday lowered its October production target by 6.3% to about 750,000 vehicles because of a shortage of semiconductors. The announcement comes about a week after the world’s largest automaker by sales released its production target of about 800,000 vehicles globally for the next month, deepening worries that the chip …

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Electric van maker Arrival misses quarterly production goal

30 Sep 2022 30 Sep 2022

By Nick Carey LONDON (Reuters) – British electric van and bus maker Arrival said on Friday it had missed its third-quarter target to start van production because of supply chain problems, but was on target to meet its goals for the end of 2022. “The supply chain is broken and we’re a new company,” chief …

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