Reuters US Business

By Abigail Summerville (Reuters) – The private equity owners of popular emergency contraception pill Plan B, Foundation Consumer Healthcare, have hired advisors to explore options including a potential sale of the company, a person familiar with the matter told Reuters. A sale could value the company at more than $4 billion, the source said, adding …

Owners of morning-after pill Plan B mulling $4 billion sale of company – source Read More »

By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Wednesday tightened Sam Bankman-Fried’s bail conditions by restricting his ability to communicate publicly, and said he will consider jailing him before the trial over the collapse of his FTX cryptocurrency exchange. At a hearing in Manhattan federal court, prosecutors asked U.S. District …

US judge tightens Sam Bankman-Fried’s bail, will consider jailing him Read More »

By Rishav Chatterjee (Reuters) – Commonwealth Bank of Australia, the country’s biggest lender, could cut up to 200 jobs, a source familiar with the matter told Reuters on Wednesday, but did not divulge further information the layoffs. The layoffs could end up being a “couple of hundred” and the CBA’s ongoing consultations could mean some …

Commonwealth Bank of Australia could cut up to 200 jobs – source Read More »

By Akash Sriram and Stephen Nellis (Reuters) -Artificial intelligence is expected to pay off big for tech giants including Microsoft and Alphabet someday. But expect deeper investments before gains trickle to the bottom line, the companies said on Tuesday. Microsoft said costs rose sharply as it built new data centers to support AI and that …

AI lesson for Microsoft and Google: Spend money to make money Read More »

(Reuters) – Alphabet rallied nearly 7% on Wednesday on signs its dominant Google Search business was faring well in an uncertain advertising market and remained unscathed in the face of competition from an AI-powered Microsoft Bing. The world’s fourth most valuable firm was set add more than $100 billion to its market capitalization, based on …

Alphabet rallies as Google Search unfazed by challenge from Microsoft’s Bing Read More »

MEXICO CITY (Reuters) -Mexican breadmaker Grupo Bimbo posted a nearly 30% dip in second-quarter net profit on Tuesday after the company registered a non-cash benefit on its pension plan in the year-ago quarter. Net profit slid to 4.30 billion pesos ($251.06 million), down from 6.08 billion pesos. Even excluding the $90 million pension effect, net …

Mexican breadmaker Bimbo profit drops 30% after year-ago pension bump Read More »

(Reuters) – Insurance company Chubb beat estimates for quarterly profit on Tuesday as higher returns from its investments cushioned a hit from catastrophe-related claims. Investment income, which had slumped for most insurance firms that invest a chunk of their profits across classes, has recovered this year as markets rally. The benchmark S&P 500 Index has …

Insurer Chubb beats quarterly profit estimates on strong investment returns Read More »

NEW YORK (Reuters) – Emmy-winning “Breaking Bad” actor Bryan Cranston rallied a crowd of striking Hollywood actors on Tuesday with comments directed at Walt Disney Co Chief Executive Bob Iger. Iger angered members of the SAG-AFTRA actors union this month by saying their demands for a labor contract with higher pay and limits on use …

Bryan Cranston calls out Bob Iger at striking actors’ rally Read More »

By Sheila Dang (Reuters) -Photo messaging app-owner Snap Inc on Tuesday gave weaker third quarter guidance than analysts had expected as it works to compete with tech giants for advertising dollars, sending its shares down 17%. Snap, which owns the Snapchat app, has attracted hundreds of millions of users thanks to its lighthearted photo filters …

Snap shares fall on softer Q3 outlook as app tries to revamp ads Read More »