Sept 23 (Reuters) – Media mogul Barry Diller’s People Inc on Wednesday withdrew its proposal to purchase all public shares of MGM Resorts International, sending the casino operator’s shares down 8% in extended trading. In June, People, which currently owns about a 27% stake in MGM, had proposed to
By Jamie McGeever ORLANDO, Florida, Sept 23 (Reuters) – US bond yields soared on Wednesday, in many cases to the highest since 2007, and expectations of an interest rate hike next month surged, after figures showed that US business activity is expanding at its fastest pace in more than five years. T
By Marc Jones and Naomi Rovnick LONDON, Sept 23 (Reuters) – For years, 5% on the benchmark US 10-year Treasury yield was viewed as the point at which global financial markets would start hitting turbulence. That threshold is beginning to look less like a ceiling and more like a waypoint. This month’
Sept 23 (Reuters) – Wells Fargo said on Wednesday its chief risk officer, Derek Flowers, would retire in mid-January after nearly three decades at the US banking giant. Flowers, who started at Wells Fargo in 1995, held various roles at the fourth-largest US bank. He has been the chief risk officer s
SANTIAGO, Sept 23 (Reuters) – Operations at the world’s largest copper mine, BHP’s Escondida mine in Chile, were suspended on Wednesday after a worker was killed in an accident, the firm said. BHP said the worker had been killed while carrying out maintenance work. The union representing the site ha
LAS VEGAS (AP) — Caesars Entertainment shareholders have approved a multibillion-dollar merger with Fertitta Gaming that would create one of the largest gaming empires. Caesars has a dominant presence on the Las Vegas Strip, operating hotels like Caesars Palace, the Flamingo and Harrah’s. It also op
HOUSTON, Sept 23 (Reuters) – US ultra-low-sulfur diesel futures fell 4% on Wednesday after Politico reported that the White House is preparing a plan to ban diesel exports for 90 days, which the Trump Administration denied. Average US diesel prices are sitting near record highs at $6.52 a gallon, ac
By Nick Carey LONDON, Sept 23 (Reuters) – Bentley on Wednesday unveiled its first fully electric vehicle, betting that wealthy buyers want zero-emission motoring without sacrificing the design cues that have defined the British luxury carmaker for more than a century. The launch of the Torcal SUV co
WASHINGTON (AP) — A federal judge weighing whether to block President Donald Trump’s ban of three news outlets from White House grounds expressed some skepticism Wednesday in response to the government’s defense of the move. U.S. District Judge Timothy Kelly, who was nominated by Trump in 2017, didn
WASHINGTON (AP) — Melania Trump rang the opening bell at the New York Stock Exchange on Wednesday to promote her new initiative to help women become leaders and achieve economic power. It’s called Imperia, and its members include CEOs, founders, innovators, entrepreneurs and others. A lot of the fir
By Ann Saphir and Howard Schneider SAN FRANCISCO/WASHINGTON, Sept 23 (Reuters) – Mounting inflation pressures and a strengthening economy look to be pushing the Federal Reserve towards an interest-rate hike on the eve of critical national elections, with traders on Wednesday piling into bets on a se
COLUMBUS, Ohio (AP) — Billionaire Les Wexner has long been a magnet for political campaigns seeking contributions — especially in his native Ohio, where the retail tycoon directed a generous portion of his giving to candidates from both parties. Then came the Epstein files. Jeffrey Epstein, the late
By Andrea Shalal WASHINGTON, Sept 23 (Reuters) – The United States is open to extending the US-China trade truce that expires on November 10 or considering a possibly larger trade deal, US Treasury Secretary Scott Bessent said on Wednesday as he left a meeting with Chinese Vice Premier He Lifeng to
By Avinash P and Shashwat Chauhan Sept 23 (Reuters) – Wall Street’s main indexes fell on Wednesday as crude oil prices and bond yields climbed, while investors assessed the latest developments from the US-Iran talks to end the Middle East conflict ahead of the high-stakes Washington-Beijing summit.
