Category: Business
-
Spirit Airlines looking to refinance its debt, not considering restructuring -source
By Rajesh Kumar Singh (Reuters) -Spirit Airlines is looking at options to refinance its debt and is not considering restructuring, a person familiar with the matter told Reuters on Thursday. The company’s shares have been falling since Tuesday on investor concerns about its financial future after a U.S. judge blocked its $3.8 billion merger with…
-
Google to tweak search results to comply with EU tech rules
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet’s Google will tweak online search results to give comparison sites more prominence, the company said in a blogpost on Wednesday, as it outlined efforts to comply with new EU tech rules that could hit revenues for some companies. Under the European Union’s Digital Markets Act (DMA), which…
-
Trump-linked SPAC may raise up to $50 million via convertible notes, warrants
(Reuters) – Digital World Acquisition, the blank-check firm set to merge with former U.S. President Donald Trump’s media company, said in a filing it could raise up to $50 million by issuing convertible notes or warrants. Digital World’s shares fell 9.2% to $20.30 on Wednesday. A special purpose acquisition company, or SPAC, is a publicly…
-
Citigroup sees Fed’s first rate cut in June
(Reuters) -Citigroup pushed forward its forecast of the U.S. Federal Reserve’s 25 basis-point interest rate cut to June from July, citing the central bank’s dovish stance, falling inflation, and rising pressures from geopolitical risks. The brokerage said on Wednesday it expects 125 bps of total rate cuts in 2024, compared to its earlier forecast of…
-
Universal Music Group to lay off some employees
(Reuters) – Universal Music Group will lay off some employees in 2024, a company spokesperson said on Friday, making the world’s largest record label the latest to join a wave of layoffs this year. Universal Music Group (UMG) may cut hundreds of jobs in the first quarter, mostly in its recorded music division, Bloomberg News…
-
Morgan Stanley to pay $249 million to end block trading probe
By Chris Prentice and Jonathan Stempel NEW YORK (Reuters) -Morgan Stanley agreed to pay $249.4 million to end years-long criminal and civil investigations into its handling of large stock trades for customers, U.S. authorities said on Friday. The settlements with the Department of Justice and Securities and Exchange Commission resolve charges of deception, fraud and…
-
US FAA plans closer monitoring of 737 MAX 9 when it returns to flights
By David Shepardson WASHINGTON (Reuters) – The head of the Federal Aviation Administration told Reuters on Friday that the agency plans “closer monitoring” of the 737 MAX 9 after the plane returns to service following a mid-air cabin blowout. FAA Administrator Mike Whitaker said in a telephone interview it is “pretty clear” the Alaska Airlines…
-
US bitcoin ETFs see $4.6B in volume in first day of trading
By Hannah Lang, Suzanne McGee and Manya Saini (Reuters) – U.S.-listed bitcoin exchange-traded funds (ETFs) saw $4.6 billion worth of shares trade hands as of Thursday afternoon, according to LSEG data, as investors jumped into the landmark products approved by the U.S. securities regulator on Wednesday. The products mark a watershed moment for the cryptocurrency…
-
History shows strong 2023 could keep US stocks on path for 2024 gains
By Lewis Krauskopf NEW YORK (Reuters) -The U.S. stock market’s hefty gains in 2023 could provide a lift for equities next year, if history is any guide. The S&P 500 ended the year on Friday with an annual gain of just over 24%. The benchmark index also stood near its first record closing high in…
-
Wall Street ends slightly lower, capping blockbuster year
By Stephen Culp NEW YORK (Reuters) -U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead. The stock market has seen remarkable upward momentum in the closing months of the year, powering all three major indexes to…