Reuters US Business

By Sheila Dang (Reuters) -Billionaire Elon Musk told advertisers that have fled his social media platform X over antisemitic content to “Go fuck yourself” in a fiery Wednesday interview. His profanity-laced remarks followed a moment of contrition in a New York Times DealBook Summit interview. Musk said repeatedly he was sorry for publishing a tweet …

Elon Musk curses out advertisers who left X over antisemitic content Read More »

ZURICH (Reuters) – Billionaires increased in numbers and overall wealth last year, Swiss bank UBS said on Thursday, with the fortunes inherited by the newly-minted super-rich exceeding cash generated by self-made billionaires for the first time in years. The number of billionaires rose by 7% to 2,544 people globally, UBS said in its 2023 Billionaires …

UBS sees shift in new billionaires away from entrepreneurs to inherited wealth Read More »

(Reuters) -Salesforce raised its forecasts for annual profit and the lower end of its revenue on Wednesday, benefiting from a strong demand for its cloud and business products in an uncertain economy. Its shares rose 7% after the bell as it also forecast fourth-quarter revenue and profit above expectations and exceeded Wall Street targets for …

Salesforce raises annual profit view on steady cloud demand Read More »

By Mike Scarcella (Reuters) – The U.S. Supreme Court on Wednesday heard arguments on whether the U.S. Securities and Exchange Commission (SEC) has the power to pursue defendants in its own in-house tribunal rather than in federal court. The outcome of the case could affect how the SEC and other U.S. federal agencies enforce regulations. …

Factbox-US Supreme Court case on SEC could have wide impact on agency enforcement Read More »

By David Shepardson WASHINGTON (Reuters) -The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. after winning new contracts with the Detroit Three automakers. The Detroit-based UAW said workers at 13 nonunion automakers were announcing simultaneous campaigns across the country …

UAW launches bid to organize Tesla and ‘entire non-union auto sector’ in US Read More »

By Hannah Lang (Reuters) – The U.S. government will cut off cryptocurrency companies from the broader U.S. economy if they fail to block and report illicit money flows, Deputy Treasury Secretary Wally Adeyemo warned the industry on Wednesday. Speaking at an event hosted by the Blockchain Association, Adeyemo said that crypto companies need to do …

US will be forced to curtail crypto if industry fails to act on illicit finance threats- official Read More »

By Anirban Sen and Deena Beasley (Reuters) – Major U.S. health insurer Cigna is in merger talks with Humana, a source familiar with the matter said on Wednesday, a deal that would give Cigna a much greater foothold in the fast-growing market for managing federal Medicare plans for older Americans. The companies are discussing a …

US health insurers Humana, Cigna in talks to merge -source Read More »

By Paritosh Bansal (Reuters) -In recent weeks top U.S. officials have raised concerns over a hedge fund trade that profits from tiny price differences in Treasuries, worried it could present a risk to financial stability. No one knows, though, how big that trade really is. Researchers from the U.S. Federal Reserve and the Office of …

In the Market: Regulators look to pry open the dark corners of Treasury markets Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – Jeff Ubben, one of Wall Street’s most prominent activist investors, is shutting down Inclusive Capital Partners, a new firm designed to focus on social investing, three years after starting it. The Wall Street Journal reported on Wednesday that the firm is winding down its funds and is returning …

Activist investor Ubben shutting down Inclusive Capital -WSJ Read More »

By Stephen Culp NEW YORK (Reuters) -U.S. stocks edged lower on Wednesday as a robust upward GDP revision eased recession fears, while Federal Reserve officials’ remarks raised questions about the duration of the central bank’s restrictive policy ahead of inflation data due early Thursday. The Nasdaq joined the S&P 500 in negative territory, while the …

S&P 500 wobbles to lower close on mixed Fed messages, strong GDP data Read More »