Reuters US Business

By Savyata Mishra (Reuters) -Cosmetics retailer Ulta Beauty on Monday forecast a strong fourth quarter and said insider Kecia Steelman will replace retiring CEO Dave Kimbell in the top role, sending its shares up 1.5% in extended trading. Ulta expects quarterly comparable sales to increase modestly and said its operating margin will be above the …

Ulta Beauty names insider Steelman as CEO, flags strong holiday sales Read More »

(Reuters) – AbbVie lowered its 2024 adjusted profit forecast on Monday as the drugmaker incurred $1.6 billion in acquisition expenses related to milestone payments as well as research-and-development costs. The company has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection last year. To that end, AbbVie bought neuroscience …

AbbVie cuts 2024 profit forecast on acquisition expenses Read More »

(Corrects paragraph 5 to remove extraneous ‘not’) By David Shepardson WASHINGTON (Reuters) – The U.S. Department of Justice asked the Supreme Court late on Friday to reject President-elect Donald Trump’s request to delay implementation of a law that would ban popular social media app TikTok or force its sale by Jan. 19. Last week, Trump …

DOJ urges Supreme Court to reject Trump request to delay TikTok ban law Read More »

HONG KONG (Reuters) – China’s main stock exchanges asked some large mutual funds to restrict stock selling at the start of the year, three sources familiar with the matter said, as authorities sought to calm markets heading into a tricky period for the world’s second-largest economy. At least four large mutual funds received calls from …

Exclusive-Chinese exchanges ask big fund managers to restrict stock selling, sources say Read More »

By Eliana Raszewski and Renato Spyrro SANTIAGO/RIO DE JANEIRO/BUENOS AIRES (Reuters) – In the shopping malls of Santiago de Chile and the beaches of Brazil, Argentines are snapping up clothes, electronics and caipirinhas, taking advantage of cheaper prices overseas as domestic costs in dollar terms spike on a stronger local peso. The South American country’s …

Stung by high prices, Argentines seek cheaper Nikes, Big Macs abroad Read More »

SAO PAULO (Reuters) – Brazilian investment bank BTG Pactual is set to announce the acquisition of Swiss private bank Julius Baer’s local unit in a deal worth about 1 billion reais ($163.6 million), newspaper O Globo reported on Monday. BTG Pactual will announce the deal this week, according to the report, which did not specify …

BTG Pactual to buy Julius Baer’s Brazil unit in $164 million deal, local media reports Read More »

By Isla Binnie NEW YORK (Reuters) – In the aftermath of George Floyd’s killing in 2020, investor Mellody Hobson recalls frequent calls from directors at Fortune 500 companies for references to diverse candidates for boards. Now, she says, it’s “very sporadic.” “During the George Floyd days there were dozens and dozens of them,” said Hobson, …

Analysis-Boardroom diversity stalls in the face of conservative backlash Read More »

By Jonathan Stempel (Reuters) -The U.S. Consumer Financial Protection Bureau sued a lender owned by Warren Buffett’s Berkshire Hathaway on Monday, accusing it of pushing borrowers into unaffordable mortgages to buy homes from Clayton Homes, Berkshire’s manufactured housing business. Vanderbilt Mortgage and Finance, a unit of Clayton, allegedly ignored “clear and obvious red flags” that …

US regulator sues Berkshire-owned lender for making risky home loans, missing red flags Read More »