Stocks inch lower, dollar firm as Fed focus intensifies; crypto soars
By Kevin Buckland TOKYO (Reuters) - Asian stocks drifted lower while the dollar held firm on Tuesday as investors awaited minutes of the Federal Reserve's latest policy meeting to gauge the timing and extent of possible interest rate cuts this year...
6h ago
Star shares plunge as investors doubt validity of proposed takeover by Hard Rock
(Reuters) - Shares of Australia's Star Entertainment plunged on Tuesday, a day after soaring 20%, as investors expressed their confusion over a proposed takeover offer that the cash-strapped casino operator said came from a consortium including Har...
8h ago
Japan concerned about negative aspects of weak yen on wage hikes, finance minister says
TOKYO (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Tuesday he was concerned about the negative aspects of the current weakness in the yen and its impact on incentives to increase wages. "One of our major goals is to achieve wage in...
8h ago
Bank of Korea to hold rates on May 23, first cut pushed to Q4 - Reuters poll
By Anant Chandak BENGALURU (Reuters) - The Bank of Korea will keep its key policy rate unchanged for an 11th straight meeting on Thursday and through next quarter, followed by a half point cut in Q4 after the likely start of policy easing from many...
9h ago
Samsung Elec appoints new chief for its chip business
SEOUL (Reuters) - Samsung Electronics said it has appointed YoungHyun Jun as the company's new chief for its semiconductor unit. "This is a preemptive measure to strengthen the future competitiveness," Samsung Electronics said in a statement. (Rep...
10h ago
Top U.S. natural gas producer Chesapeake Energy cuts jobs
By Shariq Khan and Liz Hampton (Reuters) - Chesapeake Energy, a top U.S. natural gas producer, began laying off employees this week after completing the divestiture of its oil assets last year, the company said on Monday. This week's layoffs follow...
10h ago
AI-intensive sectors are showing a productivity surge, PwC says
LONDON (Reuters) - EMBARGOED 0001 LOCAL TUESDAY The types of business which are most likely to use artificial intelligence are seeing growth in workers' productivity that is almost five times faster than elsewhere, raising hopes for a boost to the ...
11h ago
Australia's Telstra to cut up to 2,800 jobs by year-end to simplify operations
(Reuters) - Australian telecom firm Telstra said on Tuesday it would reduce up to 2,800 jobs from its direct workforce by the end of this year, as a part of its proposed measures to simplify operations and improve productivity. Consultation on 377 ...
11h ago
US lawsuit challenges Southwest Air's free ticket program for Hispanic students
By Nate Raymond (Reuters) - A group founded by a prominent anti-affirmative action activist on Monday sued Southwest Airlines, alleging that a two-decade-old program that awards free round-trip flights to Hispanic undergraduate and graduate student...
11h ago
US regulator to probe VinFast crash in California in which four died
WASHINGTON (Reuters) - U.S. auto safety investigators said Monday they will investigate a VinFast VF 8 crash in April in Pleasanton, California, in which a family of four died. The National Highway Traffic Safety Administration said the investigati...
12h ago
Automakers back key parts of new US EPA vehicle emissions rules
WASHINGTON (Reuters) - A trade group representing General Motors, Toyota Motor, Volkswagen and nearly all other major automakers on Monday backed two key portions of new U.S. rules to dramatically cut vehicle emissions through 2032. The Alliance fo...
13h ago
Fitness equipment maker Peloton looks to refinance debt amid sagging demand
(Reuters) -Peloton Interactive said on Monday it was looking to refinance its debt, as the fitness equipment maker seeks to regain its footing amid falling sales due to uncertain demand. The company said it will sell $275 million of convertible senior ...
13h ago
Temu moves closer to Brazil debut with approval for tax benefit
SAO PAULO (Reuters) - Chinese e-commerce retailer Temu has been certified for a tax benefit program by Brazil's government that exempts goods up to $50 from import fees, according to the country's federal revenue office's website on Monday, bringin...
13h ago
Trump's social media company discloses inquiry from FINRA
(Reuters) -The owner of Donald Trump's social media company Truth Social said on Monday it had cooperated with an inquiry from the Financial Industry Regulatory Authority (FINRA) tied to its blank-check merger. The inquiry from FINRA, Wall Street's sel...
13h ago
Mexico's headline inflation likely edged up in early May: Reuters poll
MEXICO CITY (Reuters) - Mexico's headline inflation likely ticked up in the first half of May for the third consecutive fortnight, a Reuters poll showed on Monday, fueling bets the Bank of Mexico will hold its key interest rate steady at its next m...
14h ago
Marathon Partners urges Dr Martens to buy back stock, detail expense cuts
By Svea Herbst-Bayliss BOSTON (Reuters) - Investment firm Marathon Partners Equity Management is turning up the heat on Dr Martens by urging the British boot maker to detail planned expense cuts and to buy back stock, people familiar with the matt...
14h ago
Zoom Video raises full-year revenue forecast
(Reuters) -Zoom Video Communications raised its full-year revenue forecast on Monday, helped by robust demand for its product portfolio as companies continue to adopt hybrid work models. The upbeat outlook suggests that Zoom's efforts to incorporate ar...
14h ago
GSK faces whistleblower lawsuit over Zantac cancer risk
By Jonathan Stempel (Reuters) - GSK has been sued by an independent Connecticut laboratory that accused the drugmaker of defrauding the U.S. government and taxpayers by concealing cancer risks in Zantac, once a blockbuster heartburn drug. In a whis...
14h ago
Palo Alto Networks forecasts quarterly billings above estimates
(Reuters) - Palo Alto Networks forecast fourth-quarter billings above Wall Street estimates on Monday, a sign that clients are turning to the cybersecurity firm for its integrated software security tools. The company expects fourth-quarter billings...
14h ago
Dell deepens AI push with new PCs, Nvidia-powered servers
By Jaspreet Singh and Arsheeya Bajwa (Reuters) -Dell Technologies unveiled a range of AI-enabled PCs powered by Qualcomm processors and said a new server which supports Nvidia's latest chips will be available from the second half of 2024. Dell made th...
16h ago
Red Lobster probes "endless shrimp" losses after bankruptcy filing
By Dietrich Knauth NEW YORK (Reuters) - Red Lobster, which filed for Chapter 11 bankruptcy in Florida on Sunday night, is investigating the role its majority owner Thai Union played in the restaurant chain's "endless shrimp" promotion that caused $...
16h ago
BlackRock whistleblower alleges cover-up of search engine to spot Chinese investments
By Jonathan Stempel NEW YORK (Reuters) - BlackRock was sued for $20 million by a whistleblowing former vice president who said the asset manager fired him after shutting down a search engine that could monitor client discussions about illegal inves...
18h ago
Anglo shareholder LGIM supports break-up plan as BHP circles
LONDON (Reuters) - Anglo American shareholder Legal & General Investment Management (LGIM) supports the break-up plan announced by the company last week, it said on Monday, as the deadline approaches for BHP Group to log a formal takeover offer. Th...
18h ago
JPMorgan executives emphasize employee health, wellbeing after BofA banker death
NEW YORK (Reuters) - JPMorgan Chase's top executives on Monday emphasized the importance of employee health in response to a question about intense working conditions. A junior banker at Bank of America, Leo Lukenas III, died from a blood clot earl...
18h ago
Key Senate Democrat calls for new leadership at FDIC
WASHINGTON (Reuters) - Senate Banking Committee Chairman Sherrod Brown called for new leadership at the troubled Federal Deposit Insurance Corporation Monday, urging President Joe Biden to immediately nominate someone to replace current Chairman Ma...
20h ago