Reuters US Business

By Doyinsola Oladipo NEW YORK (Reuters) – Labor union Unite Here on Thursday elected its first female president in its 130-year history, as 2024 shapes up to be an important year for the union representing 275,000 workers, a majority of whom are women, across the United States and Canada. Gwen Mills was elected president uncontested …

Unite Here union elects its first female president in 130-year history Read More »

By Alexandra Alper WASHINGTON (Reuters) -The Biden administration on Thursday announced plans to bar the sale of antivirus software made by Russia’s Kaspersky Lab in the United States, citing the firm’s large U.S. customers, including critical infrastructure providers and state and local governments. Moscow’s influence over the company was found to pose a significant risk, …

Biden bans US sales of Kaspersky software over Russia ties Read More »

By Nora Eckert, Nathan Gomes and Juveria Tabassum (Reuters) -A cyber outage at retail technology and software provider CDK entered its second consecutive day on Thursday, impacting automobile dealers across the United States, the affected companies said. “The CDK outage is impacting automotive dealerships across the U.S. and Canada, including a portion of BMW Group …

CDK cyber outage hits US auto dealers for second day in a row Read More »

By Lucia Mutikani and Lindsay Dunsmuir WASHINGTON (Reuters) – First-time applications for U.S. unemployment benefits fell moderately last week, while new housing construction dropped to the lowest level in nearly four years in May, suggesting that economic activity remained moderate in the second quarter. The data on Thursday combined with tepid retail sales last month …

US labor market, housing data point to slowing economy Read More »

By Michelle Conlin NEW YORK (Reuters) – Non-bank financial institutions pose an increasing risk to America’s big banks, economists said on Thursday in a post on the New York Fed’s Liberty Street Economics blog. During times of heightened market-wide stress, demands for liquidity mount on banks as non-banks seek term loans and lines of credit. …

US big banks face growing spillover risks from non-banks Read More »

By Stephanie Kelly NEW YORK (Reuters) -Coinbase launched on Thursday a $2 million ad campaign targeted toward Latino voters and consumers, the company told Reuters, as the crypto industry makes moves this U.S. election cycle to put friendly lawmakers into office. The ad campaign comes on top of tens of millions of dollars the crypto …

Coinbase launches $2 million ad campaign targeting Latino voters in US Read More »

By Echo Wang (Reuters) -The S&P 500 and Nasdaq closed lower on Thursday, as market bellwether Nvidia retreated from earlier gains, while investors evaluated recent economic data and commentary from Federal Reserve officials to determine the timing of interest-rate cuts this year. Earlier, the S&P 500 hit the crucial 5,500-point mark for the first time …

S&P 500 closes lower after record high, weighed by chips stocks, economic data Read More »

By Byron Kaye SYDNEY (Reuters) -Mexican food chain Guzman Y Gomez served up Australia’s best initial public offering debut in three years with its shares leaping more than one-third on their first trading day on Thursday, sending an upbeat signal about investor sentiment. The Sydney startup’s stock began trading at A$29.90 at midday local time …

Guzman Y Gomez shares jump 36% in biggest Australian IPO this year Read More »