By Paul Lienert and Nathan Gomes DETROIT (Reuters) -Ford Motor on Thursday withdrew its full-year results forecast due to “uncertainty” over the pending ratification of its deal with the United Auto Workers (UAW) union, and warned of continued pressure on electric vehicles, sending shares of the company down more than 4% after-hours. The union and…
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday said U.S. third quarter economic growth of nearly 5% was a good sign that the economy was headed for a soft landing, but could help keep longer-dated bond yields elevated. “It’s a good strong number and shows the economy is doing well,” Yellen…
By Seher Dareen (Reuters) -Newmont on Thursday missed Wall Street estimates for third-quarter profit as the world’s largest gold miner struggled with weak production stemming from a labor strike at its Mexico mine. The company was forced to suspend operations at the Penasquito mine in Mexico in June, but it reached a resolution with the…
LOS ANGELES (Reuters) -FedEx Corp on Wednesday said its U.S. Express deliveries could be delayed due to an overnight Federal Aviation Administration (FAA) information technology system outage that the regulatory agency said has been resolved. FedEx’s signature Express service uses planes to provide overnight deliveries. The company said shipments delayed due to the outage are…
By Aditya Soni and Krystal Hu (Reuters) -Alphabet shares slumped on Wednesday after its cloud unit’s growth fell to near a three-year low, paling in comparison to Microsoft’s relative success as the tech giants race to make money from generative artificial intelligence. Shares of Alphabet fell 9.6% on Wednesday, compared with a healthy 2.8% gain…
By Bhanvi Satija (Reuters) -Thermo Fisher Scientific on Wednesday signaled that a slump in demand from biotechs for its services used in making therapies and vaccines could extend into the next year, sending its shares tumbling more than 7% and weighing on the sector. Biotechs, hit by a funding crunch due to higher interest rates,…
BRUSSELS (Reuters) – The United States will roll over its suspension of tariffs on European Union steel and aluminium if the two sides need more time to agree on measures to address overcapacity and low-carbon production, the U.S. ambassador to the EU said on Wednesday. The United States suspended import tariffs of 25% on EU…
By David Shepardson and Joseph White (Reuters) -The United Auto Workers (UAW) union on Tuesday struck a General Motors assembly plant in Texas that builds the U.S. automaker’s profitable full-size sport utility vehicles in another significant expansion of the strike. By striking GM’s Arlington assembly plant, home to GM’s profitable Chevy Tahoe, Chevy Suburban, GMC…
By Dan Levine and Hyunjoo Jin (Reuters) – An attorney suing Tesla over a fatal accident cited an internal safety analysis conducted by the company that showed it knew about a steering malfunction in its Autopilot driver assistant feature about two years earlier. The disclosure came during closing arguments on Tuesday in a California state…
By Marc Jones LONDON (Reuters) -A milestone move by the European Central Bank toward launching a digital euro within a few years means the time has come for the newest incarnation of money to prove its worth. A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200…
