Reuters US Business

By Svea Herbst-Bayliss NEW YORK (Reuters) – ValueAct Capital, which has pushed for changes at companies ranging from Salesforce to Microsoft, returned 39% last year, an investor familiar with the numbers said on Wednesday. The returns, among the best for activist investors, were fueled by successful bets on business software maker Salesforce, investment company KKR …

Hedge fund ValueAct Capital gained 39% in 2023 -investor Read More »

By Daniel Wiessner (Reuters) – A new Biden administration rule will likely prevent companies in a range of industries from treating some workers as independent contractors, who cost less than employees, and could create new legal headaches for app-based services that rely on gig workers. But first, the U.S. Department of Labor rule, which takes …

Factbox-Can US independent contractor rule survive legal challenges, Congress? Read More »

(Reuters) -Multiple issuers’ spot bitcoin exchange-traded funds (ETFs) are slated to begin trading on Thursday, according to notices posted on CBOE’s website on Wednesday. Among the ETFs listed for trading were Ark/21Shares Bitcoin ETF, Franklin Templeton Bitcoin ETF, WisdomTree Bitcoin Fund and Invesco/Galaxy Bitcoin ETF, according to filings. A spokesperson for CBOE said the exchange …

CBOE filings show spot bitcoin ETFs slated to begin trading on Thursday Read More »

By David Lawder BOSTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Wednesday that Inflation Reduction Act tax credits will cost more than initially estimated, citing strong demand for clean energy investments. Yellen said during a visit to Boston to promote the green energy tax credits that the President Joe Biden’s administration will come out …

Yellen says strong demand from Americans to boost cost of clean energy tax credits Read More »

By Brendan Pierson (Reuters) – A U.S. consumer group sued Starbucks on Wednesday, accusing the Seattle-based coffee chain of falsely advertising its tea and coffee as “ethically” sourced while obtaining it from farms plagued by human rights abuses in Kenya, Brazil and Guatemala. The National Consumers League said in a lawsuit filed in the Superior …

Consumer group sues Starbucks over ‘ethical’ sourcing claims Read More »

By Michael S. Derby WHITE PLAINS, N.Y. (Reuters) – Federal Reserve Bank of New York President John Williams said Wednesday that it’s still too soon to call for rate cuts as the central bank still has some distance to go on getting inflation back to its 2% target. The policy maker also said that banking …

Fed’s Williams says more work needed to bring inflation back to target Read More »

By Hannah Lang and Suzanne McGee (Reuters) -The U.S. securities regulator said someone briefly accessed its X social media account on Tuesday and posted a fake message saying it had approved exchange traded funds (ETF) for bitcoin, a move eagerly awaited by the crypto industry. However, the Securities and Exchange Commission (SEC) said it has …

SEC probing fake post on its X account, bitcoin ETFs not yet approved Read More »

(Reuters) -Tesla on Wednesday launched the restyled version of its Model 3 sedan in North America and kept the prices unchanged, according to the company’s website and a post on X. The electric car maker has removed the most expensive version of the Model 3, the “performance” variant, from its North American websites, and now …

Tesla launches restyled Model 3 in North America Read More »

By Chuck Mikolajczak NEW YORK (Reuters) -The S&P 500 and Dow lost ground and closed lower on Tuesday, pressured by a modest rise in Treasury yields as investors assess the timing and size of any Federal Reserve interest rate cuts in 2024 ahead of inflation data this week. Expectations the central bank could begin cutting …

Dow, S&P 500 retreat as yields move higher ahead of data, earnings Read More »