Category: Business

By Caroline Valetkevitch NEW YORK (Reuters) -Global stock indexes were little changed on Monday while the U.S. dollar inched higher ahead of Tuesday’s U.S. consumer price index report, which could provide clues on when the Federal Reserve is likely to begin cutting interest rates. In cryptocurrencies, bitcoin hit the $50,000 level for the first time…

By Gertrude Chavez-Dreyfuss and Herbert Lash NEW YORK (Reuters) -The dollar rose modestly against major currencies on Monday, as investors braced for data on U.S. inflation and retail sales this week for clues on when the Federal Reserve may begin widely anticipated interest rate cuts. In cryptocurrencies, bitcoin hit $50,000 for the first time since…

(Adds graphic) By Carolina Mandl, Matt Tracy and Saeed Azhar NEW YORK/WASHINGTON (Reuters) -New York Community Bancorp’s exposure to commercial real estate has intensified investor scrutiny around regional banks, with some expecting more pain for those with office and multifamily property loans. Fears about the health of the smaller banks have escalated again a year…

By Jody Godoy (Reuters) -A federal judge ordered Elon Musk to testify again in the U.S. Securities and Exchange Commission’s probe of his $44 billion takeover of Twitter, giving the regulator and the billionaire a week to agree on a date and location for the interview. U.S. Magistrate Judge Laurel Beeler’s order, issued on Saturday…

By Richa Naidu LONDON (Reuters) -Unilever CEO Hein Schumacher said board member Nelson Peltz is “fully behind” a recently devised strategy to re-invigorate the company, showing that he still has the backing of the activist investor who endorsed his appointment last year. Schumacher told Reuters he wants Unilever, whose brands include Dove soap, Hellmann’s condiments…

By Manya Saini and Niket Nishant (Reuters) -New York Community Bancorp’s shares closed up nearly 17% on Friday after top executives disclosed they had bought stock in the U.S. lender. NYCB has taken steps to boost investor confidence in recent days after its shares lost around 50% since Jan. 31, when it posted a surprise…

By Granth Vanaik (Reuters) -Hershey on Thursday outlined a new two-year restructuring program that would generate about $300 million in pre-tax savings after projecting annual sales and profit below Wall Street expectations. The Reese’s Peanut Butter Cups maker’s announcement helped shares reverse course to rise about 6% in early trading. The restructuring will impact less…

By Rajesh Kumar Singh and Shivansh Tiwary (Reuters) -Spirit Airlines on Thursday dismissed speculation about its future as a “misguided narrative,” saying the ultra-low-cost carrier has boosted liquidity to survive even if its proposed merger with JetBlue fails to close. The Florida-based carrier said it is making changes to its network and “right sizing” labor…

By Samrhitha A (Reuters) -Arm Holdings shares surged more than 55% on Thursday, on track for their best day since a blockbuster market debut in September, powered by strong forecasts on demand for its technology to design chips for artificial intelligence features. The surge would put the British chip designer’s market value at more than…

By Richa Naidu LONDON (Reuters) – Unilever launched a 1.5 billion euro ($1.6 billion) share buyback on Thursday after volumes increased for the first time in 10 quarters, although the consumer goods giant’s CEO said its performance needs to improve. “Our competitiveness remains disappointing and overall performance needs to improve,” Hein Schumacher said in a…