Reuters US Business

(Reuters) -Former Starbucks chief executive, Howard Schultz, is opposing a potential settlement between the coffee chain and activist investor Elliott Investment Management, the Financial Times reported on Friday. Schultz, who is the sixth largest shareholder with a $2.03 billion stake in the company, according to LSEG data made his opposition to an Elliott settlement known …

Starbucks’ ex-CEO Schultz opposes potential settlement with Elliott, FT reports Read More »

By Marcela Ayres and Bernardo Caram RIO DE JANEIRO (Reuters) -G20 financial leaders said on Friday the global economy was likely heading for a “soft landing”, but warned wars and escalating conflicts could endanger this outlook, while more global cooperation could make growth stronger. In a joint communique after a two-day meeting in Brazil, finance …

G20 financial chiefs flag global economic ‘soft landing’, warn of risks from war Read More »

By David Lawder RIO DE JANEIRO (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that she opposes shifting global tax deal negotiations away from the Organisation for Economic Cooperation and Development to the United Nations, pushing back against the desires of some developing countries and non-profit groups. Yellen told Reuters on the sidelines of …

Keep global tax negotiations at OECD, not UN, Yellen says Read More »

By David French (Reuters) -Wall Street’s major indexes ended higher on Friday as investors flocked back to tech megacaps that had triggered broad sell-offs earlier in the week, and inflation data boosted optimism that the Federal Reserve will soon commence cutting interest rates. For the S&P 500 and Nasdaq Composite, the advances could not completely …

Wall St closes up on revival supported by inflation data, tech stocks Read More »

By Karen Brettell (Reuters) -The U.S. Treasury Department is likely to announce next week that it will keep most of its coupon-bearing U.S. Treasury auction sizes steady over the coming quarter, offering the market some relief after recent large increases. Additional expansions are expected down the road, however, as the U.S. fiscal trajectory worsens. The …

Treasury likely to keep most auction sizes steady for now Read More »

(Reuters) – Nasdaq said on Friday private equity firm Thoma Bravo will sell 41.6 million shares in the exchange operator through a secondary public offering. Based on Nasdaq’s last close, the offering will raise $2.79 billion for its top shareholder Thoma Bravo. Nasdaq shares fell 2.7% after the bell. The offering will reduce Thoma Bravo’s …

Nasdaq says top shareholder Thoma Bravo to sell shares worth $2.8 billion Read More »

(Reuters) -Pershing Square USA, a fund managed by billionaire Bill Ackman, has postponed its initial public offering, according to a notice on the New York Stock Exchange’s website on Friday. The delay follows Ackman’s recent slashing of the fundraising target for the U.S. fund. The IPO was originally scheduled to price on Monday. Pershing Square …

Ackman’s Pershing Square USA postpones IPO, NYSE website shows Read More »

By Fergal Smith (Reuters) -Canada’s main stock index notched broad-based gains on Friday to extend its weekly winning streak, as investors cheered U.S. inflation data that could clinch the start of Federal Reserve interest-rate cuts in the coming months. The Toronto Stock Exchange’s S&P/TSX composite index ended up 206.78 points, or 0.9%, at 22,814.81, after …

TSX adds to weekly winning streak in broad-based rally Read More »

By Suzanne McGee (Reuters) – The State of Michigan Retirement System, which oversees some $143.9 million in pension fund assets for state employees, has invested $6.6 million in the ARK 21Shares Bitcoin ETF, it disclosed in a regulatory filing on Friday. This marks the second confirmed investment by a pension fund in the spot bitcoin …

Michigan state pension fund makes $6.6 million bitcoin ETF investment Read More »

By Dawn Chmielewski (Reuters) -Warner Bros Discovery and its sports division, Turner Broadcasting System, filed a lawsuit on Friday against the National Basketball Association in New York over the league’s rejection of its matching bid for media rights. The media company accused the NBA’s refusal to honor its right to match offers from a third …

Warner Bros Discovery sues NBA over bid for broadcast rights Read More »