By Nupur Anand NEW YORK, Aug 26 (Reuters) – Former JPMorgan Chase executive Jes Staley told U.S. lawmakers he repeatedly shared confidential and market-sensitive bank information with Jeffrey Epstein and was at one point named as a trustee of his estate, according to a transcript released by the U.S
By Sameer Manekar and Julie Zhu Aug 27 (Reuters) – Australia’s Qantas Airways gave an upbeat revenue outlook on Thursday and said it would begin retiring its Airbus A380 superjumbos in 2028 after posting a 14% fall in annual underlying profit as fuel prices spiked. The country’s flag carrier said it
By Dan Catchpole SEATTLE, Aug 26 (Reuters) – Boeing posted contractor positions for engineering and technical roles on job sites on Tuesday, in what appears to be the latest escalation in its labor dispute with its white-collar union at its commercial airplane division. After members of the Society
Nvidia’s latest quarterly results once again blew past Wall Street’s expectations as revenue for the computer chip company’s high-end artificial intelligence chips soared, the latest sign that AI infrastructure spending remains strong. The company reported on Wednesday net income of $59.69 billion,
Aug 26 (Reuters) – The case for a Federal Reserve interest-rate hike gained a little steam on Wednesday after a government report showed inflation in July was a touch stronger than economists had expected. The 12-month gain in the personal consumption expenditures price index, which the Fed targets
By Gertrude Chavez-Dreyfuss and Fergal Smith NEW YORK/TORONTO, Aug 26 (Reuters) – Investors this week will watch the annual Jackson Hole symposium for clues on how policymakers plan to navigate a landscape in which higher Treasury yields could do some of the tightening work for them. The central ban
By Svea Herbst-Bayliss NEW YORK, Aug 26 (Reuters) – Nelson Peltz’s Trian Fund Management has no plans to make a take-private bid for Wendy’s at this time, sources familiar with the matter told Reuters. The move comes after the investment firm, a longtime Wendy’s shareholder with around 16% of the fa
BRASILIA, Aug 26 (Reuters) – The Brazilian government said on Wednesday it has sued chat platform Discord, seeking 500 million reais ($97 million) through a civil collective moral damages lawsuit as it accuses the firm of failing to comply with laws protecting children and teens. The lawsuit request
Aug 26 (Reuters) – HP said on Wednesday its personal computer unit shipments declined in the third quarter, overshadowing the company’s strong results and sending its shares down 10% in extended trading. Its total PC shipments dropped 16% for the quarter ended July 31, even as revenue from the divis
Aug 26 (Reuters) – Salesforce lifted its full-year revenue forecast and announced an expanded partnership with AI giant Anthropic on Wednesday, sending the enterprise software company’s shares up 14% in extended trading. The companies’ new “Claudeforce” initiative will integrate Anthropic’s Claude A
General Mills said Wednesday it has removed artificial colors from all its U.S. cereals, including Lucky Charms and Trix. The Minneapolis company has shifted to fruit- and vegetable-based dyes as well as colors derived from spices like turmeric and paprika to give its cereals their customary bright
SAN DIEGO (AP) — Joey and Jesse Buss are part of the San Diego Padres’ new ownership group led by José E. Feliciano and Kwanza Jones. The youngest Buss heirs’ participation in the group already had been widely reported by The Associated Press and other outlets, but they confirmed it Wednesday in a s
By Saeed Azhar, Purvi Agarwal and Niket Nishant NEW YORK, Aug 26 (Reuters) – Wall Street’s main indexes closed nearly flat to slightly lower on Wednesday after a U.S. inflation reading came in hotter than expected, while many investors stuck to the sidelines ahead of AI bellwether Nvidia’s earnings
Tech giant Meta this week agreed to pay $17 billion as part of a settlement to end a landmark trial related to safeguards for younger users of social media. It is one of the largest such settlements ever, though it represents only a fraction of the $201 billion in revenue that the company booked las
By Nora Eckert and David Shepardson DETROIT, Aug 26 (Reuters) – Just last week, automakers were hoping summer U.S.-Canada trade talks would deliver relief from Washington’s 25% tariffs that have raised the cost of shipping vehicles and parts across the border. Instead, their problem got twice as bad
