By Rajesh Kumar Singh, Abhijith Ganapavaram and David Shepardson (Reuters) -Boeing’s troubles with its 737 MAX jets are upending the aerospace industry’s 2024 plans, changing airlines’ fleet and expansion goals as U.S. regulators froze production of the best-selling jets. The Federal Aviation Administration ramped up scrutiny of Boeing after a frightening Jan. 5 incident when…
By Aditya Soni (Reuters) -Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world’s most valuable automaker and fueled investor concerns about soft demand and Chinese competition. Musk said on Wednesday that growth would be “notably lower”…
By Lewis Krauskopf NEW YORK (Reuters) – The U.S. stock market’s march to all-time highs is putting the spotlight on its large valuation premium over global equities, leading some investors to look abroad for outsize returns. The S&P 500 topped most key regional indexes in 2023 with a 24% gain, building on a decade of…
By Hannah Lang (Reuters) -PayPal is launching new artificial intelligence-driven products as well as a one-click checkout feature, the company said on Thursday as its chief executive tries to inject new life into the payments giant. It is the first major announcement under Alex Chriss, who joined PayPal in September, and the new products are…
By David Shepardson, Valerie Insinna and Tim Hepher WASHINGTON (Reuters) -The U.S. Federal Aviation Administration late on Wednesday tightened pressure on Boeing by barring the troubled planemaker from expanding production of its best-selling 737 MAX narrowbody planes, following “unacceptable” quality issues. The unprecedented decision looked set to deepen turmoil at Boeing even as the FAA…
By Noel Randewich and Johann M Cherian (Reuters) -The S&P 500 climbed to its fourth straight record high close on Wednesday, as Netflix surged following blowout quarterly results and a strong report from ASML fueled gains in chipmakers. Riding optimism about Wall Street’s most valuable companies, Microsoft hit an all-time high, lifting its market value…
By Sinéad Carew and Tom Wilson NEW YORK/LONDON (Reuters) -MSCI’s global equity index rose on Wednesday, hitting its highest level in almost two years, backed by positive earnings and economic data in both Europe and the United States as well as optimism China stimulus will support its stock markets. Treasury yields rebounded on Wednesday as…
By Scott DiSavino NEW YORK (Reuters) – Oil prices edged up about 1% on Wednesday on a bigger-than-expected U.S. crude storage withdrawal, a slump in U.S. crude output, Chinese economic stimulus, geopolitical tensions and a weaker dollar. Brent crude futures rose 49 cents, or 0.6%, to settle at $80.04 a barrel, while U.S. West Texas…
By Dawn Chmielewski (Reuters) -Netflix on Tuesday blew past Wall Street subscriber estimates in the fourth quarter, driven by a strong slate of shows that included the final season of the long-running royal drama “The Crown” and David Fincher’s original film, “The Killer.” The company reported it added 13.1 million subscribers in the December quarter,…
By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) -MSCI’S global equities index gained very slightly as investors digested a mixed crop of earnings reports and waited for key economic releases due later in the week while the yen fell after the Bank of Japan left monetary policy unchanged. While the dollar index climbed to…
