(Reuters) -Istanbul’s stock exchange operator suspended trading until Feb. 15 and cancelled all Wednesday’s trades in the wake of devastating earthquakes that struck Turkey and Syria on Monday. The tremors rocked Turkey and Syria in the early hours of Monday, with hundreds of buildings collapsing and the combined death toll across both countries climbing above…
MIAMI (Reuters) – JPMorgan Chase & Co. Chief Executive Jamie Dimon told Reuters on Wednesday that the U.S. economy remained in good shape, but warned “sticky” inflation could prompt the Federal Reserve to raise interest rates above 5%. (Reporting by Lananh Nguyen; writing by Saeed Azhar, editing by Deepa Babington)
By Michel Rose, Belén Carreño and Kate Abnett PARIS/MADRID/BRUSSELS (Reuters) – A new row has erupted between France, Germany and Spain over nuclear energy, with Paris furious about a lack of support from Berlin and Madrid for its efforts to have nuclear-derived hydrogen labelled as ‘green’ in EU legislation, sources said. The dispute, which could…
(Reuters) – Netflix Inc on Wednesday laid out plans to crackdown on password sharing for accounts on its streaming platform, including setting up primary location and paying a couple of dollars for an extra member. The video-streaming giant, which has estimated that 100 million around the world use a shared account, said that members can…
BERLIN/FRANKFURT (Reuters) -Bayer bowed to investor pressure on Wednesday and named Bill Anderson, most recently head of Roche’s pharmaceuticals business, to take over from Werner Baumann as its CEO in June. Anderson’s appointment, which takes effect from June 1, comes after mounting shareholder pressure to remove Baumann, who engineered Bayer’s troubled Monsanto takeover, and install…
(Reuters) – Societe Generale, France’s third biggest bank, has been drawn into a probe by the U.S. securities regulator on whether its staff had used unauthorized messaging platforms, according to the lender’s annual report released on Wednesday. The U.S. Securities and Exchange Commission (SEC) sought information from SocGen’s U.S. unit related to “compliance with record-keeping…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Ancora Group Holdings, a key shareholder in U.S. auto retailer IAA, has accumulated a 0.5% stake in Canada’s Ritchie Bros Auctioneers and is publicly challenging investors who oppose their planned merger, according to documents seen by Reuters. Activist investor Ancora, which has successfully pushed for change at companies…
By Howard Schneider WASHINGTON (Reuters) – The strong January job gains of half a million new positions coupled with moderating wage growth has increased hopes for a “soft landing” as the Fed continues with interest rate increases but the labor market powers ahead, Federal Reserve Gov. Lisa Cook said on Wednesday. Cook said the Fed…
By Jonathan Stempel (Reuters) – A federal judge in Chicago has dismissed a proposed class action lawsuit accusing Walmart Inc of deceiving shoppers by selling Fudge Mint cookies that lacked fudge and mint. Eugene DeMaso, of La Salle, Illinois, said packaging for the cookies sold under Walmart’s Great Value label misled reasonable consumers because the…
(Reuters) – Uber Technologies Inc said on Wednesday it would focus on delivering profits this year, after rounding off 2022 with blowout earnings as a surge in demand for airport and office rides helped the company rebound from pandemic lows. Uber’s shares surged nearly 8% in premarket trading after the company reported a surprise fourth-quarter…
