Reuters US Business

By Arsheeya Bajwa (Reuters) -GameStop shares were back in action as the company’s move to hoard bitcoin brought retail investors back to their favorite meme stock. The video game retailer’s shares rose 11.6% to $28.36 on Wednesday after GameStop said it would invest in bitcoin at a time when its primary brick-and-mortar business is struggling …

GameStop’s crypto pivot boosts shares of one-time retail investor favorite Read More »

By Lananh Nguyen and Manya Saini (Reuters) -Jefferies’ first-quarter profit missed Wall Street estimates on Wednesday as bond trading weakened and stock market deals were stalled due to uncertainty sparked by shifting U.S. trade policy and geopolitical turmoil. The results offer investors an early glimpse at how Wall Street’s investment banking units may fare in …

Jefferies profit misses estimates as bond trading, equity underwriting weaken Read More »

By Jonathan Stempel NEW YORK (Reuters) -The biotechnology company Cassava Sciences failed on Wednesday to end a malicious prosecution lawsuit by doctors and short-sellers who expressed doubts about its experimental, soon-to-be-discontinued Alzheimer’s drug simufilam. U.S. District Judge Jennifer Rochon in Manhattan said Adrian Heilbut, Jesse Brodkin, Enea Milioris, David Bredt and Geoffrey Pitt could try …

Cassava Sciences must face malicious prosecution lawsuit over Alzheimer’s drug Read More »

By Siddharth Cavale NEW YORK (Reuters) -Walmart is touting its Easter 2025 promotion as cheaper than in 2024 – even though its meal kit is missing a key component: eggs. The U.S. retailing giant features a yearly Easter promotional meal kit with several ingredients advertised as the ingredients needed for a holiday feast. This year’s …

Walmart touts cheaper Easter meal for 2025 – but it’s missing the eggs Read More »

By Saeed Azhar NEW YORK (Reuters) -Wall Street banker bonuses rose 31.5% to an average $244,700 last year as dealmaking rebounded, but the boom times may wane as economic uncertainty rises, New York State Comptroller Thomas DiNapoli said on Wednesday. Deals have slowed this quarter as companies navigate changing policies from President Donald Trump’s administration, …

Wall Street bonuses jump 32% as total surges to record, NY comptroller says Read More »

By Saeed Azhar NEW YORK (Reuters) – U.S. investment banks are poised to cut more jobs if economic uncertainty continues to weigh on dealmaking in the months ahead, according to analysts and recruiters. U.S. President Donald Trump’s threats to impose tariffs on trading partners have roiled markets, weighed on capital markets activity and raised the …

Analysis-Wall Street job cuts loom as market turmoil stalls deals Read More »

WASHINGTON (Reuters) – The U.S. government will probably risk defaulting on some of its $36.6 trillion in debt as soon as August – or possibly even by late May – unless Congress acts to raise the nation’s debt ceiling, the non-partisan Congressional Budget Office forecast on Wednesday. The CBO’s forecast of the so-called “X-date” when the …

US risks default as soon as August without debt-ceiling action, CBO estimates Read More »

WASHINGTON (Reuters) -The U.S. Treasury Department’s financial crimes unit said on Wednesday it has issued a new rule that will narrow a key element of the 2021 Corporate Transparency Act, a law aimed at combating illicit finance. The new Financial Crimes Enforcement Network, or FinCEN, rule goes into effect on Wednesday, even as the unit …

US Treasury’s financial crimes unit won’t require ownership reporting from US firms Read More »

By Pesha Magid RIYADH (Reuters) -Tesla will start sales in Saudi Arabia next month, the electric carmaker said on its website, signalling CEO Elon Musk and the kingdom have healed a rift that dates back to the billionaire’s short-lived bid in 2018 to take the company private. Tesla sells in other Middle Eastern countries, but …

Tesla to launch in Saudi Arabia as Musk and the kingdom mend relations Read More »