Reuters US Business

By Saeed Azhar, Amruta Khandekar and Shristi Achar A NEW YORK (Reuters) – Wall Street’s main stock indexes closed sharply lower on Tuesday after stronger-than-expected retail sales data stoked worries interest rates could stay higher for longer, while U.S. big banks dropped on a report that Fitch could downgrade some lenders. The Commerce Department report …

Wall St ends lower; strong retail sales stoke interest rate worries Read More »

By Patrick Wingrove (Reuters) – Amazon.com said on Tuesday its online pharmacy will automatically apply manufacturer-sponsored coupons to more than 15 insulin and diabetes medicines to help patients access discounts pledged by the drug industry. With the new program, patients using Amazon Pharmacy will no longer have to search for and manually enter coupons from …

Amazon Pharmacy automates discounts to help insulin patients get pledged prices Read More »

By Abigail Summerville NEW YORK (Reuters) – Private equity firm Bain Capital on Tuesday agreed to buy Fogo de Chão, in a deal people familiar with the matter said valued the Brazilian steakhouse chain at about $1.1 billion, including debt. The deal marks a win for private equity firm Rhone Capital, which took Fogo de Chão …

Bain Capital buys Brazilian steakhouse chain Fogo de Chão in $1.1 billion deal Read More »

(Reuters) – Apollo Global Management is selling off a $500 million term loan given to Yellow Corp and dropping plans to extend financing to fund the freight group’s bankruptcy, the Financial Times reported on Tuesday. The term loan was sold to a fund owned by Citadel, the FT reported. Yellow shares closed down 31% following …

Apollo Global pulls out of Yellow’s bankruptcy financing plan Read More »

(Reuters) -Crypto exchange Binance late on Monday filed for a protective court order against the U.S. Securities and Exchange Commission saying the regulator’s requests for information were “over broad” and “unduly burdensome”. In a court filing in the US District Court of Columbia, BAM Trading, Binance U.S.’s operating company and BAM Management said the group …

Binance files for protective order against SEC Read More »

MILAN (Reuters) – Sentiment among global investors improved in August to its least bearish since February 2022 with cash allocations falling to a 21-month low, a Bank of America survey showed on Tuesday. The poll of fund managers with $545 billion of assets found that investors remain of the view that global growth will weaken …

Investors least bearish since February 2022 – BofA Read More »

By Niket Nishant and Manya Saini (Reuters) -Digital payments giant PayPal Holdings on Monday named Alex Chriss, a top executive at tax-preparation software firm Intuit, its next CEO as it looks to grab a bigger share of the payments market for small businesses. Chriss, who has a strong track record in dealmaking, will replace Dan …

PayPal hires Intuit veteran with small business expertise to be next CEO Read More »

(Reuters) – Activist investor Elliott Investment Management has dissolved its stake in payments giant PayPal, according to a filing with the U.S. Securities and Exchange Commission. (Reporting by Manya Saini in Bengaluru; Editing by Shilpi Majumdar)