Reuters: Business News
|General Electric CEO affirms weak forecasts, signaling stable outlook
General Electric Co Chief Executive Officer Larry Culp affirmed the ailing conglomerate's weak forecasts for 2019 and beyond on Wednesday, a potential sign of stability after his predecessors repeatedly missed financial goals.
POSTED MAY 22, 2019 12:44 PM
|U.S. Treasury's Mnuchin says U.S. to hit debt limit in late summer
U.S. Treasury Secretary Steven Mnuchin on Wednesday urged Congress to raise the U.S. debt ceiling as soon as possible, saying the U.S. government was expected to exhaust its borrowing authority around late summer.
POSTED MAY 22, 2019 12:37 PM
|Mnuchin says more U.S. tariffs on China at least a month away
The United States is at least a month from enacting its proposed tariffs on $300 billion in Chinese imports as it studies the impact on consumers, U.S. Treasury Secretary Steven Mnuchin said on Wednesday.
POSTED MAY 22, 2019 12:36 PM
|U.S. Treasury's Mnuchin: No discussion with White House on Trump's taxes
U.S. Treasury Secretary Steven Mnuchin on Wednesday said he had not discussed releasing President Donald Trump's tax returns with the White House, and disagreed with an IRS memo that reportedly concluded he should release them to Congress.
POSTED MAY 22, 2019 12:35 PM
|British Steel collapses after failing to secure extra funding
British Steel, the country's second largest steel producer, has collapsed and put 25,000 jobs at risk after failing to secure emergency government funding, Britain's Official Receiver said on Wednesday.
POSTED MAY 22, 2019 12:32 PM
|Gold miners must focus on returns, mergers to attract investment: Barrick CEO
Gold miners must focus on maximizing returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold's chief executive said on Wednesday.
POSTED MAY 22, 2019 12:13 PM
|Lowe's cuts 2019 profit forecast, blames higher costs, weak pricing
Lowe's Cos Inc cut its full-year profit forecast after reporting disappointing first-quarter earnings, as the home improvement chain failed to raise prices in time to make up for higher costs, sending its shares down 9%.
POSTED MAY 22, 2019 12:05 PM
|Commerzbank open to M&A after Deutsche Bank talks collapse
Commerzbank may refine its strategy and is still open to mergers following the collapse of talks with its larger rival Deutsche Bank, the lender's chief executive said on Wednesday.
POSTED MAY 22, 2019 11:57 AM
|Mnuchin says U.S. open to new China trade talks based on previous negotiations
U.S. Treasury Secretary Steven Mnuchin said the Trump administration is open to holding new talks with China if the two sides can proceed on the basis of previous negotiations.
POSTED MAY 22, 2019 11:54 AM
|Wall St. slips as trade tensions mount; Fed minutes awaited
U.S. stocks dipped on Wednesday, as trade tensions were heightened on reports that Washington could impose sanctions on another Chinese company, while investors awaited the release of minutes from the Federal Reserve's latest policy meeting.
POSTED MAY 22, 2019 11:54 AM