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NEW YORK (Reuters) -A U.S. appeals court on Tuesday put on temporary hold a judge’s order that Argentina turn over its 51% stake in oil and gas company YPF to partially satisfy a $16.1 billion judgment. The 2nd U.S. Circuit Court of Appeals in Manhattan gave Petersen Energia Inversora and Eton Park Capital Management, which …

US appeals court puts Argentina’s 51% YPF stake turnover on temporary hold Read More »

By Karen Brettell NEW YORK (Reuters) -The dollar reached a 15-week high against the Japanese yen on Tuesday as U.S. consumer prices increased by the most in five months in June, while traders also pared expectations on how many times the Federal Reserve is likely to cut interest rates this year. U.S. President Donald Trump’s …

Dollar hits 15-week high against yen as consumer prices gain Read More »

By Anirban Sen and Ateev Bhandari NEW YORK (Reuters) -BlackRock’s assets under management hit a new high in the second quarter as global markets rallied, but its shares tumbled as much as 7% after a large Asian institutional client pulled money from an index strategy. During the quarter ended June 30, BlackRock’s long-term net inflows …

BlackRock shares slump even as assets hit record $12.5 trillion on market rally Read More »

WASHINGTON (Reuters) -American companies rolled out a series of big-ticket AI and energy investment pledges on Tuesday, part of a push by President Donald Trump to maintain the country’s edge in the booming technology sector. Here are some of the biggest announcements timed around the Energy and Innovation Summit at Carnegie Mellon University, which is …

Factbox-Big US investments announced at Trump’s tech and AI summit Read More »

By Nora Eckert and David Shepardson DETROIT (Reuters) -General Motors said on Tuesday it will move production of the Cadillac Escalade to a Michigan assembly plant, while adding new capacity for gas-powered Chevrolet Silverado and GMC Sierra light-duty pickups at the same facility.  The production shifts are part of GM’s $4 billion investment plan announced …

GM outlines $4 billion plan to expand production of gas trucks and SUVs Read More »

By Samantha Marshak (Reuters) -Tapestry will increase its stake in eco-leather producer Gen Phoenix to 9.9% as part of a $15 million financing round, as the Coach and Kate Spade parent looks to make more sustainable leather goods, the companies told Reuters. Tapestry’s investment nearly quadruples its stake in the company; it said the partnership …

Tapestry boosts stake in recycled leather brand Gen Phoenix to nearly 10% Read More »

By Ana Mano RIO DE JANEIRO/SAO PAULO (Reuters) -Brazilian meatpackers are weighing whether to make new shipments of beef products to the United States after President Donald Trump announced a 50% tariff on Brazil last week, Roberto Perosa, president of Brazilian beef lobby ABIEC, said. The United States is Brazil’s second most important beef products …

Brazilian meatpackers rethink beef exports to US after tariffs, industry lobby says Read More »

By Tatiana Bautzer and Manya Saini NEW YORK (Reuters) -Citigroup’s shares briefly touched their highest since the 2008 financial crisis after the bank beat Wall Street estimates for second-quarter profit and said it plans to buy back at least $4 billion in stock. The stock rose as high as $90.69 on Tuesday after the third …

Citigroup shares hit highest since 2008 after profit beat, buyback plan Read More »