Reuters US Business

By Echo Wang (Reuters) -The S&P 500 and Nasdaq scored record closing highs on Monday as technology shares rallied on enthusiasm over artificial intelligence ahead of this week’s economic data and Federal Reserve officials’ speeches that could shed light on monetary policy. Megacaps Apple and Microsoft rebounded from early losses to end 1.97% and 1.31% …

S&P 500, Nasdaq hit record closing highs ahead of data, Fed comments Read More »

(Reuters) – Apple on Monday said it will discontinue its “buy now, pay later” (BNPL) service in the United States as it launches a new loan program. Users will be able to access installment loans offered through credit, debit cards and lenders when checking out with Apple Pay, starting later this year, the company said …

Apple to discontinue ‘buy now, pay later’ service in US as it plans new loan program Read More »

(Reuters) – The Centers for Medicare and Medicaid Services said on Monday it plans to close an advance payments program it started to help some Medicare providers and suppliers hit by service disruptions at Change, UnitedHealth’s technology unit. CMS plans to close the program on July 12 and said it will not accept new applications …

US to shut advance payments program for Medicare providers hit by Change hack Read More »

(Reuters) – Microsoft’s marketing chief of Xbox is leaving the company to join gaming platform Roblox as their chief marketing officer as part of a broader marketing shakeup in the console maker, according to an internal memo seen by Reuters on Monday. Jerret West oversaw the creation and delivery of multiple marketing campaigns, including those …

Microsoft’s Xbox marketing chief to depart for Roblox Read More »

By Hannah Lang and Pete Schroeder WASHINGTON (Reuters) – The Federal Reserve announced Friday it had ordered Evolve Bancorp Inc to bolster its risk management programs around fintech partnerships as well as anti-money laundering laws. The Fed said in a statement that a 2023 examination of the Arkansas-based bank found insufficient policies in place. It …

Fed penalizes Evolve Bank for failing to manage fintech partnership risk Read More »

By Howard Schneider and Francesco Canepa WASHINGTON (Reuters) – Six months ago the world’s major central banks were primed for a move that anyone with a credit card or hoping to buy a home or run a business would cheer: A global shift to lower interest rates that would make borrowing cheaper and loans more …

Analysis-Global central banks recalibrate as the big policy easing of 2024 fizzles Read More »

BEIJING (Reuters) – Property investment in China fell 10.1% in the first five months of 2024 from a year earlier, after dropping 9.8% in January-April, even as policymakers doubled down on efforts to support the ailing sector and shore up consumer confidence. Property sales by floor area in January-May fell 20.3% from a year earlier, …

China’s property investment slump worsens in January-May Read More »

By Daniel Leussink and Maki Shiraki TOKYO (Reuters) – Toyota Motor Chairman Akio Toyoda may be in no danger of not being re-elected at the automaker’s annual general meeting on Tuesday, but any further big drop in shareholder support could lead to increased action on governance reforms. This year’s AGM will follow scandals involving violations …

At Toyota shareholder meeting, all eyes on level of support for chairman Read More »

TOKYO (Reuters) – Economists remain split over the timing of the Bank of Japan’s next interest rate hike, according to a new Reuters poll, after the central bank’s decision to announce a quantitative tightening plan next month. The BOJ said on Friday it would start trimming its bond purchases and announce a detailed plan on …

Economists remain split on timing of BOJ’s next rate hike: Reuters poll Read More »