Reuters US Business

By Lucia Mutikani WASHINGTON (Reuters) -U.S. retail sales rebounded more than expected in June, suggesting a modest improvement in economic activity and giving the Federal Reserve cover to delay cutting interest rates while it gauges the inflation fallout from import tariffs. That report was reinforced by data from the Labor Department on Thursday that showed …

US retail sales growth, steady job market bolster Fed’s rate-cut delay Read More »

By Puyaan Singh and Christy Santhosh (Reuters) -Abbott warned on Thursday it expects more than $1 billion in financial headwinds this year from a sharp decline in COVID-19 testing demand, new U.S. tariffs, and the government’s foreign aid freeze. Its shares were down nearly 9% as the medical device giant also forecast third-quarter profit below …

Abbott flags over $1 billion hit in 2025 from tariffs, COVID test decline Read More »

By Greg Bensinger SAN FRANCISCO (Reuters) -Amazon cut at least hundreds of jobs in its Amazon Web Services cloud computing unit on Thursday, two sources said, just a month after CEO Andy Jassy warned that adoption of generative AI tools would trigger a workforce reduction. An Amazon spokesperson confirmed it had cut jobs but did not provide …

Exclusive-Amazon’s AWS cloud computing unit cuts at least hundreds of jobs, sources say Read More »

By Niket Nishant and Manya Saini (Reuters) -Donald Trump Jr.-backed GrabAGun’s shares slipped 22% on Thursday, deepening their post-debut slide and highlighting the degree of investor scrutiny even newly listed companies with high-profile backers are being subjected to. The firearms retailer went public after clinching a merger with Colombier Acquisition Corp. II, a special purpose …

Trump Jr.-backed GrabAGun’s stock extends losses after sinking on debut Read More »

By Rajesh Kumar Singh and Shivansh Tiwary (Reuters) -United Airlines executives said on Thursday the company has seen strong bookings in the past three weeks, with the carrier gaining pricing power for the first time since February. If the trend continues, they expect the company’s revised full-year profit estimate would prove to be conservative. On …

United Airlines reports recovery in bookings and pricing power, shares climb Read More »

NEW YORK (Reuters) -Goldman Sachs named its senior banker Aasem Khalil as global head of its business focused on client coverage in middle-market banking, a memo seen by Reuters on Thursday showed. Best known for its advisory work on mega deals, Goldman has in recent years expanded in so-called middle-market deals worth $500 million to …

Goldman Sachs names Khalil as global head of middle market group, memo says Read More »