Reuters US Business

By Jonathan Stempel (Reuters) -Wells Fargo won’t have to face class-action claims it systematically discriminated against hundreds of thousands of Black and Hispanic mortgage applicants, a federal judge ruled. U.S. District Judge James Donato in San Francisco decided on Tuesday that the applicants could not sue as a group because they failed to show their …

Wells Fargo won’t face mortgage discrimination class action Read More »

By Anuja Bharat Mistry and Samantha Marshak (Reuters) -Capri Holdings forecast second-quarter revenue above estimates on Wednesday, after its turnaround strategy and improving demand for luxury handbags and footwear helped the Michael Kors owner defy a broader retail slowdown. The company also beat estimates for quarterly profit and revenue, sending its shares up more than …

Michael Kors owner Capri forecasts upbeat revenue, shares jump Read More »

By Jaspreet Singh (Reuters) -The New York Times’ quarterly subscription revenue surged on Wednesday, showing its strategy of combining core news content with more lifestyle-focused offerings was paying off, sending its shares up nearly 14% to a record high. The publisher has leaned heavily in recent years on sports content from The Athletic, games such …

New York Times subscriptions boosted by bundling of news and lifestyle content Read More »

By Deborah Mary Sophia (Reuters) -Shopify on Wednesday forecast upbeat quarterly revenue, saying there was no slowdown in consumer demand yet and sellers on its platform are holding up well under tariff pressures, sending its shares soaring 20%. The Canadian company’s merchant base has been resilient through early August after showing steady growth in the …

Shopify delivers upbeat revenue forecast on resilient demand, shares surge Read More »

By Isla Binnie and Niket Nishant NEW YORK (Reuters) -Carlyle Group laid out an improving outlook for the rest of the year on Wednesday after reporting better-than-expected profit for the second quarter, helped by a pickup in fees as it grew its assets under management. Shares rose 4.7% as the alternative asset manager’s distributable earnings, …

Carlyle signals improving growth as profit beat estimates on fee strength Read More »

(Clarifies role of Congress in penultimate paragraph) By Andrea Shalal and Davide Barbuscia WASHINGTON/NEW YORK (Reuters) -Donald Trump’s move to fire the head of the U.S. Bureau of Labor Statistics has put trust in U.S. data reporting mechanisms on the line just as demand for reliable diagnoses of the health of the world’s largest economy …

Easy to lose, hard to restore: US data trust on the line Read More »

By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) -Walt Disney posted better-than-expected quarterly results and raised its annual profit forecast on Wednesday, led by gains in the streaming business, which is expected to be the centerpiece of its growth strategy in coming years. In the last 24 hours, the media and entertainment company entered …

Disney tops earnings forecasts with streaming gains, raises guidance Read More »

By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) -Walt Disney’s ESPN has reached a landmark deal with the National Football League to acquire NFL Network and other media assets from the league in exchange for the NFL taking a 10% equity stake in the sports network, the parties said on Tuesday. The deal, which …

Disney’s ESPN to acquire NFL media assets in major deal Read More »