By Michael S. Derby NEW YORK, Oct 28 (Reuters) – Federal Reserve Chairman Kevin Warsh on Wednesday said US central bank policymakers will start to weigh the recommendations of a task force studying balance sheet issues sometime in the new year. Members of the panel looking at how the central bank us
WASHINGTON, Oct 28 (Reuters) – Federal Reserve Chairman Kevin Warsh said on Wednesday that the US economy is not running too hot despite some demand pressures from the boom in AI investment, adding that the Fed’s goal “isn’t to throw sand in the gears” of the economy. Warsh told a news conference af
MEXICO CITY, Oct 28 (Reuters) – Mexico’s Becle, the world’s biggest tequila maker and owner of Jose Cuervo, reported a steep drop in third-quarter profit on Wednesday, missing market expectations as weaker demand, a stronger peso and a tougher selling environment weighed on results. Net profit plung
Oct 28 (Reuters) – FedEx said on Wednesday its quarterly operating margin in its core US express delivery segment slipped, even as it reported a bigger than expected profit, and its shares fell 1.6% in extended trading. The package delivery company said the margin dipped to 6.6% from 6.8% the year b
Oct 28 (Reuters) – Chipotle Mexican Grill reported better-than-expected comparable sales on Wednesday, as value deals, marketing efforts, and limited-time offerings helped drive more customers to the burrito chain. Shares of the company were up about 4% in extended trading. The company has also bene
By Sara Merken and Jonathan Stempel NEW YORK, Oct 28 (Reuters) – Weil, Gotshal & Manges plans to wind down its operations, its leadership told partners on Wednesday, capping a dizzying downfall for the nearly century-old law firm after it failed to stem an exodus of partners. “Following a careful re
(Company corrects upper end of prior FCF forecast range to “$1.5 billion” from “$1.4 billion” in paragraph 8) By Allison Lampert and Aatreyee Dasgupta Oct 28 (Reuters) – Honeywell Aerospace on Wednesday narrowed its free cash flow forecast for the back half of 2026 and beat estimates for third-quart
By Jody Godoy Oct 28 (Reuters) – The US Federal Trade Commission is demanding information from Walmart, Uber and seven other companies on whether and how they use consumers’ personal data such as location, browsing history and income to set individual prices, wages and job offers, a senior FTC offic
NEW YORK, Oct 28 (Reuters) – The Federal Reserve held interest rates steady on Wednesday, awaiting further data on the path of inflation, and said it would reduce its policy-meeting schedule starting next year. In a 10-2 decision, the US central bank said it would maintain its benchmark interest rat
By Nicole Jao NEW YORK, Oct 28 (Reuters) – Phillips 66 on Wednesday reported a record quarterly profit, topping Wall Street estimates, powered by higher refining margins on fuel supply disruptions due to the wars in Iran and Ukraine. US fuelmakers benefited from historically wide refining margins as
By Howard Schneider and Ann Saphir WASHINGTON, Oct 28 (Reuters) – The Federal Reserve held interest rates steady on Wednesday, as expected, opting to delay any changes to borrowing costs until after next week’s US midterm elections while it awaits further data on inflation, which the central bank sa
By Nandan Mandayam and Doyinsola Oladipo Oct 28 (Reuters) – Frontier Airlines has a healthy balance between ticket prices and passenger volume, its chief executive said on Wednesday, after the airline posted a surprise profit on higher fares and forecast a smaller-than-expected quarterly loss. To of
By Gianluca Lo Nostro, Joanna Plucinska and Florence Loeve Oct 28 (Reuters) – Airbus maintained its full-year forecasts and production plans on Wednesday after reporting mixed third-quarter earnings, leaving investors focused on whether it can hit its annual aircraft-delivery target. The world’s lar
By Liz Hampton and Georgina McCartney DENVER, Oct 28 (Reuters) – US crude and distillate inventories fell due to higher demand, while gasoline stockpiles rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.9 million barrels to 410.6 million barrels in
(Adds full name and title of Mauricio Buffon in paragraph 9) By Maximilian Heath and Oliver Griffin BUENOS AIRES/SAO PAULO, Oct 28 (Reuters) – Brazil’s soybean industry fears the European Union’s new anti-deforestation regulations (EUDR) could curb soymeal exports to the bloc, creating an opening fo
