Business

Activist TOMS Capital pushes US shale producer Devon to quicken asset sales or sell itself, sources say

Wednesday, June 17 by SRN News

By David French and Svea Herbst-Bayliss NEW YORK, June 17 (Reuters) - Activist investor TOMS Capital Investment Management has acquired a sizable stake in Devon Energy and is pressing the U.S. shale operator to sell assets or put itself up for sale, five people familiar... Read More.

Diageo new CEO tells executives to cut jobs and costs, FT reports

Wednesday, June 17 by SRN News

June 17 (Reuters) - Johnnie Walker maker Diageo's new boss, Dave Lewis, has asked executives to cut headcount and other costs as he begins restructuring the struggling spirits group, the Financial Times reported on Wednesday. Lewis, nicknamed "Drastic Dave" for aggressive cost cuts at Tesco... Read More.

Trading Day: US stocks end lower, dollar jumps as Federal Reserve kicks off Warsh era

Wednesday, June 17 by SRN News

By Stephen Culp NEW YORK, June 17 (Reuters) - Wall Street stocks turned sharply lower on Thursday, the dollar extended its gains and Treasury yields crept higher after the U.S. Federal Reserve left its key interest rate unchanged and signaled, amid elevated inflation and solid... Read More.

US stocks sink on worries about a possible hike to interest rates this year by the Federal Reserve

Wednesday, June 17 by SRN News

NEW YORK (AP) - U.S. stocks slumped Wednesday on speculation the Federal Reserve may hike interest rates this year to keep a lid on inflation. Higher rates can tap the brakes on accelerating prices at cash registers, but they also slow the... Read More.

Exclusive-VW investor Qatar complicates plant deal talks with Israeli arms maker, sources say

Wednesday, June 17 by SRN News

By Christina Amann and Andreas Rinke BERLIN, June 17 (Reuters) - Volkswagen's plans for a deal with Israeli arms maker Rafael to use its struggling Osnabrueck plant are being complicated by Qatar's sovereign wealth fund, the German carmaker's third-largest investor, three people familiar with the... Read More.

Nippon Steel sees strong American market lifting US Steel earnings

Wednesday, June 17 by SRN News

By Yuka Obayashi and Kentaro Okasaka TOKYO, June 18 (Reuters) - Nippon Steel, the world's No. 3 steelmaker, expects the American market to remain buoyant, supported by import tariffs and resilient demand, which could lift earnings at U.S. Steel beyond current forecasts, Vice Chairman... Read More.

Exclusive-Aramco, seeking tens of billions of dollars, lines up more asset sales, sources say

Wednesday, June 17 by SRN News

By Hadeel Al Sayegh, Federico Maccioni and Yousef Saba DUBAI, June 17 - Saudi Aramco is considering the sale of a stake in its sulphur business, three sources with knowledge of the matter told Reuters, extending a strategy of tapping its infrastructure assets to raise... Read More.

Nearly half of Fed policymakers see a 2026 rate hike in the cards

Wednesday, June 17 by SRN News

By Ann Saphir June 17 (Reuters) - Nearly half of Federal Reserve policymakers have lost faith that merely holding borrowing costs steady will be enough to bring inflation back down to their 2% target in the face of the oil price surge after the Iran... Read More.

Fed holds steady in Warsh’s debut; analysts see hawkish shift

Wednesday, June 17 by SRN News

NEW YORK, June 17 (Reuters) - The Federal Reserve held the benchmark interest rate steady on Wednesday and policymakers expect rising borrowing costs later this year, reflecting growing concerns about inflation above the U.S. central bank's 2% target. New quarterly projections showed nine Fed... Read More.

US tells states to deal with unemployment fraud – or face penalties

Wednesday, June 17 by SRN News

The U.S. Department of Labor told states Wednesday to take immediate action to combat fraud, waste and abuse in their unemployment insurance programs - and that they could have administrative funds withheld if they don't comply. The letters, which went to the governors of every... Read More.

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Activist TOMS Capital pushes US shale producer Devon to quicken asset sales or sell itself, sources say

Diageo new CEO tells executives to cut jobs and costs, FT reports

Trading Day: US stocks end lower, dollar jumps as Federal Reserve kicks off Warsh era

US stocks sink on worries about a possible hike to interest rates this year by the Federal Reserve

Exclusive-VW investor Qatar complicates plant deal talks with Israeli arms maker, sources say

Nippon Steel sees strong American market lifting US Steel earnings

Exclusive-Aramco, seeking tens of billions of dollars, lines up more asset sales, sources say

Nearly half of Fed policymakers see a 2026 rate hike in the cards

Fed holds steady in Warsh’s debut; analysts see hawkish shift

US tells states to deal with unemployment fraud – or face penalties

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