Reuters US Business

By Medha Singh and Hannah Lang (Reuters) -MicroStrategy is planning to raise capital through convertible bonds offering to buy bitcoin for the second time in less than 10 days, as the aggressive crypto investor looks to increase its exposure to the booming cryptocurrency. The software firm said after markets closed on Wednesday that it was …

MicroStrategy plans second convertible debt offering this month to buy more bitcoin Read More »

(Reuters) – Adobe forecast second-quarter revenue below analysts’ estimates on Thursday following stiff competition and weak demand for its artificial intelligence-integrated photography, illustration and video software amid a tough economy. The company’s shares fell more than 10% after the bell. Companies and individuals have shifted focus to cutting costs amid high interest rates and a …

Adobe forecasts downbeat second-quarter revenue Read More »

By Caroline Valetkevitch NEW YORK (Reuters) -U.S. stocks dropped on Thursday, with chipmaker stocks extending losses for a second day, and as a jump in producer prices left investors wondering if the Federal Reserve might wait longer than expected to cut interest rates. Data showed U.S. producer prices increased more than expected in February as …

Wall St ends down after PPI data and as chipmakers fall Read More »

By Valerie Volcovici WASHINGTON (Reuters) -The U.S. export credit agency on Thursday voted to approve a $500 million loan guarantee for an oil and gas drilling project in Bahrain, testing a U.S. climate pledge to stop backing projects that expand the use of fossil fuels. The board of directors at the Export-Import Bank of the …

US export credit agency approves support for Bahrain oil project Read More »

By Emma-Victoria Farr FRANKFURT (Reuters) -Private equity firm KKR has launched a 2.8 billion-euro ($3.06 billion) takeover offer for German electricity and energy producer Encavis, the company said on Thursday. Elbe Bidco, an investment vehicle owned by KKR is to offer a cash consideration of 17.50 euros ($19.13) per Encavis share. Encavis shares were up …

KKR launches $3 billion public takeover offer for Encavis Read More »

By Sriparna Roy and Patrick Wingrove (Reuters) -The U.S. government on Wednesday said it has opened an investigation into the cyberattack at UnitedHealth Group’s Change Healthcare to find out whether there was a breach of protected health data and if the company followed U.S. health privacy law. It is the first announcement of a probe …

US health department opens probe into UnitedHealth hack Read More »

WASHINGTON (Reuters) – The FAA on Wednesday granted SpaceX a license to test-launch the company’s Starship rocket system from Texas, according to the agency’s website, paving the way for another early demonstration of a spacecraft crucial to Elon Musk’s satellite launch business and NASA’s moon program. “The FAA determined SpaceX met all safety, environmental, policy …

SpaceX’s third Starship test flight gets FAA green light Read More »

By Brendan Pierson (Reuters) – UnitedHealth Group has already been hit with at least six class action lawsuits accusing it of failing to protect millions of people’s personal data from last month’s hack of Change Healthcare, its payment processing unit, with more lawsuits likely to come. In a motion filed late on Tuesday in Washington, …

Class action lawsuits pile up over UnitedHealth data breach Read More »

(Reuters) – Apparel maker Under Armour said on Wednesday that founder vwill return to the company as CEO, effective April 1. The company’s shares rose 6% to $8.26 after the bell. Plank founded Under Armour in 1996 and served as the company’s top boss till 2019. In January 2020, Plank was appointed as the company’s …

Under Armour’s founder Plank to return as CEO Read More »