(Reuters) - Shares of DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates.
The latest attempt comes as a sale bid failed last year and exits of top executives and a slowdown due to high interest rates hampered efforts to pivot away from its declining legacy business of IT outsourcing services to cloud-based solutions.
"DXC has been in a... (continue reading...)
By Michael S. Derby
NEW YORK (Reuters) - The Federal Reserve Bank of New York is bolstering its data offerings tracking the state of supply chains.
The bank said Friday that it is launching new “Supply Availability Indexes” via a blog posting on Monday that going forward will feature as part of its regular monthly surveys of regional business activity.
Noting that supply chain pressures are a key driver of inflation,... (continue reading...)
By Leah Douglas
WASHINGTON (Reuters) - The U.S. House Agriculture Committee on Friday released a long-awaited farm bill draft that includes provisions to reduce spending on food aid for the poor and efforts to help farmers fight climate change, drawing opposition from Democrats.
Congress faces steep odds to pass a farm bill this session as the Republican-controlled House and Democratic-majority Senate remain far apart. The bill is... (continue reading...)
(Reuters) - Russian guided bombs killed at least two people and injured 13 others in the northeastern Ukraine's city of Kharkiv on Friday, local officials said.
It was not immediately clear what they had been targeting but the regional governor said those injured were civilians.
"Among the 13 wounded, four are in a serious condition," governor Oleh Syniehubov said on the Telegram messaging app.
Kharkiv, Ukraine's second... (continue reading...)
(Reuters) -Washington Federal Bank agreed on Friday to sell a portfolio of commercial multi-family real estate loans to Bank of America for about $2.9 billion, helping the regional lender cut its exposure to the troubled sector.
The commercial real estate (CRE) sector, which has been roiled by higher borrowing costs and lower occupancy, has become a key cause of concern for investors and has drawn tough regulatory scrutiny for regional lenders.
... (continue reading...)More Reuters
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