Business

AIG keeps private credit in check to shield portfolio from industry jitters; shares rise

Friday, May 1 by SRN News

By Pritam Biswas May 1 (Reuters) - AIG has pared back its private credit activity amid current market conditions, the insurer's finance chief said on Friday, helping reassure investors and pushing its shares up about 5% in early trading. Elevated default rates have put big asset... Read More.

BYD’s sales downturn extends to eighth straight month

Friday, May 1 by SRN News

SHANGHAI, May 1 (Reuters) - Chinese EV giant BYD's vehicle sales fell for an eighth straight month in April, down 15.5% from a year earlier and extending its longest-ever downturn as it struggles with weak demand at home. Overseas sales of passenger vehicles and pickup... Read More.

Kashkari: Uncertainty around oil shock means Fed should acknowledge risk of rate hikes

Friday, May 1 by SRN News

By Howard Schneider WASHINGTON, May 1 (Reuters) - The U.S.-backed war with Iran could change the inflation outlook enough to force the Federal Reserve into "potentially a series" of rate hikes to defend the central bank's 2% inflation target, Minneapolis Fed president Neel Kashkari said... Read More.

Lazard’s profit surges on asset management inflows amid market volatility

Friday, May 1 by SRN News

May 1 (Reuters) - Investment bank Lazard reported a 67% jump in first-quarter profit on Friday, as resilient client demand boosted its asset management business during a period of heightened market volatility. Market swings, driven by tensions between major powers and uncertainty around interest rates... Read More.

Estee Lauder plans to cut up to 3,000 more jobs, lifts annual profit forecast

Friday, May 1 by SRN News

By Anuja Bharat Mistry May 1 (Reuters) - Estee Lauder on Friday raised its annual profit forecast and laid out plans to cut up to 3,000 more jobs globally as it accelerates a broader restructuring, sending its shares up about 11% in premarket trading. The Clinique... Read More.

Occidental names veteran Richard Jackson as CEO, Vicki Hollub to retire

Friday, May 1 by SRN News

May 1 (Reuters) - Occidental Petroleum said on Friday its chief operating officer Richard Jackson will take over as CEO after current top boss Vicki Hollub retires, effective June 1. Reuters in March reported that she was preparing to retire as CEO of the oil... Read More.

Superdry cofounder James Holder convicted of rape after a night of drinking

Friday, May 1 by SRN News

LONDON (AP) - The cofounder of the fashion brand Superdry was convicted Friday of rape after a night of drinking. James Holder, 54, was found guilty by a jury in Gloucester Crown Court of one count of rape but acquitted of a separate charge of... Read More.

Profit for the biggest US oil companies declined in the first quarter, but only on paper

Friday, May 1 by SRN News

Profit for the two largest oil companies in the U.S. tumbled during the first quarter, a three-month period in which the price of crude and gasoline rocketed higher. It's a setback on paper only, however, the result of financial hedges that backfired after the... Read More.

OxyContin maker Purdue Pharma’s settlement, by the numbers

Friday, May 1 by SRN News

OxyContin maker Purdue Pharma is set to dissolve and be replaced with a new company operating in the public interest under the settlement of thousands of lawsuits that goes into effect Friday. It's among the largest in a series of settlements over the toll of... Read More.

Your climate impact doesn’t end when you die. More people are considering ‘greener’ death options

Friday, May 1 by SRN News

After Moira Cathleen Delaney was diagnosed with an aggressive form of intestinal cancer, her thoughts eventually turned to her eventual death and what she wanted done with her body. Delaney's love of gardening, birds and the forest inspired her decision to be transformed into... Read More.

Current Weather

AIG keeps private credit in check to shield portfolio from industry jitters; shares rise

BYD’s sales downturn extends to eighth straight month

Kashkari: Uncertainty around oil shock means Fed should acknowledge risk of rate hikes

Lazard’s profit surges on asset management inflows amid market volatility

Estee Lauder plans to cut up to 3,000 more jobs, lifts annual profit forecast

Occidental names veteran Richard Jackson as CEO, Vicki Hollub to retire

Superdry cofounder James Holder convicted of rape after a night of drinking

Profit for the biggest US oil companies declined in the first quarter, but only on paper

OxyContin maker Purdue Pharma’s settlement, by the numbers

Your climate impact doesn’t end when you die. More people are considering ‘greener’ death options

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