(Reuters) -JPMorgan Chase & Co CEO Jamie Dimon said that he can’t rule out that the U.S. economy will fall into stagflation as the country faces huge risks from geopolitics, deficits and price pressures, Bloomberg News reported on Thursday. In a Bloomberg Television interview from the lender’s Global China Summit in Shanghai, Dimon said, “I …
JPMorgan’s Dimon warns of US stagflation risk, Bloomberg News reports Read More »
(Reuters) -OpenAI is buying Jony Ive’s startup io Products in a $6.5 billion deal and will bring the chief designer of early iPhones on board as creative head to develop devices tailored for the generative artificial intelligence era. LoveFrom, the design firm founded by Ive after leaving Apple, has been working with OpenAI for two …
OpenAI buys iPhone designer Ive’s hardware startup, names him creative head Read More »
By Promit Mukherjee BANFF, Alberta (Reuters) -Canada’s finance minister said on Wednesday that he had a good meeting with U.S. Treasury Secretary Scott Bessent and that both were pleased with the progress they were making. The Canadian finance minister, François-Philippe Champagne, held a bilateral meeting with Bessent on the sidelines of the G7 finance heads …
Canadian finance minister touts progress in talks with US counterpart Read More »
By Karen Brettell (Reuters) -The U.S. Treasury Department saw soft demand for a $16 billion sale of 20-year bonds on Wednesday with investors worried about the country’s increasing debt burden as Congress wrangles with a tax and spending bill that is expected to worsen the fiscal outlook. The poorly received auction, which saw stocks and …
Tepid demand for US Treasury auction shows investor jitters about tax bill, deficit Read More »
By Chibuike Oguh NEW YORK (Reuters) -U.S. stocks closed sharply lower on Wednesday as Treasury yields spiked on worries that U.S. government debt would swell by trillions of dollars if Congress passes President Donald Trump’s proposed tax-cut bill. All three major Wall Street indexes closed with their biggest daily losses in a month. Small cap …
Wall Street stocks tumble as worries mount about US debt Read More »
By Juby Babu (Reuters) -Zoom Communications raised its annual revenue forecast on Wednesday, benefiting from hybrid work trends and the integration of artificial intelligence into its products. The integration of AI into its tools and expansion of its range of services has helped Zoom. It added agentic AI Companion capabilities and AI updates across its …
Zoom lifts annual forecasts on robust demand amid AI push Read More »
By Dietrich Knauth NEW YORK (Reuters) -Twelve U.S. states asked a federal court on Wednesday to halt President Donald Trump’s “Liberation Day” tariffs, arguing that he overstepped his authority by declaring a national emergency to impose across-the-board taxes on imports from nations that sell more to the U.S. than they buy. A three-judge panel of …
A dozen US states decry Trump’s “blank check” tariffs in lawsuit Read More »
By Jonathan Stempel (Reuters) – Ford sued several California lawyers and law firms on Wednesday, accusing them of fraudulently inflating their legal fees under that state’s Lemon Law, including one instance where a lawyer allegedly billed 57-1/2 hours in one day. In a complaint filed in Los Angeles federal court against nine defendants, Ford called …
Ford accuses law firms of fraudulent overbilling, including a 57-1/2 hour workday Read More »
By Milana Vinn (Reuters) -AT&T has clinched a deal to acquire Lumen Technologies’ consumer fiber operations for $5.75 billion in cash, the companies said on Wednesday, as the wireless provider adds further scale to its national fiber footprint. Lumen’s shares were up 13% in after-market trading on the sale of the business, which provides high-speed …
AT&T agrees to buy Lumen’s consumer fiber business for $5.75 billion Read More »
By Sriparna Roy (Reuters) – UnitedHealth shares fell more than 6% on Wednesday after the UK’s Guardian newspaper reported the company made secret payments to nursing homes to reduce hospital transfers, adding to the woes of the healthcare conglomerate. The alleged action, part of a series of cost-cutting tactics, has saved the company millions, but …
UnitedHealth falls on report it secretly paid nursing homes to reduce hospital transfers Read More »
