Reuters US Business

Germany’s Merck KGaA in $3.9 billion deal to buy US biotech firm SpringWorks

30 Apr 2025

(This April 28 story has been corrected to clarify the deal’s regulatory status in Europe, in paragraph 11) By Sabrina Valle and Ludwig Burger NEW YORK/FRANKFURT (Reuters) – Germany’s Merck KGaA has struck a deal to buy U.S. biotech company SpringWorks Therapeutics for an equity value of $3.9 billion to add rare cancer therapies ahead …

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Japan’s factory output slides as Trump tariffs jolt manufacturers

30 Apr 2025

By Satoshi Sugiyama TOKYO (Reuters) -Japan’s factory output fell more than expected in March, dragged down by its key motor vehicles industry, as U.S. President Donald Trump’s tariff policies rattle manufacturers and a whole host of industries globally. Japan’s trade negotiator Ryosei Akazawa will be heading to the United States on Wednesday to meet his …

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Toyota, Waymo explore collaboration to speed up self-driving tech

30 Apr 2025

TOKYO (Reuters) – Toyota Motor and Alphabet’s Waymo said on Wednesday they will explore collaborating on the development of a new autonomous vehicle platform and ways to enhance next-generation personally owned vehicles (POVs). Toyota will build the platform, which will be deployed in Waymo’s autonomous vehicle fleet, a Waymo spokesperson said. The companies will also …

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Star Entertainment swings to third-quarter loss as storms, weak demand hit casinos

30 Apr 2025

(Reuters) -Star Entertainment said on Wednesday it swung to an operating loss in the third quarter, as seasonal weakness, dwindling casino visitors and Queensland property closures from March storms battered the troubled Australian gambling operator. For the quarter ended March 31, the company reported a loss in earnings before interest, taxes, depreciation, and amortization of …

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Starbucks to beef up store staffing, go slow on automation rollout

30 Apr 2025

By Waylon Cunningham (Reuters) -Starbucks will invest more in staffing and less on equipment, including an automation system that it previously touted, CEO Brian Niccol said on Tuesday, breaking with a wider industry trend to rely more on technology for store operations. Niccol said additional staffing was critical to improving the customer experience – his …

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Grab Holdings’ quarterly revenue beats expectations as spending remains strong

30 Apr 2025

By Zaheer Kachwala (Reuters) -Grab Holdings beat Wall Street expectations for first-quarter revenue on Tuesday, as the company benefited from strong spending on its ride-hailing and food delivery platform despite economic uncertainty. The company reported revenue of $773 million for the first quarter, compared with estimates of $762.6 million, according to data compiled by LSEG. …

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Australia’s Westpac flags $89.4 million hedging hit to half-year profit

30 Apr 2025

(Reuters) -Australia’s Westpac Banking Corp said on Wednesday net profit after tax for the first half of 2025 would be reduced by A$140 million ($89.35 million) due to hedging. The bank reported a first-half net profit of A$3.34 billion ($2.13 billion) in 2024. Westpac will announce 2025 half-year results on May 5. ($1 = 1.5672 …

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Equities end higher after choppy trade as earnings, data, tariffs gauged

30 Apr 2025

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks closed solidly in positive territory on Tuesday, after seesawing between modest gains and losses in choppy trading as investors assessed the latest round of corporate earnings, economic data and changes on the trade policy front. U.S. Treasury Secretary Scott Bessent predicted China could lose 10 million jobs …

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Petrobras posts slight drop in first-quarter oil and gas output

30 Apr 2025

RIO DE JANEIRO/SAO PAULO (Reuters) -Brazilian state-run oil firm Petrobras reported on Tuesday oil, gas and gas liquids production of 2.77 million barrels of oil equivalent per day (boed) in the first quarter, down 0.2% from a year earlier. Petrobras’ oil production in Brazil fell by 1% year-on-year, to 2.21 million barrels per day (bpd), …

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UK business morale drops as concerns over tariffs, economy mount

30 Apr 2025

LONDON (Reuters) -British business sentiment fell to its lowest level in three months and employers were concerned about implications of U.S. tariffs and the wider economy as they grapple with higher employment costs, two industry surveys showed on Wednesday. The Lloyds Bank Business Barometer measure of confidence among companies fell by 10 points to 39% …

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