By Noel Randewich (Reuters) – The S&P 500 will trade near current record levels at year-end, according to a Reuters poll of market strategists that suggests the AI rally is losing steam as investors wait for a widely-expected U.S. central bank interest rate cut next month. The benchmark S&P 500 will end 2024 at 5,600 […]
Biden approved secret nuclear strategy focusing on Chinese threat, New York Times reports
WASHINGTON (Reuters) – U.S. President Joe Biden approved in March a highly classified nuclear strategic plan that for the first time reorients Washington’s deterrent strategy on China’s expansion of its nuclear arsenal, the New York Times reported on Tuesday. The White House never announced that Biden had approved the revised strategy, titled the “Nuclear Employment […]
Lendlease reports $1 billion loss amid strategy shift, regulatory delays
By Rishav Chatterjee (Reuters) -Australia’s Lendlease on Monday reported a wider annual loss as the real estate developer grappled with the impact of an operational strategy shift and delays in reviewing the sale of community projects. Lendlease, the country’s largest property developer, builder and real estate investor, is looking to retreat from its overseas construction […]
Hedge funds sell planes, trains, automobiles; buy energy stocks, says Goldman
By Nell Mackenzie LONDON (Reuters) – Hedge funds sold industrial stocks at the fastest pace since December, while buying energy stocks for the fourth straight week last week, a Goldman Sachs note seen by Reuters on Monday showed. Hedge funds last week sold industrial stocks at some of the highest levels seen in five years, […]
Estee Lauder’s long-time CEO Fabrizio Freda to retire
(Reuters) – Estee Lauder said on Monday its long-time CEO Fabrizio Freda had decided to retire from the cosmetic giant next year. Shares of the MAC lipstick maker were up 1% in premarket trading. Freda joined Estee in 2008 as president and chief operating officer and was later named the MAC lipstick maker’s CEO. Estee […]
GM lays off over 1,000 salaried software, services employees
By David Shepardson (Reuters) -General Motors said Monday it is laying off more than 1,000 salaried employees at its software and service units worldwide. GM, confirming the layoffs initially reported by CNBC, said in a statement that “as we build GM’s future, we must simplify for speed and excellence, make bold choices, and prioritize the […]
Israeli strike kills at least 17 Palestinians in central Gaza, health officials say
By Nidal al-Mughrabi, Ramadan Abed and Jaidaa Ahmad CAIRO/GAZA (Reuters) – At least 17 Palestinians were killed and dozens wounded in an Israeli strike in the central Gaza town of Zawayda on Saturday, health officials said, as Israel issued new evacuation orders, citing Hamas rocket fire nearby. Israel also announced the names of two soldiers […]
Blinken to push for Gaza ceasefire; Israel launches fresh strikes
By Nidal al-Mughrabi CAIRO (Reuters) – Israeli strikes killed 19 people in Gaza on Sunday, including six children, Palestinian health authorities said, ahead of a visit to the region by U.S. Secretary of State Antony Blinken to try to push forward ceasefire talks. The children and their mother were killed in an Israeli airstrike on […]
Harris campaigns in swing state Pennsylvania en route to Chicago convention
WASHINGTON (Reuters) – U.S. Vice President Kamala Harris brings her presidential campaign to the critical state of Pennsylvania on Sunday before heading on to Chicago, where the Democratic Party this week is due to nominate her to take on Donald Trump in the Nov. 5 election. Opinion polls have shown Harris bringing fresh energy to […]
Suggestions Poland helped Nord Stream sabotage are groundless, says presidential aide
WARSAW (Reuters) – Suggestions that Ukrainian authorities supported by Poland were behind planning and executing the sabotage attack on Nord Stream gas pipelines in 2022 are groundless, the Polish president’s aide said on Sunday. Germany’s former intelligence chief August Hanning told Die Welt this week he believed there were agreements between presidents of Poland and […]