Reuters US Business

By Michael S. Derby NEW YORK (Reuters) -The Federal Reserve on Wednesday announced changes to its nearly two-year-old ethics system, expanding who is covered by it as well as enhancing how the Fed can ensure its top workers are in compliance. In a press release issued by the Federal Open Market Committee at the close …

Federal Reserve expands investing restrictions to more of top staff Read More »

By Stephen Culp NEW YORK (Reuters) -U.S. stocks tumbled on the last trading day in January after the Federal Reserve held interest rates steady while dashing hopes for interest rate cut as soon as March. The three major U.S. stock indexes were already weighed down by weakness in tech and tech-adjacent megacap stocks the day …

Wall St ends lower after Fed holds rates steady, rules out March rate cut Read More »

(Reuters) -Traders on Wednesday dumped bets the Federal Reserve will begin a series of interest-rate cuts as soon as March after Fed Chair Jerome Powell said that timing was not likely, and now are betting on a May start to rate cuts.    “I don’t think it’s likely that the committee will reach a level …

Fed seen starting rate cuts in May, not March, after Powell comments Read More »

By Stephen Nellis (Reuters) – Qualcomm on Wednesday forecast fiscal second-quarter profit slightly above Wall Street estimates and sales in line with market expectations, as a new line of AI-enabled chips helps power it out of last year’s smartphone slump. Qualcomm predicted sales and adjusted profit with a midpoint of $9.30 billion and $2.30 per …

Qualcomm forecasts quarterly profit above estimates, shares rise Read More »

By Tom Hals WILMINGTON (Reuters) -A Delaware judge tossed out Elon Musk’s record-breaking $56 billion Tesla pay package on Tuesday, calling the compensation granted by the EV maker’s board “an unfathomable sum” that was unfair to shareholders. Shares of Tesla dropped about 3% in extended trade, and some investors seized on the ruling in hopes …

Judge voids Elon Musk’s ‘unfathomable’ $56 billion Tesla pay package Read More »

(Reuters) – Electronic Arts missed estimates for quarterly bookings on Tuesday, as lower spending and stiff competition hurt demand for its gaming titles. Shares of the company fell around 2% in extended trading. Still-high interest rates causing gamers to tighten spending and stiff competition in the video game industry have hit the sales for EA’s …

Electronic Arts misses quarterly bookings estimates on weak consumer spending Read More »

(Reuters) – Chipmaker Advanced Micro Devices forecast first-quarter revenue below market estimates on Tuesday, as it grapples with uncertain demand for its AI server chips and a cyclical slump in sales of its programmable processors. Shares of the Santa Clara, California-based company fell nearly 6% in trading after the bell. As companies look to develop …

Chipmaker AMD forecasts quarterly revenue below estimates Read More »

(Reuters) – Nasdaq is planning to cut hundreds of jobs as it integrates software provider Adenza into its business — an acquisition it closed last year, Bloomberg News reported on Tuesday, citing people familiar with the matter. A spokesperson for the Nasdaq did not immediately respond to a request for comment. (Reporting by Gnaneshwar Rajan …

Nasdaq to cut hundreds of jobs – Bloomberg News Read More »

(Reuters) – Mondelez International posted a rise in fourth-quarter sales on Tuesday, helped by resilient demand over the holiday season for the Cadbury parent’s chocolates and salty crackers. The company’s net revenue rose 7.1% to about $9.31 billion in the quarter ended Dec. 31 from $8.70 billion a year earlier, meeting analysts’ average estimate, according …

Cadbury-parent Mondelez posts jump in quarterly sales Read More »