Reuters US Business

By Niket Nishant (Reuters) – Insurance bellwether Travelers’ first-quarter profit exceeded analysts’ expectations on Wednesday, as strong underwriting gains helped soften the hit from over $2 billion of catastrophe losses driven by the Los Angeles wildfires. Shares rose 4%, extending a recovery after tariff-related market turmoil drove them to a three-month low last week. The …

Travelers profit beats as underwriting gains cushion $2 billion wildfire hit Read More »

By Christy Santhosh and Puyaan Singh (Reuters) -Medical device maker Abbott Laboratories maintained its annual profit forecast on Wednesday and said it expected the U.S. tariffs to hit earnings by a “few hundred million dollars”. Shares rose 6% in morning trade, as the company also announced $500 million in new investments in manufacturing and research …

Abbott backs profit forecast, to invest $500 million in US amid tariffs Read More »

OTTAWA, April 16 (Reuters) – The Bank of Canada released the following statement by Governor Tiff Macklem on Wednesday: “Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement and our April Monetary Policy Report (MPR). “Today, Governing Council maintained the policy interest rate at 2.75% after …

FULL TEXT-Bank of Canada held rates as it seeks more information on tariffs, says Governor Read More »

By Stephanie Kelly NEW YORK (Reuters) – U.S. crude stocks rose last week despite a major increase in exports, while fuel inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 515,000 barrels to 442.9 million barrels in the week ended April 11, the EIA said, compared with analysts’ expectations in a …

US crude stocks rise despite large increase in exports, EIA data shows Read More »

(Reuters) -Activist investor Engine Capital is gearing up for a proxy battle at Lyft, after it nominated two directors to the board of the ride-hailing company on Wednesday. The hedge fund, which owns about 1% of Lyft, said it nominated Alan Bazaar and Daniel Silvers for election to the board of the company, which has …

Lyft investor Engine Capital names board nominees in start to proxy battle Read More »