By Mike Stone WASHINGTON (Reuters) -U.S. President Joe Biden wants an 18% cut in the number of F-35 jets the Pentagon buys next year after Congress’ cap on the size of the upcoming defense budget compelled the administration to find savings, two sources familiar with the situation said. The Pentagon order for Lockheed Martin’s stealthy…
(Reuters) – Billionaire Nelson Peltz’s Trian Fund Management criticized Walt Disney’s investment plans, calling it a “spaghetti against the wall plan”, in a letter sent to the entertainment and media giant’s shareholders on Monday. The home of Mickey Mouse is in a proxy battle with Peltz who has pushed the company to cut costs, create…
By Samrhitha A (Reuters) -Uber Technologies shot to a record high on Wednesday after announcing its first-ever buyback of $7 billion worth of company shares after a strong recovery in ride-share revenue and healthy demand in its food delivery business. The company posted its first annual net profit last week since it went public in…
LONDON (Reuters) -The total value invested in bitcoin surpassed $1 trillion on Wednesday for the first time since November 2021 as inflows to U.S. spot bitcoin exchange traded funds continued to support prices. Bitcoin’s price reached $51,902 on Wednesday, its latest 25-month high and a rise of 4.7% on the day, taking the token’s market…
By Shivansh Tiwary and Rajesh Kumar Singh (Reuters) -Shares of JetBlue Airways surged on Tuesday after activist investor Carl Icahn said he took a stake of nearly 10% in the low-cost carrier. JetBlue’s shares were up 14.7% in late morning after Icahn said his company had been in discussion with the airline about possible board…
By Johann M Cherian, Ankika Biswas and Carolina Mandl (Reuters) -Wall Street’s main indexes tumbled on Tuesday after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving U.S. Treasury yields higher. The Dow Jones Industrial Average posted its biggest one-day percentage drop in nearly 11 months, after a Labor…
By Niket Nishant (Reuters) -New York Community Bancorp shares fell nearly 4% after inflation data on Tuesday on investor worries that delays to interest-rate cuts could worsen the bank’s woes from its exposure to stressed U.S. commercial real estate (CRE) sector. Consumer price index (CPI) increased 0.3% in January compared to the 0.2% that economists…
By Georgina McCartney Houston (Reuters) -Oil prices settled higher on Tuesday as geopolitical tensions continued in the Middle East and eastern Europe, but gains were curtailed as investors reined in expectations for the U.S. Federal Reserve interest rate cuts. Brent futures settled 77 cents higher or 0.94% at $82.77 a barrel at 2:30 p.m. EST…
(Reuters) -New York Community Bancorp shares gave up earlier gains to close with a small loss on Monday, though some analysts remain focused on confidence-building measures taken by the lender after a tumble in its stock. NYCB’s shares closed down 0.2% at $4.89, after rising by more than 7% earlier in the session. The bank…
By Michael S. Derby NEW YORK (Reuters) -Americans reported a fairly stable outlook for inflation at the start of the year, as medium-term expectations settled back to levels last seen before the coronavirus pandemic struck, amid notable declines in the projected rises for a number of key spending areas. The Federal Reserve Bank of New…
