Reuters US Business

Intuit expects quarterly revenue growth above estimates on strong financial tools demand

21 Nov 2025

(Reuters) -Intuit forecast second-quarter revenue growth above Wall Street estimates on Thursday, a sign of growing demand for its artificial intelligence-powered financial management tools. Shares of the company rose around 3% in extended trading. The company, which offers products such as tax-preparation software TurboTax, finance portal Credit Karma and accounting tool QuickBooks, is benefiting as …

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Verizon cutting more than 13,000 jobs as it restructures

21 Nov 2025

By David Shepardson WASHINGTON (Reuters) -U.S. wireless carrier Verizon on Thursday said it will cut more than 13,000 jobs in its largest single layoff as it works to shrink costs and restructure operations. Verizon also said it plans to convert 179 corporate-owned retail stores into franchised operations and close one store. The company said in …

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US SEC dismisses case against SolarWinds, top security officer

21 Nov 2025

By Chris Prentice (Reuters) -The U.S. Securities and Exchange Commission on Thursday said it has dropped its closely watched litigation against SolarWinds Corp and its top security officer that was tied to a Russia-linked cyberattack involving the software firm. The landmark case, which SEC brought in late 2023, rattled the cybersecurity community and later faced …

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Restaurant chain California Pizza Kitchen to be acquired by investor group, sources say

21 Nov 2025

By Abigail Summerville (Reuters) -California Pizza Kitchen has signed a deal to be acquired by an investor group led by Consortium Brand Partners and including Todd Boehly’s investment firm Eldridge Industries, for under $300 million, according to sources familiar with the matter. The investment represents an opening foray into the restaurant category for Consortium Brand …

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Gap beats quarterly sales, profit estimates on marketing-driven demand

21 Nov 2025

By Neil J Kanatt (Reuters) -Gap beat Wall Street expectations for third-quarter comparable sales and profit on Thursday, helped by strong marketing-driven demand for its Old Navy and Banana Republic brand apparel. Shares of the company rose about 5% in extended trading. The apparel maker has banked on efforts such as introducing limited-edition products in …

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Ross Stores lifts annual profit forecast on strong demand for discount goods

20 Nov 2025

By Neil J Kanatt (Reuters) -Ross Stores raised its annual profit forecast on Thursday, betting on resilient demand for its discounted apparel and accessories ahead of the holiday season amid looming macroeconomic uncertainties. Shares of the company, which also beat estimates for third-quarter sales, were up about 3% in after-market trading. Off-price retailers such as …

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Trump tariffs to reduce US deficits by $1 trillion less than previous estimate, CBO says

20 Nov 2025

By Richard Cowan WASHINGTON (Reuters) -President Donald Trump’s tariff increases on imports from foreign countries will reduce U.S. deficits by $3 trillion if they are maintained through 2035, the non-partisan Congressional Budget Office estimated on Thursday, instead of the $4 trillion the agency projected in August. The CBO based its latest estimate on tariffs imposed …

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Blue Origin unveils plan for bigger New Glenn rocket variant to take on SpaceX

20 Nov 2025

By Joey Roulette WASHINGTON (Reuters) -Jeff Bezos’ space company Blue Origin said on Thursday it will build a bigger, more powerful variant of its New Glenn rocket, drawing early plans for a family of orbital satellite launchers akin to the fleet of Falcon rockets from Elon Musk’s dominant SpaceX. The new rocket, announced after New …

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Fed’s Goolsbee uneasy about rate cuts, says nothing wrong with dissenting

20 Nov 2025

By Ann Saphir (Reuters) -Chicago Federal Reserve President Austan Goolsbee on Thursday said he is uneasy about cutting interest rates in the face of too-high inflation that’s steady at best and by some measures getting worse, remarks that signal a reluctance to support a third straight reduction in borrowing costs next month. “My unease is …

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