LOS ANGELES (Reuters) – The Pacific Maritime Association on Thursday said the largest longshore union local on the West Coast disrupted work at the nation’s busiest seaport complex for the second week in a row, as labor talks covering 22,000 dockworkers from California to Washington state approach the one-year mark. Frustration is growing over the…
(Reuters) – Contract drug manufacturer Catalent Inc on Friday warned that slow production at three of its facilities will impact its fiscal 2023 results and said CFO Thomas Castellano has stepped down, sending its shares down more than 20%. The company said it experienced “productivity issues” at its gene therapy manufacturing site in Harmans, Maryland…
By Timothy Gardner WASHINGTON (Reuters) -The Biden administration on Thursday approved exports of liquefied natural gas from the Alaska LNG project that one day could help the United States compete with Russia to ship natural gas from the Arctic to Asia. The Department of Energy approved Alaska Gasline Development Corp’s (AGDC) exports of LNG from…
By David Lawder WASHINGTON (Reuters) -European Commission Executive Vice President Valdis Dombrovskis said on Friday that the bloc wants to move quickly on a trade agreement with the United States for electric vehicle battery minerals and was optimistic on reaching a green steel and aluminum pact with Washington by October. Dombrovskis, the EU’s top trade…
(Reuters) -Florida Governor Ron DeSantis is expected to sign a bill on Friday allowing juries to recommend the death penalty in capital cases on an 8-4 vote, a move spurred by the less-than-unanimous vote that led to the Parkland school shooter being sentenced to life in prison. The state’s Republican-led House of Representatives approved the…
By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase & Co beat Wall Street’s estimates for quarterly profit and raised its outlook for interest income on Friday, emerging as one of the biggest winners of a flight to safety during last month’s banking crisis. The largest U.S. lender gained $50 billion in deposits at the…
By Jaiveer Shekhawat and Davide Barbuscia (Reuters) – BlackRock Inc expects dislocations created by a recent banking rout to present “enormous” opportunities to expand its business, as investors shift allocations to avoid abrupt market gyrations and profit from a higher interest rate environment. The world’s largest asset manager reported an 18% drop in first-quarter profit…
By Tatiana Bautzer and Mehnaz Yasmin (Reuters) – Citigroup Inc’s first-quarter profit beat Wall Street expectations as it earned more from borrowers paying higher interest on loans. While its net interest income rose 23% to $13.3 billion, Citi also set aside $241 million to cover potential loan losses, from $138 million a year earlier, according…
By Ross Kerber and Sarah N. Lynch DIGHTON, Massachusetts (Reuters) – The FBI on Thursday arrested Jack Douglas Teixeira, a 21-year-old member of the U.S. Air National Guard, over the leaks online of classified documents that embarrassed Washington with allies around the world. Federal agents in an armored car and military gear swooped in on…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big-ticket items, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates. With the labor market cooling, retail sales are…
