Reuters US Business

Burger King-parent Restaurant Brands’ quarterly results miss on weak demand

8 May 2025

By Anuja Bharat Mistry (Reuters) -Restaurant Brands missed first-quarter revenue and profit estimates on Thursday, hurt by sluggish demand at its restaurant chains such as Burger King and Tim Hortons amid tariff-related uncertainty. The restaurant industry has been battling ongoing sales declines as budget-conscious Americans stick to home-cooked meals, prioritizing spending on essentials over dining …

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Software provider EPAM raises annual forecasts, announces CEO change

8 May 2025

(Reuters) -EPAM Systems raised its annual revenue and profit forecasts on Thursday, helped by steady enterprise demand for its IT consulting services, sending its shares up around 10% in premarket trading. The company also said its founder and CEO Arkadiy Dobkin will transition to executive chairman on September 1, and revenue chief Balazs Fejes will …

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Higher interest rates to delay U.S. residential market recovery, CRH CEO says

8 May 2025

DUBLIN (Reuters) -A recovery in the currently subdued U.S. residential construction market will inevitably take longer due to interest rates and inflation potentially staying higher for longer, the head of the largest building materials producer in the United States, CRH, said on Thursday. “The much needed recovery in U.S. residential is going to I think …

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Exclusive-DOGE-led software revamp to speed US job cuts even as Musk steps back

8 May 2025

By Alexandra Alper WASHINGTON (Reuters) -The federal human resources agency at the heart of billionaire Elon Musk’s efforts to slash the federal workforce is poised to roll out software to speed layoffs across the U.S. government, two people familiar with the matter told Reuters. The software could turbo-charge the rapid-fire effort to downsize the government …

Exclusive-DOGE-led software revamp to speed US job cuts even as Musk steps back Read More »

Chipmaker SMIC reports 161% surge in first quarter profit

8 May 2025

By Che Pan and Brenda Goh BEIJING (Reuters) -Semiconductor Manufacturing International Corp，China’s largest contract chip maker, reported on Thursday a 161.9% year-on-year surge in first-quarter profit. Profit attributable to owners of SMIC reached $188 million in the March quarter, but missed analysts’ estimate of $222.4 million, according to LSEG data. Revenue rose 28.4% to $2.2 …

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Bosch says US tariffs’ impact is unpredictable, sees flat 2025 organic sales

8 May 2025

FRANKFURT (Reuters) -German automotive supplier Robert Bosch said on Thursday it would not be able to estimate the impact of tariffs on its business until late in the year, and predicted 2025 sales to grow by a currency-adjusted 1% to 3%. Volatility in global trade makes the forecast fraught with uncertainty, the company said, also …

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Can Trump’s tax cuts be made permanent? Tariffs, spending fights cloud the picture

8 May 2025

By David Morgan WASHINGTON (Reuters) -Republican hopes of making all of President Donald Trump’s 2017 tax cuts permanent are in jeopardy in Congress, as lawmakers struggle to agree on how to pay for them and Trump’s trade war and immigration crackdown dim the prospect of economic growth. With an unofficial deadline for House of Representatives …

Can Trump’s tax cuts be made permanent? Tariffs, spending fights cloud the picture Read More »

Analysis-Investors add Fed rate uncertainty to tariff murkiness

8 May 2025

By Lewis Krauskopf and Suzanne McGee NEW YORK (Reuters) -Investors grappling with uncertainty over the economic fallout from President Donald Trump’s tariffs are facing the likelihood that the chaotic trade backdrop means the path of monetary policy remains up in the air. The Federal Reserve kept rates steady on Wednesday, as expected, and said the …

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