Reuters US Business

By Svea Herbst-Bayliss New York (Reuters) – The U.S. Department of Justice has launched an expansive criminal investigation into short selling by hedge funds and research firms, according to three people familiar with the matter. Investigators are probing the relationships among the hedge funds and firms that publish negative reports on certain companies, often with …

U.S. Justice Dept launches expansive probe into short-selling -sources Read More »

(Reuters) – Activist investment firm Mantle Ridge wants to overhaul Dollar Tree’s board and would like the company to hire the former chief executive of rival Dollar General Corp as it pushes for a review of the retailer’s business strategy. Mantle Ridge, which owns a $1.8 billion stake in the retailer, has nominated 11 people, …

Activist investor Mantle Ridge nominates 11 to Dollar Tree board Read More »

(Reuters) – JPMorgan Chase & Co is preparing to pay nearly $200 million to settle U.S. regulatory investigations into lapses over monitoring employee communications, Bloomberg News reported on Friday, citing people familiar with the matter. The bank could reach a settlement with the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission before …

JPMorgan set to pay $200 million fine over staff communications lapse – Bloomberg News Read More »

By Stephen Culp NEW YORK (Reuters) – Wall Street advanced on Friday and the S&P 500 notched an all-time closing high, as market participants digested an inflation reading that was in line with consensus, but also marked the largest annual increase in consumer prices in nearly four decades. All three major U.S. stock indexes advanced, …

Wall Street gains, S&P hits record closing high as CPI meets expectations Read More »

By Nandita Bose and Mohammad Zargham WASHINGTON (Reuters) -U.S. President Joe Biden said he was “deeply troubled” by Kellogg Co’s plans to hire permanent replacements for striking unionized employees after they voted down a proposed contract this week. Biden, who has put unions at the center of his policymaking, said such actions undermine the critical …

Biden ‘deeply troubled’ by Kellogg’s plan to replace striking workers Read More »

By Howard Schneider WASHINGTON (Reuters) – The U.S. Federal Reserve’s experiment with running a “hot” economy has edged into historically uncharted territory, with an unemployment rate never reached without associated central bank rate increases and now levels of inflation that in the past also prompted a policy response. The Consumer Price Index for November posted …

Analysis-Fed’s “hot” economy experiment offers historic bet on a soft landing from high prices Read More »

By Diane Bartz WASHINGTON (Reuters) -Drugmakers have targeted the U.S. market to earn outsized profits from old medicines, according to a report released on Friday by the House Oversight Committee that highlighted Eli Lilly and Co, Novo Nordisk and Sanofi, which dominate the market for insulin. The staff report also noted pricing and marketing tactics …

Drugmakers aim big price hikes at U.S. patients, congressional report finds Read More »

By David Shepardson and Paul Lienert (Reuters) – General Motors is considering investing more than $4 billion in two Michigan plants to boost its electric vehicle production capacity, according to sources and documents made public on Friday. GM has proposed building a $2.5 billion battery plant near Lansing with partner LG Energy Solution, the documents …

GM eyes investments of more than $4 billion in Michigan EV plants Read More »