By Liz Hampton and Arunima Kumar (Reuters) – Oilfield firm Halliburton Co on Tuesday reported a first-quarter profit that topped Wall Street estimates as a tight services and equipment market has helped drive demand and improve its pricing. Global oil futures are currently trading above $80 a barrel, down about 20% from a year ago…
By Mike Stone and Pratyush Thakur WASHINGTON (Reuters) – Raytheon Technologies Corp reported a 4% rise in quarterly adjusted profit on Tuesday, as the aerospace and defense company saw strong Chinese demand for commercial aircraft spare parts and services. “The rebound in China was explosive,” chief financial officer Neil Mitchell said in an interview. “We…
By Jonathan Stempel (Reuters) – First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting an exodus of deposits. The lawsuit filed late Monday in San Francisco federal court accused First Republic and its auditor KPMG of misrepresenting…
(Reuters) – Truckmaker PACCAR Inc on Tuesday beat first-quarter profit and revenue estimates as demand for its truck models and aftermarket parts remained strong, boosted by customers looking to replace ageing fleets. Shares of the Bellevue, Washington-based company were up 1.65% at about $75 in premarket trading. The company benefited from a surge in ecommerce…
By Huw Jones LONDON (Reuters) – The long-delayed forum for European Union and British financial regulators won’t reopen the door for London’s financial centre to the bloc, EU lawmakers were told on Tuesday. The Windsor agreement on EU-UK arrangements for Northern Ireland will mean that the delayed UK-EU memorandum of understanding (MOU) for a regulatory…
By Noele Illien and Stefania Spezzati ZURICH (Reuters) – UBS said on Tuesday it had set aside more money to draw a line under its involvement in toxic U.S. mortgages, halving its first-quarter profit as the bank girds itself for the “hard” task of swallowing fallen rival Credit Suisse. Sergio Ermotti, brought back as UBS…
(Reuters) – Wealth manager Northern Trust Corp reported lower-than-expected first-quarter profit on Tuesday, as lower asset management fees dragged down gains from higher interest rates. The results come close on the heels of two of the biggest bank failures in U.S. history that dampened hopes of an economic recovery and shook global markets. Market volatility…
By Supantha Mukherjee STOCKHOLM (Reuters) -Spotify Technology SA has crossed the half billion mark for monthly active users for the first time, helped by the music streaming company’s expansion into more markets, it said on Tuesday, sending its shares up 5%. The number of monthly active users rose to 515 million in the first quarter,…
(Reuters) – U.S. homebuilder PulteGroup Inc on Tuesday beat Wall Street estimates for first-quarter profit and revenue as home prices stayed elevated amid limited supply. A shortage of homebuilding supplies had affected the availability of new homes, cushioning prices from the impact of sky-high interest rates that curbed the spending power of potential buyers. Still,…
(This April 24 story has been corrected to fix the spelling of a name to Mahmood, not Mahmoud, in section 4) By Naomi Rovnick, Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) – As calm returns to markets roiled by banking havoc in March, it’s time to reflect on the policy response. The International Monetary Fund…
