Reuters US Business

By Tim Reid WASHINGTON (Reuters) – Members of Elon Musk’s Department of Government Efficiency (DOGE) moved into the Consumer Financial Protection Bureau on Friday, according to two people familiar with the move, as the Tesla CEO’s team extended its influence across the U.S. government. On Friday Musk posted “CFPB RIP” on X, his social media …

Musk team moves into US consumer finance watchdog as Trump defends billionaire Read More »

By Abigail Summerville and Shashwat Chauhan (Reuters) -All three U.S. stock indexes closed lower on Friday after President Donald Trump said he plans to announce reciprocal tariffs on many countries next week, following weak jobs and consumer sentiment data. Trump did not identify which countries would be hit but suggested it would be a broad …

Wall Street closes lower on trade war escalation, weak data Read More »

By Jarrett Renshaw and David Morgan WASHINGTON (Reuters) -President Donald Trump said on Friday he plans to announce reciprocal tariffs on many countries by Monday or Tuesday of next week, a major escalation of his offensive to tear up and reshape global trade relationships in the U.S.’ favor. Trump did not identify which countries would …

Trump says he will announce reciprocal tariffs on many countries next week Read More »

By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase appointed Matt Sable and Melissa Smith as co-heads of commercial banking, the largest U.S. lender said on Friday, as it continues to reorganize the unit. The move follows a broader leadership reshuffle last month in which Jennifer Piepszak was named as chief operating officer to succeed Daniel …

JPMorgan appoints co-heads of commercial banking Sable and Smith Read More »

(Reuters) -Bank of America Corp increased the compensation for Chief Executive Officer Brian Moynihan by roughly 21% to $35 million for 2024, the lender said in a filing on Friday. That compares with Moynihan’s pay of $29 million in 2023. Last month, the lender’s fourth-quarter profit beat expectations as its traders benefited from a flurry …

BofA CEO Moynihan’s pay increases to $35 million in 2024 Read More »

By Pete Schroeder WASHINGTON (Reuters) -The U.S. Treasury Department announced on Friday that Rodney Hood, a former credit union regulator, would take over as the acting head of a leading national bank regulator. Hood would replace Michael Hsu as head of the Office of the Comptroller of the Currency, which oversees the nation’s largest banks, …

US Treasury taps former regulator Hood to lead bank watchdog Read More »

By Arriana McLymore (Reuters) -Amazon.com removed a reference to “inclusion and diversity” in its annual report filed on Thursday, after it told employees in a December memo that it was winding down its programs as part of corporate America’s broader retreat from such policies. Some of America’s biggest businesses have been scaling back diversity initiatives, …

Amazon cuts reference to diversity from annual report as Trump wages war on DEI Read More »

By Jonathan Stempel (Reuters) -Hertz Global Holdings on Friday won the dismissal of a lawsuit by warrant holders that could have forced the car rental company to owe hundreds of millions of dollars following a series of financing transactions. Funds associated with Discovery Capital Management alleged in a complaint last June that Hertz underwent a …

Hertz wins dismissal of lawsuit in Delaware over warrants Read More »