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(Reuters) – Wall Street titan Goldman Sachs has received a license to set up its regional headquarters in Saudi Arabia’s Riyadh, according to a person familiar with the matter. The move comes months after the kingdom’s cabinet approved a new set of rules under which companies without a regional headquarters in Saudi Arabia risk losing lucrative …

Goldman Sachs gets license for regional headquarters in Saudi Arabia, source says Read More »

LONDON (Reuters) – Russian metals giant Nornickel plans a joint project for construction of a platinum group metals (PGMs) refinery in Bahrain, a source familiar with the matter told Reuters on Thursday. Nornickel is the world’s largest producer of palladium and a major producer of platinum, accounting for 41% and 12% of global mine output, …

Russia’s Nornickel plans to build a PGMs refinery in Bahrain, source says Read More »

(Reuters) – The Federal Reserve may need to wait longer to cut interest rates because even with April’s slightly cooler inflation reading there is continued upward pressure on prices, Atlanta Fed President Raphael Bostic said on Thursday. “We’re not past the worry point in terms of inflation getting back to our target,” Bostic said during a …

Fed’s Bostic says U.S. not past ‘worry point’ for inflation Read More »

By Akash Sriram and Hyunjoo Jin (Reuters) -Tesla has left out its goal of delivering 20 million vehicles a year by 2030 in its latest impact report published on Thursday, another sign the company was moving away from electric cars as it shifts focus to robotaxis. CEO Elon Musk had said in 2020 that Tesla …

Tesla drops delivery goal of 20 million vehicles a year from latest report Read More »

(Reuters) -CVS Health Corp has been seeking a private equity partner to fund growth at Oak Street Health, a primary care provider it bought a year ago, Bloomberg News reported on Thursday. The company has been working with financial advisers to help find capital to back new clinics that will be opened by Oak Street, …

CVS seeks private equity funding for Oak Street Health, Bloomberg News reports Read More »

(Reuters) – Ross Stores on Thursday posted first-quarter results above Wall Street estimates and raised its annual profit forecast, as shoppers pivot to off-price retailers prompted by sticky inflation that have squeezed their budgets. The California-based company’s shares jumped nearly 7% to $141 in extended trading, after the company also posted an increase of 205 …

Ross Stores beats quarterly estimates on steady demand for discounted products Read More »

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks ended lower on Thursday, even as a strong revenue forecast for Nvidia fueled a surge in its shares, but that was overshadowed by economic data showing inflation was still a concern that could delay any Federal Reserve rate cuts. Nvidia shares jumped 9.32% to close above the …

Stocks fall despite Nvidia boost as inflation concerns weigh Read More »

BERLIN (Reuters) – Goldman Sachs has chosen Jens Hofmann and Tibor Kossa, both working for the bank, as new co-heads of its Germany and Austria investment banking business, one of the top U.S. banks said in a memo seen by Reuters on Thursday. Hofmann joined the company in 1994 as an analyst and was promoted …

Goldman Sachs picks insiders to co-run German, Austrian investment banking Read More »

By David Shepardson WASHINGTON (Reuters) – The US Commerce Department said on Thursday it plans to grant $75 million to Absolics for constructing a 120,000-square-foot facility in Georgia that will supply advanced materials to the country’s semiconductor industry. The planned award to the semiconductor packaging provider, an affliate of SKC Co, which in turn is …

US plans $75 million grant to Absolics for advanced chip packaging Read More »