Reuters US Business

By Blake Brittain (Reuters) – Samsung Electronics Co failed to convince an East Texas federal court on Friday to pause the California Institute of Technology’s high-stakes patent lawsuit against it while it challenges the patents’ validity at the U.S. Patent and Trademark Office. U.S. District Judge Rodney Gilstrap said halting the lawsuit until the Patent …

Samsung loses bid to pause Caltech patent lawsuit over wireless chips Read More »

(Reuters) – Global equity funds secured weekly inflows for a second straight week in the week to Jan. 18 on hopes over waning inflationary risks and more measured rate hikes from the Federal Reserve, though recent data showed a drop in consumer spending. Refinitiv Lipper data showed global equity funds obtained $5.24 billion worth of …

Global equity funds post second weekly inflows in a row Read More »

By Elizabeth Howcroft and Hannah Lang (Reuters) – U.S. crypto company Digital Currency Group (DCG) is at the center of the industry’s latest meltdown after one of its companies, Genesis, froze customer withdrawals in November. The lending unit of Genesis Global Capital filed on Thursday for U.S. bankruptcy protection from creditors. Here is what we …

Factbox-The many companies in Digital Currency Group’s crypto empire Read More »

By Supantha Mukherjee STOCKHOLM (Reuters) -Sweden’s Ericsson on Friday missed fourth-quarter core earnings expectations as sales of 5G equipment slowed in high-margin markets such as the United States. With U.S. customers such as Verizon tightening their purse strings, Ericsson is hoping newer markets such as India provide some growth. It has also announced plans to …

Ericsson earnings miss as slowing U.S. market hits margins Read More »

(Reuters) -Nordstrom Inc on Thursday cut its forecast for annual profit after reporting weak holiday sales, as the department store chain took a hit from heavy discounting and promotions. Shares of the company fell about 6% to $16.41 in extended trading, after it said net sales declined 3.5% for the nine-week holiday period ended Dec. …

Nordstrom slashes annual profit forecast after weak holiday sales Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stock indexes closed lower on Thursday after data pointing to a tight labor market renewed concerns the Federal Reserve will continue its aggressive path of rate hikes that could lead the economy into a recession. A report from the Labor Department showed weekly jobless claims were lower …

Wall St slips as labor market data fuels Fed worry Read More »

(Reuters) – Consumer lending firm Capital One Financial Corp has cut 1,100 positions in its technology segment, a person familiar with the matter told Reuters on Thursday, a move that comes as its digital transformation matures. The company plans to eliminate its “Agile” job family and integrate it into existing engineering and product manager roles, …

Capital One scraps 1,100 tech positions – source Read More »

By Gabriel Araujo SAO PAULO (Reuters) -Brazilian retailer Americanas SA on Thursday filed for bankruptcy protection, days after uncovering nearly $4 billion in accounting inconsistencies and amid a legal feud with creditors. Americanas, backed by the billionaire trio that founded 3G Capital, said in a securities filing that it will restructure debts of about 43 …

Billionaire-backed Americanas files for bankruptcy protection, shares tank Read More »

By Howard Schneider and Bianca Flowers WASHINGTON/CHICAGO (Reuters) – The chances of a “soft landing” for the U.S. economy, where inflation declines without major job losses, appear to be growing, Federal Reserve Vice Chair Lael Brainard said on Thursday, and the central bank is now “probing” for the right level of rates to control inflation …

Fed ‘probing’ for right rate level as prospects rise for ‘soft landing’ Read More »

By Daniel Wiessner (Reuters) -A U.S. labor board official is seeking a rare order requiring Starbucks Corp to collectively bargain with workers at a Florida store, even after they voted against unionizing by a nearly two-to-one margin. The regional director of the National Labor Relations Board’s Tampa, Florida office filed a complaint on Tuesday claiming …

Starbucks could be forced to bargain with workers who rejected union Read More »