Reuters US Business

By Saeed Azhar TORONTO (Reuters) – Goldman Sachs’ trading revenue will probably slip 10% in the third quarter because of sluggish conditions last month, its CEO David Solomon said on Monday. Given “a more challenging macro environment, particularly in the month of August, that business is trending down close to 10%,” Solomon told investors at …

Goldman Sachs CEO says trading revenue is heading for a 10% slide in 3Q Read More »

By Sinéad Carew and Shubham Batra (Reuters) -Wall Street’s three major indexes gained more than 1% on Monday as investors looked for bargains after the previous week’s sell-off while they also waited for inflation reports in coming days and the Federal Reserve’s next policy decision next week. Investors had fled from equities last week when …

Wall Street indexes bounce back as investors await inflation data, Fed rate cuts Read More »

(Reuters) -Oracle beat first-quarter revenue estimates on Monday, boosted by growing demand for its cloud offerings from companies deploying artificial intelligence. Shares of the Austin, Texas-based company rose 5.2% in trading after the bell. Oracle’s push into the cloud computing market is showing promising results and the company has started narrowing the gap with market …

Oracle beats quarterly revenue estimates as demand for its cloud services rises Read More »

(Reuters) -Hedge fund Starboard Value confirmed on Monday it had filed a shareholder resolution to eliminate the dual-class share structure that allows Rupert Murdoch to control News Corp, the publisher of the Wall Street Journal. Starboard announced its move only days after Reuters exclusively reported that it had filed the proposal to abolish the stock …

Starboard proposes that News Corp eliminates dual-class shares Read More »

(Reuters) – U.S. discount home goods retailer Big Lots said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital, as it has initiated bankruptcy proceedings under Chapter 11. Big Lots listed its assets and liabilities in the range of $1 billion to $10 …

Big Lots sells business to Nexus Capital as it begins bankruptcy proceedings Read More »

By Selena Li and Donny Kwok HONG KONG (Reuters) -China Renaissance shares plunged as much as 72% on Monday after ending a 17-month suspension triggered by a probe involving the boutique investment bank’s former CEO and star dealmaker Bao Fan, with recent losses weighing on its outlook. The sell-off erased as much as HK$3 billion …

China Renaissance plunges on trade resumption as star dealmaker’s absence clouds prospects Read More »

By Allison Lampert, David Shepardson (Reuters) -Boeing said on Sunday it has reached a tentative agreement with a union representing more than 32,000 workers in the U.S. Pacific Northwest, in a deal that could help avert a possible crippling strike as early as Sept. 13. If approved, the proposed four-year contract, which includes a general …

Boeing reaches tentative labor deal with 25% pay hike, new plane commitment Read More »

(Reuters) – Italian app developer Bending Spoons will lay off 75% of file-sharing platform WeTransfer staff, CEO Luca Ferrari said in a statement on Sunday. Ferrari said “I won’t be more specific at this stage because the layoff hasn’t been fully defined yet,” in an emailed statement to Reuters. The Italy-based app company made its …

Bending Spoons to lay off 75% of WeTransfer staff post deal, CEO says Read More »

(Reuters) – Satellite TV provider DirecTV has filed a complaint with the U.S. Federal Communications Commission (FCC), accusing Walt Disney of failing to negotiate in good faith and engaging in anticompetitive behavior, the company said on Sunday. In the complaint, DirecTV said Disney has imposed unreasonable conditions on the renewal of their distribution agreement, including …

DirecTV files FCC complaint against Disney for anti-competitive practices Read More »