Reuters US Business

(Reuters) -Software firm Oracle on Thursday laid off hundreds of employees, rescinded job offers and cut back open positions within its health unit, the Insider reported, citing three people familiar with the matter. The layoffs follow thousands of cuts in corporate America as companies wrestle with elevated levels of inflation and rising interest rates. Oracle’s …

Oracle cuts hundreds of jobs, rescinds job offers in its health unit – Insider Read More »

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Atlanta President Raphael Bostic acknowledged Thursday more issues with his past financial disclosures, as part of a general release by the regional Fed banks of financial disclosure forms for their leaders covering 2022. Bostic already acknowledged last year what he deemed as inadvertent errors …

Atlanta Fed’s Bostic acknowledges more financial disclosure issues Read More »

By Samrhitha A (Reuters) – Adobe Inc surpassed Wall Street estimates for quarterly results and forecast on Thursday as the Photoshop maker’s efforts to drive up demand with generative artificial intelligence (AI) integrations paid off. Shares of the San Jose, California-based company rose more than 5% in aftermarket trading. Adobe’s spree to boost AI innovation …

Adobe tops quarterly results and forecast estimates driven by AI Read More »

(Reuters) -The U.S. Federal Reserve and the Securities and Exchange Commission are investigating Goldman Sachs Group’s role in two deals with Silicon Valley Bank that preceded the latter’s collapse, the Wall Street Journal reported on Thursday citing people familiar with the matter. Silicon Valley Bank had booked a $1.8 billion loss on the sale of …

Fed, SEC probing Goldman Sachs’ role in Silicon Valley Bank’s final days – WSJ Read More »

By Nell Mackenzie and Kirstin Ridley LONDON (Reuters) – Wall Street firms are poised to reassess how they vet hedge funds, industry sources and experts say, following a race to cut ties with Odey Asset Management after founder Crispin Odey was accused of sexual misconduct in the press. The Financial Times and Tortoise Media, in …

Odey scandal prompts Wall Street rethink on how to vet hedge funds Read More »

By Chibuike Oguh NEW YORK (Reuters) -Microsoft Corp shares rose to a new record high close on Thursday as market optimism about the prospects of artificial intelligence (AI) has helped buoy the technology giant to a record market capitalization of $2.59 trillion. Microsoft is seen as a leader in the adoption of AI technology in …

Microsoft notches record high valuation of nearly $2.6 trillion Read More »

(Reuters) – Bed Bath & Beyond’s lender Sixth Street Partners is considering bidding for at least some of the bankrupt retailer’s assets, the Wall Street Journal reported on Thursday, citing a court hearing. Sixth Street is planning to use more than $500 million of its debt in the company to bid, the report said, citing …

Sixth Street considers bidding for Bed Bath & Beyond assets – WSJ Read More »

By Noel Randewich and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq surged on Thursday to close at their highest in 14 months, as investors cheered economic data that fueled bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign. Treasury yields slid after a slew of …

S&P 500 leaps to highest close in 14 months; traders bet US rates near peak Read More »