By Nate Raymond (Reuters) – In the first ruling written by President Joe Biden’s appointee Justice Ketanji Brown Jackson, the U.S. Supreme Court on Tuesday sided with 30 states that argued that Delaware had no right keep hundreds of millions of dollars in uncashed MoneyGram checks for itself. The ruling authored by Jackson, who was…
By Ludwig Burger FRANKFURT (Reuters) -Bayer warned operating earnings would decline in 2023, adding to the challenges for its new CEO who will take the helm in June, as the agriculture and healthcare company is hit by higher costs and the reversal of last year’s price boost for its weedkillers. The downbeat outlook, which pushed…
By Uday Sampath Kumar (Reuters) -Target Corp on Tuesday forecast muted profit growth in 2023 and warned of the need for more discounts to woo shoppers cutting their discretionary spending due to surging inflation. The retailer’s discounting strategy powered its sales and profit in the holiday quarter to exceed market expectations for the first time…
By Pete Schroeder WASHINGTON (Reuters) -U.S. banks reported a 5.8% decline in profits in 2022 as firms spent more on noninterest items and provision expenses against future losses, the Federal Deposit Insurance Corporation reported Tuesday. Bank profits dropped 4.6% in the last quarter of 2022, but overall profits remain above average profits seen by the…
NEW YORK (Reuters) – Goldman Sachs Group Inc’s Chief Executive David Solomon and top executives will give investors an update on their strategy on Tuesday. Here are biographies of key leaders who will speak at the second investor day in the Wall Street firm’s 154-year history. The speaker biographies are based on company documents, statements…
By Uday Sampath Kumar (Reuters) -Target Corp posted a surprise rise in holiday-quarter sales on Tuesday on higher store visits from discount-hungry Americans, even as it joined other retailers to caution on 2023 earnings due to an uncertain U.S. economy. Shares rose 2% as the company beat quarterly profit estimates for the first time in…
OTTAWA (Reuters) – The Canadian economy recorded no growth in the final three months of 2022, massively underperforming expectations, though economic activity likely rebounded with a 0.3% increase in January, Statistics Canada data showed on Tuesday. The 0.0% growth reading in fourth-quarter gross domestic product capped five consecutive quarterly increases and missed analysts’ average forecast…
By Rae Wee and Alun John SINGAPORE/LONDON (Reuters) – The U.S. dollar steadied on Tuesday, having lost ground a day earlier, climbing particularly against the Japanese yen, and on track for its first monthly gain since September. The greenback’s rally gathered momentum in recent weeks as upbeat economic data led to mounting expectations that the…
SHANGHAI (Reuters) – Tesla Inc’s electric vehicle (EV) sales in China rose last week but were still running short of the pace seen in the fourth quarter, indicating the bump from discounted prices in its biggest overseas market is waning. The U.S. automaker nearly doubled weekly retail sales in the week of Feb. 20 to…
BEIJING (Reuters) -The Chinese Communist Party said on Tuesday that the foundation of economic recovery is not yet solid and the unexpected may occur at any time, and it repeated the need for the country to be guided by the party with Xi Jinping at its “core”. China’s economy grew 3% last year – one…
