WASHINGTON (Reuters) – Amazon.com asked a federal court on Friday to dismiss a U.S. government antitrust lawsuit which accuses the company of using illegal strategies to boost profits at its online retail empire, including an algorithm that allegedly pushed up prices by more than $1 billion. In its motion to dismiss, Amazon said the U.S. …
Amazon asks judge to dismiss FTC lawsuit, says no consumer harm shown Read More »
By Lewis Krauskopf NEW YORK (Reuters) – The S&P 500 is poised for solid gains next year on strong earnings growth and a broadening of the stock market’s rally, strategists at Citigroup said on Friday. The bank’s “base case” calls for the benchmark S&P 500 to end 2024 at 5,100, an 11% gain from current …
Citi strategists upbeat on US stocks in 2024, fueled by earnings Read More »
By Amina Niasse NEW YORK (Reuters) – The Biden administration’s infrastructure spending blitz has put more construction laborers on the road for work this year, fueling a race by extended-stay hotel operators to win their business. Data from Navan, a corporate travel management company, shows construction industry extended-stay lodging bookings are up 120% in the …
US infrastructure building boom revs up extended-stay market Read More »
By Howard Schneider WASHINGTON (Reuters) -New wage and labor market data released on Friday bolster what Federal Reserve officials have come to both hope and suspect: That rising worker pay and increased labor supply are helping the U.S. economy grow at a modest pace without fanning the inflationary pressures the Fed is trying to squelch. …
US wage growth, once an inflation risk, may now be the prop a soft landing needs Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job growth accelerated in November while the unemployment rate fell to 3.7%, signs of underlying labor market strength that suggested financial market expectations of an interest rate cut early next year were probably premature. The Labor Department’s closely watched employment report on Friday, however, did not change views …
Solid US job growth, drop in unemployment rate underscore labor market resilience Read More »
By Matt Tracy WASHINGTON (Reuters) – More U.S. commercial property owners are expected to turn to commercial mortgage-backed security (CMBS) lenders next year instead of banks, according to a new Moody’s report. Elevated interest rates, volatility in property values and weakened cash flows have led to tightened lending standards by banks and other commercial real …
More US commercial property owners to tap securities market in 2024 -Moody’s Read More »
(Reuters) -Starbucks has reached out to the union representing hundreds of its stores in the United States as the coffee chain looks to mend its strained relationship with some of its frontline employees, according to a letter seen by Reuters on Friday. Last month, Starbucks had told Reuters in an email that the Workers United …
Starbucks to resume union talks to mend strained ties with employees Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -Trading in the options of Cerevel Therapeutics Holdings Inc experienced an unusual surge along with its stock price in the days before Wednesday’s announcement that AbbVie would buy the drug developer in a multi-billion dollar deal. AbbVie said after the market close on Wednesday it would buy Cerevel …
Cerevel options trading surge before AbbVie deal news raises eyebrows Read More »
(Reuters) – Australia energy companies Woodside and Santos Ltd said late on Thursday that they are in preliminary merger talks, in what could be the latest big deal in a wave of global consolidation the in oil and gas sector. A potential combination of the companies, which together have a market value of about $52 …
Factbox-Australia’s Woodside, Santos in talks for $53 billion oil-gas merger Read More »
(Reuters) – A labour dispute between Tesla and Swedish trade union IF Metall has drawn in a host of unions across the Nordic region, all urging the automaker to sign a collective bargaining agreement. About 130 workers affiliated with IF Metall began a strike on Oct. 27, sparking sympathy strikes – a solidarity tactic by …
Factbox-Tesla labour dispute ignites Nordic sympathy strikes Read More »
