Author: Reuters
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Airbus confirms new quality problem on ‘limited’ number of A320 jets
PARIS – Airbus said Monday it has discovered an industrial quality issue affecting metal panels on a “limited” number of A320-family aircraft, confirming a Reuters report, the latest challenge for the plane-maker after a weekend recall of its jets. The company’s shares fell as much as 10%, accelerating earlier losses as the industrial issue eclipsed…
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U.S. manufacturing slump deepens in November
WASHINGTON – U.S. manufacturing contracted for the ninth straight month in November, with factories facing slumping orders and higher prices for inputs as the drag from import tariffs persisted. The Institute for Supply Management said Monday its manufacturing PMI dropped to 48.2 last month from 48.7 in October. A reading below 50 indicates contraction in…
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As AI reshapes shopping, U.S. retailers try to change how they’re seen online
NEW YORK – Big retailers traditionally spend millions on attracting eyeballs for the holiday season. Now, they’re looking to get noticed by something else – AI. Most of this holiday season’s projected $253 billion in U.S. online sales will happen through website visits or standard online searches that favor companies that spend big on search engine…
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Broadcaster E.W. Scripps adopts poison pill after $538 million Sinclair bid
U.S. broadcaster E.W. Scripps said Wednesday it has adopted a shareholder rights plan to give its board time to evaluate a $538 million bid from larger rival Sinclair and other options. The rights plan, commonly known as a poison pill, aims at protecting shareholders against coercive tactics, Scripps said. It would come into effect if…
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Small U.S. retailers face holiday supply chaos due to Trump tariffs
For Matt Hassett, founder of New York-based sleep wellness brand Loftie, the year-end holiday rush has always kept him on his toes. But this time, it has turned chaotic as import tariffs on China, from where Loftie sources its sunrise lamps and phone-free alarm clocks, disrupted supply chain. “It’s been very difficult to prepare. We…
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Trump team negotiating deal with Taiwan that could help train U.S. workers, sources say
President Donald Trump’s administration is negotiating a deal that could commit Taiwan to fresh investment and training of U.S. workers in semiconductor manufacturing and other advanced industries, according to five people familiar with the matter. Under the arrangement, Taiwanese companies including TSMC, the world’s largest contract chipmaker, would send new capital and workers to expand…
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Deere forecasts weak annual profit on tariff hit
Deere & Co. forecast an annual profit below estimates on Wednesday, pressured by tariff impacts and weaker margins from its large tractors. CEO John May said ongoing margin pressures from tariffs would continue to weigh on its large farm equipment unit, although he expects to benefit from cost cuts and demand from two of its…
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Weekly jobless claims at seven-month low as layoffs remain low
WASHINGTON – The number of Americans filing new applications for unemployment benefits fell to a seven-month low last week, pointing to still-low layoffs, though the labor market is struggling to generate enough jobs for those out of work amid economic uncertainty. The absence of labor market deterioration in the weekly jobless claims report from the…
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Trump’s case against Kelly faces steep hurdles under military law
NEW YORK — Threats by the Trump administration to recall Senator Mark Kelly to active Navy duty to prosecute him under military law for urging troops to disobey illegal orders would face steep hurdles in a system designed to give troops strong rights to due process, according to seven military law experts. Kelly and five…
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US to target lower costs for 15 high-priced Medicare medicines
The U.S. expects to announce lower prices for 15 of Medicare’s costliest drugs this week, a pivotal move for the program’s 67 million older and disabled Americans and for President Donald Trump’s push to align costs with other wealthy nations. The government earlier this month unveiled a deal to next year slash to $245 a…