Reuters US Business

By Karen Freifeld (Reuters) -Taiwan Semiconductor Manufacturing Company notified the U.S. that one of its chips had been found in a Huawei product after tech research firm TechInsights took apart the product, a person familiar with the matter said, revealing a possible violation of export restrictions on the Chinese company. The teardown was of Huawei’s …

Exclusive-TSMC told US of chip in Huawei product after TechInsights finding, source says Read More »

By Dietrich Knauth NEW YORK (Reuters) – Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for $23.5 million in cash and over $63 million in debt relief, canceling its plans for an open-market auction of its assets. The food storage and kitchen products company announced the deal at …

Tupperware cancels auction, agrees to lender takeover Read More »

By Jonathan Stempel (Reuters) – Meta Platforms and Chief Executive Mark Zuckerberg won the dismissal of a lawsuit claiming they misled shareholders in Meta’s proxy statement about their ability to ensure the safety of children who use Facebook and Instagram. In a decision on Tuesday, U.S. District Judge Charles Breyer in San Francisco said the …

Meta Platforms defeats shareholder lawsuit over child safety claims Read More »

(Reuters) -Australia’s corporate regulator is taking QBE to court, alleging that the country’s biggest insurer by gross written premiums misled more than half a million customers about discounts on various products during a five-year period. The Australian Securities and Investments Commission (ASIC) said in a statement on Wednesday that QBE Insurance (Australia), a member of …

Australia sues insurer QBE over pricing discounts, shares slip Read More »

(Reuters) -JPMorgan Chase CEO Jamie Dimon would consider a government role, perhaps that of the Treasury Secretary, if Democratic Vice President Kamala Harris wins the U.S. presidential election, the New York Times reported on Tuesday. Dimon is not making his stance known publicly for fear of retribution should Donald Trump, the Republican presidential candidate, win, …

JPMorgan chief Dimon would consider a role in Harris administration, NYT reports Read More »

By Aishwarya Venugopal (Reuters) -Starbucks Corp suspended its forecast through the next fiscal year as new CEO Brian Niccol looks to turn around the coffee giant struggling with falling demand for its pricey drinks. The coffee chain also reported preliminary fourth-quarter results, saying same-store sales, net revenue, and profit declined, weighed down by weak demand …

Starbucks suspends annual forecast as new CEO prepares turnaround plan Read More »

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl (Reuters) -U.S. stocks ended little changed on Tuesday, but the Nasdaq eked out a modest gain while investors kept an eye on Treasuries yields and awaited more earnings to assess the health of American companies. “The last couple of days, the market has been trying to …

Wall St closes little changed while investors digest yields, earnings Read More »

By Douglas Gillison (Reuters) -The top U.S. consumer finance watchdog on Tuesday unveiled long-awaited rules that would make it easier for consumers to switch between financial services providers, a move the agency said was aimed at boosting competition. The Consumer Financial Protection Bureau’s “open banking” rule governs data sharing between fintech firms and traditional banks, …

‘Open banking’ rules for consumer data unveiled by US watchdog Read More »

(Reuters) -Baker Hughes beat Wall Street estimates for third-quarter profit on Tuesday, helped by sustained demand for its drilling equipment and oilfield technology in international markets. The robust activity in several international markets have helped oilfield services companies offset some of the declines in North America. “We remain confident in achieving our full-year EBITDA guidance …

Baker Hughes tops profit estimates on international drilling demand Read More »