Reuters US Business

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks retreated on Tuesday and the Dow dropped for a ninth straight session, as investors exercised caution ahead of the Federal Reserve’s last policy announcement of the year after economic data indicated consumer spending remained solid. U.S. retail sales increased more than expected in November, buoyed in part …

Stocks fall, Dow drops for 9th straight session with Fed decision due Read More »

By Rishav Chatterjee (Reuters) -Australia’s Insignia Financial has rejected Bain Capital’s A$2.67 billion ($1.69 billion) takeover bid, saying the offer does not provide fair value to its shareholders, creating a barrier for the buyout giant’s Asia expansion plans. Bain had earlier in the month offered A$4 apiece for the 178-year-old money manager, reigniting a strong …

Bain’s $1.7 billion offer rebuffed by Australia’s Insignia on valuation concerns Read More »

By Stephanie Kelly and Jarrett Renshaw NEW YORK (Reuters) -A U.S. government funding bill released on Tuesday included a plan that would allow year-round sales of gasoline with a higher ethanol blend, a major win for the corn and ethanol lobbies. The inclusion would mark a hard-fought victory for the ethanol industry, which has wanted …

US funding bill includes plan to allow year-round E15 gasoline sales Read More »

By Pete Schroeder WASHINGTON (Reuters) – The chairman of a leading U.S. banking regulator said Tuesday his agency is considering legal action against six former officers and eleven former directors of Silicon Valley Bank. Federal Deposit Insurance Corporation Chairman Martin Gruenberg said in a statement that the agency was considering suing the former bank executives, …

US bank regulator considering legal action against former SVB executives Read More »

NEW YORK (Reuters) – About half of the United States is at increased risk of power supply shortfalls in the next decade that could lead to outages and electricity conservation measures, the North American Electric Reliability Corporation said on Tuesday. As U.S. power consumption rises from AI data centers and the electrification of buildings and …

Half US at high risk of power shortfall in next decade, regulator says Read More »

(Reuters) – New Zealand’s Commerce Commission on Wednesday issued a draft decision to reduce the fees that local businesses pay to accept Visa and Mastercard payments. The proposal would lead to an annual reduction of around NZ$260 million ($149.50 million) in the largest component of the fees charged to New Zealand businesses for receiving Visa …

NZ Commerce Commission cuts local companies’ fees for Visa, Mastercard payments Read More »

(Reuters) – Mastercard said on Tuesday that its board has approved a new share repurchase program, authorizing the company to buy back up to $12 billion of its Class A shares. The payments processing behemoth also raised its quarterly dividend to 76 cents per share over previous dividend of 66 cents. The company said its …

Mastercard to buy back up to $12 billion shares Read More »

(Reuters) – Companies ranging from finance majors to Silicon Valley behemoths are pledging donations to Donald Trump’s inaugural fund as business leaders rush to ensure a favorable relationship with the U.S. president-elect after his November election win. Trump is set to take office in January and executives are hoping a positive rapport with his administration, …

Factbox-Corporate America pledges donations for Trump’s inauguration Read More »

(Reuters) – Meta Platforms has agreed to a A$50 million settlement ($31.85 million), Australia’s privacy watchdog said on Tuesday, closing long-drawn, expensive legal proceedings for the Facebook parent over the Cambridge Analytica scandal. The Office of the Australian Information Commissioner had alleged that personal information of some users was being disclosed to Facebook’s personality quiz …

Facebook-parent Meta settles with Australia’s privacy watchdog over Cambridge Analytica lawsuit Read More »