News
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CORRECTED-EXCLUSIVE-Ford kills project to develop Tesla-like electronic brain
Ford abandons 'fully networked vehicle' project to build next-generation electrical architecture - sourcesProject was a priority for CEO Jim Farley and top deputy Doug Field, a former Apple and Tesla execGoals were to cut costs, boost quality and offer software-enabled subscription featuresP...Reuters
Thu, May 1
Mineral deal with US fuels rally in Ukraine's international debt
Most debt enjoys best day in two weeks on minerals deal Deal preserves Kyiv's EU ambitions, allows for other partnersDebt still sharply down from February peak hit on peace hopesBy Karin Strohecker and Libby George LONDON, May 1 (Reuters) - Ukraine's international debt rallied on Thursday...Reuters
Thu, May 1
CORRECTED-US private sector delegation heads to Greenland
By Valerie Volcovici WASHINGTON, April 30 (Reuters) - A U.S. private sector delegation, led by a former Trump administration official, is set to visit Greenland this week to explore investment opportunities in the Arctic island's vast natural resources.U.S. interest in Greenland, a self-gover...Reuters
Thu, May 1
Eli Lilly Reports Pre-Launch Inventories Capitalized As Of March 31, 2025 $601.4 Million, Primarily Related To Orforglipron - Filing
May 1 (Reuters) - Eli Lilly and Co LLY.N:ELI LILLY: PRE-LAUNCH INVENTORIES CAPITALIZED AS OF MARCH 31, 2025 $601.4 MILLION, PRIMARILY RELATED TO ORFORGLIPRONReuters
Thu, May 1
Pentagon to seek 'Right to Repair' provisions in Army contracts
By Jody Godoy and Mike Stone WASHINGTON, May 1 (Reuters) - The U.S. Department of Defense wants new and existing defense contracts to give the Army the right to repair its own weapons, in a bid to save money and time by ending requirements to use original manufacturers for servicing.The move intr...Reuters
Thu, May 1
Allstate buys $1.5 billion of additional cat limit on $9.5 billion tower
By David BullMay 1 - (The Insurer) - Allstate has secured an additional $1.5 billion of limit on its nationwide excess catastrophe reinsurance program, increasing the exhaustion point of the tower from just under $8 billion on the expiring structure to $9.5 billion.The U.S. insurer said that on a ri...Reuters
Thu, May 1
Biogen's results beat estimates on strength in rare disease drugs
By Mariam Sunny and Christy SanthoshMay 1 (Reuters) - Biogen BIIB.O beat first-quarter profit and revenue expectations on Thursday, as strong demand for its rare disease drugs helped offset declining sales of its multiple sclerosis medicines.The drugmaker has focused on deals, cost-cutting measures ...Reuters
Thu, May 1
US judge approves NCAA baseball coaches’ $49 million settlement
By Mike Scarcella May 1 (Reuters) - A U.S. judge has granted preliminary approval to the National Collegiate Athletic Association's $49.3 million settlement with volunteer baseball coaches who said they were owed compensation for years of unpaid work.In a ruling on Wednesday, U.S. District Ju...Reuters
Thu, May 1
EXPLAINER-What's next for Apple after US court's contempt order in Epic Games case?
By Mike Scarcella May 1 (Reuters) - Apple AAPL.O faces a possible criminal contempt probe after a U.S. judge said it violated an order to open its lucrative App Store to more competition and misled the court.Here is a look at how Apple got here and what comes next in the blockbuster lawsuit broug...Reuters
Thu, May 1
Bombardier's quarterly revenue rises 19% on delivery strength, higher services revenue
Bombardier reports $1.52 billion revenue, $68 million adjusted net income for Q1President and CEO Eric Martel sees growth opportunities in defense and afterservicesCompany projects over 150 jet deliveries in 2025Planemaker's financial gains fall short of investors' expectations By Dan Catch...Reuters
Thu, May 1
US Justice Department Says Raytheon Cos, Nightwing Group To Pay $8.4 Million To Resolve False Claims Act Allegations
May 1 (Reuters) - U.S. JUSTICE DEPARTMENT SAYS RAYTHEON COMPANIES AND NIGHTWING GROUP TO PAY $8.4 MILLION TO RESOLVE FALSE CLAIMS ACT ALLEGATIONS RELATING TO NON-COMPLIANCE WITH CYBERSECURITY REQUIREMENTS IN FEDERAL CONTRACTSSource text: https://tinyurl.com/45n66kwkReuters
Thu, May 1
EXCLUSIVE-Democratic lawmakers call for review of Musk's role in Golden Dome
By Marisa Taylor and Mike Stone WASHINGTON, May 1 (Reuters) - A group of 42 Democratic lawmakers has called for a review of Elon Musk's role in the bidding process for the "Golden Dome" missile defense shield, a project championed by President Donald Trump.In a letter dated May 1 and ...Reuters
Thu, May 1
ADVISORY-Alert on partnership wrongly tagged to Rain Industries Ltd withdrawn
An alert on partnership between global card issuing platform Rain and Visa V.N was incorrectly tagged to India-based chemical company Rain Industries Ltd RAID.NS, an unrelated firm, and has been withdrawn.There will be no substitute.STORY_NUMBER:nTUA1LGZG7STORY_DATE:01/05/2025STORY_TIME:12:00 GMTReuters
Thu, May 1
Everest did not renew 50% of casualty insurance premium up for renewal in Q1
By Michael LoneyMay 1 - (The Insurer) - Everest Group did not renew half of the casualty insurance premium up for renewal in the first quarter as its remediation of the business continued, while its casualty pro rata premium shrank almost 22% amid “unjustifiably sticky” ceding commissions.After mark...Reuters
Thu, May 1
Estimated S&P 500 Q1 profit growth jumps vs a wk ago; Q2 forecast falls further
NEW YORK, May 1 (Reuters) - Estimated earnings growth for S&P 500 companies .SPX for the first quarter of the year has jumped in the latest week, while the forecast for second-quarter earnings fell further, according to LSEG Thursday.Thanks in part to upbeat results from big tech-related names i...Reuters
Thu, May 1
Einhorn's Greenlight gains 3.4% in April, source says
By Carolina MandlNEW YORK, May 1 (Reuters) - David Einhorn's fund Greenlight Capital posted a 3.4% gain in April, a source familiar with the matter said, outperforming the S&P 500 index.The firm is up 11.9% for the year through April, this person added.Reuters
Thu, May 1
Trump cannot use Alien Enemies Act to deport Venezuelans, judge rules
NEW YORK, May 1 (Reuters) - President Donald Trump's administration exceeded the scope of the Alien Enemies Act in using it to deport some Venezuelan migrants, a federal judge in Texas said on Thursday in barring the administration from using the 18th-Century wartime law to speed up deportations...Reuters
Thu, May 1
Citi hires former US Trade Representative Robert Lighthizer as trade adviser
By Tatiana Bautzer and Niket Nishant May 1 (Reuters) - Citigroup C.N has hired former U.S. Trade Representative Robert Lighthizer as a senior adviser on global trade, the bank said in a statement. "Given our global presence, having Ambassador Lighthizer's insights into the dynamics f...Reuters
Thu, May 1
