WASHINGTON (Reuters) -The California State Senate has opened an inquiry into whether Paramount violated state laws against bribery and unfair competition, Semafor reported on Friday. The investigation comes after the network reportedly offered President Donald Trump’s 2024 campaign $15 million to settle a lawsuit filed against CBS over an edited interview with his Democratic rival …
By Mrinalika Roy (Reuters) -EOG Resources said on Friday it would acquire U.S. oil and gas firm Encino Acquisition Partners for $5.6 billion, including debt, to bolster its Utica shale position. The Utica and Marcellus region is one of the world’s most prolific and vital natural gas production areas, with output topping 35 billion cubic …
Shale producer EOG boosts Utica footprint with $5.6 billion Encino deal Read More »
SAO PAULO (Reuters) -Brazilian airline Azul aims to exit Chapter 11 proceedings early next year, Fabio Campos, institutional and corporate vice-president, told reporters in a press conference on Friday. Asked about plans to combine operations with local airline Gol, Campos said Azul will now focus primarily on its financial restructuring process. Azul filed for Chapter …
Brazilian airline Azul aims to exit Chapter 11 in early 2026 Read More »
By Bo Erickson WASHINGTON (Reuters) -U.S. President Donald Trump would have the power to retaliate against countries that impose special digital service taxes on large U.S. technology companies like Amazon and Alphabet, under a provision in the sweeping tax bill that Congress is considering. “If foreign countries want to come in the United States and …
Tax bill contains ‘sledgehammer’ for Trump to retaliate against foreign digital taxes Read More »
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumer spending increased marginally in April, with households opting to boost savings amid mounting economic uncertainty because of a constantly changing tariff landscape. The report from the Commerce Department on Friday suggested the economy struggled to rebound early in the second quarter after contracting in the January-March quarter for …
US consumers pulling back spending; inflation slowing for now Read More »
(Reuters) -Howmet Aerospace will need to produce more parts this year for engines used in Boeing and Airbus narrowbody jets, as the planemakers ramp up output and the need for spares grows, the parts supplier’s CEO John Plant said on Friday. Plant’s comments come a day after Boeing expressed optimism about increasing the production of …
Howmet needs to ramp engine parts production as jet output rises, CEO says Read More »
By Carolina Mandl NEW YORK/LONDON (Reuters) -Wall Street analysts are cautioning that a tax targeting foreign investors in the U.S. budget bill progressing through Congress could end up weighing on demand for U.S. Treasuries and the dollar. The U.S. House of Representatives has approved a sweeping tax and spending bill that includes the possibility of …
Wall Street fears foreign tax in budget bill may reduce allure of US assets Read More »
By Sriparna Roy (Reuters) -Regeneron shares fell nearly 18% on Friday after its experimental drug for patients with a type of lung condition commonly called “smoker’s lung” failed a late-stage trial, although it succeeded in another. Regeneron and partner Sanofi were studying the drug, which some analysts expect could bring in peak sales of as …
Regeneron shares slide on mixed trial data for smoker’s lung drug Read More »
By Ann Saphir (Reuters) -Federal Reserve policymakers wary of cutting interest rates in the face of President Donald Trump’s aggressive tariffs will likely stick to their wait-and-see stance amid fresh data Friday showing muted inflation last month and evidence of increased consumer caution. April’s 2.1% year-over year increase in the Personal Consumption Expenditure price index, …
Fed seen on hold amid cooler inflation, cautious consumer Read More »
By Jarrett Renshaw and Stephanie Kelly WASHINGTON (Reuters) -The White House is weighing a plan to clear a record backlog of requests from small refineries for exemptions from U.S. biofuel laws, which could include approving many current applications and requesting industry input to deal with older ones, according to three sources familiar with the plans. …
