By Saeed Azhar and Mehnaz Yasmin NEW YORK (Reuters) -Bank of America shares on Tuesday fell more than 3% after its first-quarter profits shrank and the bank set aside more money to cover souring loans from consumers whose finances are worsening. U.S. lenders have cited resilient household finances as evidence that the economy remains on…
By Mike Stone (Reuters) -Lockheed Martin has won a $17 billion contract to develop the next generation of interceptors to defend the United States against an intercontinental ballistic missile attack, the U.S. Missile Defense Agency said on Monday. The interceptor program is aimed at defeating current ballistic missile threats and future technological advances from countries…
By Victoria Waldersee BERLIN (Reuters) -Tesla is laying off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs). “About every five years, we need to reorganize and streamline the company for the next…
By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom is being asked by EU antitrust regulators about changes to newly acquired cloud computing company VMware’s licensing conditions following complaints from a spate of EU business users and a trade group. The EU competition enforcer said it had sent requests for information to Broadcom to investigate…
By Jack Queen NEW YORK (Reuters) – When prospective New York City jurors gather for Donald Trump’s hush money criminal trial on Monday, it may be tough to find ones who don’t have an opinion about the brash businessman-turned-politician who began building his real estate empire in Manhattan decades ago. They will be questioned by…
By Federico Maccioni and Alun John DUBAI/LONDON (Reuters) -Gulf markets dropped slightly on Sunday, an early indication of investor reaction to Iran’s unprecedented attack on Israeli territory, as investors prepared for trading in most markets to resume Monday, with eyes particularly on oil. Activity could be choppy, since traders are also digesting last week’s global…
(Repeats with no changes to text) SHANGHAI (Reuters) -Chinese electric vehicle (EV) maker Nio’s founder called for openness in a rare speech in the United States, where politicians have been seeking to further restrict China’s access to the world’s second-largest auto market. William Li, speaking at an event at Harvard University on Saturday, said rapid…
By Daphne Psaledakis WASHINGTON (Reuters) -The United States on Sunday will announce an additional $100 million in aid to respond to the conflict in Sudan, according to a statement seen by Reuters, as Washington seeks to spur international response ahead of Monday’s anniversary of the war. U.S. Agency for International Development Administrator Samantha Power in…
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan’s central bank has repaid $1 billion in Eurobonds, it said on Saturday, a scheduled payment ahead of the South Asian nation seeking a long-term bailout from the International Monetary Fund. The bond, launched in 2014 and repaid on Friday, was maturing this month. “The payment was made to…
BEIJING (Reuters) – Floods, droughts, an earthquake and freezing conditions in China caused direct economic losses of 23.76 billion yuan ($3.28 billion) in the first quarter, the government said on Saturday. The emergency management ministry cited damage from several cold spells, a 7.1 magnitude earthquake in the northwestern region of Xinjiang, landslides in Yunnan province…
