Reuters US Business

By Akriti Sharma (Reuters) – Twitter Inc CEO Elon Musk said on Wednesday the social media company is “roughly breaking even,” as most of its advertisers have returned and its aggressive cost-cutting efforts have started bearing fruit after massive layoffs. Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about …

Musk says Twitter is roughly breaking even, has 1,500 employees Read More »

By Ernest Scheyder (Reuters) -General Motors Co on Tuesday said it will invest in lithium technology startup EnergyX as it expands further into the mining industry, the latest deal by the car maker to ensure long-term supplies of the metal used to make electric vehicle batteries. The global push by automakers to electrify their fleets …

General Motors moves deeper into mining with EnergyX lithium investment Read More »

(Reuters) -A U.S. appeals court on Tuesday revived a lawsuit alleging HP Inc defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016. The 9th U.S. Circuit Court of Appeals reversed a judge’s ruling dismissing the lawsuit as filed too late. Investors say they did not discover …

HP must face shareholder lawsuit over sales, appeals court rules Read More »

By Stephen Culp NEW YORK (Reuters) – Wall Street stocks ended mixed on Tuesday, losing steam late in the session as investors awaited crucial inflation data and the unofficial kick-off of first-quarter reporting season. The Dow closed in positive territory with economically sensitive sectors such as industrials, materials and transports providing a boost, while tech …

Wall St ends mixed as inflation data comes into focus Read More »

By Mike Scarcella (Reuters) -A group of video gamers on Monday filed a new legal challenge to Microsoft Corp’s $69 billion bid to buy “Call of Duty” maker Activision Blizzard Inc, after a U.S. judge last month rejected an earlier version of the antitrust lawsuit. U.S. District Judge Jacqueline Scott Corley dismissed the plaintiffs’ first …

Video gamers renew legal challenge to Microsoft’s Activision bid after setback Read More »

(Reuters) – Air Canada said on Tuesday that Chief Financial Officer Amos Kazzaz would retire at the end of June and be replaced by former Bombardier Inc executive John Di Bert. Kazzaz, who has been with the Canadian carrier for 13 years, helped steer the company through the early days of the pandemic, when the …

Air Canada CFO Kazzaz to retire, ex-Bombardier exec Di Bert to take over Read More »

By Anirban Sen and Mehnaz Yasmin (Reuters) – Mark Shafir, one of Citigroup Inc’s top dealmakers, is retiring after a career spanning over three decades during which he advised some of the world’s largest corporations on several landmark deals. Shafir, who has led Citi’s global mergers and acquisitions unit since joining the bank in 2008, …

Citi’s veteran M&A chief Mark Shafir to retire Read More »

By David Lawder WASHINGTON (Reuters) – The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels. The IMF said in its latest World Economic Outlook report that banking system …

IMF warns deeper financial turmoil would slam global growth Read More »