By Nilanjana Basu and Mike Stone -Aerospace and defense firm Raytheon Technologies Corp lowered its full-year revenue forecast on Tuesday, blaming the loss of sales to Russia due to Western sanctions imposed over the war in Ukraine. Shares in the U.S. company fell 2% in pre-market trading to $97.53. As a large number of U.S….
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer sentiment slumped to a six-month low in May on worries that political haggling over raising the federal government’s borrowing cap could trigger a recession. The University of Michigan’s survey on Friday also showed consumers’ long-term inflation expectations jumping this month to their highest reading since 2011, bad…
By Karen Freifeld and Jacqueline Thomsen (Reuters) – U.S. courthouse activity in Miami suggests that federal prosecutors might bring criminal charges against former President Donald Trump in his home state of Florida rather than in Washington. Special Counsel Jack Smith has convened grand juries in both places to hear evidence in his investigation into whether…
NEW YORK (AP) — Digital media company BuzzFeed is cutting 12% of its workforce, citing worsening economic conditions. The New York company, which made the announcement in a regulatory filing on Tuesday, did not disclose how many workers it was letting go. According to the data firm FactSet, BuzzFeed has 1,522 employees, which would mean…
By Ron Bousso LONDON (Reuters) – Shell boosted its dividend and share repurchases on Thursday after fourth quarter profits soared to $6.4 billion fueled by higher oil and gas prices and strong gas trading performance. Shell, which moved its headquarters from The Hague to London last month, said it expected to increase its dividend by…
BERLIN (Reuters) -Mercedes-Benz lifted its outlook on Friday for the annual adjusted return on sales of its vans division to 11%-13% from 9-11% previously, and said it expected to hit the higher end of its 12%-14% forecast for returns in the cars division. Overall, global growth was likely to remain subdued, but inflation was gradually…
(Corrects spelling of ‘conservative’ in paragraph 8) By Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia may not go through with a plan to take legal action against Facebook parent Meta Platforms following “positive” engagement with the firm on tackling harmful content on the social media platform, communications minister Fahmi Fadzil said in an interview on Friday….
WASHINGTON (Reuters) -The U.S. State Department on Wednesday announced a new visa restriction policy targeting foreign government officials and agents who assist fugitives in evading the U.S. justice system. The Fallon Smart policy is named after a 15-year-old who was killed in a hit-and-run incident in Oregon in 2016, U.S. Secretary of State Antony Blinken…
(Reuters) -Juul Labs Inc on Friday secured preliminary court approval of a $255 million settlement resolving claims by consumers that it deceptively marketed e-cigarettes, as the company seeks to resolve thousands of lawsuits. U.S. District Judge William Orrick in San Francisco said the proposed class action settlement resolving claims by consumers who said they overpaid…
TOKYO (Reuters) -Japan’s Panasonic Holdings Corp said on Monday it will start building a new battery plant in Kansas in November and aims to begin mass production by March 2025, targeting North America’s fast-growing market for electric vehicles. The conglomerate’s energy unit, which supplies batteries to Tesla Inc, said in July it had picked Kansas…
