Reuters US Business

By Abhinav Parmar and Lisa Baertlein (Reuters) – FedEx reported quarterly profit and revenue above Wall Street estimates, as cost-cutting and strength in domestic deliveries helped offset weaker international volumes after the U.S. ended tariff exemptions on low-value, direct-to-consumer shipments. Shares of Memphis-based FedEx climbed 5.5% in extended trading on Thursday after surprising Wall Street. …

FedEx results top targets on cost-cutting, shares jump 5.5% after the bell Read More »

By Jonathan Stempel (Reuters) – Capital One settled a lawsuit by social media creators who said a free browser extension used by millions of people to find discounts stole their sales commissions when shoppers bought their products and services. The sixth-largest U.S. commercial bank and the creators jointly filed a settlement notice on Thursday in …

Capital One settles social media creators’ lawsuit Read More »

By Jonathan Stempel (Reuters) – Lyft has paid $19.4 million to New Jersey after an audit found the ride-sharing company improperly classified more than 100,000 drivers as independent contractors, state officials said on Thursday. Officials including state Attorney General Matthew Platkin said Lyft made the payment after withdrawing its request for a hearing to challenge …

Lyft pays $19.4 million to New Jersey over driver misclassifications Read More »

By Douglas Gillison WASHINGTON (Reuters) -The U.S. Consumer Financial Protection Bureau is considering furloughing workers as the agency confronts a funding crunch, according to two people with knowledge of the matter. After President Donald Trump’s White House took control of the CFPB in February, the administration declined to draw fresh funding for the agency and officials have sought …

CFPB considers worker furloughs as funding crunch deepens, sources say Read More »

By Atharva Singh, Arasu Kannagi Basil and Echo Wang (Reuters) – Cybersecurity firm Netskope commanded an $8.79 billion valuation as its shares jumped 21% in their Nasdaq debut on Thursday, adding to a string of successful tech IPOs this year. The Santa Clara, California-based company’s shares opened at $23 apiece, well above the $19 offer …

Cybersecurity firm Netskope notches $8.8 billion valuation as shares jump in Nasdaq debut Read More »

By Isla Binnie NEW YORK (Reuters) -Private equity firm Carlyle has hired two senior executives for its direct-lending business as it tries to boost its share of a growing market, the company said on Thursday. Michael Meagher joins as a partner from private credit firm Golub Capital, and JP Seminario moves to a managing director …

Carlyle makes two senior hires to boost direct-lending business Read More »