CHICAGO, Oct 30 (Reuters) – Alaska Air Group said on Friday it would cut about 200 non-contract jobs as soaring fuel prices and geopolitical challenges put significant financial pressure on its business. The airline could lose as much as $700 million this year if current conditions persist, its firs
By Marianna Parraga, Mircely Guanipa and Mariela Nava HOUSTON/MARACAIBO, Venezuela, Oct 30 (Reuters) – President Donald Trump called it the biggest oil deal in history: 17 Venezuelan oilfields holding some 64 billion barrels of reserves, handed to a single company. Delivering on it falls to North Am
Oct 30 (Reuters) – SpaceX President Gwynne Shotwell said in an X post on Friday that more than 2 million of the company’s shares will be distributed to eligible children through “Trump Accounts” in December. Here are some more details: • The initial gift of shares, currently being transferred to esc
By Lewis Krauskopf NEW YORK, Oct 30 (Reuters) – US midterm elections, a heavy slate of corporate earnings and the monthly jobs report will further test stock investors next week, after a series of setbacks for the market-leading AI trade. The latest AI turbulence stemmed from disappointing quarterly
By Lisa Baertlein LOS ANGELES, Oct 30 (Reuters) – The Los Angeles and Long Beach seaports employer group and ILWU Local 26 have agreed to extend their negotiating deadline from November 1 to November 5, averting the potential strike of 2% of port workers that could snarl cargo flows at the nation’s
By Jonathan Stempel NEW YORK, Oct 30 (Reuters) – Bank of America was sued by a fired financial adviser who accused the second-largest US bank of backing out of its commitment in a 2013 racial bias settlement not to require employees to arbitrate discrimination claims. In a complaint filed late Thurs
By Svea Herbst-Bayliss NEW YORK, Oct 30 (Reuters) – Vail Resorts won support on Friday from its largest investor as it faces increasing pressure from activist Oasis Management to make operational changes including the possible sale of some mountain assets. Ron Baron said in a statement his firm Baro
By Ann Saphir Oct 30 (Reuters) – The Federal Reserve needs to raise rates at least two more times to get inflation under control, Dallas Fed President Lorie Logan said on Friday, in some of the most explicit rate guidance offered by a US central banker since Fed Chairman Kevin Warsh took the helm in
By Amy-Jo Crowley and Manya Saini Oct 30 (Reuters) – US private equity CD&R is exploring a deal to take payments processor Global Payments private, according to a source familiar with the deal. The talks are at an early stage and may not materialize, the source said. Shares of Global Payments rose m
By Patturaja Murugaboopathy Oct 30 (Reuters) – The biggest US technology companies generated record amounts of cash in the first nine months of 2026, yet returned the smallest share of it to shareholders in at least 15 years as surging artificial intelligence spending squeezed share buybacks. The re
Oct 30 (Reuters) – Shares of FedEx Freight surged 14% in early trading on Friday, with analysts backing the trucking firm’s 2027 growth expectations after it forecast fourth-quarter profit above their estimates. The stock, listed on June 1 after the company’s spinoff from parent FedEx, is on track f
Oct 30 (Reuters) – General Dynamics raised its 2026 revenue and profit forecasts on Friday after reporting stronger-than-expected third-quarter results, helped by robust demand for Gulfstream business jets and submarine programs. Rising military spending amid ongoing wars and resilient demand for pr
ZURICH, Oct 30 (Reuters) – Syngenta on Friday reported lower sales and profit during the third quarter, as summer heatwaves in Europe hit demand for its crop protection products, and cash-strapped farmers became more cautious about buying new seeds and sprays. Higher fertiliser, fuel and energy cost
By Alexander Marrow LONDON, Oct 30 (Reuters) – This year’s early Halloween sales figures could give chocolate makers quite the fright. Cost-of-living pressures are a big challenge for chocolate makers Hershey and Mondelez, with data from market researcher NIQ showing US consumers are so far spending
By Lucia Mutikani WASHINGTON, Oct 30 (Reuters) – US labor costs increased moderately in the third quarter amid a slowdown in wage growth, suggesting that the labor market was unlikely to be an inflation risk. The economy is struggling with rising price pressures, mostly stemming from the ongoing US-
