By David Shepardson WASHINGTON (Reuters) – The U.S. Commerce Department said late on Friday it will limit the size of government subsidizes for semiconductor manufacturing and will not let firms use funding to “pad their bottom line.” On Thursday, the U.S. House of Representatives gave final approval to legislation that provides $52 billion in government …
U.S. says it will limit size of semiconductor chips grants Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks added to their recent rally on Friday after upbeat forecasts from Apple and Amazon.com, and the S&P 500 and Nasdaq posted their biggest monthly percentage gains since 2020. Most S&P 500 sectors ended higher, with energy rising 4.5%, the most of any S&P sector. Chevron Corp …
S&P 500, Nasdaq register biggest monthly gains since 2020 Read More »
(Reuters) – Brazilian pharmacy chain Raia Drogasil SA posted on Friday a 48% increase on its second-quarter adjusted net profit. The company’s profit rose to 343.746 million reais ($66.46 million)in the quarter. Raia Drogasil also reported a second-quarter gross revenue of 7.641 billion reais, a 22.35% increase year-on-year. Its adjusted EBITDA for the quarter was …
Brazil’s Raia Drogasil posts 48% increase in Q2 adjusted net profit Read More »
NEW YORK (Reuters) -Bank of America said on Friday that it is engaged in settlement talks with the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over staff communications on unapproved devices. Earlier in July, the bank said it had earmarked roughly $200 million for fines it expects to come …
Bank of America in settlement talks with U.S. regulators over employee cell phone use Read More »
WILMINGTON, Del (Reuters) – Elon Musk filed under seal his answer and countersuit to Twitter’s lawsuit over his $44 bln deal to acquire the social media company, according to a court filing. (Reporting by Tom Hals in Wilmington, Delaware; editing by Diane Craft)
By Fergal Smith TORONTO (Reuters) – Canada’s resource-heavy main stock index rose on Friday, capping a positive month for the market, as company earnings impressed investors and preliminary data showed the Canadian economy expanding more than expected in the second quarter. The Toronto Stock Exchange’s S&P/TSX composite index ended up 236.21 points, or 1.2%, at …
Toronto market snaps monthly losing streak as earnings impress Read More »
By Jonathan Stempel NEW YORK (Reuters) – Nikola Corp, the electric- and hydrogen-powered truck maker, on Friday asked a U.S. judge to quash a subpoena from founder and former Chief Executive Trevor Milton as he defends against criminal fraud charges, calling it an overbroad “fishing expedition.” In a filing in Manhattan federal court, Nikola said …
Nikola seeks to quash subpoena from founder Milton for his criminal case Read More »
NEW YORK (Reuters) -Speculators’ net long bets on the U.S. dollar fell in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $18.46 billion for the week ended July 26, compared with a net long position of …
Speculators’ net long bets on USD trimmed -CFTC, Reuters Read More »
(Reuters) – Aston Martin expects its finances to improve in the second half of 2022 after burning through tens of millions of pounds in cash earlier this year, it said on Friday, as easing supply chain snarls help boost deliveries of higher margin cars. Its positive free cash flow forecast comes as the luxury carmaker …
Aston Martin says finances to improve as supply chain snags ease Read More »
By Kate Holton LONDON (Reuters) -British Airways-owner IAG on Friday returned to profit for the first time since the outbreak of the COVID-19 pandemic as demand for European flights between April and June boosted its battered finances. IAG posted an operating profit for the second quarter of 293 million euros ($300 million), compared with an …
BA-owner IAG returns to profit after COVID-19 slump Read More »
