Reuters US Business

By David Shepardson WASHINGTON (Reuters) – The United Auto Workers union said on Thursday that more than 1,000 factory workers at Volkswagen AG’s Chattanooga, Tennessee assembly plant have signed union authorization cards. Last week, the UAW said it was launching a first-of-its-kind push to publicly organize the entire nonunion auto sector in the U.S. after …

More than 1,000 VW workers in Tennessee sign union representation cards – UAW Read More »

(Reuters) -Trading app operator Robinhood Markets Inc said on Thursday it has launched commission-free crypto trading to customers in the European Union. “It is the only custodial crypto platform where customers will get a percentage of their trading volume back every month, paid in Bitcoin (BTC),” Robinhood said in a blog post. The app will …

Robinhood launches commission-free crypto trading in EU Read More »

By Naomi Rovnick LONDON (Reuters) – Investment banks and asset managers have wildly varying stock market and currency calls for 2024, reflecting deep division over whether the U.S. economy will enter a long-heralded recession and drag the world with it. The lack of consensus among forecasters is a stark contrast to a year ago, when …

Analysis-Market bets for 2024 thrown into chaos by US recession conundrum Read More »

By Samuel Indyk and Lewis Krauskopf LONDON/NEW YORK (Reuters) – Shares of smaller companies that have lagged for most of 2023 are drawing investors on both sides of the Atlantic, as they weigh the benefits from an expected fall in interest rates next year against worries about a possible economic downturn. In the U.S., the …

Analysis-Global small-cap stocks lure bargain hunters after sluggish 2023 Read More »

By Noel Randewich and Amruta Khandekar (Reuters) – U.S. stocks ended down on Wednesday, pulled lower by megacaps and energy shares as signs of a cooling jobs market reinforced expectations that the Federal Reserve could start cutting interest rates early next year. The ADP National Employment report showed private payrolls increased by 103,000 jobs in …

Wall St ends lower as investors weigh fresh employment data Read More »

By Deborah Mary Sophia (Reuters) -McDonald’s is planning to open about 10,000 restaurants globally by 2027, in what could be the fast-food giant’s fastest period of growth in its history, it said on Wednesday. The company also laid out plans to double sales from its loyalty program to $45 billion and increase the user base …

McDonald’s plots rapid growth with 10,000 new stores, loyalty expansion Read More »

(Reuters) -GameStop missed quarterly revenue estimates on Wednesday as consumers dialed back spending in an uncertain economy, hampering the videogame retailer’s pivot to a more online-focused model. Shares of the company fell 2.3% in afterhours trading. The results are the first since top investor Ryan Cohen joined as CEO and chairman in late September, tightening …

GameStop misses revenue estimates on faltering videogame demand Read More »

By David Carnevali NEW YORK (Reuters) -AbbVie Inc is nearing an approximately $8 billion deal to acquire Cerevel Therapeutics Holdings Inc, a developer of drugs for neurological conditions such as Parkinson’s, people familiar with the matter said on Wednesday. The acquisition would come just days after AbbVie agreed to buy cancer drug developer ImmunoGen Inc …

Exclusive-AbbVie nears roughly $8 billion deal for drug developer Cerevel-sources Read More »

(Reuters) – New Zealand’s Fonterra Co-operative on Thursday increased its fiscal 2024 earnings and farmgate milk price forecasts, citing strengthening demand for reference commodity products from key importing regions. The company hiked the forecast range for its farmgate milk price – the price it pays to farmers – to between NZ$7.00 and NZ$8.00 per kilogram …

Fonterra hikes 2024 earnings, milk price outlook on strong demand Read More »

MEXICO CITY (Reuters) -Mexico’s financial system has a resilient and solid position despite a complex global outlook, Bank of Mexico Governor Victoria Rodriguez said on Wednesday. The banking system for Latin America’s No. 2 economy showed resilience in stress tests probing its solvency and liquidity, the bank’s financial stability report said. “The banking system’s strong …

Mexican financial system stable despite complex global outlook, central bank says Read More »