McDonald’s said Wednesday it will spend $8.5 billion over the next decade to modernize its restaurants globally. The Chicago burger chain also said it plans to introduce grilled chicken sandwiches and wraps and experiment with products like egg bites and bowls to meet the needs of customers who are
NEW YORK (AP) — The Gap, a clothing brand that has featured everything from swing-and-jump blues to hip-hop and rap in commercials, is now tapping into the boy-band business. The San Francisco company announced a multiyear partnership with Just Your Type, a five-member, pop boy band, as part of the
Sept 23 (Reuters) – Disney will raise prices on several streaming subscriptions, including its flagship ad-free Disney+ plan, Bloomberg News reported on Wednesday, citing people familiar with the matter. Major streaming platforms have steadily increased subscription prices and rolled out advertising
Sept 23 (Reuters) – Private discount grocer Aldi said on Wednesday it would lower prices on a range of grocery items in the U.S. this fall, a move the company estimates will save shoppers about $86 million as consumers continue to grapple with inflation. Here are some details: • The announcement com
NEW YORK (AP) — Prince Harry warned Wednesday at the Clinton Global Initiative that artificial intelligence chatbots designed to provide companionship are even more dangerous to young people than social media. “The technology is more persuasive, more intimate, and more powerful,” the Duke of Sussex
WASHINGTON (AP) – President Donald Trump is rolling out the red carpet for Chinese President Xi Jinping, offering an unusually personal welcome as the Chinese leader begins his first state visit to Washington in more than a decade. Trump is expected to greet Xi at Joint Base Andrews on Wednesday, a
By Harshita Mary Varghese and Lisa Richwine Sept 22 (Reuters) – Paramount Skydance is promising the largest volume of movies in Hollywood after its Warner Bros. Discovery purchase as it also aims for up to $6 billion in cost savings. Wall Street is asking how that will add up. Under Monday’s settlem
YANGON, Myanmar (AP) — An Australian business executive who headed the American Chamber of Commerce in Myanmar has been released from jail after being detained for more than 100 days over financial misappropriation allegations, a legal official said Wednesday. Ye Khaung Kyaw, also known as Danny, wa
WASHINGTON, Sept 23 (Reuters) – US business activity raced to a more than five-year high in September, fueled by a surge in new orders, though strong demand strained supply chains and pushed prices higher. S&P Global said on Wednesday its flash US Composite PMI Output Index, which tracks the manufac
NEW YORK, Sept 23 (Reuters) – US Energy Secretary Chris Wright on Wednesday said a US ban on diesel exports would not work and could push up gasoline and jet fuel prices, putting him at odds with President Donald Trump, who on Tuesday backed the idea as diesel prices have surged to record highs in t
Sept 23 (Reuters) – Wall Street’s main indexes opened lower on Wednesday, pressured by rising crude prices and government bond yields as investors awaited developments from negotiations to end the Middle East conflict ahead of the high-stakes US-China summit. The Dow Jones Industrial Average fell 92
By Arasu Kannagi Basil and Anirban Sen NEW YORK, Sept 23 (Reuters) – The biggest multi-manager hedge funds are allocating more capital than ever to accounts that are exclusively run for individual clients, according to an internal Goldman Sachs report, underscoring the industry’s battle for talent a
By Greg Bensinger SAN FRANCISCO, Sept 23 (Reuters) – Amazon on Wednesday introduced a new agentic artificial intelligence service for third-party sellers on its main e-commerce site, expanding automation features for easier listing and inventory management. Agents are fast becoming the hottest area
By Sanskriti Shekhar Sept 23 (Reuters) – General Mills beat first-quarter sales and profit estimates on Wednesday and reaffirmed its annual forecast, as price increases and resilient demand for at-home food helped partially offset higher input costs. Consumers facing persistently high inflation have
The Tesla Model Y has been the sales king of small electric SUVs since the moment it arrived. Many rivals have chased its success, but none have come close. Now it’s Rivian’s turn. The Rivian R2 is the California EV automaker’s first small electric SUV, and it’s gunning for the Model Y. Rivian’s R1T
By James Davey LONDON, Sept 23 (Reuters) – Nike is taking the right steps to revive its business and a turnaround is only a matter of time, said the finance chief of British sports and fashion retailer JD Sports, one of the U.S. group’s largest customers. Nike CEO Elliott Hill, nearly two years into
