Reuters US Business

By Jonathan Stempel (Reuters) – Wells Fargo won the dismissal of a lawsuit accusing the fourth-largest U.S. bank of defrauding shareholders by touting its commitment to hiring diversity while its managers were conducting sham interviews of non-white and female job candidates. In a decision on Friday, U.S. District Judge Trina Thompson in San Francisco said …

Wells Fargo defeats shareholder lawsuit over fake job interviews Read More »

(Reuters) -Zoom Video Communications forecast third-quarter profit above Wall Street estimates on Monday, a positive sign for the company that has tried to overcome a post-pandemic slowdown by offering a wider range of collaboration tools. Shares of the video-conferencing platform rose more than 4% in trading after the bell. Video conferencing platforms including Zoom, Microsoft’s …

Zoom forecasts current-quarter profit above estimates on strong enterprise demand Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – The Nasdaq ended more than 1% higher and the S&P 500 also rose on Monday, with shares of Nvidia jumping as investors were optimistic ahead of its earnings this week, and other technology-related stocks gaining. The Dow Jones industrial average ended slightly lower. The yield on 10-year Treasury …

Nasdaq rallies with Nvidia, tech shares; investors look toward Jackson Hole Read More »

(Reuters) -Teva Pharmaceutical will pay $225 million over five years to settle criminal price-fixing charges under a deal with the U.S. Department of Justice, the Israeli drugmaker said on Monday. Teva, the world’s largest generic drugmaker, will pay $22.5 million due each year from 2024 through 2027, and $135 million due in 2028. The company …

Teva to pay $225 million to settle price-fixing charges Read More »

CHICAGO (Reuters) -American Airlines pilots have approved a new contract that includes more than $9.6 billion in total pay and benefits increases over four years, reflecting the bargaining power held by pilots in an era of airline staff shortages. The Allied Pilots Association (APA), which represents 15,000 pilots at the Texas-based carrier, said on Monday …

American Airlines pilots approve new contract that boosts compensation by more than 46% Read More »

By Fergal Smith (Reuters) -Canada’s main stock index fell on Monday to a near two-month low as a drop in oil prices pressured energy shares and rising bond yields weighed on dividend-paying stocks. The Toronto Stock Exchange’s S&P/TSX composite index ended down 33.52 points, or 0.2%, at 19,784.87, its lowest closing level since June 27. …

TSX hits a 2-month low as dividend-paying stocks fall Read More »

By Lewis Jackson SYDNEY (Reuters) – Australia’s A$2.4 trillion ($1.54 trillion) pension sector grew its investments in local and foreign debt by more than A$20 billion over the past year as higher yields burnished an asset class overlooked in a country where equities traditionally rule. The two largest pension funds grew fixed income investments in …

Australia’s $1.5 trln pension sector invests in debt again Read More »