Kraft Heinz exploring sale of Oscar Mayer business, WSJ reports
(Reuters) -Kraft Heinz is exploring a sale of its Oscar Mayer meats business that could fetch anything between $3 billion to $5 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. The packaged food maker has tap...
5h ago
US Postal Service will delay processing network consolidation plans
By David Shepardson WASHINGTON (Reuters) - U.S. Postmaster General Louis DeJoy has agreed to pause planned further consolidation of the postal service's processing network after a bipartisan group of senators raised concerns about the impact on mai...
5h ago
Volkswagen explores stock sale in truckmaker Traton, Bloomberg reports
(Reuters) - Volkswagen is exploring the sale of as much as1 billion euros ($1.08 billion) worth of stock in its heavy truckmaking arm Traton SE, Bloomberg News reported on Monday, citing people familiar with the matter. The German automaker is talk...
5h ago
Illinois state treasurer urges Exxon shareholders to vote against CEO Woods
(Reuters) - The Illinois state treasurer has urged Exxon Mobil shareholders to vote against the election of Executive Chair and CEO Darren Woods, as the oil major pursues a lawsuit against two shareholders, a filing showed on Monday. (Reporting by...
5h ago
US financial regulators propose anti-money laundering rules for fund advisers
(Reuters) - Two U.S. financial regulators jointly proposed new rules on Monday that would fight money laundering by requiring fund advisers to document customer identities, part of a wider effort to keep dirty money out of the investment industry. ...
6h ago
OpenAI to announce ChatGPT product improvements Monday
By Anna Tong (Reuters) - ChatGPT-maker OpenAI plans to announce on Monday updates to its flagship chatbot as its most advanced AI model GPT-4, which "feels like magic," CEO Sam Altman said on X on Friday. The company said on X that it will hold a l...
6h ago
Tesla settles factory worker's sexual harassment lawsuit
By Daniel Wiessner (Reuters) - Tesla has settled a lawsuit by a former factory employee who says she was fired for complaining about severe sexual harassment, as the electric carmaker faces a series of other cases alleging workplace sex and race di...
6h ago
Melinda Gates to step down as co-chair of Bill & Melinda Gates Foundation
(Reuters) -Melinda French Gates said on Monday she is stepping down as co-chair of the Bill & Melinda Gates Foundation. Her last day of work at the foundation will be June 7, according to her post on X. Billionaire benefactors Bill and Melinda Gates, c...
7h ago
Argentina monthly inflation seen back in single digits in April
By Hernan Nessi BUENOS AIRES (Reuters) - Argentina's monthly inflation rate likely dipped back into single digits for the first time in half a year in April, analysts polled by Reuters estimated, amid a gradual slowdown in price rises as the countr...
7h ago
Yellen to tout broadband investments in trip to rural Virginia
By Andrea Shalal WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen will travel to Stafford County, Virginia on Monday to tour a broadband infrastructure project funded by the $1.9 trillion COVID-era American Rescue Plan and underscore the...
7h ago
Yellen says Chinese response possible on expected US tariff action
WASHINGTON (Reuters) - The United States could see a significant response from China following any U.S. tariff actions, U.S. Treasury Secretary Janet Yellen said on Monday ahead of expected new tariffs targeting certain sectors this week. "Presiden...
8h ago
NY Fed survey finds general expectations of higher inflation
By Michael S. Derby (Reuters) - Americans last month braced for generally higher inflation pressures over the next few years and accelerating home price increases, according to a report released on Monday by the Federal Reserve Bank of New York. Th...
8h ago
Major airlines sue Biden administration over fee disclosure rule
By David Shepardson WASHINGTON (Reuters) -Major U.S. airlines are suing the U.S. Transportation Department (USDOT) over a new rule requiring upfront disclosure of airline fees, the latest clash between air carriers and the Biden administration. Airline...
8h ago
UBS CEO says Switzerland should not "overshoot" with capital demands
By Elisa Martinuzzi ZURICH (Reuters) -UBS CEO Sergio Ermotti said on Monday that criticism that the bank had become too big for Switzerland and that it needed to set aside more capital were misplaced. Ermotti, who was brought back to UBS last year to l...
9h ago
Fed to cut rates in September, say nearly two-thirds of economists: Reuters poll
By Indradip Ghosh BENGALURU (Reuters) - The U.S. Federal Reserve will cut its key interest rate twice this year, starting in September, according to a stronger majority of economists polled by Reuters who broadly raised their inflation forecasts fo...
9h ago
Tim Draper leads $3.5 million fundraise for six-employee startup behind bitcoin lending
By Niket Nishant (Reuters) - Zest Protocol, a bitcoin lending startup with just six employees, has secured $3.5 million in a funding round led by billionaire investor Tim Draper. Besides venture capital firm Draper Associates, nearly a dozen inves...
9h ago
GameStop jumps after 'Roaring Kitty' returns following three-year hiatus
(Reuters) - Shares of GameStop jumped 40% in premarket trading on Monday after social media persona "Roaring Kitty," whose online posts had sparked a trading frenzy in the videogame retailer in 2021, returned on X.com after three years. Keith Gill,...
10h ago
BHP says Anglo American rejected $42.7 billion revised proposal
LONDON (Reuters) -BHP Group said on Monday that Anglo American had rejected a revised buyout offer valuing the company at 34 billion pounds ($42.67 billion). Anglo American in April rebuffed BHP's $39 billion all-share takeover proposal, saying it was ...
10h ago
Futures edge higher at start of data-heavy week
(Reuters) - Futures for the main U.S. indexes were slightly higher on Monday, after several weeks of gains, as investors awaited key inflation figures this week to gauge the likelihood of interest rate cuts this year. On Friday, the S&P 500 and Nas...
11h ago
J&J to exit Kenvue, a year after spinoff
(Reuters) - Tylenol maker Kenvue said on Monday that Johnson & Johnson will offload its entire 9.5% stake in the company, about a year after the healthcare conglomerate spun off and listed its consumer health business. Shares of Kenvue fell nearly ...
12h ago
China to kick off 1 trillion yuan stimulus bond issues this week
SHANGHAI/BEIJING (Reuters) - China's finance ministry said on Monday it would start the long-awaited sales of long-term special treasury bonds that Beijing hopes will help stimulate key sectors of a flagging economy this week. The finance ministry ...
12h ago
South Korea's top diplomat warns of rising economic competition with China
By Hyonhee Shin (Reuters) - Economic relations between South Korea and China face risks and challenges due to increasingly fierce competition over technology, South Korea's Foreign Minister Cho Tae-yul said on Monday ahead of talks with his Chinese...
12h ago
Intel nears deal with Apollo for $11 billion Ireland partnership, WSJ reports
(Reuters) - Intel is in advanced talks for a transaction in which Apollo Global Management would supply more than $11 billion to help build a chip plant in Ireland, the Wall Street Journal reported on Monday. (Reporting by Zaheer Kachwala in Benga...
12h ago
ESR halts trading on potential take-private plan, sources say
By Kane Wu and Julie Zhu HONG KONG (Reuters) - Hong Kong-listed real estate fund manager ESR Group, which halted trading in its shares on Monday, is subject to a potential take-private bid from a group of investors including Starwood Capital Group,...
12h ago
Morning bid: Earnings hurdle cleared - CPI fence up next
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street and world stock markets have cleared the first-quarter corporate earnings season comfortably enough to be back stalking record highs, but macro markets don't want to budge m...
13h ago