(Reuters) – Wells Fargo & Co said on Tuesday U.S. government agencies, including the Department of Labor, are reviewing certain transactions in the bank’s 401(k) plan. The fourth-largest U.S. bank said in a filing that federal government agencies “are reviewing certain transactions associated with the employee stock ownership plan feature of the company’s 401(k) plan,…
SHANGHAI (Reuters) – China’s Lenovo Group, the world’s biggest maker of personal computers, reported a 62% rise in third-quarter profit on Wednesday. Profit for the quarter ended Dec. 31 jumped to $640 million from $395 million in the same period a year earlier. (Reporting by Brenda Goh; Editing by Himani Sarkar)
By Jonnelle Marte (Reuters) – Small businesses continue to struggle financially and many are facing greater challenges with managing supply chain challenges and hiring enough workers, according to a survey released Tuesday by the Federal Reserve. While some small businesses have seen their revenues increase, the recovery has been uneven, with smaller firms and those…
WASHINGTON (Reuters) – The White House said on Tuesday the development of Nord Stream 2 is “not moving forward at this point in time” after steps by Germany to halt the Baltic Sea gas pipeline project. White House spokesperson Jen Psaki declined to say whether Germany’s decision was reversible. Germany on Tuesday halted the undersea…
By Davide Barbuscia and Devik Jain (Reuters) -As the S&P 500 hovers near correction territory, Wall Street is gauging the further effect of the conflict between Russia and Ukraine on asset prices, with some strategists warning investors to keep their cool and focus on longer-term market trends. Worries over geopolitical strife and a more hawkish…
By Karin Strohecker and Megan Davies LONDON/NEW YORK (Reuters) – The U.S. government broadened restrictions on trading of Russian government debt on Tuesday in a bid to punish Moscow for ratcheting up its conflict with Ukraine, a move that analysts said might have a moderate impact near-term but could be a step toward harsher measures….
SAO PAULO (Reuters) – Shareholders of Brazilian state-run power company Eletrobras approved on Tuesday the terms for the privatization of the company, according to a Valor Economico report citing sources. According to the report, the company’s shareholders approved 12 items at a general meeting, including its privatization. Brazil’s government expects the privatization to happen through…
(Reuters) -Woolworths Group on Wednesday beat first-half profit estimates and forecast improved financial performance in the second half, as Australia recovers from the pandemic, sending the company’s shares up 4%. Woolworths and its smaller rival Coles Group collectively sell about two-thirds of the country’s groceries and have benefited significantly from people stocking up pantries for…
OMAHA, Neb. (AP) — The hedge fund trying to buy newspaper publisher Lee Enterprises returned to court Tuesday in a bid to settle a dispute over how votes for two longtime board members should be counted next month at the company’s annual meeting. Alden Global Capital has already lost one lawsuit in the takeover battle…
By Laura Sanicola (Reuters) -Oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014 after Moscow ordered troops into two breakaway regions in eastern Ukraine. Benchmark Brent futures pared gains in late trading after Western governments announced sanctions aimed at stopping what they fear is the beginning of a full-scale…