Oct 28 (Reuters) – MGM Resorts International said on Wednesday it had amended its existing voting agreement with People Inc after the investor withdrew its previously announced proposal to acquire the casino operator. Media mogul Barry Diller’s People withdrew its more than $18 billion proposal in S
Oct 28 (Reuters) – The S&P 500 and the Nasdaq opened higher on Wednesday as memory-chip firms climbed after SK Hynix’s bumper results, while investors looked to upcoming key corporate earnings as the next test of AI trade, alongside the Federal Reserve’s rate decision. The Dow Jones Industrial Avera
By Andrea Shalal WASHINGTON, Oct 28 (Reuters) – Global commodity prices are set to surge 23% in 2026, the World Bank said on Wednesday, citing rising energy prices and disruptions to cargo shipping during the Middle East war, grain shipment problems in the Black Sea and high demand for safe-haven as
By Scott DiSavino Oct 28 (Reuters) – EQT’s acquisition of rival producer Range Resources this week marks the latest consolidation in the natural gas industry, as producers are scrambling to lock in supply to feed growing demand for liquefied natural gas exports and power demand. Canonsburg, Pennsylv
NEW YORK, Oct 28 (Reuters) – Bank of America plans to open 19 branches in Wisconsin by 2030, creating 130 jobs, it said on Wednesday, and is on course to open 50 branches a year across the US. * BofA also plans to open 10 branches in Birmingham, Alabama, from the first quarter of 2027, and expand in
By Karen Freifeld WASHINGTON, Oct 28 (Reuters) – The United States on Wednesday banned imports from three Chinese genomics companies over their alleged roles in enabling the forced labor of Uyghurs and other ethnic minorities in China’s Xinjiang region. BGI Genomics Co Ltd, MGI Tech Co Ltd and Shenz
By Anuja Bharat Mistry and Svea Herbst-Bayliss Oct 28 (Reuters) – Billionaire Nelson Peltz and several partners on Wednesday offered to buy burger chain Wendy’s for $1.4 billion, arguing that the struggling fast-food chain needs a turnaround that would be best achieved out of the public eye. Peltz’s
By Lucia Mutikani WASHINGTON, Oct 28 (Reuters) – The US trade deficit in goods unexpectedly widened in September as imports surged to a record high, driven by strong demand for capital goods linked to the AI infrastructure buildout, suggesting trade was a significant drag on economic growth in the t
By Hannah Lang Oct 28 (Reuters) – Cryptocurrency exchange Coinbase is adding Ripple’s stablecoin RLUSD to its platform, expanding its slate of dollar-backed crypto tokens. The move is a boost for blockchain payments company Ripple, which launched RLUSD in December 2024 to facilitate near-instant set
By Ariane Luthi, Tom Sims, Mateusz Rabiega and Jesús Aguado ZURICH/FRANKFURT/PARIS/MADRID, Oct 28 (Reuters) – European banks went some way to easing investor concerns about slowing earnings momentum on Wednesday as a string of lenders reported stronger-than-expected quarterly results, pushing back a
By Amir Orusov Oct 28 (Reuters) – Mercedes-Benz is preparing a broader strategy update for 2030 and beyond, with China to remain a central pillar of its long-term plans, CEO Ola Källenius said, even as the carmaker works to reduce its reliance on the market. The German premium automaker will provide
By Joanna Plucinska, Gianluca Lo Nostro and Julie Zhu LONDON/HONG KONG, Oct 28 (Reuters) – With jet fuel prices at roughly double their levels before the Iran war, airlines are growing increasingly reluctant to lock in future fuel costs through new hedges, warning instead of steep fare increases to
HOUSTON, Oct 28 (Reuters) – A US regulator proposed new rules on Wednesday to hasten liquefied natural gas projects and expand export capacity as part of the Trump administration’s larger push to speed up energy infrastructure development and cut costs for consumers. The US is the world’s largest LN
By Mike Dolan Oct 28 (Reuters) – Much of this week’s busy event calendar gets packed into the next 24 hours. The day ahead includes the Federal Reserve’s expected “hawkish hold”, a possible Bank of Canada rate hike, AI hyperscaler earnings from Microsoft and Alphabet after the bell, and even Britain
By Diana Novak Jones Oct 28 (Reuters) – Two teenage plaintiffs who say social media caused them to develop serious mental health problems will take Meta Platforms and Snap to trial in Los Angeles on Wednesday in the latest test of claims raised in thousands of US lawsuits over social media’s impact
