By Dietrich Knauth (Reuters) – Telecommunications and power contractor QualTek Services Inc filed for bankruptcy on Wednesday, armed with a restructuring deal that could slash $307 million of the company’s $625 million debt. QualTek filed for Chapter 11 protection in Houston, saying that increasing debt costs were beginning to cut into its operating budget, at…
(Reuters) -American Eagle Outfitters Inc cut its full-year revenue forecast on Wednesday, as apparel demand wavers due to still-high inflation, sending shares of the company down 15% after the bell. Higher rent and product prices in the United States dented consumer spending, hurting demand for discretionary items as cash-strapped shoppers focused on essentials such as…
By Herbert Lash NEW YORK (Reuters) -The dollar hit a fresh two-month high against a basket of peers on Wednesday, bolstered by recent signs of a resilient U.S. economy, while unease over U.S. debt ceiling talks kept investors moving to safe havens. The dollar is not seen posing an immediate risk, unlike certain Treasury securities,…
By Lawrence White and Koh Gui Qing LONDON/NEW YORK (Reuters) -World stocks dropped on Wednesday as U.S. debt ceiling talks dragged on without resolution, stoking a general malaise in markets that saw safe-haven assets such as the dollar hold around recent highs. But crude oil prices bucked the downtrend and kept rising, after a warning…
(Reuters) – First Solar Inc said on Wednesday it had filed a complaint against Toledo Solar in an Ohio district court over allegedly selling the company’s Asian-made panels as its own under “Made in the U.S.A” labels. The Arizona-based solar equipment maker said it was seeking an injunction to stop Toledo Solar from “falsely representing”…
(Reuters) – U.S. prosecutors are reviewing stock trading by some of First Republic Bank’s employees during the lender’s recent collapse, Bloomberg Law reported on Wednesday, citing people familiar with the matter. (Reporting by Manya Saini in Bengaluru; Editing by Anil D’Silva)
(Reuters) – U.S. prosecutors are reviewing stock trading by some of First Republic Bank’s employees during the lender’s recent collapse, Bloomberg Law reported on Wednesday, citing people familiar with the matter. (Reporting by Manya Saini in Bengaluru; Editing by Anil D’Silva)
By Nivedita Balu (Reuters) – Bank of Montreal and Bank of Nova Scotia on Wednesday missed quarterly profit estimates as they faced higher expenses and set aside more rainy-day funds, sending their stocks lower. The results come as investor confidence in the markets crumbles in the face of a relentless rate-hiking cycle and a U.S….
By Jacqueline Thomsen WASHINGTON (Reuters) -Jabari Wamble, U.S. President Joe Biden’s pick for a federal judgeship in Kansas, asked on Tuesday to have his nomination withdrawn from consideration in the Senate, a letter obtained by Reuters showed. He became the second Biden judicial nominee to drop out in as many weeks. Michael Delaney, a former…
By Davide Barbuscia NEW YORK (Reuters) – Rating agency Moody’s expects the U.S. government will continue to pay its debts on time, but public statements from lawmakers during the debt ceiling negotiations could prompt a change in its assessments of the U.S. credit outlook before a potential default, a senior analyst said. Investors use credit…
