Reuters US Business

(Reuters) – 3M said on Tuesday that the annual compensation packages of certain executives, including that of former CEO Mike Roman, did not receive the requisite number of favorable shareholder votes, on an advisory basis. Roman’s 2023 total compensation was $16.4 million, compared to about $14 million in 2022, even as the company dealt with …

3M shareholders vote down executives’ pay packages in annual meeting Read More »

SAN FRANCISCO (Reuters) – A federal court said that Elon Musk must testify again in the U.S. Securities and Exchange Commission’s investigation into his $44 billion takeover of Twitter, according to a court filing on Tuesday. The SEC sued Musk in October to compel the Tesla and SpaceX CEO to testify after he refused to …

US federal court enforces SEC’s subpoena to depose Elon Musk Read More »

By Sinéad Carew and Bansari Mayur Kamdar (Reuters) – The Nasdaq scored a record closing high on Tuesday and the S&P 500 and the Dow also advanced as Federal Reserve Chair Jerome Powell reassured investors while they digested Tuesday’s data and waited for Wednesday’s crucial consumer inflation report. U.S. producer prices increased more than expected …

Nasdaq hits record close after Powell reassures investors, CPI in focus Read More »

(This May 10 story has been corrected to fix the CPI expectation number to say 0.4%, not 0.3%, in paragraph 7) By Lewis Krauskopf NEW YORK (Reuters) – A strong earnings season and blockbuster reports from tech industry titans fueled a U.S. stock market rebound from the first real swoon of 2024. Next week’s inflation …

Earnings bolster US stocks but crucial inflation report looms Read More »

By Douglas Gillison and Pete Schroeder WASHINGTON (Reuters) – The head of the Federal Deposit Insurance Corporation plans to tell Congress he will establish a new, independent office devoted to professional conduct after an external review found comprehensive mistreatment of employees at the U.S. bank regulator under his watch. FDIC Chairman Martin Gruenberg said in …

US FDIC’s Gruenberg to create office to address workplace conduct issues Read More »

By Medha Singh (Reuters) -Retail investor darlings GameStop and AMC soared on Tuesday, as posts from “Roaring Kitty” Keith Gill raised chatter about the return of the central figure behind the 2021 meme stock frenzy. Shares of both U.S. video game retailer GameStop and those of the world’s largest theater chain AMC more than doubled …

GameStop shares soar again as ‘Roaring Kitty’ brings back meme stock mania Read More »

(Reuters) – U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. China relies on the U.S. for agricultural …

Factbox-What the US-China trade looks like by sector Read More »

(Reuters) -Kraft Heinz is exploring a sale of its Oscar Mayer meats business that could fetch anything between $3 billion to $5 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter. The Oscar Mayer business, known for hot dogs, bacon, ham, and bologna products, has had to deal with declining …

Kraft Heinz exploring sale of Oscar Mayer business, WSJ reports Read More »