Reuters US Business

By Foo Yun Chee BRUSSELS (Reuters) -Universal Music Group unit Virgin Music Group’s $775 million acquisition of Downtown Music may hinder competition and remove an important competitor, EU antitrust regulators warned on Tuesday, a move which may require concessions from the world’s largest music company. Virgin announced the deal in December last year which subsequently …

Universal’s $775 million Downtown deal may hinder competition, EU regulators warn Read More »

By Shashwat Chauhan (Reuters) -A slump in the dollar has come to the rescue of some major multinational U.S. companies this earnings season, easing the sting from President Donald Trump’s tariffs that have driven up costs and upended financial planning. A weaker dollar enhances the value of foreign earnings of U.S. companies, while also making …

Dollar’s dive offsets tariff sting for some US bellwethers Read More »

(Reuters) -Canadian provinces’ boycott of U.S. spirits amid a trade dispute with the United States has caused a sharp drop in sales of American imports, as well as other imported and domestic spirits across the nation, a Canadian liquor trade group said on Tuesday. Sales of U.S. spirits in Canada dropped 66.3% between March 5, …

Canadian boycott of US spirits hurts broader alcohol sales, trade group says Read More »

By Arathy Somasekhar and Tanay Dhumal (Reuters) -Oilfield services company Halliburton forecast a sharp decline in full-year revenue on Tuesday after posting a 33% fall in profit for the second quarter due to softer-than-expected demand. Houston-based Halliburton joined larger rival SLB in warning of lower activity by oil and gas producers as weak and volatile oil …

Halliburton forecasts steep full-year revenue decline on softer demand Read More »

(Reuters) -D.R. Horton reported third-quarter profit and revenue above estimates on Tuesday as buyer incentives sustained home sales amid high interest rates and rising costs, sending shares of the homebuilder up more than 12% in morning trading. The sector is grappling with weakening consumer sentiment, prompting builders to offer incentives such as mortgage rate buydowns …

D.R. Horton third-quarter results beat estimates on incentives push Read More »

(Reuters) -OpenAI and Oracle will develop another 4.5 gigawatts of data center capacity, expanding a tie-up that has promised hundreds of billions of dollars in infrastructure investment to keep the U.S. ahead in the global artificial intelligence race. The ChatGPT maker did not disclose the locations or funding details for the new facilities in Tuesday’s …

OpenAI, Oracle deepen AI data center push with 4.5 gigawatt Stargate expansion Read More »

By Utkarsh Shetti and Mike Stone (Reuters) -RTX cut its 2025 profit forecast on Tuesday as the aerospace and defense giant took a hit from U.S. President Donald Trump’s trade war despite strong demand for its engines and aftermarket services. Shares of the company were down 2.7% by 10:25 a.m. EDT (1425 GMT). Trump’s imposition …

RTX cuts 2025 profit forecast as tariff costs weigh Read More »

(Reuters) -BlackRock has asked its staff visiting China for business trips to use temporary loaner phones and avoid using company laptops, Bloomberg News reported on Tuesday, citing an internal memo. The world’s largest asset manager told its staff that using company-issued employee devices, including iPhones and iPads, is not permitted, the report said. BlackRock also …

BlackRock imposes restriction on use of company devices for China travel, Bloomberg News reports Read More »

By Utkarsh Shetti and Mike Stone (Reuters) -Northrop Grumman raised its annual profit forecast and topped Wall Street estimates for second-quarter revenue on Tuesday, aided by sustained demand for its military aircraft and defense systems as geopolitical tensions simmer. Shares of the company were up about 9% in early trade. A protracted Russia-Ukraine war and …

Northrop Grumman lifts 2025 profit forecast on strong demand for weapons Read More »