Reuters USA

(Reuters) – Contract drug manufacturer Catalent Inc on Friday warned that slow production at three of its facilities will impact its fiscal 2023 results and said CFO Thomas Castellano has stepped down, sending its shares down more than 20%. The company said it experienced “productivity issues” at its gene therapy manufacturing site in Harmans, Maryland …

Catalent flags problems at its manufacturing plants; CFO departs Read More »

By Shristi Achar A (Reuters) – Canada’s main stock index rose on Friday, on course to gain for the fourth straight week, boosted by financials after upbeat U.S. big bank earnings, while a drop in gold prices drove down mining stocks. At 10:13 a.m. ET (1413 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was …

Toronto shares rise as financials gain on upbeat U.S. bank results Read More »

WASHINGTON (Reuters) – U.S. business inventories rose moderately in February, suggesting that inventory investment could subtract from economic growth in the first quarter. Business inventories increased 0.2% after falling 0.2% in January, the Commerce Department said on Friday. Economists polled by Reuters had expected inventories, a key component of gross domestic product, to rise 0.3%. …

US business inventories rise moderately in February Read More »

(Reuters) -Digital media conglomerate Starboard said on Friday it has bought Parler for an undisclosed sum and will temporarily shut down the social media app popular with U.S. conservatives to give itself time to roll out a revamped version of the platform. The move comes months after the collapse of a deal that would have …

Conglomerate Starboard buys Parler, to shut down social media app temporarily Read More »

WASHINGTON (Reuters) – U.S. consumer sentiment inched up in April, but households expected inflation to rise over the next 12 months. The University of Michigan’s preliminary April reading on the overall index of consumer sentiment came in at 63.5, up from 62.0 in the prior month. Economists polled by Reuters had forecast a preliminary reading …

US consumer sentiment edges up in April; short-term inflation expectations rise Read More »

(Reuters) – Florida’s Republican Governor Ron DeSantis has signed a bill into law that bans most abortions after six weeks, setting the stage for abortion access to be drastically curtailed in the state and across the U.S. South. DeSantis signed the legislation late on Thursday night after lawmakers in the state’s Republican-led House of Representatives …

Florida Governor Desantis signs 6-week abortion ban law Read More »

(Corrects month in second paragraph to February from January) WASHINGTON (Reuters) – Production at U.S. factories fell more than expected in March, but eked out a modest gain in the first quarter. Manufacturing output dropped 0.5% last month, the Federal Reserve said on Friday. Data for February was revised higher to show production at factories …

US manufacturing output falls in March; rebounds in first quarter Read More »

(Reuters) – A U.S. recession is certainly feasible as the Federal Reserve’s steep rate-hikes over the past year filters fully through the economy, Chicago Fed President Austan Goolsbee said on Friday, as he again urged the central bank to be prudent on policy. “There is no way you can look at current conditions around the …

Fed’s Goolsbee says mild U.S. recession feasible Read More »

(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income (NII). Shares of PNC were up nearly 3% in premarket trading after upbeat results. They fell about 20% last quarter, which was marred …

PNC Financial beats profit estimates on boost from higher interest rates Read More »