Reuters US Business

By Tom Hals (Reuters) – Jamie Sprayregen, one of the top U.S. bankruptcy lawyers, is leaving Kirkland & Ellis’s pre-eminent corporate restructuring practice for Hilco Global, a private financial advisory firm, Hilco said in a statement on Tuesday. Sprayregen built Kirkland’s restructuring practice over three decades into the go-to firm for distressed companies, including casino …

Top U.S. bankruptcy attorney Sprayregen departs Kirkland for Hilco Read More »

By Katherine Masters and Abigail Summerville NEW YORK (Reuters) -America’s biggest publicly traded department store chains could be set for private-equity or hedge-funds ownership, dramatically changing the retail landscape in the United States. Investments in retail and consumer companies accounted for just 7% of the total U.S. private equity deal volume of $2.6 trillion in …

Nordstrom, Macy’s deals could put private ownership back in vogue for US retailers Read More »

By Isla Binnie NEW YORK (Reuters) -A Texas school fund told BlackRock on Tuesday it was terminating its contract to manage around $8.5 billion of state money, accusing the investment giant of boycotting fossil fuel energy producers, who represent a large part of the state’s industry. BlackRock has denied it is engaged in any boycott, …

Texas schools fund pulls $8.5 billion from BlackRock over ESG investing Read More »

By Sinéad Carew and Bansari Mayur Kamdar (Reuters) -Wall Street’s three major indexes closed higher on Tuesday after shares in hotshot chipmaker Nvidia shook off early losses and investors looked ahead to the Federal Reserve’s policy meeting conclusion on Wednesday for clues on interest rate policy. Shares in Nvidia pulled out of the red to …

Wall Street advances with Nvidia and Fed meeting in focus Read More »

By Abigail Summerville and Svea Herbst-Bayliss NEW YORK (Reuters) -Macy’s Inc told Reuters on Tuesday that it will open its books to Arkhouse and Brigade Capital, a potential breakthrough in the investment firms’ $6.6 billion bid to take the U.S. department store operator private. Macy’s, which had snubbed Arkhouse and Brigade’s previous acquisition overtures, has …

Exclusive-Macy’s opens its books in company sale talks Read More »

(Reuters) -Super Micro Computer said on Tuesday it will sell 2 million shares that could fetch around $2 billion, sending the AI server maker’s shares 11% lower. The San Jose-based company’s shares have more than tripled since January, making the sale of equity a lucrative option to raise funds. However, buying the shares following their …

Super Micro dips as AI server maker looks to sell shares Read More »

By Tatiana Bautzer NEW YORK (Reuters) – Wall Street’s cash bonuses fell 2% to an average $176,500 last year as financial firms took a more cautious approach to compensation, according to an estimate by New York State Comptroller Thomas DiNapoli. The lower payouts came even as industry profits climbed 1.8% in 2023. “Wall Street’s average …

Wall Street bonuses fell 2% for 2023, New York Comptroller says Read More »

(Reuters) -UnitedHealth Group said on Monday it has advanced payments of over $2 billion so far to provide assistance to healthcare providers, financially affected following a cybersecurity attack on its technology unit, Change Healthcare. The company said it will start releasing its medical claims software on Monday and it will become available to “thousands of …

UnitedHealth says advanced over $2 billion in payments to providers Read More »

By Lewis Krauskopf NEW YORK (Reuters) – U.S. stocks have climbed this year despite rising Treasury yields, but equities could become more sensitive if yields push higher from current levels, Morgan Stanley strategists said on Monday. Rising yields tend to pressure equity valuations, but this year “multiples have remained elevated in the face of rising …

US yields nearing level that could pressure stocks, Morgan Stanley says Read More »

By Amanda Cooper and Rae Wee LONDON/SINGAPORE (Reuters) -Bitcoin fell by as much as 5.7% on Tuesday, on track for its largest one-day drop in two weeks, as a wave of selling hit cryptocurrencies and other risk assets, such as stocks. The price was last down 4.2% at $64,550, having dropped to a two-week low …

Bitcoin slides 5%, while altcoins sparkle Read More »