Reuters US Business

By Byron Kaye and Nikhil Nainan (Reuters) -Commonwealth Bank of Australia posted a forecast-beating surge in first-half profit and said it would buy back $1.4 billion of stock as a home loan boom offset thinner margins. Its shares soared 6%. The country’s biggest lender outpaced rivals in attracting home buyers, benefiting from its sheer volume …

CBA in first-half profit surge on Australian home boom, unveils share buyback Read More »

By Isla Binnie and David French (Reuters) – Can oil bankers learn renewable tricks? They may need to in this climate, judging by the experience of Douglas MacKenzie, a Citigroup banker who has spent decades advising global energy giants on fossil fuel deals since joining Goldman Sachs as an associate in 1985. “I cover Big …

Oil and gas bankers confront their own energy transition Read More »

By Miguel Lo Bianco and Horacio Soria BUENOS AIRES (Reuters) – Thousands of Argentines marched through the streets of Buenos Aires on Tuesday to protest against a likely deal with the International Monetary Fund (IMF) to revamp more than $40 billion of debt the country cannot pay back. The protesters paraded through the capital with …

‘No to the IMF’: thousands protest in Argentina against debt deal Read More »

By Joseph White DETROIT (Reuters) – General Motors Co plans to increase production of electric trucks and Cadillac sport utility vehicles this year by more than six times the previously planned output, according to information shared with suppliers. GM Chief Executive Mary Barra told investors last week the automaker intended to accelerate production of electric …

GM plans six-fold increase in 2022 electric truck, SUV production -sources Read More »

By Elizabeth Culliford (Reuters) – Facebook parent Meta Platforms said on Tuesday it had filed a joint lawsuit with digital banking company Chime against two Nigeria-based individuals who engaged in phishing attacks to deceive people and gain access to their online financial accounts. The lawsuit, which is the first joint complaint between Meta and a …

Meta, Chime file lawsuit against alleged phishing scam on Facebook, Instagram Read More »

WASHINGTON (Reuters) -High U.S. inflation may get even higher before subsiding in the face of Federal Reserve action and as supply chain strains recede, San Francisco Federal Reserve Bank President Mary Daly said on Tuesday. “We could have it be worse before it gets better but it is definitely going to get better,” Daly told …

Fed’s Daly says U.S. inflation could get worse before it gets better Read More »

By Tina Bellon and Nivedita Balu (Reuters) -Lyft Inc’s first full-year adjusted profit and a spike in pricey airport trips were overshadowed by a drop in ridership due to Omicron, which management on Tuesday warned would persist into the first quarter and drag down profit. The projected hit to first-quarter revenue and profit sparked a …

Lyft’s weak rider numbers, Omicron hit outweigh first full-year profit Read More »

(Reuters) -Boeing Co said on Tuesday it delivered 32 aircraft in January as its sidelined 787 Dreamliner program continued to weigh on the planemaker’s ability to capitalize on a recovery in air travel. The company handed over 27 737 MAX jets in January and three widebody aircraft, including a 777 freighter, Boeing said in its …

Boeing deliveries remain low as 787 problems weigh Read More »

By Noel Randewich and Bansari Mayur Kamdar (Reuters) – Wall Street ended sharply higher on Tuesday, lifted by Apple and Microsoft, while a jump in Treasury yields elevated bank stocks ahead of a key inflation reading this week. The benchmark S&P 500 and the tech-heavy Nasdaq reversed early losses and gained in the latter part …

Wall Street ends higher; bank stocks rise with Treasury yields Read More »