By Stephen Nellis, Akash Sriram SAN FRANCISCO (Reuters) -Apple on Thursday trimmed its share buyback program by $10 billion, with CEO Tim Cook telling analysts that tariffs could add about $900 million in costs this quarter as the iPhone maker shifts its vast supply chain to minimize the impact of President Donald Trump’s trade war. …
Apple girds for more trade war pain, trims buyback Read More »
By Lucia Mutikani WASHINGTON (Reuters) -U.S. job growth likely slowed in April amid heightened economic uncertainty because of President Donald Trump’s aggressive tariff policy, though companies continued to hoard workers, keeping the labor market humming for now. The Labor Department’s closely watched employment report on Friday is, however, likely to be dismissed as backward-looking and …
Tariff-induced uncertainty seen curbing US job growth in April Read More »
WASHINGTON (Reuters) -U.S. President Donald Trump plans to unveil his budget proposal for the 2026 fiscal year on Friday and send it to Congress, according to a White House official. The annual White House budget request includes economic forecasts as well as detailed proposals about how much money should be spent by every government agency …
Trump plans to unveil federal budget proposal on Friday Read More »
By Deena Beasley (Reuters) -Amgen on Thursday said its first-quarter profit rose 24%, driven by product sales, and said that while it is premature to speculate on the impact of U.S. tariffs, tax policy would be a more effective way to influence U.S. manufacturing. President Donald Trump’s administration has opened a national security investigation into …
Amgen posts profit, says tax policy more effective than tariffs Read More »
By Nate Raymond BOSTON (Reuters) -The U.S. Department of Justice accused three of the nation’s largest health insurers of paying hundreds of millions of dollars in kickbacks to brokers in exchange for steering patients into the insurers’ Medicare Advantage plans. In a complaint filed in Boston federal court on Thursday, the Justice Department alleged that …
US accuses health insurers, brokers of Medicare Advantage kickback scheme Read More »
MEXICO CITY (Reuters) -Mexico’s government will gradually reduce the standard work week to 40 hours, Labor and Social Security Minister Marath Bolanos said on Thursday, in a move expected to take full effect by January 2030. Speaking at a Labor Day event, Bolanos said the ministry will hold a series of forums in cities across …
Mexico plans gradual reduction to 40-hour work week by 2030 Read More »
By Roushni Nair (Reuters) – Australia’s biggest banks face a pivotal earnings test next week as they navigate mixed interest margin prospects in the face of looming rate cuts, persistent inflation concerns and rising mortgage stress. The results arrive after a politically-charged election set for May 3 dominated by cost-of-living anxieties that are reshaping banks’ …
Australia’s banks face critical earnings test amid economic, political crosscurrents Read More »
By Lananh Nguyen and Suzanne McGee NEW YORK (Reuters) -Stock investors have cut risks by selling U.S. equities and buying bonds and non-U.S. shares in response to April’s turbulent markets, Charles Schwab CEO Rick Wurster told Reuters. “We saw clients repositioning themselves, trimming their risk a little bit, making sure they were well-diversified” in response …
Charles Schwab CEO says investors are cutting risk after April turmoil Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks rallied on Thursday, with the Dow and S&P 500 posting their eighth straight session of gains after strong results from megacaps Microsoft and Meta eased concerns about artificial intelligence spending. Microsoft surged and hit its highest level since late January, driven by an upbeat quarterly growth forecast …
Stocks close sharply higher, lifted by Microsoft, Meta earnings Read More »
By Caroline Valetkevitch NEW YORK (Reuters) -Shares of both Apple and Amazon.com eased in after-hours trading on Thursday, with forecasts including Apple’s estimated tariff costs disappointing investors after U.S. tech-related shares jumped earlier in the day. Apple’s stock was down 4% after the bell. While the company’s results were better than analysts had expected, CEO …
Apple, Amazon shares slip after hours; tech shares jump earlier Read More »
