By Manya Saini (Reuters) -Wall Street’s biggest banks rose in morning trading on Monday after sailing through the U.S. Federal Reserve’s annual health check, setting the stage for billions in stock buybacks and dividends. The central bank said on Friday that 22 of the largest U.S. banks were well-positioned to withstand a future economic downturn …
US banks rise as Fed stress test success clears path for payouts Read More »
By Savyata Mishra and Juveria Tabassum (Reuters) -Home Depot said on Monday unit SRS Distribution has agreed to acquire specialty building products distributor GMS for about $4.3 billion, stepping up its efforts to capture more demand from professional contractors. The deal also comes amid threats of a hostile takeover for GMS from billionaire Brad Jacobs-led …
Home Depot targets contractors, rivals with $4.3 billion deal for GMS Read More »
(Reuters) -Global ratings agency Fitch on Monday revised its outlook on U.S. planemaker Boeing to ‘stable’ from ‘negative’ and affirmed its ‘BBB-‘ rating, citing improved financial flexibility and production. The revision in outlook comes as a relief for Boeing, which has resolved its labor dispute and is undergoing a broader transformation under current CEO Kelly …
Fitch raises Boeing’s outlook to stable as finances, production improve Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Seventy-six companies have bid to develop Europe’s artificial intelligence gigafactories, the EU’s tech chief said on Monday, hailing a bigger than expected response to the bloc’s push to catch up with the U.S. and China in this key technology. The European Commission made the announcement four months after it …
Europe’s AI gigafactory push attracts 76 bids, EU tech chief says Read More »
By Nate Raymond (Reuters) -The U.S. Supreme Court turned away on Monday Exxon Mobil Corp’s bid to overturn a $14.25 million civil penalty that a judge imposed in a long-running lawsuit over air pollution at its Baytown, Texas, crude oil refinery. Exxon had asked the justices to take up the case after a lower court …
US Supreme Court rejects Exxon’s appeal of $14.25 million air pollution penalty Read More »
By Marc Jones LONDON (Reuters) -After U.S. President Donald Trump’s radical campaign pledges, investors knew markets would get bumpy this year as he returned to lead the world’s biggest economy. But almost nobody predicted the outcome so far, especially the dollar’s dramatic fall. Run through the year’s numbers without tracking the journey and many key …
Markets in H1: Down with the dollar, up with guns Read More »
(Corrects spelling of “added” in paragraph 18) By Suzanne McGee (Reuters) -As Wall Street puts April’s tariff shakeout in the rearview mirror and indexes set record highs, investors remain wary of U.S. President Donald Trump’s rapid-fire, sometimes chaotic policymaking process and see the rally as fragile. The S&P 500 and Nasdaq composite index advanced past …
Even as markets rally, Trump’s policymaking causes market angst Read More »
(Reuters) -Parcel giant FedEx said on Monday that it reinstated its services to and from Israel on June 27 after previously halting all pickups amid heightened flight safety risks in the Middle East. The exchange of missile fire between Israel and Iran had forced carriers to cancel or divert thousands of flights, shutting off much …
FedEx resumes Israel services, imposes surcharge on select routes Read More »
By Rishav Chatterjee (Reuters) -U.S.-based infrastructure investment firm I Squared Capital has withdrawn plans to make a takeover offer for Hong Kong’s HKBN, the broadband operator said on Monday, as a competing bid backed by a state-owned entity takes center stage. The announcement comes over a month after Reuters reported that China Mobile was nearing …
US-based I Squared Capital dumps plans to make separate offer for Hong Kong’s HKBN Read More »
(Reuters) -INmune Bio said on Monday its experimental Alzheimer’s drug failed to improve cognitive functions in patients with early stages of the mind-robbing disease in a mid-stage study, sending its shares plunging nearly 63% in premarket trading. The drug, XPro, is designed to target and inhibit inflammatory signals associated with a type of protein called …
INmune Bio’s Alzheimer’s drug falls short of mid-stage study goal, shares tumble Read More »
