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 ...
11h 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...
11h 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...
11h 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...
12h 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...
13h 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...
13h 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...
13h 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...
13h 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...
14h 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 $...
14h 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...
16h 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...
16h 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...
17h 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...
18h ago
Brazil central bank plans year-end proposal for crypto regulation
BRASILIA (Reuters) - Brazil's central bank announced on Monday that it has decided to divide the process of regulating crypto-assets and virtual asset service providers into phases, with regulatory proposals expected by the end of this year. The de...
18h ago
Fed's Jefferson: too early to tell if slowdown in inflation 'long lasting'
By Michael S. Derby (Reuters) - The recent ebbing in some key price increase indicators is encouraging but it is too soon to know whether inflation is back on a sustainable path back to 2%, Fed Vice Chair Jefferson said on Monday. "It is too early ...
18h ago
BMW imported 8,000 vehicles into US with parts from banned Chinese supplier -- Senate report
WASHINGTON (Reuters) - German automaker BMW imported 8,000 Mini Cooper vehicles into the United States with components from a banned Chinese supplier, a U.S. Senate report released Monday said. Congress in 2021 passed legislation to strengthen enfo...
19h ago
New supply chain pressure metric shows improvement has stalled, says NY Fed
(Reuters) - A new set of supply availability indexes show that improvement in firms' access to inputs hit a wall over the past couple of months, the Federal Reserve Bank of New York said on Monday. "These indexes indicate that supply availability h...
19h ago
Copper's record run at risk as US shipments calm speculator frenzy
By Eric Onstad and Julian Luk LONDON (Reuters) - Copper's lightning rally to record highs may not be sustainable in the coming weeks, with action concentrated on the shipment of material to cover exposed short positions in the U.S. Comex futures ma...
19h ago
Analysis-Global oil markets weaken as sluggish demand leaves overhang
By Robert Harvey and Natalie Grover LONDON (Reuters) - Global physical crude oil markets are weakening because of soft refinery demand and ample supply, traders and analysts told Reuters, in a move that could spell further weakness for benchmark c...
19h ago
CalPERS to vote against Exxon board members
(Reuters) - CalPERS, the biggest public pension plan in the United States, will vote against all Exxon Mobil board members at the upcoming annual meeting on May 29, a regulatory filing showed on Monday. (Reporting by Mrinalika Roy in Bengaluru; Ed...
19h ago
Factbox-Main facts about the copper market as prices hit record highs
LONDON (Reuters) - Copper surged to record highs on Monday as a recent rally triggered by short covering created momentum for speculators and funds to bet on higher prices of the metal. Below are the main facts about the copper market, sourced from...
20h ago
Regional lender SouthState to buy Independent Bank for about $2 billion
(Reuters) - Regional lender SouthState Corp will buy peer Independent Bank in an all-stock deal valued at about $2 billion, the companies said on Monday. As part of the deal, Independent Bank shareholders will receive 0.60 shares of SouthState comm...
20h ago
Futures inch up with Fed minutes, Nvidia results on tap for the week
(Reuters) - U.S. stock index futures edged higher on Monday, with Nvidia's quarterly results and the Federal Reserve's policy meeting minutes due this week likely to test Wall Street's record-breaking run. All the three major indexes marked their f...
21h ago
Shah Capital ends campaign against Novavax board after Sanofi deal
(Reuters) - Hedge fund Shah Capital said on Monday it would withdraw its campaign against the re-election of three directors on Novavax's board, after the COVID-19 vaccine maker struck a licensing deal with Sanofi. Under a deal signed on May 10, th...
21h ago