Reuters US Business

By Jody Godoy, Anirban Sen, Dawn Chmielewski and Zaheer Kachwala (Reuters) – Paramount Skydance is preparing a bid to buy Warner Bros Discovery, a source familiar with the matter told Reuters on Thursday, potentially bringing together two storied Hollywood studios and reshaping the entertainment industry. A bid for Warner Bros Discovery would be backed by …

Paramount Skydance preparing bid for Warner Bros Discovery, source says Read More »

By Krystal Hu and Stephen Nellis (Reuters) – Microsoft and OpenAI said on Thursday they have signed a non-binding deal for new relationship terms that would allow OpenAI to proceed to restructure itself into a for-profit company, marking a new phase of the most high-profile partnerships to fund the ChatGPT frenzy. Details on the new …

Microsoft, OpenAI reach non-binding deal to allow OpenAI to restructure Read More »

By Shivangi Lahiri and Rishav Chatterjee (Reuters) – The liquidators of China Evergrande Group have received non-binding indicative offers for the developer’s majority stake in its property management arm, and potential bidders will be invited to submit final offers as soon as November, a filing showed. Evergrande’s liquidators control a 51.016% holding in Evergrande Property …

Evergrande liquidators get initial offers for control of property services arm Read More »

By Echo Wang (Reuters) – Cryptocurrency firm Gemini Space Station raised $425 million in an initial public offering on Thursday, pricing its stock above a marketed range. The company led by the billionaire twins Tyler and Cameron Winklevoss sold around 15.2 million shares for $28 apiece, after marketing them for $24 to $26, it said …

Crypto exchange Gemini prices IPO above range to raise $425 million Read More »

By Daniel Wiessner (Reuters) – President Donald Trump’s administration on Thursday asked a federal appeals court to let Trump remove Federal Reserve Governor Lisa Cook for now, a move Cook’s lawyers said could cause market turmoil with the central bank set to meet next week to decide on interest rates. Trump moved to fire Cook …

Trump administration moves to lift ruling that blocked removal of Fed Governor Cook Read More »

By Sinéad Carew and Marc Jones NEW YORK/LONDON (Reuters) – MSCI’s global equities gauge hit a record high on Thursday while U.S. Treasury yields fell along with the dollar due to growing expectations for interest rate cuts, as softer labor market data overshadowed a higher-than-expected U.S. inflation reading.  The Consumer Price Index increased by 0.4% in August, the …

Stocks rise, dollar falls as soft US jobs data fuels rate cut bets Read More »

By Noel Randewich and Purvi Agarwal (Reuters) – Wall Street’s main indexes notched record-high closes on Thursday following gains in Tesla and Micron Technology, while U.S. inflation and jobless data fueled expectations that the Federal Reserve will cut interest rates this month. U.S. consumer prices rose more than expected in August and the annual increase …

Wall Street indexes post record-high closes; Tesla and Micron rally Read More »

By Jonathan Stempel NEW YORK (Reuters) -A former quantitative researcher at Two Sigma Investments has been indicted for fraud, after allegedly manipulating the large hedge fund’s algorithmic models to generate a $23.5 million payday for himself while causing $165 million of harm to clients, U.S. authorities said on Thursday. The U.S. Department of Justice said …

US charges fired Two Sigma quant researcher with fraud Read More »