Reuters USA

By Andy Home LONDON (Reuters) -Alumina prices have soared to record highs this week, compressing margins at the world’s aluminium smelters which convert the intermediate product into metal.  The London Metal Exchange (LME) cash price, indexed to Platts benchmark Australian alumina assessment, closed Wednesday at $633.35 per metric ton, lifting the ratio to the aluminium …

Shanghai frenzy fuels alumina’s record-breaking rally: Andy Home Read More »

By David Shepardson and Akash Sriram WASHINGTON (Reuters) -The U.S. auto safety regulator on Friday opened an investigation into 2.4 million Tesla vehicles equipped with the automaker’s Full Self-Driving (FSD) software after four reported collisions, including a 2023 fatal crash. The National Highway Traffic Safety Administration’s (NHTSA) preliminary evaluation is the first step before the …

US probes Tesla’s Full Self-Driving software in 2.4 million cars after fatal crash Read More »

By Lucia Mutikani WASHINGTON (Reuters) -U.S. single-family homebuilding surged to a five-month high in September, but permits for future construction rose only marginally amid excess supply of new homes on the market and prospective buyers holding out for lower mortgage rates. Despite the second straight monthly increase in single-family housing starts, economists expected that residential …

US single-family homebuilding hits five-month high, but trend remains soft Read More »

By Phil Stewart and Sabine Siebold BRUSSELS (Reuters) -The United States doubled down on Friday on calls for a ceasefire in Gaza and the release of hostages following the death of Hamas’ leader Yahya Sinwar, even as Israel and its enemies Hamas and Hezbollah vowed to keep fighting in Gaza and Lebanon. U.S. Defense Secretary …

Hamas leader’s death creates chance for ceasefire, US defense secretary says Read More »

By Niket Nishant and Pritam Biswas (Reuters) -American Express reported third-quarter profit above Wall Street estimates on Friday, benefiting from disciplined expense management that helped cushion a blow from softer spending. Affluent customers have allowed the company to maintain relatively smaller provisions for credit losses compared with peers that serve a broader spectrum of customers, …

AmEx profit beats as expense discipline offsets spending slowdown Read More »

(Reuters) -Gilead Sciences said on Friday it was voluntarily withdrawing its drug, Trodelvy, for patients with a type of bladder cancer after it failed to meet the main goal in a confirmatory trial. The decision was made in consultation with the U.S. health regulator, the company said. The U.S. Food and Drug Administration had granted …

Gilead withdraws bladder cancer drug in US after failed trial Read More »

TOKYO (Reuters) -The board of Japan’s Fuji Soft will continue to support the first stage of a 558.4 billion yen ($3.72 billion) buyout offer from KKR, it said on Friday, despite having received a higher counter-offer from Bain Capital. The IT company backed an 8,800 yen per share offer from KKR in August, but last …

Fuji Soft board backs first stage of KKR’s buyout offer Read More »

(Reuters) -Netflix shares hit an all-time high on Friday, buoyed by investor optimism that its robust content lineup will help the streaming giant maintain upbeat subscriber growth even as the boost from its password-sharing crackdown wanes. The company, widely seen as the winner of Hollywood’s streaming wars, saw its stock rise nearly 10% and was …

Netflix hits record high as strong subscriber additions ease growth worries Read More »

(Reuters) – U.S. investors made large investments in equity funds in the week to Oct. 16, buoyed by strong third-quarter earnings from U.S. lenders and optimism over a potential Federal Reserve rate cut in November and signs of cooling inflation. According to LSEG data, U.S. equity funds drew a sharp $20.08 billion in net purchases …

US equity funds draw big inflows on bank earnings, rate cut hopes Read More »