NEW YORK (AP) — Key financial regulators on Friday approved U.S. Bank’s $8 billion acquisition of Japanese financial titan MUFG’s Union Bank franchise, clearing big regulatory hurdles for a deal that will push U.S. Bank closer to the size of Wall Street’s mega banks. But in reaching those approvals, both the Office of the Comptroller…
WASHINGTON (AP) — The Defense Department has gotten a request from SpaceX and Tesla founder Elon Musk to take over funding for his satellite network that has provided crucial battlefield communications for Ukrainian military forces since almost the beginning of its war with Russia, U.S. officials said Friday. The officials, who spoke on condition of…
By Arriana McLymore and Siddharth Cavale NEW YORK (Reuters) – The $25-billion merger of Kroger and Albertsons could ultimately lead to lower prices for shoppers, at least according to a plan laid out Friday by Kroger’s CEO. In an interview with Reuters, Kroger Co CEO Rodney McMullen said the savings provided by the deal would…
WASHINGTON (Reuters) – U.S. business inventories increased a bit less than expected in August, but there are signs that unsold goods are piling up at retailers and wholesalers as stubbornly high inflation and rising interest rates slow demand. Business inventories rose 0.8% after climbing 0.5% in July, the Commerce Department said on Friday. Inventories are…
By Aishwarya Venugopal, Diane Bartz and Abigail Summerville (Reuters) -Kroger Co snapped up Albertsons Cos Inc in a $25 billion deal on Friday, creating a U.S. grocery behemoth to better compete with leader Walmart Inc on prices while bracing for potential antitrust roadblocks. The mega merger between the No. 1 and 2 standalone grocers in…
By Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s central bank is set to hold the benchmark interest rate steady at 75% after months of consecutive hikes, two sources said, with the entity’s directors hopeful that monthly inflation will gradually slow down in the remainder of the year. The bank had been mulling another potential hike after…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. retail sales were unexpectedly flat in September as households cut back on purchases of big-ticket items amid stubbornly high inflation and rapidly rising interest rates. But consumers are not rolling over yet, with the report from the Commerce Department on Friday also showing a measure of underlying retail sales…
By Johann M Cherian (Reuters) – Canada’s main stock index extended gains on Friday, tracking a rise on Wall Street after big bank earnings, while Russian President Vladimir Putin said there were no plans for a further military mobilization. At 09:43 a.m. ET, 01:44 p.m., the Toronto Stock Exchange’s S&P/TSX composite index was up 0.5%…
NEW YORK (AP) — The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things. Retail sales were flat last month, down from a revised 0.4% growth in August, the Commerce Department reported Friday. Retail sales fell 0.4%…
WASHINGTON (Reuters) – U.S. retail sales were unexpectedly unchanged in September as stubbornly high inflation and rapidly rising interest rates crimp demand for goods. The Commerce Department said on Friday that the unchanged reading in sales last month followed an upwardly revised 0.4% increase in August. Sales in August were previously reported to have gained…
