(Reuters) -The U.S. is seeking to procure cobalt worth up to $500 million for defense stockpiles amid the country’s move to boost its critical mineral supplies. Companies have been scrambling to source rare earths after China imposed restrictions, leading to a 75% drop in rare earth magnet exports from the country in June and causing …
US Defense Department to buy cobalt for up to $500 million Read More »
By Jaspreet Singh (Reuters) -Intuit forecast first-quarter revenue growth below analysts’ estimates on Thursday, hit by sluggish performance at its marketing platform Mailchimp, sending the shares down nearly 6% in extended trading. The company provides products such as tax-preparation software TurboTax, personal finance portal Credit Karma and accounting software QuickBooks. Mailchimp, acquired in 2021 and …
Intuit forecasts quarterly revenue growth below estimates as Mailchimp lags Read More »
(Reuters) -Pinnacle Financial Partners and Synovus Financial on Thursday named the executive leadership team to oversee the combined bank, as the regional lenders prepare for a new chapter after the deal closes early next year. Last month, Pinnacle and Synovus agreed to combine in a $8.6 billion all-stock deal to form one of the largest …
Pinnacle Financial, Synovus name leadership team to steer combined bank Read More »
By Chris Prentice (Reuters) -The U.S. Justice Department does not plan to target software developers that create decentralized platforms for transmitting cryptocurrencies without criminal intent, a Justice official said on Thursday. Marking the latest sign of the U.S. government’s changing views on crypto, acting Assistant Attorney General Matthew Galeotti of the DOJ’s criminal division said …
US DOJ to back off money transmitter cases in shift backed by crypto Read More »
(Reuters) -Workday raised its annual subscription revenue forecast on Thursday, but an in-line outlook for the current quarter sent the human resources software provider’s shares down nearly 4% in extended trading. Workday’s customers rely on the company’s single cloud-based platform, which provide applications to manage services including recruitment, payroll, accounting and audit. In an uncertain …
Workday’s forecast for quarterly subscription revenue disappoints Read More »
(Reuters) -The co-founder of a fintech firm formerly known as Aspiration Partners Inc, and which was backed by actors Robert Downey Jr. and Leonardo DiCaprio, has pleaded guilty to defrauding investors and lenders in a $248 million scheme, the U.S. Justice Department said on Thursday. Joseph Sanberg, who was also a board member of Aspiration …
Fintech firm Aspiration Partners’ co-founder pleads guilty to defrauding investors Read More »
(Reuters) -Ross Stores on Thursday topped quarterly profit estimates and reinstated its annual earnings forecast, betting on demand for discounted apparel and accessories as tariffs raise retail prices during the holiday season. The company’s shares were up about 2% in extended trading after it also forecast strong holiday quarter profit. Discount stores are expected to …
Ross Stores tops quarterly profit estimates as shoppers seek discount apparel Read More »
By Chris Prentice (Reuters) -The U.S. Securities and Exchange Commission named a senior military judge as enforcement director on Thursday, in what legal sources said was an unconventional pick for the top job policing Wall Street. Margaret “Meg” Ryan, a senior judge of the United States Court of Appeals for the Armed Forces, will take …
US SEC taps military judge to be enforcement director Read More »
By Suzanne McGee (Reuters) -An ongoing attempt by Cracker Barrel Old Country Store to revamp its brand triggered a backlash and unleashed a selloff that wiped out most of the dining chain’s year-to-date stock price gains. The restaurant company on Tuesday unveiled a new logo that dispenses with the image of a seated, overall-clad man …
Cracker Barrel shares nosedive following storm over logo change Read More »
By Davide Barbuscia NEW YORK (Reuters) -Investors are bracing for volatility as Federal Reserve Chair Jerome Powell walks a fine line between curbing inflation and supporting the labor market, with thin August trading poised to magnify any market moves from his Jackson Hole speech on Friday. Wall Street largely expects Powell will signal an imminent …
Investors see risks for market as Powell walks tightrope at Jackson Hole Read More »
