(Reuters) -American International Group reported lower first-quarter profit on Thursday, as the inferno that scorched more than 16,000 structures in Los Angeles in January led to higher catastrophe losses. The company – one of the world’s largest commercial insurers – posted catastrophe losses of $525 million in the three months ended March 31, with $460 …
Insurer AIG’s profit falls on Los Angeles wildfire losses Read More »
By Luciana Magalhaes SAO PAULO (Reuters) – Brazilian airline Gol on Thursday announced that it has struck a new deal with key creditors, paving the way for the company to emerge from Chapter 11 bankruptcy protection likely by the end of June. The agreement, which involves investors holding a portion of the airline’s senior secured …
Brazil’s Gol Airlines secures new financing to support Chapter 11 exit Read More »
HOUSTON (Reuters) -A vessel chartered by Chevron carrying some 300,000 barrels of Venezuelan oil was set to start discharging at a Venezuelan port on Thursday, according to shipping data and a source. It would be the last tanker to return its cargo following state company PDVSA’s order to return the crude amid payment uncertainty related …
By Nora Eckert DETROIT (Reuters) – Ford Motor has killed a program to develop next-generation electrical architecture – the brain of modern cars – that its executives have called pivotal to competing with electric-vehicle pioneers such as Tesla, three sources familiar with the matter told Reuters. Ford had invested heavily in the system, known internally …
Ford kills project to develop Tesla-like electronic brain Read More »
WASHINGTON (Reuters) – The White House on Thursday rebuffed an effort to give small U.S. business owners any immediate relief from tariffs, saying those companies would get economic relief from tax cuts that Congress is seeking to extend. The U.S. Chamber of Commerce, in a letter to U.S. President Donald Trump’s administration, asked for small …
White House dismisses Chamber push for small businesses tariff relief Read More »
By Bhanvi Satija and Patrick Wingrove (Reuters) -Eli Lilly on Thursday downplayed CVS Health’s decision to drop the company’s obesity drug Zepbound from some lists of medicines it covers for reimbursement, but shares of the drugmaker still fell roughly 10% on investor worries that the move could blunt its sales momentum. Lilly’s leading position in …
Eli Lilly downplays CVS move to drop Zepbound coverage, shares plunge Read More »
(Reuters) -Kleenex tissue maker said on Thursday it would invest $2 billion over five years to expand its manufacturing capacity in the United States amid a push for local manufacturing under U.S. President Donald Trump. The Trump administration’s efforts to impose import taxes on goods from major U.S. trading partners are prompting companies to reconsider …
Kimberly-Clark to invest $2 billion to bulk up US manufacturing Read More »
By Carolina Mandl NEW YORK (Reuters) -Citadel’s flagship fund Wellington was up 1.3% in April, as it navigated a tumultuous month, a source familiar with the matter said on Thursday. Other Citadel funds also posted positive performances last month. The tactical trading fund rose 1.9%, while the global equities fund gained 2.2%, and the global …
Citadel’s flagship fund Wellington up 1.3% in April, source says Read More »
By Kalea Hall DETROIT (Reuters) -General Motors cut its 2025 profit forecast on Thursday after receiving some clarity and a reprieve from the White House this week on automotive tariffs. CEO Mary Barra told shareholders in a letter that the company would maintain dialogue with the Trump administration on trade and other policies as they evolve. …
GM cuts 2025 profit forecast, expects up to $5 billion tariff impact Read More »
(Reuters) -Microsoft is getting ready to host Elon Musk’s Grok AI model, The Verge reported on Thursday citing a source familiar with the plans. The tech giant has been in discussions with Musk’s AI startup xAI in recent weeks to host the Grok model and make it available to customers, as well as Microsoft’s own product …
Microsoft preparing to host Musk’s Grok AI model, The Verge reports Read More »
