Reuters US Business

By Sabrina Valle (Reuters) -Mallinckrodt and Endo, drugmakers which recently emerged from bankruptcy after a wave of U.S. opioid lawsuits, announced plans Thursday to join forces in a deal valued at $6.7 billion. Mallinckrodt Chief Executive Siggi Olafsson said the companies’ operations and products complement each other. With large manufacturing facilities in the U.S., he …

Drugmakers Mallinckrodt and Endo get a bump from tariffs in $6.7 billion merger Read More »

(Reuters) – Market volatility and economic uncertainty amid ever-changing tariff talk are set to push out the much-anticipated robust investment banking rebound in 2025, Morgan Stanley analysts said in a note on Thursday. Wall Street was expecting a banner year for capital markets activity in 2025 after U.S. President Donald Trump was elected in November, …

Investment banking rebound set to be delayed amid market volatility, Morgan Stanley says Read More »

(Reuters) – EquiLend, a fintech at the heart of securities lending on Wall Street, said on Thursday it has secured a minority investment from an affiliate of U.S. banking giant BNY. The securities lending industry enables investors to borrow and lend stocks, bonds and other assets to facilitate liquidity management and trading strategies. Major banks, …

Wall Street powerhouse BNY takes minority stake in EquiLend Read More »

By Jonathan Stempel (Reuters) – Stifel Financial was ordered by a Financial Industry Regulatory Authority arbitration panel to pay a family $132.5 million for misrepresenting the risk of complex structured notes, causing what their lawyer called “staggering” losses. The three-member panel on Wednesday awarded $26.5 million in compensatory damages, $79.5 million in punitive damages and …

Stifel ordered by FINRA to pay $132.5 million damages to US family Read More »

MILAN (Reuters) -Italian luxury group Brunello Cucinelli on Thursday said its operating profit had risen 12.9% last year and confirmed its expectations of sales growth of around 10% in 2025 and 2026. Earning before interest and taxes (EBIT) came in at 212 million euros ($230.4 million) in 2024, slightly below an analysts’ forecast of 214 …

Cucinelli posts higher profits, confirms sales guidance Read More »

BERLIN (Reuters) -Canada has requested WTO dispute consultations with the U.S. over its imposition of import duties on certain steel and aluminium products from Canada, the trade body said on Thursday. The request was circulated to World Trade Organization members on Thursday, it said. Canada says the measures, which end Canada’s exemption from additional duties …

Canada initiates WTO dispute complaint on US steel, aluminium duties Read More »

By Medha Singh and Lisa Pauline Mattackal (Reuters) – They bought in haste – will they repent at leisure? A stampede of new investors hoovered up bitcoin at lofty prices as crypto fever ran high after Donald Trump swept to victory in the November U.S. presidential election. Now, barely six weeks after Trump was inaugurated, …

Cryptoverse: Bitcoin’s bear market hits newcomers hardest Read More »

By Elisa Martinuzzi and Tatiana Bautzer LONDON/NEW YORK (Reuters) – Citigroup plans to dramatically reduce its reliance on information technology contractors and hire thousands of employees for IT as the lender grapples with regulatory punishments over data governance and deficient controls. Citigroup’s head of technology Tim Ryan told staff in recent weeks that the bank …

Exclusive-Citigroup plans to slash IT contractors, hire staff to improve controls Read More »