By David Shepardson WASHINGTON (Reuters) -The U.S. Postal Service Board on Friday said it named David Steiner, a FedEx board member and former CEO of Waste Management, as the new postmaster general after the White House pressured the prior leader to resign in March. Postal unions have raised sharp concerns about Steiner’s selection to succeed …
FedEx board member tapped to lead U.S. Postal Service Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Shell, the top U.S. offshore producer, said this week that two of its wells to boost production at the Perdido offshore development were delayed to the end of the year, while one was brought online in March. All three wells, part of Perdido’s Great White unit, were originally expected to …
Shell faces delays on two wells at offshore Perdido development in US Gulf Read More »
By Michael S. Derby (Reuters) -The first wave of Federal Reserve officials to weigh in after this week’s policy meeting reiterated on Friday that the current economic uncertainty calls for monetary policy patience as Trump administration trade policy boosts risks to the outlook. When it comes to the current state of Fed policy, “we’re in …
Fed officials, citing uncertainty, reiterate patient policy stance Read More »
By Arunima Kumar (Reuters) -Top U.S. oilfield service firms have signaled a challenging period ahead as a recent slide in oil prices pushes producers to temper their drilling activity and rethink their budgets. SLB, Halliburton, and Baker Hughes all flagged cautious customer spending in their first-quarter reports, citing a lack of visibility, especially in North …
US oilfield giants brace for tough times as price slide rattles producers Read More »
By Howard Schneider PALO ALTO, California (Reuters) -The structure of the Federal Reserve’s Board of Governors, with members who cannot be fired over policy disputes and serve for periods staggered across presidential terms, has “stood the test of time” and should be preserved, Fed Governor Christopher Waller said on Friday. Waller, citing earlier research of …
Fed’s independent structure has proved its worth, Waller says Read More »
(Reuters) -Johnson & Johnson said on Friday its experimental psoriasis drug met the main goal of a late-stage study, as the once-daily pill helped patients achieve clear or almost clear skin. The drugmaker has been working on more convenient treatment options as its injectable psoriasis drug Stelara, which gained over $10 billion in sales last …
J&J’s oral psoriasis drug helps patients achieve clear skin in late-stage study Read More »
WASHINGTON (Reuters) -The U.S. Postal Service on Friday reported a net loss of $3.3 billion for the three months ending March 31 as the money-losing agency continues to hike stamp prices and look at ways to cut costs. USPS said its controllable loss was $848 million, up from $317 million in the same quarter last …
US Postal Service reports $3.3 billion quarterly net loss Read More »
MONTREAL (Reuters) -Air Canada is seeing a “low teens” percentage decline in bookings over the next six months for trips across the U.S. border amid trade tensions and a weaker Canadian dollar, the airline’s CEO said on Friday. However, shares in Canada’s biggest airline jumped more than 10% in morning trade after it reported a …
Air Canada bookings to US decline by ‘low teens’ on trade tensions, CEO says Read More »
By Zaheer Kachwala (Reuters) -Pinterest shares jumped more than 11% on Friday, after a strong quarterly revenue forecast allayed investor jitters about the uncertainty of advertising spending on its platform amid global economic volatility. Its robust first-quarter revenue positions it alongside peers Reddit and Facebook-parent Meta, which also saw strong top-line results at a time …
Pinterest shares surge as strong ad spend defies tariff uncertainty Read More »
(Reuters) -Engine Capital said on Friday it would end its activist campaign at Lyft and withdraw its board nominees after the ride-hailing platform raised its stock buyback program to the level proposed by the investor. It is one of the rare instances of an activist campaign ending within weeks when proxy battles typically run for …
Activist investor Engine Capital ends campaign at Lyft, withdraws board nominees Read More »
