(Reuters) -Insurer American International Group Inc beat market estimates for quarterly profit on Monday as a jump in underwriting income cushioned the blow from lower investment returns. Net premiums written in the company’s general insurance business rose 5% on a constant currency basis in the April-June quarter to $6.9 billion, while underwriting income climbed 73%….
By Fergal Smith (Reuters) – Canada’s main stock index rose on Monday for a fourth straight day as Barrick Gold Corp reported better-than-expected quarterly earnings and oil prices rebounded, while investors grew optimistic that interest rates are nearing a peak. The Toronto Stock Exchange’s S&P/TSX composite index ended 49.04 points, or 0.25%, higher at 19,669.17,…
By Joey Roulette WASHINGTON (Reuters) -Northrop Grumman is partnering with rocket startup Firefly Aerospace to build a new version of its workhorse Antares rocket without Russian-made engines that were cut off from the United States after the invasion of Ukraine, the company said on Monday. The new version of Antares, a rocket which NASA uses…
By Tim Hepher PARIS (Reuters) -Airbus on Monday confirmed slower deliveries in July as a supply crunch left semi-finished jets outside its factories without engines, but bolstered its future business with confirmation of a major new order from China. The European planemaker said it had delivered 46 planes in July, down from 60 in the…
WASHINGTON (AP) — Federal regulators said Monday they are satisfied with changes Boeing has made in the production of its 787 Dreamliner passenger jet, clearing the way for the company to resume deliveries. American Airlines said it expects to get its first new 787 in more than 15 months as early as Wednesday. The Federal…
NEW YORK (AP) — It’s an old and new media marriage: Axios Media, the digital news site known for its to-the-point blurbs on politics, tech and business, is being acquired by Cox Enterprises, the media conglomerate that owns the Atlanta Journal-Constitution, the Kelley Blue Book and major broadband internet services. Cox said Monday that it…
(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – Russian banks that have their foreign currency funds frozen due to western sanctions can suspend operations in such currencies with their corporate clients, according to a decree signed by President Vladimir Putin on Monday. Russian…
(Reuters) -Qualcomm agreed to buy an additional $4.2 billion in semiconductor chips from GlobalFoundries’s New York factory, bringing its total commitment to $7.4 billion in purchases through 2028, according to a filing released Monday. The announcement expands on a prior $3.2 billion purchasing agreement between the two companies and will produce chips for use in…
By John McCrank and Elizabeth Howcroft NEW YORK/LONDON (Reuters) -The dollar eased on Monday, giving back some of the gains it made following Friday’s blockbuster U.S. jobs report, as investors looked ahead to Wednesday’s inflation data for more clues about the Federal Reserve’s next steps. U.S. job growth rose much more than expected in July,…
FORT WORTH, Texas (AP) — Derek Kerr might have the hardest job in the airline business. Kerr is the chief financial officer of American Airlines, and his task is to fix a balance sheet that has been battered by borrowing needed to survive the pandemic. American has the most debt among all U.S. airlines, more…
