By Raghav Mahobe and Ananya Mariam Rajesh (Reuters) – Kenvue, the former consumer health unit of Johnson & Johnson, forecast full-year profit above Wall Street estimates on Thursday, betting on resilient demand for its skincare and self-care products such as Neutrogena and Tylenol. Shares of the company still fell as much as 10% after J&J,…
By Timothy Gardner WASHINGTON (Reuters) -A group of nearly 150 environmental justice groups urged the Biden administration on Wednesday to abandon talks with global energy companies on standards for “certified” natural gas, a form of the fuel that producers market as climate friendly, but critics say undermines the transition from fossil fuels. The United States…
By Noel Randewich (Reuters) – China’s frail growth could weigh on companies with exposure to the world’s second-largest economy, including Apple, big chipmakers and luxury retailers as they report quarterly results in the next few weeks. Wall Street is bracing for a steep drop in second-quarter U.S. earnings, with profit margins expected to be hurt…
By Hannah Lang (Reuters) – The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country’s payment system by eventually allowing everyday Americans to send and receive funds in seconds, 24 hours a day, seven days a week, the central bank announced on Thursday. The “FedNow” service, which has been…
By Hadeel Al Sayegh DUBAI (Reuters) – Dubai’s Roads and Transport Authority (RTA) has invited investment banks to pitch for roles in the planned initial public offerings of its taxi and parking businesses, two sources with knowledge of the matter told Reuters. The RTA is targeting the first of the two potential public share sales,…
By Douglas Gillison (Reuters) – U.S. lenders hoping for easy merger approvals in the wake of the March banking crisis should instead expect tough scrutiny from regulators worried about financial stability, the director of the Consumer Financial Protection Bureau (CFPB) told Reuters. Rohit Chopra also said in an interview that the agency was pressing ahead…
(Reuters) -Goldman Sachs has brought back to its fold senior executive Tom Montag, adding him to its board as the Wall Street giant looks to regain lost ground after its ill-fated foray into consumer banking. Montag, who had previously co-headed Goldman’s securities division and held other senior roles in his 22 years at the firm,…
By Maggie Fick LONDON (Reuters) – Activist investor Elliott Investment has taken a stake in contract drugmaker Catalent, a source familiar with the matter told Reuters on Thursday. The Wall Street Journal reported on Wednesday that Elliott had built a significant stake in Catalent, a New Jersey headquartered, NYSE listed company that does outsourced drug…
(Reuters) – Flagstar Bank, a subsidiary of New York Community Bancorp, said on Thursday it has hired six private client banking teams from the now-defunct First Republic Bank. Three of the teams are based on the West Coast and three teams are based in New York City, the bank said in a statement. Flagstar Bank…
By Divya Chowdhury, Anisha Sircar and Lisa Pauline Mattackal MUMBAI (Reuters) – Japanese equities continue to look attractive to foreign and local investors, backed by a significant valuation discount to other developed markets, the continuation of loose monetary policy, and progress made by companies on corporate governance. “We think the land of the rising sun…
