Reuters US Business

ATLANTA (Reuters) -Atlanta Federal Reserve Bank President Raphael Bostic said on Friday he now expects just a single quarter-point interest rate cut this year instead of the two he had projected, citing persistent inflation and stronger-than-anticipated economic data. “I’m definitely less confident than I was in December” that inflation will continue to fall towards the …

Fed’s Bostic scales back to single rate cut on inflation concerns Read More »

OTTAWA/TORONTO (Reuters) -Canada’s banking regulator on Friday said lenders will have to limit the number of mortgage borrowers with highly leveraged loans in their portfolios as Canadians grapple with the burden of huge debt in a challenging economic environment. In an emailed statement, the Office of the Superintendent of Financial Institutions (OSFI) said it is …

Canada regulator to cap number of mortgages to highly indebted borrowers Read More »

(Reuters) – Nasdaq has notified B. Riley Financial of non-compliance with the exchange operator’s listing rules due to a delay in the filing of its annual report, the boutique investment bank said in a statement on Friday. The Los Angeles-based company said on Monday it was working with auditors to complete and file its annual …

B. Riley gets Nasdaq warning after annual report delay Read More »

By Savyata Mishra (Reuters) -Nike shares tumbled 8% on Friday after the Air Jordan maker warned of lower sales in its first half as it replaces older styles with trendier sneakers, while Lululemon Athletica sank 17% as demand waned for its premium athleisure. While Lululemon’s gloomy forecast spotlights the challenges for retailers as customers reduce …

Nike, Lululemon sink as annual forecasts disappoint Read More »

By Jody Godoy (Reuters) – Ex-Lordstown Motors Corp CEO Stephen Burns settled with the U.S. Securities and Exchange Commission on Friday over his statements about demand for the electric vehicle maker’s flagship truck, the Endurance. The SEC said in the lawsuit filed in federal court in Washington that Burns misrepresented preorders Lordstown had received for …

Ex-Lordstown Motors CEO settles with SEC over statements Read More »

By Fergal Smith (Reuters) -Canada’s commodity-linked main stock index ended lower on Friday as the U.S. dollar strengthened but the index still notched its sixth straight weekly gain. The Toronto Stock Exchange’s S&P/TSX composite index ended down 103.18 points, or 0.5%, at 21,984.08, after posting on Tuesday its first record high closing level in two …

TSX notches longest weekly winning streak in three years Read More »

(Reuters) – Walmart-backed digital marketing company Ibotta has filed to go public in the United States, it said in a filing on Friday. The Denver-based company, which counts PepsiCo, Nestle and Coca-Cola among its more than 850 clients, did not disclose the size of the offering. Its revenue grew 52% year-on-year to $320 million in …

Walmart-backed tech firm Ibotta files for US IPO Read More »