Reuters US Business

By Juby Babu (Reuters) -E-commerce firm eBay forecast profit for the crucial holiday quarter below Wall Street estimates amid ongoing macroeconomic uncertainty, sending its shares down 8.5% after the bell on Wednesday. Tariffs and changes to certain customs requirements in the U.S. have created significant uncertainty for small businesses, while concerns over escalating prices for …

EBay’s holiday-quarter profit forecast disappoints, shares fall nearly 9% Read More »

By AJ Vicens (Reuters) -Hackers working for an unnamed nation-state breached networks at Ribbon Communications, a key U.S. telecommunications services company, and remained within the firm’s systems for nearly a year without being detected, a company spokesperson confirmed in a statement on Wednesday.  Ribbon Communications, a Texas-based company that provides technology to facilitate voice and …

US company with access to biggest telecom firms uncovers breach by nation-state hackers Read More »

(Reuters) -Mastercard is in late-stage talks to acquire crypto startup Zerohash for between $1.5 billion and $2 billion, Fortune reported on Wednesday, citing five sources familiar with the matter. If the deal goes through, it would be Mastercard’s one of the biggest bets yet on stablecoins, the report said, adding that the talks might still …

Mastercard poised to buy crypto firm Zerohash for nearly $2 billion, Fortune reports Read More »

By David Shepardson and Nora Eckert DETROIT (Reuters) -General Motors said on Wednesday it will cut U.S. electric vehicle and battery production and 1,200 factory jobs at its EV plant in Detroit along with 550 jobs at an Ohio battery plant as the automaker responds to a significant slowdown in demand for its battery cars. …

GM to cut EV, battery production and 1,200 jobs at Detroit plant Read More »

By Michael S. Derby (Reuters) -The Federal Reserve on Wednesday said it is ending the drawdown of its still substantial balance sheet amid evidence money market liquidity conditions have begun tightening and bank reserve levels dropping. Instead of allowing up to $5 billion in Treasury securities to mature each month and not be replaced, the …

Fed winding down balance sheet contraction amid tightening money markets Read More »

By Lucia Mutikani WASHINGTON (Reuters) -Contracts to purchase previously owned U.S. homes were unexpectedly unchanged in September, likely as worries about the labor market and economic uncertainty kept prospective buyers on the sidelines despite declining mortgage rates. The flat reading in pending home sales last month, which was reported by the National Association of Realtors …

US pending home sales flat in September; job market worries likely dissuading buyers Read More »