Reuters US Business

By Juveria Tabassum (Reuters) -Macy’s cut its annual profit forecast on Wednesday as the top U.S. department store operator navigates tariff-induced uncertainty and signaled early discounts on its spring collection to better manage its stock. Department store chains have consistently lost market share to cheaper products from off-price and big-box players and competition will likely …

Macy’s cuts annual profit forecast as tariffs loom over consumer demand Read More »

By Shariq Khan and Georgina McCartney NEW YORK/HOUSTON (Reuters) – A former senior analyst at U.S. trading company Freepoint Commodities has sued the company, alleging that top executives pressured employees to facilitate insider trading and retaliated against employees that objected. The lawsuit, filed in a New York federal court on May 14 by former employee …

Ex-analyst sues Freepoint Commodities, alleges pressure to facilitate insider trading Read More »

(Reuters) -Chile’s SQM, the world’s second-largest lithium producer, on Wednesday missed quarterly profit estimates and warned of lower realized prices in the next quarter due to oversupply of lithium, a critical component of electric vehicle batteries. The company posted first-quarter net profit of $137.5 million, or 48 cents a share, compared with analysts’ estimates of …

Chile’s SQM misses profit estimates as lithium prices remain under pressure Read More »

By Marisa Taylor and Alexandra Ulmer (Reuters) -Democratic Senator Elizabeth Warren urged the U.S. Department of Defense to ensure competitive AI contracting, according to a letter seen by Reuters on Wednesday, as tech billionaire Elon Musk’s artificial intelligence chatbot Grok gains ground in the federal government. Warren’s letter comes on the heels of Reuters reporting …

US senator calls for AI competition in Pentagon contracting Read More »

By Saeed Azhar NEW YORK (Reuters) -U.S. homeowners and prospective buyers are feeling the most uncertain about the real estate market since 2023, a Bank of America survey showed on Wednesday, as rising mortgage rates deter buyers. Of the 2,000 respondents to BofA’s poll, 60% said they could not tell whether it was a good …

US home buyers are most uncertain since 2023 as rates surge, BofA survey shows Read More »

By Medha Singh (Reuters) -Over-the-counter (OTC) shares of Fannie Mae and Freddie Mac rose on Wednesday after U.S. President Donald Trump said he was working on taking the housing giants public. “I am working on TAKING THESE AMAZING COMPANIES PUBLIC, but I want to be clear, the U.S. Government will keep its implicit GUARANTEES, and …

Fannie, Freddie OTC shares rise as Trump prepares to take firms public Read More »

(Reuters) -U.S. LNG company New Fortress Energy on Tuesday said it received an expected notice from Nasdaq on non-compliance with the stock market’s listing rule for not submitting its quarterly reports with the U.S. Securities and Exchange Commission. Earlier this month, the company had flagged it would extend its quarterly filing with the U.S. securities …

New Fortress Energy receives notice from Nasdaq for non-compliance Read More »