Aug 28 (Reuters) – Virgin Australia said on Friday it expected to trim domestic capacity by 3% in line with rival Qantas Airways in the first half, supporting revenue growth, after reporting better-than-expected full-year earnings. Australia’s No. 2 airline reported underlying net profit after tax o
Aug 27 (Reuters) – The U.S. Federal Trade Commission has been investigating whether YouTube violated consumer protection laws by suspending users’ accounts and is in the final stages of preparing a potential lawsuit, Bloomberg News reported on Thursday, citing people familiar with the matter. The pr
By Juby Babu Aug 27 (Reuters) – Workday reported a nearly 13% rise in revenue on Thursday and said its AI solutions were seeing strong adoption and driving customer wins, easing investor fears of artificial intelligence disruption to its business. The finance and human resources software provider ha
By Arriana McLymore and Neil J Kanatt Aug 27 (Reuters) – Cosmetics retailer Ulta Beauty raised its annual sales and profit forecasts on Thursday, betting that marketing and product assortment investments would drive demand as it continues opening stores in the U.S. Net sales climbed 8.9% to $3 billi
By David Shepardson and David Lawder WASHINGTON, Aug 27 (Reuters) – Canada cannot accept a trade deal with the U.S. unless it ensures the survival of a robust Canadian auto assembly and parts industry, Canada’s ambassador to Washington said on Thursday, giving no indication when talks may resume. “W
By Doyinsola Oladipo and Rajesh Kumar Singh Aug 27 (Reuters) – Activist investor Carl Icahn has given up his board representation at JetBlue Airways after sharply reducing a stake in the airline that he once called an attractive investment opportunity. In 2024, JetBlue agreed to appoint two members
By Jody Godoy Aug 27 (Reuters) – A California judge on Thursday said he was likely to deny a bid to block Amazon from allegedly fixing prices by pressuring rivals to raise prices, in a setback for California Attorney General Rob Bonta’s case against the online retailer. • Bonta sued Amazon in 2022,
By Jamie McGeever ORLANDO, Florida, Aug 27 (Reuters) – Another bumper earnings report and outlook from chipmaking giant Nvidia boosted tech stocks on Thursday, which was enough to lift the benchmark U.S. indexes even though every other sector fell, as investors digested inflation warnings from sever
By Pete Schroeder Aug 27 (Reuters) – A pair of U.S. banking regulators announced on Thursday they had finalized rules that set formal definitions for “unsafe and unsound” practices by banks, giving examiners firm guidelines for how to police lenders. The Office of the Comptroller of the Currency and
Aug 27 (Reuters) – Apparel retailer Gap raised its annual profit forecast on Thursday, betting on sustained momentum at its namesake brand even as pressure at some of its other labels persists. Shares of the company, which also appointed insider Michael Francis as Old Navy’s new CEO as part of its t
SAN FRANCISCO, Aug 27 (Reuters) – Rivian CFO Claire McDonough has decided to leave the company to join GE Vernova in the same role, just as the electric vehicle maker ramps up rollout of its more affordable SUVs amid fragile EV demand in the U.S. McDonough will join GE Vernova later this year and ta
Aug 27 (Reuters) – Rupert Murdoch’s longstanding wish to reunite his Fox Corp and News Corp could happen in a potential merger that would unite a TV company with a widespread news operation, cementing the family’s control over a smaller empire, court documents and video show. Discussions of a possib
By Caroline Valetkevitch NEW YORK, Aug 27 (Reuters) – Shares of Build-A-Bear Workshop plunged 27.3% on Thursday in their biggest daily percentage drop ever after the retailer of customized stuffed animals reduced its revenue outlook for the second time this year and fired its chief growth officer. T
By Howard Schneider JACKSON HOLE, Wyoming, Aug 27 (Reuters) – The latest U.S. inflation report was “mixed,” with the headline rate stronger than expected but driven higher by a patchwork of forces that on their own shouldn’t push the U.S. central bank towards raising interest rates, Boston Federal R
Aug 27 (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said Thursday the U.S. central bank is unlikely to get price pressures back to target even by next year, in an interview that also saw her reiterate her belief a rate hike is needed to quell high inflation. “My forecast is t
