By Stephen Culp NEW YORK (Reuters) – The S&P 500 pared early losses to close modestly lower on Thursday after investors digested disappointing quarterly results from two large U.S. banks and hotter-than-expected inflation data. Initially, all three major U.S. stock indexes sold off sharply in the wake of second-quarter earnings from JPMorgan Chase & Co …
S&P 500, Dow close lower after bank earnings, inflation data Read More »
WASHINGTON (Reuters) -The United States and Mexico announced a resolution to a dispute at a Panasonic auto parts plant in Mexico on Thursday, with workers receiving an above-inflation pay rise after the firm rejected an agreement with a union that lacked lawful bargaining authority. The agreement involved the Panasonic Automotive Systems facility in the northern …
U.S., Mexico resolve Panasonic auto parts plant labor dispute Read More »
By Pete Schroeder and Elizabeth Dilts Marshall WASHINGTON (Reuters) -Bank of America has been fined $225 million by a pair of U.S. banking regulators over what they called a “botched” handling of jobless benefits during the pandemic. The Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) said the …
TOKYO (Reuters) – Japan’s Fast Retailing, the owner of clothing brand Uniqlo, posted record quarterly profit on Thursday, as the weaker yen and strong sales in the United States made up for a slump in a pandemic-hit Chinese market. Operating profit for the three-month period to the end of May jumped 37% from a year …
Uniqlo owner posts record quarterly profit, lifts annual forecast Read More »
By Maria Ponnezhath and Tom Wilson (Reuters) -U.S. crypto lender Celsius Network said on Wednesday it had filed for bankruptcy in New York, becoming the latest victim in the cryptocurrency sector of a dramatic plunge in token prices. New Jersey-based Celsius froze withdrawals last month, citing “extreme” market conditions, cutting off access to savings for …
Major crypto lender Celsius files for bankruptcy Read More »
By Johan Ahlander and Stine Jacobsen STOCKHOLM (Reuters) -SAS said on Thursday a pilot strike now in its 11th day threatened the airline’s ability to access bridge financing without which it may be forced to radically downsize or could collapse. SAS and unions were locked in more talks on Thursday to end a strike among …
SAS says pilots strike a risk to its survival as talks resume Read More »
By Silke Koltrowitz ZURICH (Reuters) -Swatch Group stuck to its forecast for double-digit sales growth this year after pandemic lockdowns in China had less impact than feared on the world’s biggest watchmaker’s first-half results on Thursday. The maker of Omega watches, which generated more than 40% of its sales in Greater China in 2021, said …
Swatch Group upbeat as China comes out of lockdown Read More »
By Supantha Mukherjee STOCKHOLM (Reuters) -Ericsson, the Swedish telecoms equipment firm facing bribery investigations, reported a rise in second-quarter core earnings on Thursday that missed expectations as margins were hit by higher component and logistics costs. Shares of the company dropped 11% in morning trading to their lowest since March 2020. The stock has lost …
Ericsson’s core profit misses as rising costs hit margins Read More »
ZURICH (Reuters) – Swiss bank Credit Suisse sees its future as an independent entity, Chairman Axel Lehmann told the Financial Times, amid speculation that the beleaguered group could be acquired or broken up. “We have a 166-year-old history, and I’m a strong believer that as an independent company alongside other large banks in Europe and …
Credit Suisse seeks to remain independent, chairman says – FT Read More »
By Emma-Victoria Farr and Matthias Inverardi LONDON/BERLIN (Reuters) -Deutsche Telekom has agreed to sell 51% of its towers business to a consortium of Canada’s Brookfield and U.S. private equity firm DigitalBridge after they placed a surprise 17.5 billion euros ($17.5 billion) bid in the auction’s final stages. Brookfield had originally made a binding bid with …
Deutsche Telekom to sell towers stake for $17.5 billion Read More »
