Reuters US Business

By Stephen Culp NEW YORK (Reuters) – The S&P 500 and the Nasdaq finished in the red on Tuesday as worries that aggressive moves to curb decades-high inflation might tip the U.S. economy into recession dampened investors’ risk appetite. All three major U.S. stock indexes pared their losses in afternoon trading, with the blue-chip Dow …

S&P 500, Nasdaq slide as weak economic data, dire outlooks stoke recession fears Read More »

WASHINGTON (Reuters) – The Federal Trade Commission said on Tuesday it had launched an inquiry into the ongoing shortage for infant formula in the United States and would examine the pattern of mergers and acquisitions in the formula market. The inquiry comes after a Feb. 17 recall by top baby formula maker Abbott Laboratories and …

U.S. FTC launches inquiry into infant formula shortage Read More »

By Svea Herbst-Bayliss and Carolina Mandl NEW YORK (Reuters) -Hedge funds that bet on bonds, currencies, stocks and commodities are among the industry’s biggest winners this year easily outpacing growth and tech funds’ returns and preparing to see significant inflows of capital as the stock market hovers near bear market territory. So-called global macro funds …

Rocky markets giving macro funds a boost Read More »

(Reuters) – Russian lawmakers on Tuesday gave the first stamp of approval to a bill that would allow Russian entities to take over foreign companies that have left the market in opposition to Moscow’s actions in Ukraine, the government’s online portal showed. Scores of foreign companies have announced temporary shutdowns of stores and factories in …

Russian lawmakers give initial approval to bill allowing foreign asset takeover Read More »

By Jonathan Stempel NEW YORK (Reuters) -The U.S. Securities and Exchange Commission on Tuesday said the online brokerage TradeZero America Inc and its co-founder settled civil charges they falsely told customers that they did not restrict purchases of volatile “meme” stocks last year. The settlement calls for TradeZero and Daniel Pipitone, 47, both from the …

TradeZero settles SEC charges it misled customers about meme stock trading halts Read More »

(Reuters) – Russia’s biggest mobile operator MTS said on Tuesday it has started selling discounted and used smartphones, offering Russian consumers cheaper alternatives as inflation bites and Western brands suspend shipments. Apple paused all product sales in Russia in early March, one of many Western companies to distance itself from Moscow since it sent tens …

Russia’s no. 1 mobile operator MTS starts selling used and discounted smartphones Read More »

JERUSALEM (Reuters) -Bezeq Israel Telecom reported a rise in first-quarter net profit, as its Pelephone mobile phone service and Yes satellite TV unit both drew more subscribers. Bezeq, Israel’s largest telecoms group, said it earned 322 million shekels ($96 million) in the first quarter excluding one-time items, compared with 299 million shekels a year earlier. …

Israel’s Bezeq Telecom Q1 profit rises as mobile, satellite TV services attract more subscribers Read More »

LONDON (Reuters) -Boohoo has reached a final settlement over a U.S. class action claim alleging the British online fashion retailer’s promotions in California misled shoppers, it said on Tuesday. The group, which sells clothing, shoes, accessories and beauty products aimed at 16- to 40-year olds, had agreed terms for a preliminary settlement of the action …

Boohoo agrees final settlement of U.S. class action lawsuit Read More »

By Krystal Hu (Reuters) – U.S. cybersecurity software firm Semperis said it has raised over $200 million in a funding round led by private equity firm KKR & Co Inc at a valuation substantially higher than in its previous round. Existing investors including Insight Partners and new investors such as Ten Eleven Ventures joined KKR …

Cybersecurity firm Semperis raises over $200 million in KKR-led round Read More »

(Reuters) – The Russian rouble strengthened to levels not seen since March 2018 against the dollar on Tuesday, boosted by export-focused companies selling foreign currency to pay taxes and shrugging off a slight easing of capital controls. The rouble has firmed about 30% against the dollar this year despite a full-scale economic crisis in Russia, …

Russian rouble firms past 57 to the dollar for first time in four years Read More »