By David Lawder and Andrea Shalal NEW YORK, Dec 3 (Reuters) – Lower interest rates would likely eliminate the need for a 50-year mortgage floated by President Donald Trump to boost housing affordability, Joseph Lavorgna, a counselor to U.S. Treasury Secretary Scott Bessent, said on Wednesday. Lavorgna said at the Reuters NEXT conference in New …
By Helen Coster NEW YORK, Dec 4 (Reuters) – The New York Times sued the U.S. Department of Defense and Secretary of Defense Pete Hegseth on Thursday in an effort to force the Pentagon to abandon its restrictive new press policy, the latest attempt by a U.S. news organization to reclaim access to government spaces. …
By Harshita Mary Varghese and Dawn Chmielewski Dec 3 (Reuters) – Media mogul Shari Redstone said on Wednesday that Paramount made the “right decision” by agreeing to pay $16 million to settle a lawsuit filed by U.S. President Donald Trump against CBS over a “60 Minutes” interview. Speaking at the Reuters NEXT summit in New …
Dec 4 (Reuters) – Snowflake shares slumped 11% on Thursday after the cloud data analytics company forecast slower product revenue growth for the fourth quarter, partly hit by discounts offered on the large, long-term deals. If losses hold, around $10 billion of the company’s market value could be wiped out. The stock has risen more …
Snowflake tumbles on slower quarterly product revenue growth forecast Read More »
By David Shepardson WASHINGTON, Dec 4 (Reuters) – A group of 15 Democratic senators proposed legislation Thursday to require airlines to provide cash compensation if carriers cause significant delays. The senators led by Mark Kelly, Ed Markey and Richard Blumenthal are proposing to mandate compensation in line with European Union and Canadian requirements, including mandating …
US senators want airlines to pay passengers cash for long delays Read More »
By Dawn Chmielewski NEW YORK, Dec 4 (Reuters) – The NBC broadcast network will continue to support its late-night comedy shows that have come under attack from U.S. President Donald Trump, NBCUniversal Studios Chairman Pearlena Igbokwe said at the Reuters NEXT conference on Thursday. The Republican president has lashed out at several late-night comedians who …
NBC executive voices support for late-night shows amid Trump attacks Read More »
By Savyata Mishra Dec 4 (Reuters) – Kroger narrowed its annual sales forecast on Thursday on signs of shoppers turning more selective on their groceries and fresh produce purchases, while leaning more on promotions. The supermarket chain also missed third-quarter sales expectations and its shares fell nearly 6% after interim CEO Ron Sargent said middle-income …
Kroger trims annual sales forecast as shoppers tighten budgets Read More »
By Nqobile Dludla MULDERSDRIFT, South Africa, Dec 4 (Reuters) – Chinese automaker BYD will hit its initial target of having about 35 dealerships in South Africa by the first quarter of 2026 and aims to expand that network to 60 to 70 by the end of next year along with growing demand for its electric …
BYD accelerates South Africa expansion with more dealerships planned in 2026 Read More »
Dec 4 (Reuters) – Meta is expected to make budget cuts of up to 30% for its metaverse initiative, Bloomberg News reported on Thursday, citing people familiar with the discussions. The Facebook parent’s shares rose 4% as the move eased some investor jitters over a bet that CEO Mark Zuckerberg has backed with billions of …
Meta to cut up to 30% of metaverse budget, Bloomberg News reports Read More »
By Anuja Bharat Mistry Dec 4 (Reuters) – Dollar General raised its annual profit forecast after beating third-quarter earnings estimates on Thursday, as value-seeking shoppers across income levels flock to its stores amid economic uncertainty and the discount retailer reins in costs. The company’s shares rose as much as 12.3% to a 15-month high, set …
Dollar General raises annual profit forecast as low prices pull in bargain hunters Read More »
