Reuters US Business

By Pete Schroeder WASHINGTON (Reuters) -The completed merger between Capital One and Discover Financial weighed down bank profits in the second quarter, as the sector reported $69.9 billion in profits, down 1% from the quarter prior. The Federal Deposit Insurance Corporation said accounting rules required the merged institution to set aside a relatively large amount …

US bank sector sees profit dip due to Capital One-Discover deal: FDIC Read More »

By Nichola Groom (Reuters) -The Trump administration’s order to halt work on a nearly completed wind farm off the coast of Rhode Island threatens grid reliability and jobs and defies explanation, business and government leaders from New England said on Monday. State leaders in Connecticut and Rhode Island demanded details from the administration about why …

US halt of wind project defies explanation, New England officials say Read More »

By Marianna Parraga HOUSTON (Reuters) -A U.S. court officer said on Monday an affiliate of hedge fund Elliott Investment Management made the best bid for the parent of Venezuela-owned refiner Citgo Petroleum, against a group led by miner Gold Reserve previously recommended as the winner. Improved bids emerged in the final stages of the auction …

Elliott affiliate emerges as frontrunner in Citgo auction, filing says Read More »

By Kevin Buckland and Vidya Ranganathan SINGAPORE (Reuters) – Global investors were shell-shocked on Tuesday after U.S. President Donald Trump struck another blow at the Federal Reserve’s independence, caught between the concerns over politicisation of policy and the payoffs for markets. Trump’s announcement he was firing Fed Governor Lisa Cook surprised markets, even though he …

Trump’s latest Fed jab breeds more dismay than drama Read More »

(Reuters) -RTX’s Pratt & Whitney unit has been awarded a $2.8 billion modified contract for the production of F135 engines, the company said on Tuesday. The contract will fund production of the engines that power Lockheed Martin’s F-35 jets for the U.S. Joint Strike Fighter program and international customers. The unit will produce and deliver …

RTX’s Pratt & Whitney secures $2.8 billion contract for F135 engines Read More »

(Reuters) -General Motors is recalling more than 23,500 Chevrolet Corvette vehicles in the U.S over a fuel leak issue, the National Highway Traffic Safety Administration said on Tuesday. Fuel could spill into the pocket around the gas cap while refueling these vehicles, which could then leak onto an ignition source, such as hot engine or …

General Motors to recall over 23,500 US vehicles over fuel leak issue, NHTSA says Read More »