Reuters US Business

By Prakhar Srivastava and Arasu Kannagi Basil (Reuters) -Aspen Insurance secured a valuation of $3.05 billion after its shares jumped 10.8% on Thursday in their New York Stock Exchange debut, as the IPO market returns to action after tariff-driven volatility paused activity. The Bermudian specialty insurer’s shares opened at $33.25 apiece, above the $30 offer …

Apollo-backed Aspen Insurance valued at $3 billion as shares jump in NYSE debut Read More »

By Mrinalika Roy (Reuters) -ConocoPhillips beat Wall Street estimates for first-quarter profit on Thursday on strong production volumes, but warned that weak oil prices would likely lead to output cuts in the industry. CEO Ryan Lance said during a post-earnings call that while balance sheets across the sector were in good shape, a crude price …

ConocoPhillips warns weak prices may trigger output cuts in oil industry Read More »

By Andrea Shalal and Steve Holland WASHINGTON (Reuters) -U.S. President Donald Trump renewed his criticism on Thursday of Federal Reserve Chair Jerome Powell, calling him a “fool” and complaining that the Fed is refusing to lower interest rates. Trump has been on a virtual war path against Powell in recent weeks, threatening to fire him …

Trump castigates Fed’s Powell for not cutting rates, downplays inflation risk Read More »

By Curtis Williams (Reuters) -Cheniere Energy, the largest U.S. liquefied natural gas exporter, beat first-quarter estimates for core profit and revenue on Thursday, helped by rising prices for the superchilled gas as demand increased. The U.S. is the world’s top exporter of LNG and commercial activity in the sector has gained further momentum following President …

Cheniere’s Q1 core profit, revenue beat estimates on strong LNG margins Read More »

By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell sharply last week as the spring break-related boost from the prior week faded, suggesting the labor market continued to chug along, though risks are mounting from tariffs. Employers are hoarding workers after difficulties finding labor during and after the …

US labor market stays resilient, but workers less productive in Q1 Read More »

By David Shepardson and Rajesh Kumar Singh WASHINGTON (Reuters) -U.S. Transportation Secretary Sean Duffy on Thursday will call for tens of billions of dollars to overhaul America’s strained air traffic control system to address crumbling infrastructure, dramatic staffing shortfalls and failing technology. Key questions remain unanswered: Will it work? How long will it take? How …

Trump’s plan to fix air traffic control faces huge hurdles Read More »

By Kritika Lamba (Reuters) -Match Group on Thursday posted a 5% fall in paying users for the first quarter, sending its shares down 7% as investors concerned about the Tinder owner’s business revamp looked past its estimate-beating results. The dating app operator also announced plans to slash 13% of its workforce to cut costs – …

Tinder parent Match’s paying users fall as demand slowdown intensifies Read More »

(Reuters) -Instacart head Fidji Simo will step down to join OpenAI as its chief of applications, CEO and co-founder Sam Altman said on Thursday, adding she will report to him and that he will remain head of the Microsoft-backed ChatGPT maker. The announcement comes two days after OpenAI dialed back a significant restructuring plan, with …

Instacart CEO Fidji Simo to join OpenAI as head of applications Read More »