By Matt Tracy WASHINGTON (Reuters) – Banks are hoping to quicken the pace of offloading at least some of the billions of dollars of leveraged buyout debt stuck on their balance sheets since last year, on a renewed rally in U.S. junk bonds after Federal Reserve Chairman Jerome Powell’s more dovish-than-expected comments this week. Banks…
By Daniel Wiessner (Reuters) – A U.S. labor board has cleared the way for 86 technicians at Nissan Motor Co’s Smyrna, Tennessee plant to vote on whether to join a union, rejecting the automaker’s claim that the unit should include thousands of production workers. The Democrat-controlled National Labor Relations Board (NLRB) in a ruling on…
WASHINGTON (Reuters) – Southwest Airlines Chief Operating Officer Andrew Watterson will testify on Feb. 9 before the U.S. Senate Commerce Committee after a holiday meltdown forced the budget carrier to cancel thousands of flights. The hearing titled “Strengthening Airline Operations and Consumer Protections” will also include Southwest Airlines Pilots Association President Captain Casey Murray and…
By Shreyashi Sanyal and Johann M Cherian (Reuters) – Wall Street’s main indexes edged lower on Friday after data showed the economy added jobs at a rapid pace last month, feeding into fears that the Federal Reserve could keep interest rates higher for longer in its fight against inflation. The Labor Department’s nonfarm payrolls report…
WASHINGTON (Reuters) -Activision Blizzard has agreed to pay $35 million to settle allegations over the video game maker’s handling of workplace complaints and violations of whistleblower protection rules, U.S. financial regulators said on Friday. The Securities and Exchange Commission said the company knew employee retention issues were “a particularly important risk in its business” but…
By Karen Brettell NEW YORK (Reuters) – The dollar jumped on Friday after data showed that employers added significantly more jobs in January than economists expected, potentially giving the Federal Reserve more leeway to keep hiking interest rates. The Labor Department’s closely watched employment report showed that nonfarm payrolls surged by 517,000 jobs last month….
By Aditya Soni and Yuvraj Malik (Reuters) – Big Tech results reinforced concerns a boom in cloud services is easing, limiting a lucrative source of profit when a slowing economy has hit the companies’ other businesses and prompting a bet on artificial intelligence as the next growth driver. Earnings from Amazon.com Inc and Microsoft Corp…
(Reuters) – Regeneron Pharmaceuticals Inc reported an about 46% plunge in its fourth-quarter profit on Friday, hurt by a drop in U.S. sales of its blockbuster eye drug, Eylea, and drying up of its COVID-19 antibody cocktail sales. The company reported net income of $1.20 billion, or $10.50 per share, in the quarter ended Dec. 31,…
By Mimosa Spencer PARIS (Reuters) – French luxury goods group Kering said on Friday it was entering the cosmetics business, with the announcement that it has recruited seasoned Estee Lauder executive Raffaella Cornaggia to head the push into the new segment. “We are building this new area of expertise within our Group to ensure that…
VILNIUS/PRAGUE (Reuters) – The European Central Bank is likely to raise interest rates again in May after an already signalled hike in March, two policymakers said on Friday, with one arguing that the peak or “terminal” rate is at least starting to appear on the horizon. The ECB raised rates by a half a percentage…
