(Reuters) – Aerospace and defense company L3Harris Technologies on Wednesday said it was informed that the U.S. Federal Trade Commission would not block its $4.7 billion deal for Aerojet Rocketdyne. The company also raised its full-year forecasts for revenue and profit as the Ukraine war drives up demand for defense equipment. U.S. Senator Elizabeth Warren…
By Rajesh Kumar Singh and Tim Hepher CHICAGO/PARIS (Reuters) – Airline executives are fuming about the prospect of grounding planes and trimming flight capacity amid a busy summer travel season after fresh problems arose with some of RTX’s Pratt & Whitney engines. Pratt & Whitney’s latest snag, revealed on Tuesday, will impact at least 1,200…
(Reuters) – Western Union Co raised its annual profit forecast on Wednesday after an upbeat second quarter in which transactions jumped on strong growth consumer-to-consumer (C2C) service, sending its shares up about 4% after the bell. With markets rebounding across the globe and unemployment still low, the company saw a predominant jump in its C2C…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A sense of cautious optimism could be the tone across Asia early on Thursday as China’s markets cool down, investors welcome fairly balanced comments from Federal Reserve Chair Jerome Powell, and await the European Central…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt drugmaker Endo International said on Wednesday the federal government’s opposition to its bankruptcy sale threatened to undo nearly $600 million in settlements reached with states and people afflicted by the U.S. opioid crisis. Endo filed for bankruptcy in August 2022, seeking to address its $8 billion debt…
WASHINGTON (Reuters) -U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank’s staff no longer forecasts a U.S. recession, and “we do have a shot” for inflation to return to target without high levels of job losses. Powell told a news conference after the Fed’s latest interest-rate hike that there was “a lot…
(Reuters) – Alphabet Inc’s Waymo is focusing on its ride-hailing service, Waymo One, while pushing back its efforts to develop commercial autonomous trucking technology, the self-driving unit said on Wednesday. Autonomous driving software has come under strong regulatory scrutiny at a time when investors are concerned about heavy investments in the technology amid protracted development…
BEIRUT (Reuters) – Lebanon’s longtime central bank governor Riad Salameh defended his record on Wednesday in a televised interview just days before he is set to leave office, denying he embezzled public funds and saying his policies benefited the economy. Salameh, whose 30-year tenure as governor has been stained by a deepening financial crisis and…
Welcome to today’s briefing, where we delve into the world of AI and its impact on the market. Please note that we are using Microsoft Corp (NASDAQ:MSFT) as an illustration to discuss the broader picture. Last year, The Arora Report was among the pioneers emphasizing the significance of new generative AI technology. We were ahead…
The market is abuzz with enthusiasm as Canopy Growth Corporation (NASDAQ:CGC) shares exhibit a strong upward trend on this eventful Wednesday. An interesting observation is that the stock seems to be closely influenced by the performance of Tilray Brands, Inc. (NASDAQ:TLRY). Tilray has recently released its fourth-quarter and fiscal year 2023 financial results, surpassing analysts’…
