Reuters US Business

By Jody Godoy and Aishwarya Venugopal (Reuters) -Albertsons and Kroger terminated their $25 billion merger plan on Wednesday after courts blocked the deal, with the former suing its rival and alleging a breach of contract that led to the deal’s demise. The formal termination ends a two-year effort by the chains to combine, which regulators …

Albertsons demands billions from rival Kroger after terminating merger bid Read More »

By Nora Eckert and David Shepardson DETROIT (Reuters) -General Motors needed to exit its Cruise robotaxi business, most Wall Street analysts agreed on Wednesday, but the automaker’s decision to do so was still a disappointing end for an operation that GM had touted as a potential $50 billion revenue generator by 2030. The largest U.S. …

Wall Street mostly upbeat on GM’s decision to pull the plug on Cruise Read More »

By Stella Qiu SYDNEY (Reuters) -Australia’s jobless rate posted a shock decline to an eight-month low in November, while employment extended its strong run, evidence of a far more resilient labour market than many had expected. The surprising strength prompted markets to scale back bets for an easing from the Reserve Bank of Australia in …

Australia’s unemployment drops to 8-mth low, markets pare Feb rate-cut bets Read More »

By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Investment bank Lazard’s CEO, Peter Orszag, predicted a surge in dealmaking momentum to continue into next year, helped by private equity activity. Wall Street executives have expressed optimism that the incoming Trump administration will usher in deregulation and more openness to mergers and acquisitions. The …

Lazard expects dealmaking to pick up, tariffs to be measured Read More »

By Chibuike Oguh, Purvi Agarwal and Shashwat Chauhan NEW YORK (Reuters) -Wall Street’s benchmark S&P 500 index rose on Wednesday and a rally in tech stocks lifted the Nasdaq above the 20,000-point milestone for the first time, after a U.S. inflation report boosted expectations of a Federal Reserve interest rate cut. The Dow Jones Industrial …

Tame US inflation boosts S&P 500, Nasdaq rallies above 20,000 Read More »

By Abhirup Roy SAN FRANCISCO (Reuters) – General Motors’ decision to pull the plug on its troubled Cruise robotaxi business highlights the harsh reality facing others still in the race: it requires a long-term commitment to perfect the technology and deep pockets to fund it. Autonomous vehicle (AV) developers are hoping for more favorable regulation …

GM’s Cruise exit turns focus on challenges of scaling robotaxis Read More »

By Siddharth Cavale NEW YORK (Reuters) – (This Dec. 9 story has been corrected to attribute quotes to Ben Hackett of Hackett Associates consulting firm, not Jonathan Gold, vice president for supply chain and customs policy at the NRF, in paragraphs 3 and 8) The United States’ busy ports kicked activity up a notch in …

US importers set to accelerate shipments to record levels on tariff, strike threats Read More »

(Reuters) -Meta-owned Instagram said its services were back online after thousands of users experienced technical issues accessing its platform on Wednesday, according to outage tracking website Downdetector.com. At the peak of the outage, which started around 12:50 p.m. ET., more than 100,000 incidents were reported with Facebook and nearly 70,000 with Instagram. The number of …

Meta’s Instagram says services back up after outages Read More »