Reuters US Business

Morgan Stanley markets $5 billion for Elon Musk-owned xAI in loans, bonds, sources say

10 Jun 2025

By Matt Tracy, Echo Wang and Tatiana Bautzer NEW YORK (Reuters) -Morgan Stanley is marketing a $5 billion package of bonds and two loans on behalf of billionaire Elon Musk-owned xAI, at the same time as a falling out between the world’s richest man and the U.S. president plays out in public, sources familiar with …

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Brazil’s fiscal package to include higher tax on interest on equity

10 Jun 2025

BRASILIA (Reuters) -Brazil’s Finance Minister Fernando Haddad said on Tuesday that the government’s new fiscal package includes an increase in the income tax rate levied on so-called interest on equity (JCP) payments to 20% from 15%. JCP is a form of shareholder remuneration that allows companies to deduct such payments from their corporate tax base. …

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Moody’s flags risks from retail investors’ push into private credit

10 Jun 2025

(Reuters) -The rapid growth in retail investors, who put their money into private markets, could create liquidity and asset quality risks, Moody’s Ratings warned on Tuesday, highlighting potential vulnerabilities within the private credit sector. The rush to court “Main Street” investors is transforming the traditionally institutional world of private credit, with asset managers launching new …

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Packaged food maker J.M. Smucker forecasts annual profit below estimates

10 Jun 2025

(Reuters) -Jif peanut butter maker J.M. Smucker forecast annual profit below estimates on Tuesday, as tariff uncertainty and consecutive price hikes squeeze demand for its dog snacks and sweet baked goods, sending its shares down about 10%. Packaged food makers have been raising prices to counter higher costs from commodities such as green coffee, which …

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Walgreens, Authentic Brands, Kourtney Kardashian among those evaluating Rite Aid assets, sources say

10 Jun 2025

By Abigail Summerville NEW YORK (Reuters) -Pharmacy chain Walgreens and reality star turned entrepreneur Kourtney Kardashian are among those picking over the remaining assets in Rite Aid’s bankruptcy, according to two people familiar with the matter. In addition to Walgreens, brand management companies Authentic Brands Group, WHP Global and Marquee Brands have been evaluating Rite …

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NextEra CEO says renewables needed as bridge to expanding gas power

10 Jun 2025

By Valerie Volcovici WASHINGTON (Reuters) -Renewable energy sources like wind and solar power are needed to meet rapidly growing energy demand in the United States amid near-term obstacles to increasing natural gas capacity, NextEra <NEE.N> CEO John Ketchum said on Tuesday. Competition and high costs to obtain gas turbines, a construction labor shortage, and the …

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Snap to launch smart glasses for users in 2026 in challenge to Meta

10 Jun 2025

(Reuters) -Snap will launch its first-ever smart glasses for all consumers next year, ratcheting up competition with bigger rival Meta in the wearable technology market. The augmented reality smart glasses, called Specs, will be lightweight, the social media company said on Tuesday. Long known for its messaging app Snapchat and animated filters, Snap has been …

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Shell’s decision on Phase 2 of LNG Canada will depend on other opportunities, exec says

10 Jun 2025

CALGARY (Reuters) -Shell Canada’s decision on whether to pursue Phase 2 of LNG Canada will depend on other opportunities that are available, President Stastia West said on Tuesday at a conference. LNG Canada, the country’s first LNG export facility, is a joint venture between Shell, Petronas, PetroChina, Mitsubishi Corporation and Kogas. It is expected to …

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UniCredit disposals set to win EU nod for Banco BPM deal, sources say

10 Jun 2025

By Foo Yun Chee, Andrea Mandala and Valentina Za BRUSSELS/MILAN (Reuters) -Italian bank UniCredit is expected to win European Union antitrust approval for its Banco BPM takeover bid after offering to divest 206 branches to ease competition concerns, people with direct knowledge of the matter said on Tuesday. The European Commission, which acts as the …

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