By Elizabeth Dilts Marshall and Niket Nishant (Reuters) -Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co described the challenges facing the U.S. economy akin to an “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession. Dimon’s comments come…
By Jarrett Renshaw (Reuters) -U.S. President Joe Biden will meet with major infant formula manufacturers on Wednesday as his administration presses ahead with efforts to boost imported supplies to help ease a nationwide shortage. The latest effort includes an announcement on Wednesday that United Airlines has agreed to transport U.K.-made Kendamil formula free of charge…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. job openings fell in April, but remained at considerably high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably high for a while. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on…
ROME (Reuters) -Telecom Italia’s (TIM) top investor Vivendi would only back a sale of the Italian phone group’s fixed network if it adequately valued TIM’s main infrastructure asset, the CEO of the French group was quoted as saying. The comments comes after TIM on Sunday took the first step towards spinning off its landline grid…
By Tom Sims, Frank Siebelt and Paul Carrel FRANKFURT (Reuters) -The chief executive of top German asset manager DWS will step down next week, he said on Wednesday, a day after raids by prosecutors over allegations that the company misled investors about “green” investments. The raids and departure of DWS CEO Asoka Woehrmann mark another…
WASHINGTON (AP) — The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high and companies are still desperate to hire more people. Employers advertised 11.4 million jobs at the end of April, the Labor Department said Wednesday, down from nearly 11.9 million in March, the highest…
By Uday Sampath Kumar (Reuters) -Capri Holdings Ltd raised its profit forecast for the full year on Wednesday, as Versace dresses and Michael Kors handbags come back in vogue for higher-income consumers returning to their lavish shopping routines. Shares of Capri, which also owns Jimmy Choo, rose 4.6% to $50.98 as the company announced a…
By Paul Lienert (Reuters) -General Motors Co’s Buick brand, once one of America’s pioneer auto companies, said Wednesday that its future North American lineup will be all-electric by 2030. That target will make Buick one of GM’s lead brands, along with Cadillac, in pursuing the corporate goal of phasing out internal combustion engines by 2035….
(Reuters) – BlackBerry Ltd said on Wednesday it was exploring other options to sell its patents as the planned deal with Catapult IP Innovations Inc was taking longer than usual to close, leading to a loss in exclusivity. The Canadian company had earlier this year agreed to sell its patents primarily related to mobile devices,…
(Reuters) – Futures tracking the Dow and the S&P 500 edged higher on Wednesday after Salesforce posted robust quarterly results, while investors awaited factory activity data for cues on the strength of the U.S. economy. Shares of Salesforce jumped 8.6% in premarket trading after the enterprise software firm raised its full-year adjusted profit outlook and…
