China outbound investment rule to be completed by end of year -- US official
By David Shepardson WASHINGTON (Reuters) - Commerce Secretary Gina Raimondo said Wednesday she expects rules to implement U.S. outbound investment restrictions on China will be completed by the end of the year. President Joe Biden in August issued ...
3h ago
NYCB stock cheapest among US lenders with over $3 billion in assets, S&P Global says
(Reuters) - New York Community Bancorp was the cheapest U.S. bank stock among lenders with more than $3 billion in assets for the second straight month, an analysis by S&P Global Market Intelligence showed on Wednesday. The evaluation based on adj...
4h ago
Google fights $17 billion UK lawsuit over adtech practices
LONDON (Reuters) - Google parent Alphabet has urged a London tribunal to block a mass lawsuit which accuses it of abusing its dominance in the online advertising market, in the latest case to focus on the search giant's business practices. The laws...
4h ago
ECB can cut rates and should rethink how it sets policy, Wunsch says
FRANKFURT (Reuters) - The European Central Bank can press ahead with interest rate cuts this year but needs to rethink how it forecasts inflation and sets policy based on these projections, Belgian policymaker Pierre Wunsch said on Wednesday. The E...
4h ago
Mercedes CEO speaks against restrictions on trade with China
BERLIN (Reuters) - Mercedes-Benz Chief Executive Ola Kaellenius on Wednesday spoke against imposing restrictions on trade with China, stressing that the country remains the group's most important market. "We are closely monitoring potential trade p...
4h ago
Mercedes rejects claims it prevented unionising at US plant
BERLIN (Reuters) - German premium carmaker Mercedes-Benz on Wednesday rejected claims that it has been trying to prevent the formation of a union at its Alabama plant. The group "respects the decision of the employees to establish a trade union org...
4h ago
Reddit shares soar as earnings show advertising, AI licensing revenue potential
(Reuters) - Reddit shares soared 14% on Wednesday after the social media firm floored investors with strong revenue growth and improving profitability in the first earnings since its market debut. The company surprised Wall Street late on Tuesday w...
4h ago
US wholesale inventories drop by unrevised 0.4% in March
WASHINGTON (Reuters) - U.S. wholesale inventories fell in March, confirming that inventory investment was a drag on economic growth in the first quarter. The Commerce Department's Census Bureau said on Wednesday that wholesale inventories fell 0.4%...
4h ago
Fox profit beats estimates as lower costs help offset ad revenue weakness
(Reuters) - Fox Corp beat Wall Street estimates for third-quarter profit on Wednesday, due to lower expenses, even as its revenue tumbled more than 15% on weakness in its advertising business. The media company benefited from a near 25% fall in ope...
4h ago
Teva Pharm Q1 profit misses estimates, revenue risea
By Steven Scheer JERUSALEM (Reuters) - Teva Pharmaceutical Industries reported a smaller than expected rise in first-quarter profit citing higher impairments of tangible assets, while sales of copycat medicines and its branded drugs to treat migrai...
4h ago