Category: Business

US banks report weaker loan demand, Fed survey says
May 7, 2024 No Responses

US banks report weaker loan demand, Fed survey says

(Reuters) – U.S. banks reported renewed weakening in demand for industrial loans and a decline in household demand for credit in the first quarter of the year, according to a Federal Reserve survey of senior loan officers published on Monday....
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Wozniak’s space firm, Privateer, buys Orbital Insight, raises $56.5 million
May 7, 2024 No Responses

Wozniak’s space firm, Privateer, buys Orbital Insight, raises $56.5 million

(This May 6 story has been corrected to fix the spelling of BOKA Group and Lux Capital in paragraph 2) By Joey Roulette WASHINGTON (Reuters) – Apple cofounder Steve Wozniak’s space data startup, Privateer, has raised $56.5 million and also...
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US FAA opens probe into Boeing 787 inspections
May 7, 2024 No Responses

US FAA opens probe into Boeing 787 inspections

By David Shepardson and Allison Lampert WASHINGTON (Reuters) -The Federal Aviation Administration said on Monday it has opened an investigation into the Boeing 787 Dreamliner after the planemaker said some employees had committed “misconduct” by cl...
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Vertex tops Q1 profit estimates on robust demand for cystic fibrosis treatments
May 6, 2024 No Responses

Vertex tops Q1 profit estimates on robust demand for cystic fibrosis treatments

By Pratik Jain (Reuters) -Vertex Pharmaceuticals beat Wall Street estimates for first-quarter profit on Monday, driven by robust uptake for its blockbuster cystic fibrosis treatments. Cystic fibrosis (CF) – an inherited disorder that causes severe damage...
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Wall Street closes higher for third session on rate cut optimism
May 6, 2024 No Responses

Wall Street closes higher for third session on rate cut optimism

By David French (Reuters) -U.S. stock indexes closed higher on Monday, their third straight session of advances, as investors continued to gain hope that there was a greater chance of the Federal Reserve cutting interest rates this year. Expectations for...
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Air Lease Q1 profit misses estimates on higher interest expenses
May 6, 2024 No Responses

Air Lease Q1 profit misses estimates on higher interest expenses

(Reuters) -Air Lease Corp said it is wrestling with delivery delays from planemakers Boeing and Airbus, after reporting a lower-than-expected quarterly profit on Monday as it made higher interest payments on funds borrowed to finance aircraft purchases. Air Le...
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US hospital network Steward files for bankruptcy, aims for new loan
May 6, 2024 No Responses

US hospital network Steward files for bankruptcy, aims for new loan

By Dietrich Knauth NEW YORK (Reuters) -Steward Health Care, which operates 31 hospitals in eight U.S. states, filed for Chapter 11 bankruptcy in Texas on Monday, aiming to secure a new loan from its landlord Medical Properties Trust. Steward, the...
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Global shares rally on rate cut hopes, yen weakens
May 6, 2024 No Responses

Global shares rally on rate cut hopes, yen weakens

By Herbert Lash and Nell Mackenzie NEW YORK/LONDON (Reuters) -A gauge of global stock markets rallied on Monday on optimism that major central banks will cut interest rates this year, while the yen weakened against the dollar after a surge...
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Coty posts Q3 revenue beat, aims for upper end of 2024 targets on strong demand
May 6, 2024 No Responses

Coty posts Q3 revenue beat, aims for upper end of 2024 targets on strong demand

By Ananya Mariam Rajesh (Reuters) -Beauty company Coty beat Wall Street expectations for third-quarter revenue on Monday and said it expects to achieve the high end of its annual targets, riding on steady global demand for its luxury and mass-market...
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Goldman Sachs criminal case over 1MDB formally ends
May 6, 2024 No Responses

Goldman Sachs criminal case over 1MDB formally ends

NEW YORK (Reuters) – A U.S. judge on Monday formally ended the U.S. government’s criminal case against Goldman Sachs related to the Wall Street bank’s work for the Malaysian fund 1MDB after it met its obligations and paid $2.9 billion...
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