By Raphael Satter WASHINGTON, Aug 27 (Reuters) – Major tech companies including OpenAI, Anthropic, Microsoft, Alphabet, and Amazon are calling for a society-wide defensive surge to defeat what they describe as an impending wave of hacks driven by artificial intelligence. In a joint letter issued Thu
BEIRUT (AP) — Iran’s economy, already strained by high inflation, years of Western sanctions and a war that has sharply reduced oil revenue, is poised for more instability as the Trump administration tries to coerce other countries into ending all financial dealings with the Islamic Republic. A deci
ABUJA, Nigeria (AP) — Kidnappers in Nigeria collected more than $5 million in ransom payments over the last year, a Lagos-based intelligence group said Thursday, as the country faces a multifaceted security crisis. “For every ransom that is paid for a kidnapping incident, you are simply birthing ano
By Nivedita Balu and Arasu Kannagi Basil Aug 27 (Reuters) – Royal Bank of Canada, TD Bank and CIBC beat quarterly profit estimates on Thursday as the Canadian lenders largely benefited from strong earnings in their capital markets segments. The results wrap up the third-quarter earnings season for C
By Michael S. Derby Aug 27 (Reuters) – Federal Reserve officials shared on Thursday their ongoing concerns about the U.S. inflation landscape, as central bankers gathered in Jackson Hole, Wyoming for the Kansas City Fed’s closely watched annual economic symposium. Inflation is “still stubborn and it
SEOUL, South Korea (AP) — A South Korean police officer’s alleged falsification of documents in two missing person cases has exposed gaps in police oversight and fueled public distrust of police. Those two missing people — and two others — were found dead on South Korea’s most popular resort island,
By Kenrick Cai and Heekyong Yang WEST LAFAYETTE, Indiana, Aug 27 (Reuters) – South Korean chipmaker SK Hynix on Thursday held a groundbreaking ceremony for an advanced packaging and research facility in Indiana worth more than $4 billion, expanding its U.S. footprint to meet growing demand for memor
Aug 27 (Reuters) – Wall Street’s main indexes opened higher on Thursday, boosted by gains in technology stocks after chip giant Nvidia’s blockbuster forecast renewed investor confidence in the AI trade. The Dow Jones Industrial Average rose 149.8 points, or 0.28%, to 53,613.66 at the open. The S&P 5
ZANZIBAR, Tanzania (AP) — Tanzania’s governing party expelled the vice president who resigned this week, in an act of retaliation that will further test the credentials of the East African nation as a place of relative peace and stability. A meeting of the Chama cha Mapinduzi, or CCM, party decided
By Feras Dalatey DAMASCUS, Aug 27 (Reuters) – Visa and Mastercard carried out their first international card transactions in Syria on Wednesday, a major step in reconnecting the country with global payment networks days after Washington removed it from its state sponsors of terrorism list. The near-
By Fabian Cambero and Lucila Sigal SANTIAGO/BUENOS AIRES, Aug 27 (Reuters) – Argentina and Chile are seeking to unlock billions of dollars in mining investment by advancing legal and regulatory frameworks that would allow companies to share infrastructure and resources across the Andes Mountains. Of
By Angela Christy M Aug 27 (Reuters) – Best Buy raised its full-year forecasts on Thursday on expectations of AI-driven device upgrades and advertising growth, but its shares fell 4.5% as investors looked past a tariff-refund boost and booked profits after a recent rally. The top U.S. electronics re
BEIJING, Aug 27 (Reuters) – Chinese regulators on Thursday ordered automakers to file proactive recall plans for any defects uncovered in self-audits, as part of a year-long campaign to improve vehicle quality and safety in the world’s largest auto market. Tesla and eight Chinese electric vehicle ma
Aug 27 (Reuters) – Hormel Foods cut its annual sales forecast on Thursday, weighed down by declines in the retail segment and weak demand for private-label snack nuts amid a pressured consumer environment. Consumer demand across the packaged-food industry has remained subdued, with broader inflation
(AP) – The approaching midterm elections are taking shape against the backdrop of a war with Iran that has lasted far longer than President Trump initially predicted. But while Democrats see rising fuel prices and the conflict’s economic effects as an opportunity, many Republican voters say the pres
