Business

Lockheed, Pentagon announce $8.5 billion F-35 order

By Mike Stone WASHINGTON (Reuters) - The Department of Defense and Lockheed Martin Corp <LMT.N> announced on Friday an agreement worth about $8.5 billion for 90 F-35 jets, the lowest price to date...

Friday, February 3, 2017 - 9:36pm

Department store chairman Boscov announces cancer diagnosis

Albert Boscov, chairman of the multi-state family-owned department store chain that bears his name, announced he has been diagnosed with terminal cancer.Albert Boscov, 87, dispatched a letter Wednesday to the company's 8,000 employees announcing that he has been diagnosed with pancreatic cancer,...

Friday, February 3, 2017 - 3:50am

Volatility swoon opens up options market opportunities

By Saqib Iqbal Ahmed NEW YORK (Reuters) - Whether you believe the rally in U.S. stocks has run out of steam or expect shares to soar on to new highs, the recent slump in stock market volatility has opened up big opportunities for traders in the options market...

Friday, February 3, 2017 - 3:07am

Black, Latino workers accuse Amazon of discrimination

Black and Latino delivery drivers have filed a class-action complaint against Amazon, alleging discriminatory background checks led to their firing last year.Lawyers for the local driversfiled the complaint Tuesday with the Massachusetts Commission Against Discrimination, the state agency...

Thursday, February 2, 2017 - 3:57am

MetLife results hurt by weakness in U.S. retail unit, Latin America

(Reuters) - Insurer MetLife Inc's <MET.N> fourth-quarter operating profit, which excludes a $3.2 billion derivative loss, fell short of analysts' estimates due to a drop in income in its U.S. retail unit and in Latin America. The largest U.S. life insurer...

Thursday, February 2, 2017 - 3:09am

India unveils budget for recovery, and the poor, after cash crackdown

By Malini Menon and Krishna N. Das NEW DELHI (Reuters) - India unveiled a budget on Wednesday to help the poor with hikes in government spending and cuts in taxes as Prime Minister Narendra Modi seeks to win back the sympathy of voters hit hard by his...

Wednesday, February 1, 2017 - 4:51am

ECB could play role in setting up pan-European debt issuance service

FRANKFURT (Reuters) - The European Central Bank could play an active role in setting up a uniform, pan-European security issuance service aimed at cutting costs and reducing fragmentation within the currency bloc, ECB Executive Board member Yves Mersch said on Tuesday...

Tuesday, January 31, 2017 - 7:46am

Diageo returns to Irish whiskey market with Roe & Co

(Reuters) - Diageo <DGE.L> will launch a new blended Irish whiskey called Roe & Co, the world's largest distiller said on Tuesday. The maker of Johnnie Walker Scotch and Smirnoff vodka said it would invest 25 million euros ($26.76 million) over three...

Tuesday, January 31, 2017 - 5:40am

Elliott turns up CEO pressure blending activism with buyouts

By Michael Flaherty and Liana B. Baker NEW YORK/SAN FRANCISCO (Reuters) - Eight days after Elliott Management disclosed a 7.6 percent stake in LifeLock Inc <LOCK.N>, managers of the more than $30 billion hedge fund met with executives at the...

Tuesday, January 31, 2017 - 1:14am

Brazil to open airlines, agricultural land to foreign buyers: sources

By Anthony Boadle and Leonardo Goy BRASILIA (Reuters) - President Michel Temer will propose legislation to lift restrictions on foreign ownership of airlines and agricultural land in Brazil as he strives to pull the economy out of a two-year recession,...

Monday, January 30, 2017 - 4:29pm

Wells Fargo asset-based lending head resigns

By Dan Freed (Reuters) - Wells Fargo & Co's <WFC.N> asset-based lending head Guy Fuchs has decided to resign and will leave the bank March 31, according to bank spokeswoman Trisha Schultz. Fuchs resigned because he preferred working with...

Monday, January 30, 2017 - 1:50pm

Walgreens delays Rite Aid deal again, cuts offer price

(Reuters) - Drugstore chain Walgreens Boots Alliance Inc <WBA.O> said its deal to buy smaller rival Rite Aid Corp <RAD.N> would now take six months longer to close and also reduced its offer price as it expects to divest more stores to gain regulatory approval...

Monday, January 30, 2017 - 12:50pm

Ship operator Toisa files for bankruptcy

By Tom Hals WILMINGTON, Del. (Reuters) - Shipping company Toisa Ltd filed for U.S. Chapter 11 bankruptcy as falling demand for the Bermuda-chartered company's oil-and-gas supply vessels left it running short of cash, according to court documents. Toisa...

Monday, January 30, 2017 - 9:06am

Tempur Sealy scraps contracts with biggest customer Mattress Firm

By Jessica Kuruthukulangara (Reuters) - Mattress maker Tempur Sealy International Inc <TPX.N> said on Monday it terminated its contracts with Mattress Firm Holdings Corp, its biggest customer, after disagreements over proposed changes that required "...

Monday, January 30, 2017 - 6:53am

Citigroup to exit U.S. mortgage servicing operations by 2018

(Reuters) - Citigroup Inc <C.N> said on Monday it would speed up the transformation of its U.S. mortgage business by exiting servicing operations by the end of 2018. Citi said it would sell its mortgage servicing rights on about 780,000 Fannie Mae and...

Monday, January 30, 2017 - 6:33am

Swiss vote on multinational tax perks in February referendum

By John Revill ZURICH (Reuters) - U.S. medical implant maker Zimmer Biomet's <ZBH.N> decision on a potential $40 million investment in its Swiss factory has been put on hold until the outcome of a referendum next month on...

Monday, January 30, 2017 - 2:18am

'Safr' way to Uber? New rideshare offers women rides from female drivers

With the spotlight on girl power burning brighter than it did since the Spice Girls, the focus is on more female-driven companies. Safr, an Uber-like company – is taking “female driven” literally.Female drivers, offered “a new way of making a living without fear,” would be matched up with female...

Friday, January 27, 2017 - 8:44pm

Reaction to Not My President Candy chocolate bars is bittersweet

If you’re reading the news and feeling fretful about the discord in the country, the divide in the nation or the swiftness of the changes to health care or immigration, some comfort food might be in order. If you think Donald Trump is “not my president,” Not My President Candy LLC has you covered.“...

Friday, January 27, 2017 - 7:10pm

CMBS tied to Trump son-in-law sails through market

By Joy Wiltermuth NEW YORK (IFR) - Investors on Friday snapped up a new US$1.11bn commercial mortgage bond backed by a highly leveraged loan to refinance a New York property owned by President Donald Trump's son-in-law. The US$100m loan, part of a...

Friday, January 27, 2017 - 5:30pm

Ex-Jefferies bond trader Litvak guilty on one of 10 fraud counts

By Andy Thibault NEW HAVEN, Conn. (Reuters) - A federal jury found former Jefferies Group bond trader Jesse Litvak guilty for a second time for defrauding customers on bond prices, but acquitted him on nine of the 10 counts he faced. The verdict on...

Friday, January 27, 2017 - 10:59am