Reuters US Business

WASHINGTON (Reuters) -New orders for U.S.-manufactured goods surged in May on strong demand for aircraft and business spending on equipment appeared to be strong halfway through the second quarter. Factory orders increased 8.2% after a downwardly revised 3.9% drop in April, the Commerce Department’s Census Bureau said on Thursday. Economists polled by Reuters had forecast …

US factory orders rebound in May on strong aircraft demand Read More »

WASHINGTON (Reuters) -U.S. services sector activity picked up in June as orders rebounded, but employment contracted for the third time this year, underscoring the impact of policy uncertainty on businesses. The Institute for Supply Management (ISM) said on Thursday that its nonmanufacturing purchasing managers index (PMI) increased to 50.8 last month from 49.9 in May. …

US services sector rebounds but employment contracts again Read More »

(Reuters) -Ratings agency Moody’s on Thursday raised Southern Water’s outlook to stable from a review for downgrade, after the British water utility secured an equity lifeline from Australia’s Macquarie and a credit refinancing to avert a debt crisis. Moody’s also confirmed Southern Water’s rating at ‘Ba1’. The firm’s bonds were up on Thursday, adding to …

Moody’s raises Southern Water’s outlook after Macquarie’s $1.63 billion boost Read More »

WASHINGTON (Reuters) -The U.S. trade deficit widened sharply in May as exports fell, but subsiding imports suggested trade could still lead an anticipated rebound in economic growth in the second quarter.  The trade gap increased 18.7% to $71.5 billion in May, the Commerce Department’s Bureau of Economic Analysis said on Thursday.  Data for April was …

US trade deficit widens in May on weak exports Read More »

(Reuters) -U.S. banking giant JPMorgan Chase on Thursday named insider David Frame as the global CEO of its private bank, effective immediately. Housed within the largest U.S. bank’s broader asset and wealth management business, the private bank offers investment solutions to high-net-worth individuals and families. Private banking has become an increasingly important business for global …

JPMorgan names insider David Frame global CEO of private bank Read More »

(Reuters) -Investment bank Lazard has hired Bank of America’s Bill Hart to lead their financial sponsors division’s coverage focused on West Coast clients, a person familiar with the move said on Thursday. Hart, who has over a decade of working experience with financial sponsors, will oversee large and mid-cap sponsors at the investment bank starting …

Lazard hires BofA banker to strengthen financial sponsors division, source says Read More »

(Reuters) -Asset manager BlackRock Inc is in talks with Saudi Aramco to divest its stake in the leasing rights of a natural gas pipeline network back to the state oil major, Bloomberg News reported on Thursday, citing people familiar with the matter. The stake, which BlackRock acquired in 2021, is likely to be worth billions …

BlackRock mulls selling stake in Saudi Aramco gas pipelines, Bloomberg News reports Read More »

By Ed White WINNIPEG, Manitoba (Reuters) -Canada canceled a digital service tax on U.S. technology companies this week in order to preserve trade talks with U.S. President Donald Trump, but another irritant, in agriculture, could be a bigger thorn in the ongoing negotiations. Analysts said ditching the digital services tax was politically easy for Prime …

Dairy supply management could sour Canada-US trade talks Read More »