Reuters US Business

By Stephen Culp NEW YORK (Reuters) – Wall Street tanked in a broad sell-off on Thursday, as investor risk appetite was dashed by worries that the Federal Reserve’s restrictive monetary policy will remain in place for longer than anticipated. All three major U.S. stock indexes tumbled more than 1% and benchmark U.S. Treasury yields touched …

US stocks close at lowest since June, Treasury yields spike on hawkish Fed Read More »

By Andrea Shalal and Douglas Gillison (Reuters) – The Biden administration on Thursday announced plans to remove medical bills from Americans’ credit reports in a push to end what it called coercive debt collection tactics that affect millions of consumers. Proposals under consideration would help families financially recover from medical crises, stop debt collectors from …

Biden administration announces plans to cut medical bills from credit reports Read More »

(Reuters) -Alphabet-owned Google has discussed dropping Broadcom as a supplier of artificial intelligence (AI) chips as early as 2027, The Information reported on Thursday, sending Broadcom shares down 5% in premarket trading. If that happens, Google will design the chips – known as tensor processing units – in-house, the report said, adding that executives set …

Google discussed dropping Broadcom as AI chips supplier – The Information Read More »

By Abigail Summerville (Reuters) – Unilever Plc has hired investment banks Morgan Stanley and Evercore Inc to sell a basket of non-core beauty and personal care brands that include Q-Tips and Impulse, reviving an effort it abandoned two years ago, according to people familiar with the matter.  The revival of the sale process, which has …

Exclusive-Unilever launches new bid to sell Q Tips and other brands-sources Read More »

By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) -Vietnamese electric vehicles maker VinFast plans to ship its first EVs to Europe this year after receiving regulatory approval, its chief executive told Reuters on Thursday, as the European Union considers imposing tariffs on its Chinese rivals. Under the plan, about 3,000 of its VF8 crossovers would …

Exclusive-Vietnam’s VinFast to deliver EVs to Europe this year as EU probes China rivals Read More »

(Reuters) – Australia’s Qantas Airways’ chairman has refused to step down even as investors continued to demand his resignation amid a slew of scandals that have affected the carrier, ABC News reported on Thursday, citing an interview to a radio program. The company is facing a regulatory lawsuit accusing it of breaching consumer law by …

Qantas chairman refuses to quit amid investor pressure – ABC News Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – Investors Ken Griffin and Bill Ackman, who oversee billions of dollars in private funds, are meeting with Ukrainian President Volodomyr Zelenskiy in New York, according to two sources briefed on the event scheduled for Wednesday afternoon. Zelenskiy addressed the United Nations Security Council earlier on Wednesday about Russia’s …

Finance titans meet with Ukraine’s Zelenskiy in New York -sources Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – Influential proxy advisory firm Institutional Shareholder Services recommended 3D printer manufacturer Stratasys shareholders reject plans to buy Desktop Metal, saying another offer “presents a more convincing route to value creation,” in a note seen by Reuters on Wednesday. ISS’s recommendation, which tends to carry significant weight with shareholders, …

Proxy advisor ISS opposes Stratasys, Desktop Metal merger in 3D printing Read More »

(Reuters) – New Zealand’s Fonterra reported an annual profit on Thursday that more than doubled and declared a higher final dividend, helped by strong margins from its cheese and protein portfolio. The world’s biggest dairy exporter also benefited from higher prices and strong demand for its dairy ingredients and foodservice channel. “We are watching market …

Fonterra’s full-year profit more than doubles on margin boost Read More »

(Reuters) -FedEx raised the lower end of its full-year profit forecast on Wednesday after a cost-cutting quarter and positioned itself to poach customers from rivals UPS and Yellow. FedEx shares jumped 5.7% to $264.60 in extended trading after the Memphis-based company said it now expects adjusted fiscal 2024 earnings of $17 to $18.50 per share, …

FedEx raises lower end of full-year profit forecast Read More »