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Fitness beverage company Celsius to pay $3 million fine to settle US SEC accounting case

17 Jan 2025

(Reuters) – Celsius Holdings, the fitness beverage company, will pay a $3 million civil fine to resolve charges it accounted improperly for stock-based awards, the U.S. Securities and Exchange Commission said on Friday. The SEC said Celsius mishandled its accounting in 2021 for stock-based compensation expenses when it modified awards for six departing employees and …

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Bumble founder Wolfe Herd returns as CEO of struggling dating app operator

17 Jan 2025

(Reuters) -Bumble said on Friday founder Whitney Wolfe Herd was returning as CEO in March and that the struggling dating app operator expects to exceed its fourth-quarter revenue forecast. Wolfe Herd, executive chair of Bumble, will take the reins from Lidiane Jones, who steps down after a tenure of about a year that was marked …

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NHTSA opens preliminary probe into more than 870,000 GM vehicles

17 Jan 2025

(Reuters) -The U.S. National Highway Traffic Safety Administration said on Friday it was opening a preliminary probe into 877,710 vehicles manufactured by General Motors, after receiving reports alleging engine failure. The investigation covers certain Chevrolet Silverado, GMC Sierra, Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon and Cadillac Escalade trucks and SUVs from model years 2019-2024, equipped …

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Huntington Bancshares’ profit surges on strong capital markets, interest income growth

17 Jan 2025

(Reuters) – Huntington Bancshares on Friday reported a more than two-fold rise in its fourth-quarter profit, helped by robust performance in its capital markets unit and a higher interest income. The bank has diversified its offerings beyond lending into fee-earning businesses, a strategy that has paid off as companies actively sold stocks and bonds and …

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Fed to hold rates in Jan as Trump’s policies stir inflation worries: Reuters poll

17 Jan 2025

By Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will hold interest rates steady on Jan. 29 and resume cutting in March, according to a slim majority of economists polled by Reuters, as policymakers digest an expected barrage of new economic policies from Washington. The latest survey, taken in the week before U.S. President-elect …

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Fastenal misses estimates amid sluggish demand for industrial safety products

17 Jan 2025

(Reuters) – Fastenal posted fourth-quarter profit below analysts’ estimates on Friday, as a sustained slowdown in construction sector dented demand for its fasteners and other safety products. Shares of the Winona, Minnesota-based company fell 5.7% in premarket trading. U.S. construction activity has slowed due to increased financing costs for big projects amid higher interest rates, …

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Trump upended trade once, aims to do so again with new tariffs

17 Jan 2025

By David Lawder WASHINGTON (Reuters) – Donald Trump came to Washington eight years ago vowing to rewrite U.S. trade relationships, shrink a massive goods trade deficit and rebuild America’s industrial base with new tariffs. The president-elect is about to embark on an even more aggressive effort in his second term, pledging to impose 10% duties …

Trump upended trade once, aims to do so again with new tariffs Read More »

Truist beats quarterly profit estimates on investment banking gains

17 Jan 2025

(Reuters) – Truist Financial on Friday exceeded Wall Street estimates for fourth-quarter profit, helped by stronger investment banking and trading activity as capital markets strengthened. A resilient economy, declining interest rates and expectations of relaxed regulations under the Trump administration have boosted corporate enthusiasm for mergers and acquisitions. Equity and debt issuance also surged in …

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Wall Street banks sense opportunity for looser capital rules as Trump ushers in new era

17 Jan 2025

By Pete Schroeder WASHINGTON (Reuters) – Emboldened by a friendlier incoming Trump administration and their success last year in weakening draft capital hikes, big U.S. banks plan to push to overhaul other U.S. capital rules, according to industry executives. Among the industry’s goals are to lock in a much weaker version of the “Basel Endgame” …

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