By John Revill ZURICH (Reuters) -Switzerland’s Holcim will spin off 100% of its North American operations in a New York flotation which could value the business at $30 billion, the building materials giant said on Sunday, as it also named a new chief executive. Miljan Gutovic, currently head of Europe at Holcim, will replace Jan…
(Reuters) -President Joe Biden’s administration is expected to award billions of dollars in subsidies in coming weeks to top semiconductor companies including Intel and Taiwan Semiconductor Manufacturing Co to help build new factories in the U.S., the Wall Street Journal reported on Saturday. The forthcoming announcements aim to kick-start manufacturing of advanced semiconductors that power…
By Joey Roulette WASHINGTON (Reuters) – (This Jan. 10 story has been corrected to clarify the payload capacities of SpaceX’s Falcon 9 and Falcon Heavy rockets in paragraph 12. A previous version erroneously stated that the two rockets have identical payload capacities) A Boeing-Lockheed joint venture’s launch of a new Vulcan rocket this week inaugurated…
By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) – Morgan Stanley’s asset management division aims to double its private credit portfolio to $50 billion in the medium term as it gathers funds from large investors to loan out to companies. The bank has invested more than $300 million into the business, which has already…
By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden on Friday marked International Holocaust Remembrance Day, warning against what he called an alarming rise in antisemitism after the Oct. 7 Hamas attacks on Israel and efforts to minimize what happened that day. Biden, who launched the first U.S. national strategy to counter antisemitism in…
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…
