Business News

WASHINGTON (Reuters) – President Joe Biden said on Wednesday he did not believe the U.S. economy will fall into recession either this year or next year, his most confident prediction …

(Reuters) – JPMorgan Chase & Co has cut hundreds of mortgage employees, a source familiar with the matter told Reuters on Wednesday, hours after the company announced plans to hire …

By Martin Coulter and Greg Bensinger LONDON (Reuters) – Alphabet Inc lost $100 billion in market value on Wednesday after its new chatbot shared inaccurate information in a promotional video …

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended down on Wednesday, paring most of the previous session’s strong gains, with tech-focused shares leading the way lower. Alphabet Inc …

By Lananh Nguyen MIAMI (Reuters) – JPMorgan Chase & Co, the largest U.S. lender, plans to hire more than 500 bankers catering to small businesses through 2024, the company said …

By Svea Herbst-Bayliss NEW YORK (Reuters) – Hedge fund Third Point LLC owns a stake in Salesforce Inc at the same time the software company is facing pressure from four …

By Granth Vanaik and Uday Sampath Kumar (Reuters) -Mattel Inc projected 2023 earnings below expectations on Wednesday, as stubbornly high inflation is likely to impact consumer spending on its Fisher-Price …

By Svea Herbst-Bayliss NEW YORK (Reuters) – Ancora Group Holdings, a key shareholder in U.S. auto retailer IAA, has accumulated a new 0.5% stake in Canada’s Ritchie Bros Auctioneers and …

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. With little on Thursday’s Asian economic data docket aside from Taiwanese inflation, investors …

(Reuters) -Istanbul’s stock exchange operator suspended trading until Feb. 15 and cancelled all Wednesday’s trades in the wake of devastating earthquakes that struck Turkey and Syria on Monday. The tremors …

By David Shepardson WASHINGTON (Reuters) -U.S. Senator Bernie Sanders, who chairs a committee on labor issues, and 10 other members of the committee have asked Starbucks Corp Chief Executive Howard …

By David Lawder and Kanishka Singh SPRING HILL, Tenn./WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that while inflation remained elevated, there were encouraging signs that supply-demand …

By David Shepardson and Hyunjoo Jin WASHINGTON (Reuters) – A U.S. safety board said Wednesday found no evidence a Tesla Model S was operating on Autopilot during an April 2021 …

(Reuters) – Buy-now-pay-later lending firm Affirm Holdings Inc on Wednesday announced a restructuring plan to reduce about 500 employees, or about 19% of its workforce, sending the company’s shares down …

By Sara Merken (Reuters) – New York-founded law firm Shearman & Sterling said Wednesday it has laid off attorneys and business professionals, citing a need to “align our capacity levels …

By Pete Schroeder and Susan Heavey WASHINGTON (Reuters) -U.S. Treasury Department officials highlighted several challenges facing financial firms that are increasingly turning to cloud computing services to support a range …

(Reuters) – Cryptocurrency exchange Kraken is under investigation by the U.S. Securities and Exchange Commission for the sale of unregistered securities, according to a Bloomberg report. The regulator’s inquiry is …

BERLIN/FRANKFURT (Reuters) – Bayer replaced its CEO early, recruiting the former head of Roche’s pharmaceuticals business, as investor criticism over the company’s lacklustre share price grew.  Bill Anderson’s appointment for …

By Nell Mackenzie and Carolina Mandl LONDON (Reuters) – Multi-manager hedge funds charge expense fees about triple the size of traditional peers, a Barclays note to clients shows, in a …

NEW YORK (Reuters) – Third Point LLC on Wednesday said Bath & Body Works can perform better financially and called the appointment of a new chief executive an “encouraging first …

By Jonathan Stempel (Reuters) – Centene Corp has reached a $215.4 million settlement with California to resolve accusations it overcharged a state program for affordable healthcare by falsely inflating its …

JAKARTA (Reuters) – Two lessors have filed applications in a Jakarta court in a bid to cancel flag carrier Garuda Indonesia’s restructuring deal, a court website showed. Garuda reached an …

By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) -Global shares fell and the dollar was steady on Wednesday as the Federal Reserve’s mantra that interest rates will stay higher …

By Bhanvi Satija and Raghav Mahobe (Reuters) – CVS Health Corp will buy Oak Street Health Inc for about $9.5 billion in cash, joining rivals in adding primary care to …

By Steve Scherer and David Ljunggren OTTAWA (Reuters) -The Bank of Canada hiked rates last month rather than leaving them unchanged because of labor market tightness and stronger-than-expected growth, according …