By Saeed Azhar and Manya Saini NEW YORK (Reuters) -Bank of America’s second-quarter profit beat Wall Street estimates as it earned more from customers’ loan payments while investment banking and trading fared better than expected. The second-largest U.S. lender projected its net interest income (NII) would increase 8% this year after it rose 14% in…
By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines first officer Phil Anderson has turned down opportunities to be promoted to captain as he does not want the unpredictable schedule that comes with the bigger paycheck. Anderson is one of many who have passed on that promotion at United, and analysts and union officials said…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks advanced on Tuesday, partly boosted by a round of solid bank earnings which helped put the Dow on track for its longest streak of daily gains in more than two years. Morgan Stanley shares jumped 6.45%, their biggest one-day percentage climb since Nov. 9, 2020 after…
By Herbert Lash NEW YORK (Reuters) – The dollar rebounded off a 15-month low and global stock markets rose on Tuesday as upbeat earnings on Wall Street and retail sales pointing to a resilient U.S. economy sealed expectations that the Federal Reserve will hike interest rates next week. Bank of America posted a 20% surge…
(Reuters) -Johnson & Johnson sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block a program that gives the Medicare government health insurance plan the power to negotiate lower drug prices. The pharmaceutical industry says the drug price negotiation program under President Joe Biden’s signature Inflation Reduction Act law will curtail profits…
By Karen Brettell NEW YORK (Reuters) – The U.S. dollar rose from a 15-month low against a basket of currencies on Tuesday after core retail sales saw strong gains in June, as investors wait on the Federal Reserve’s interest rate decision next week. Headline U.S. retail sales rose less than expected in June, with a…
By Jonathan Stempel (Reuters) -U.S. regulators on Tuesday announced a nationwide crackdown to stop companies from inundating people with billions of unwanted and illegal robocalls and telemarketing calls. The crackdown, known as Operation Stop Scam Calls, involves the U.S. Federal Trade Commission (FTC) and 101 other federal and state law enforcement authorities, including the attorneys…
SEOUL (Reuters) – A U.S. national was probably detained after crossing into North Korea on Tuesday during a tour in the “peace village” of Panmunjom, with its cluster of distinctive bright blue buildings and history of defections, tension and murder. Known formally as the Joint Security Area (JSA), in the heavily fortified Demilitarized Zone (DMZ),…
BEIJING (Reuters) -The United States should exercise sound strategic judgment in dealing with China, China’s defence minister Li Shangfu said while meeting veteran U.S. diplomat Henry Kissinger in Beijing on Tuesday. China has been committed to building stable, predictable and constructive Sino-U.S. relations, and hopes the United States can work with it to promote the…
By Blake Brittain (Reuters) – Yum Brands’ Taco Bell prevailed on Tuesday in its self-described bid to “liberate” the phrase “Taco Tuesday,” as competing fast-food chain Taco John’s told the U.S. Patent and Trademark Office (USPTO) it would abandon its federal “Taco Tuesday” trademark. Taco Bell had asked the USPTO in May to cancel the…