Reuters US Business

By Sabrina Valle and Dietrich Knauth (Reuters) -Bankrupt Rite Aid on Wednesday received court approval to close stores and sell most of its pharmacy assets in separate transactions to CVS, Walgreens, Albertsons, Kroger and Giant Eagle, among others.  The U.S. pharmacy chain, which operates about 1,200 stores and has some 8 million customers, filed for …

Court approves fire sale of most of Rite Aid’s pharmacy assets Read More »

By Dan Catchpole SEATTLE (Reuters) -Boeing expects to stabilize 737 MAX production at 38 airplanes a month over the next couple of months, its Commercial Airplanes Vice President of Quality Doug Ackerman told reporters on Tuesday. The U.S. Federal Aviation Administration capped output at 38 airplanes a month after a mid-air panel blowout in a …

Boeing increases 737 production pace as quality, safety culture improves Read More »

By Greg Bensinger (Reuters) -Amazon.com investors at its annual meeting again rejected all outside shareholder resolutions, including three meant to address the online retail giant’s impact on climate change. Voters approved the reelection of 12 directors and proposed executive compensation. Shareholders put forth eight proposals, all of which Amazon encouraged investors to vote against. Last …

Amazon investors again reject all shareholder proposals Read More »

By Svea Herbst-Bayliss and David French NEW YORK (Reuters) -Phillips 66 <PSX.N> and activist investor Elliott Investment Management each won two seats on the oil refiner’s board at an annual shareholders meeting on Wednesday, capping one of the biggest corporate boardroom battles of the year. The preliminary tally, confirmed by both sides, followed months of …

Elliott wins two seats, Phillips 66 retains two seats in hotly contested board fight Read More »

(Refiles unchanged to fix formatting issues) By Anna Tong, Kenrick Cai SAN FRANCISCO (Reuters) -The contest in Silicon Valley to dominate artificial intelligence is playing out on a new court: superstar researchers. While the scramble to attract top talent and keep them happy has always been a hallmark of the tech industry, since ChatGPT launched …

OpenAI, Google, xAI battle for superstar AI talent, shelling out millions Read More »

By Neil J Kanatt (Reuters) -TJX Cos maintained its annual forecast on Wednesday and flagged an impact from U.S. tariffs, while resilient consumer demand for off-price goods amid an uncertain economy drove a quarterly sales beat for the TJ Maxx parent. Fears of a potential recession and accelerating inflation triggered by tit-for-tat tariffs have pushed …

Off-price retailer TJX beats sales estimate as tariff uncertainty looms large Read More »

By Siddharth Cavale, Ananya Mariam Rajesh (Reuters) -Target slashed its annual sales forecast on Wednesday, after a surprisingly sharp fall in quarterly same-store sales, as customers pulled back on discretionary purchases due to ongoing worries about inflation and the economy due to U.S. President Donald Trump’s trade war.  Target also said its first-quarter performance was …

Target cuts annual forecasts as tariff pressure mounts, demand slows further Read More »