Oct 30 (Reuters) – Global equity funds saw substantial inflows in the week ended October 28, though at a slower pace, as a rebound in AI and chip stocks, led by South Korea’s SK Hynix after record quarterly profit, lifted demand for technology and Asian funds. Investors bought a net $10.19 billion i
Oct 30 (Reuters) – Shares of Reddit tumbled 23% in premarket trading on Friday after it warned Google’s growing use of AI in search was hurting referral traffic and could shrink its user base, offering fresh evidence of AI-driven disruption. Pinterest also fell 7.28% after forecasting fourth-quarter
By Christina Amann and Rachel More BERLIN, Oct 30 (Reuters) – Volkswagen is suspending development work on the all-electric Golf at its Wolfsburg headquarters, as sweeping cost cuts at the embattled automaker reach one of its flagship future models. “I know what the Golf means for Volkswagen and for
By Anhata Rooprai Oct 30 (Reuters) – Intel’s shares slumped 25% in premarket trading after the chipmaker forecast a bleak quarter and warned of persistent weakness in the personal computer market through at least the first half of 2027, sparking a selloff in global chip stocks. The decline puts the
By Anna Szymanski Oct 30 (Reuters) – Markets have long been stuck in a wait-and-see mode ahead of the US midterm elections, another potential round of fighting in Iran and the latest sweep of AI earnings. With answers now set to come on all these fronts, the next few weeks could be some of the most
By Ankur Banerjee and Rae Wee SINGAPORE, Oct 30 (Reuters) – Hackers stole $6.3 billion from Binance, the world’s biggest cryptocurrency exchange, in a record digital asset theft. Here’s what we know so far: WHAT HAPPENED? About $6.3 billion worth of cryptocurrencies were drained from wallets that Bi
By Sheila Dang HOUSTON, Oct 30 (Reuters) – US oil majors ExxonMobil and Chevron both beat analyst expectations for quarterly profit on Friday, as soaring refining margins increased earnings from their fuel-making businesses – which typically have smaller profits – to rival the upstream segments. The
By Doyinsola Oladipo NEW YORK, Oct 30 (Reuters) – US airlines are turning to artificial intelligence to help maximize revenue from airfares. Now startups are putting AI to work on the other side of the transaction, helping passengers automatically claw back savings when ticket prices fall. Companies
TOKYO/TAIPEI Oct 30 (Reuters) – Asian chip-supply-chain companies said on Friday AI-related demand remained strong while investor concerns persisted over whether the massive investments in AI infrastructure would generate adequate returns. Foxconn Chairman Young Liu told reporters at a company event
By Shashwat Chauhan and Tharuniyaa Lakshmi Oct 30 (Reuters) – The tech-heavy Nasdaq was set for steep losses at Friday’s open after Amazon’s aggressive AI spending plan and Intel’s cash burn warning intensified investor concerns about escalating costs of AI infrastructure buildout and the timeline f
TOKYO, Oct 30 (Reuters) – Panasonic Holdings raised its full-year operating profit forecast by 20% to 710 billion yen ($4.5 billion) on Friday, helped by a range of factors including stronger-than-expected AI-related demand. • The Japanese company lifted its group operating profit forecast for the y
Oct 30 (Reuters) – German sportswear maker Puma narrowed the guidance for its 2026 operating loss on Friday, with the midpoint of the range weakening slightly amid muted consumer demand. The company now expects an operating loss of €80 million to €130 million ($89 million to $145 million) in 2026, c
By Stephanie Kelly and Shadia Nasralla LONDON, Oct 30 (Reuters) – BP posted a record quarterly net profit on Friday, beating expectations as the Iran war boosted prices and refining margins, and said it would use the windfall to settle its remaining Deepwater Horizon liabilities. The company reporte
BERLIN, Oct 30 (Reuters) – United States President Donald Trump’s economic agenda has delivered robust growth and strong investment but failed to reduce the trade deficit, according to a study by the German Economic Institute IW seen by Reuters on Friday. Here are some key points from the report: •
By Leika Kihara Oct 30 (Reuters) – The Bank of Japan kept interest rates steady on Friday, but declared victory in a nearly 14-year battle to hit its price target and signalled vigilance against inflation risks, suggesting the next rate hike could be as soon as December. With underlying inflation ro