Prices consumers pay for a variety of goods and services rose slightly in July, according to the Federal Reserve’s main inflation gauge. The personal consumption expenditures price index, which the Fed uses as its preferred forecasting tool, increased a seasonally adjusted 0.2% for the month, puttin
OAKLAND, Calif. (AP) — Meta agreed Wednesday to pay up to $18 billion and add stronger child-safety measures to its Facebook and Instagram platforms as part of a landmark legal settlement that ended a trial over teen social media addiction and settled claims filed by nearly every state. The settleme
By Arasu Kannagi Basil Aug 26 (Reuters) – Billionaire Mark Walter’s holding company, TWG Global, is working with U.S. regulators to address concerns over related-party investments on the books of his insurance companies, the firm said in a statement on Wednesday, adding there had been “no fraud.” Gr
Aug 26 (Reuters) – French food caterer Sodexo said on Wednesday it planned to cut more than 1,000 jobs in France as part of an overhaul meant to accelerate growth and improve competitiveness. The company said it would eliminate 963 positions, equal to 4% of its French workforce, while a separate pro
WASHINGTON (AP) — An inflation measure closely watched by the Federal Reserve stayed elevated last month in the latest sign that many Americans are still struggling with higher costs. Stubbornly high prices are shaping up to be a key issue in the midterm elections, now just 10 weeks away, particular
WASHINGTON (AP) — The U.S. economy grew at a sluggish 1.5% pace from April through June. But consumer spending stayed strong. Growth in gross domestic product — the nation’s output of a goods and services — decelerated from a 2.1% pace from January through March, the Commerce Department reported Wed
DUBAI, United Arab Emirates (AP) — Dubai International Airport, one of the world’s busiest hubs, said Wednesday it saw a sharp drop in passengers during the second quarter as the Iran war disrupted air travel and prompted many travelers to choose routes that avoided the Middle East. The airport reco
KYIV, Ukraine (AP) — President Volodymyr Zelenskyy on Wednesday awarded Elon Musk Ukraine’s Order of Freedom, one of its highest state honors, for his “outstanding personal merits” in protecting human life and freedom and strengthening ties with the United States. Musk, the founder of the aerospace
LONDON, Aug 26 (Reuters) – The British-based chief executive of a cryptocurrency company who is wanted in the United States on charges of wire fraud and market manipulation faces being sent to the U.S. to stand trial after he lost his fight against extradition last week. Manpreet Kohli, a 45-year-ol
By Sinéad Carew and Suzanne McGee Aug 26 (Reuters) – U.S. software shares have been on a roller coaster and more wild rides likely lie ahead, thanks to AI-driven uncertainty and the rise of trading strategies that investors say are accentuating the swings in popular technology sectors. After hitting
NEW YORK (AP) — Just weeks after Hurricane Helene devastated the American South in 2024, Dolly Parton stood on a stage in her iconic blonde wig, with a song on her lips. She promised the flood-ravaged community in her native Tennessee — to the tune of her classic song “Jolene” — that “we’re all here
WASHINGTON (AP) — With the few months they have left as senators, Democrat Dick Durbin and Republican Bill Cassidy have embarked on a mission to save tens of millions of Social Security beneficiaries from a projected 22% cut in their benefits, starting in just six years. It is one of the most perilo
By Anuja Bharat Mistry, Shania S Thomas and Danielle Kaye Aug 26 (Reuters) – Kohl’s on Wednesday missed Wall Street estimates for second-quarter sales as muted spending on women’s clothing and skincare products offset gains from the department-store chain’s push to revitalize the business. The comp
By Sanskriti Shekhar and Danielle Kaye Aug 26 (Reuters) – Bath & Body Works on Wednesday raised its forecast for full-year profit and beat estimates for second-quarter results, benefiting from demand for body care products and home fragrances on digital channels. Younger consumers have prioritized s
Aug 26 (Reuters) – Chinese AI startup MiniMax on Wednesday posted a nearly four-fold jump in first-half revenue as demand for its low-cost models and AI platform accelerated, with the company continuing to target cheaper ways to deploy AI at scale. Revenue for the six months ended June 30 rose 283.1
