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OTTAWA (Reuters) -Canada’s Competition Bureau said on Monday it was suing DoorDash and its Canadian subsidiary for allegedly advertising misleading prices and discounts. The bureau said in a statement it found that consumers were unable to purchase food and other items at the advertised price on DoorDash’s websites and mobile applications due to the addition …

Canada’s antitrust watchdog sues DoorDash over prices, discounts Read More »

By Michael S. Derby (Reuters) -Americans’ anxiety about the future path of inflation eased in May, as they also grew more upbeat about the state of their personal finances, according to a report released on Monday by the New York Federal Reserve. The regional Fed bank reported in its Survey of Consumer Expectations that the …

US inflation expectations ease in May, New York Fed survey shows Read More »

By Niket Nishant and Lananh Nguyen (Reuters) -Ken Moelis will step down as CEO of the investment bank he co-founded, Moelis & Co., and hand the reins to longtime partner Navid Mahmoodzadegan, the bank said in a statement on Monday. Moelis will become executive chair on October 1. The move echoes a playbook from rival …

Ken Moelis to hand CEO role to longtime partner at investment bank Read More »

By David Morgan WASHINGTON (Reuters) -U.S. President Donald Trump and his Republican allies in Congress are determined to enact his tax-cut agenda in a political push that has largely abandoned longtime party claims of fiscal discipline, by simply denying warnings that the measure will balloon the federal debt. The drive has drawn the ire of …

Defying debt warnings, Republicans push forward on Trump tax agenda Read More »

By Ateev Bhandari and Arasu Kannagi Basil (Reuters) -Insurance tech company Slide is aiming for a valuation of up to $2.12 billion in its U.S. initial public offering, joining a lineup of insurance companies that have made impressive stock market debuts in recent weeks. The company’s roadshow launch follows stellar listings in recent weeks from …

Insurtech Slide targets over $2 billion valuation as insurers pile onto IPO markets Read More »

By Vallari Srivastava and Aishwarya Jain (Reuters) -Baker Hughes said on Monday it will sell its precision sensors and instrumentation (PSI) product line to aerospace and defense parts manufacturer Crane for $1.15 billion, as the oilfield services provider looks to optimize its portfolio. CEO Lorenzo Simonelli has been reshaping Baker Hughes to adapt to the …

Baker Hughes to sell sensor unit to Crane for $1.15 billion Read More »

(Reuters) -Amazon.com said on Monday it plans to invest at least $20 billion in Pennsylvania to expand data center infrastructure, adding on to the billions of dollars the technology giant has committed to the expansion of artificial intelligence. This underscores Big Tech’s commitment to making hefty investments to support booming generative AI technology, as the …

Amazon to invest $20 billion in Pennsylvania to expand cloud infrastructure Read More »

By Byron Kaye SYDNEY (Reuters) -Some customers of Australia’s Afterpay have been asked to close buy-now-pay-later accounts to qualify for a mortgage and offered a credit card upon qualification, the BNPL provider said on Tuesday, underscoring fierce competition in the consumer finance sub-sectors. BNPL loans, on-the-spot interest-free short-term loans with minimal credit checks, exploded as …

Australia’s Afterpay says some BNPL users told to close accounts, then sold credit cards Read More »