Reuters US Business

(Corrects spelling of banquets in paragraph 11) By Christine Chen SYDNEY (Reuters) -Treasury Wine Estates shareholders grilled Chairman John Mullen over the Australian winemaker’s poor performance, stock slump as well as his heavy workload, but he was re-elected by a wide margin at its annual general meeting on Thursday. Earlier this week, Treasury – one …

Australia’s Treasury Wine chair grilled by shareholders but comfortably re-elected Read More »

By David Lawder WASHINGTON (Reuters) -The U.S. again purchased Argentine pesos in the open market on Wednesday, Treasury Secretary Scott Bessent told reporters, adding that the department was working with banks and investment funds to create a $20 billion facility to invest in the South American country’s sovereign debt. Bessent said during a press conference …

US buys more Argentine pesos, working on $20 billion debt facility, Bessent says Read More »

By David Lawder and Andrea Shalal Washington (Reuters) -The two-week-old federal government shutdown may cost the U.S. economy as much as $15 billion a week in lost output, a Treasury official said late on Wednesday, correcting an earlier statement from Treasury Secretary Scott Bessent that put the cost at up to $15 billion per day. …

Shutdown could cost US economy $15 billion a week, Treasury says Read More »

By Krystal Hu and Deepa Seetharaman (Reuters) -Artificial intelligence startup Anthropic is projecting to more than double and potentially nearly triple its annualized revenue run rate next year, fueled by the rapid adoption of its enterprise products, according to two people familiar with the matter. The company is on track to meet an internal goal …

Exclusive-Anthropic aims to nearly triple annualized revenue in 2026, sources say Read More »

By David Lawder and Andrea Shalal WASHINGTON (Reuters) -Top U.S. officials on Wednesday blasted China’s major expansion of rare earth export controls as a threat to global supply chains, but said Beijing could still change course and avoid steps by Washington to decouple from the world’s second-largest economy. U.S. Trade Representative Jamieson Greer told a …

Greer, Bessent blast China’s rare earths curbs, urge Beijing not to implement them Read More »

By Luc Cohen NEW YORK (Reuters) -A woman who says she was abused by the late financier and sex offender Jeffrey Epstein sued Bank of America and the Bank of New York Mellon on Wednesday, alleging the banks knowingly provided financial services that enabled his sex trafficking operation for years. Bank of America and BNY …

Bank of America, BNY sued over alleged financial ties to Jeffrey Epstein Read More »

By David Lawder WASHINGTON (Reuters) -The Trump administration will seek to tighten control over strategic sectors by taking more equity stakes in key companies to counter China’s economic policies and export restrictions, Treasury Secretary Scott Bessent said on Wednesday. Bessent told a CNBC event that China’s dramatic new restrictions on rare earth minerals and magnets …

US may seek more stakes in strategic companies to counter China, Bessent says Read More »

By Noel Randewich (Reuters) -The S&P 500 ended higher on Wednesday, with Morgan Stanley and Bank of America rallying after solid quarterly results, while investors remained focused on the recent increase in China-U.S. trade tensions. Morgan Stanley’s shares jumped 4.7% to a record high, while Bank of America rose 4.4% after the top lenders beat …

S&P 500 ends higher after strong bank earnings, chip stocks rally Read More »

(Reuters) -Salesforce expects revenue of more than $60 billion in 2030, above Wall Street estimates, as the company rapidly rolls out AI features across its cloud services. Investors are pressuring cloud firms to show returns on the billions poured into AI, while an uncertain macro environment and volatile customer spending weigh on growth prospects. The …

Salesforce forecasts stronger-than-expected revenue of over $60 billion in 2030 Read More »

(Reuters) -Goldman Sachs Asset Management’s global co-head and chief investment officer of public investing, Ashish Shah, will retire from the partnership next year, according to a memo seen by Reuters on Wednesday. Shah is set to assume the role of an advisory director, post retirement, at the end of the first quarter of 2026, the memo added. …

Goldman Sachs Asset Management’s global co-head and CIO of public investing to retire in 2026, memo says Read More »