(Reuters) – U.S. trucking firm Yellow is preparing to file for bankruptcy, the Wall Street Journal reported on Wednesday, as customers abandon the company amid a cash crunch and union negotiations. The company could seek bankruptcy court protection as soon as this week, though no decision has been made, the report said, citing people familiar…
(Reuters) – Brazil’s postal service Correios said on Wednesday it has signed an agreement with Singaporean shopping app Shopee to boost exports of Brazilian products to Southeast Asian markets. Shopee, owned by Southeast Asian tech giant Sea, signed a memorandum of understanding with Correios, along with the Brazilian Agency for the Promotion of Exports and…
By Akash Sriram and Max A. Cherney (Reuters) -Chip-making tools supplier Lam Research forecast quarterly revenue above Wall Street estimates, as semiconductor makers scramble to meet a surge in demand fueled by rising adoption of artificial intelligence (AI) technology. Lam shares rose about 2% in extended trading. Businesses across sectors have been racing to incorporate AI…
By Karolina Tagaris and Alexandros Avramidis VOLOS, Greece (Reuters) -Wildfires that have been supercharged by strong winds and temperatures exceeding 40 Celsius (104 Fahrenheit) killed two people in central Greece on Wednesday and forced a new wave of evacuations. In the last 24 hours alone, 61 wildfires erupted across Greece, the fire brigade said. Officials…
(Reuters) – Aerospace and defense company L3Harris Technologies on Wednesday said it was informed that the U.S. Federal Trade Commission would not block its $4.7 billion deal for Aerojet Rocketdyne. The company also raised its full-year forecasts for revenue and profit as the Ukraine war drives up demand for defense equipment. U.S. Senator Elizabeth Warren…
By Rajesh Kumar Singh and Tim Hepher CHICAGO/PARIS (Reuters) – Airline executives are fuming about the prospect of grounding planes and trimming flight capacity amid a busy summer travel season after fresh problems arose with some of RTX’s Pratt & Whitney engines. Pratt & Whitney’s latest snag, revealed on Tuesday, will impact at least 1,200…
(Reuters) – Western Union Co raised its annual profit forecast on Wednesday after an upbeat second quarter in which transactions jumped on strong growth consumer-to-consumer (C2C) service, sending its shares up about 4% after the bell. With markets rebounding across the globe and unemployment still low, the company saw a predominant jump in its C2C…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A sense of cautious optimism could be the tone across Asia early on Thursday as China’s markets cool down, investors welcome fairly balanced comments from Federal Reserve Chair Jerome Powell, and await the European Central…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt drugmaker Endo International said on Wednesday the federal government’s opposition to its bankruptcy sale threatened to undo nearly $600 million in settlements reached with states and people afflicted by the U.S. opioid crisis. Endo filed for bankruptcy in August 2022, seeking to address its $8 billion debt…
WASHINGTON (Reuters) -U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank’s staff no longer forecasts a U.S. recession, and “we do have a shot” for inflation to return to target without high levels of job losses. Powell told a news conference after the Fed’s latest interest-rate hike that there was “a lot…
