Reuters US Business

By Georgina McCartney HOUSTON (Reuters) – Oilfield service companies ramped up hiring in November, adding 1,890 jobs in the sector, according to data from trade group Energy Workforce & Technology Council released on Monday. WHY IT’S IMPORTANT Oilfield service hiring can serve as an indicator of the health of the sector. Companies bringing on more …

Oilfield service companies add more jobs in November, trade group says Read More »

(Reuters) – The U.S. watchdog for consumer finance on Monday announced the start of the rulemaking process to protect victims of domestic violence and elder abuse, saying those who suffer such mistreatment can be coerced into taking on debt or opening bank accounts. WHY IT MATTERS Unlike other U.S. financial regulators, the Consumer Financial Protection …

To help abuse survivors, Biden watchdog launches rulemaking Read More »

MUNICH, Germany (Reuters) – Germany’s Allianz said on Monday it plans to distribute at least three-quarters of its net profit to shareholders via dividends and share buybacks over the next three years. The Munich-based insurer said it would maintain its dividend policy of distributing 60% of the net profit after minority interests directly. Additionally, from …

Allianz wants to redistribute three quarters of profit to shareholders Read More »

(Reuters) – OpenAI said on Monday it has released its artificial intelligence model, which creates video from text, to ChatGPT Plus and Pro users, expanding its foray into multimodal AI technologies. The Microsoft-backed company, which kicked off a generative AI craze with the launch of its ChatGPT chatbot in November 2022, aims to target similar …

OpenAI releases text-to-video model Sora for ChatGPT Plus and Pro users Read More »

(Reuters) – Gold miner Newmont let go of nearly a dozen managers, including a member of its executive team, as part of a corporate overhaul, Bloomberg News reported on Monday, citing people familiar with the matter. The report said that the company had initiated plans to dismiss one executive and at least 10 senior managers, …

Newmont lays off nearly a dozen managers, plans to merger businesses, Bloomberg News reports Read More »

(Reuters) -Crown Laboratories would buy the anti-wrinkle injection maker Revance Therapeutics at a roughly 50% lower price compared to an original agreement signed in August, the companies said on Monday, sending the latter’s stock tumbling 20%. The lowered takeover price follows months of delay in the deal after Revance, which makes a rival to AbbVie’s …

Revance agrees to lower take-private offer by Crown Labs Read More »

(Reuters) – Citigroup, previously the only Wall Street brokerage forecasting a 50 basis point rate cut by the U.S. Federal Reserve, has now aligned with its peers in expecting a quarter point reduction at the central bank’s December policy meeting. Citigroup’s revision came after data on Friday showed nonfarm payrolls rose by 227,000 jobs last …

Citigroup joins Wall Street peers in forecasting 25 bps rate cut by Fed in December Read More »