WASHINGTON (Reuters) – United Auto Workers (UAW) President Shawn Fain said the Detroit-based union is not yet endorsing President Joe Biden for a second term, citing concerns about electric vehicle policies. Fain was in Washington last week and met with White House Chief of Staff Jeff Zients and many lawmakers. In a letter to members…
By Ananya Mariam Rajesh and Katherine Masters (Reuters) – Estee Lauder Cos Inc’s shares plunged on Wednesday after the cosmetics maker forecast weaker sales and profit for the year than previously estimated, blaming slow recovery at duty-free and travel destinations, especially in Asia. Global retailers have banked on improved demand out of Asia after China eased…
By Chris Prentice (Reuters) -Massachusetts’ highest court on Wednesday heard arguments on whether to revive a state fiduciary duty rule that was central to an enforcement action securities regulators filed against the online brokerage Robinhood. Lawyers for a Robinhood Markets Inc subsidiary and Massachusetts Secretary of State Bill Galvin argued before the state’s Supreme Judicial…
WASHINGTON (Reuters) -U.S. Senate Majority Leader Chuck Schumer on Wednesday said he was “hopeful” that fellow Democrat Dianne Feinstein, the chamber’s oldest member who has been absent since February while receiving treatment for shingles, can return next week. Feinstein, 89, has not cast a vote since mid-February, effectively reducing her party’s narrow majority in the…
By Fergal Smith TORONTO (Reuters) – Greater Toronto Area (GTA) home prices increased in April from March as new listings posted a steep annual decline, adding to evidence that the housing market has turned a corner after being buffeted by sharply higher borrowing costs. The average price of a GTA home rose to C$1.153 million…
By Gram Slattery and Tim Reid WASHINGTON (Reuters) – It is the one topic that everyone on Capitol Hill is talking about and yet hundreds of miles away, on the plains of Iowa and the hills of New Hampshire, none of the Republicans vying for the 2024 presidential nomination have even mentioned it. The U.S….
ROME (Reuters) – Italy’s state-controlled defence and aerospace group Leonardo on Wednesday posted lower first-quarter profits and earnings, but reported a jump in orders and confirmed financial targets for 2023. Net profit stood at 40 million euros ($44.2 million) compared to 72 million euros 12 months earlier, while earnings before interest, taxes and amortisation (EBITA)…
(This May 2 story has been refiled to say Marriott gets a ‘big portion,’ not ‘bulk’ of its revenue from outside the US, in paragraph 6) By Priyamvada C and Doyinsola Oladipo (Reuters) – Marriott International Inc reported better-than-expected first-quarter results on Tuesday as the U.S. hotel operator benefited from a global rise in occupancy…
By Shreyashi Sanyal (Reuters) -European shares climbed on Wednesday, a day after their biggest fall in a month, as speculation mounted the U.S. Federal Reserve might deliver its last interest rate hike, while energy stocks extended declines. The pan-European STOXX 600 index ended up 0.3%, after closing at its lowest level in one month on…
By Tiyashi Datta (Reuters) -Investors dumped shares of Advanced Micro Devices Inc on Wednesday after its earnings report indicated that it was struggling with a PC slump and had failed to gain market share from larger rival Intel Corp in the latest quarter. The stock fell nearly 9%, wiping out more than $12 billion from…
