(Reuters) -Wall Street banks including JPMorgan Chase & Co and Goldman Sachs Group Inc are looking to start trading private credit loans, Bloomberg News reported on Wednesday, citing people familiar with the matter. The banks are among the firms talking to private debt funds about facilitating secondary-market transactions, according to the report. JPMorgan and Goldman…
By Hilary Russ NEW YORK (Reuters) – Starbucks shareholders approved a proposal for the coffee chain to conduct an independent assessment of its labor practices as it contends with hundreds of newly unionized U.S. cafes, according to voting results filed on Wednesday. The proposal won 52% of votes. Results came the same day ex-Chief Executive…
WASHINGTON (Reuters) -The White House is preparing to release more of its promised plans to strengthen U.S. bank oversight as soon as this week after Silicon Valley Bank’s collapse of earlier this month, according to a person familiar with the preparations. President Joe Biden, a Democrat, is expected to push for rules to be reinstated…
By Dawn Chmielewski and Lisa Richwine (Reuters) -Walt Disney Co has laid off Marvel Entertainment Chairman Isaac “Ike” Perlmutter as part of a cost-cutting campaign, a source confirmed on Wednesday. Perlmutter, 80, had supported activist shareholder Nelson Peltz’s unsuccessful bid this year to obtain a seat on Disney’s corporate board. The executive was informed by…
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s digital personal finance tool, Life Plan, has attracted more than $55 billion in new money since its launch in late 2020, as customers use technology to set financial goals. Life Plan, which has more than 10 million users, enables customers to…
By David Shepardson WASHINGTON (Reuters) – The U.S. Treasury Department’s long-awaited guidance on battery sourcing requirements for electric vehicle tax credits due out by Friday will result in fewer vehicles getting full or partial credits, a U.S. official told Reuters. In December, Treasury decided not to issue the proposed guidance on battery sourcing rules until…
By David Lawder, Kanishka Singh and Andrea Shalal WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Wednesday rejected the idea of a near-term capital increase for the World Bank and said she expected the U.S. nominee to lead the institution, former Mastercard CEO Ajay Banga, to be elected president of the multilateral lender. Yellen told…
By Mike Scarcella (Reuters) – Alphabet Inc’s Google LLC intentionally destroyed employee “chat” evidence in antitrust litigation in California and must pay sanctions and face a possible penalty at trial, a U.S. judge ruled on Tuesday. U.S. District Judge James Donato in San Francisco said in his order that Google “fell strikingly short” in its…
By Arathy Somasekhar HOUSTON (Reuters) -Oil edged slightly higher on Wednesday as worries of tight supply after an unexpected draw in U.S. oil stocks and a halt to some Iraqi Kurdistan oil exports were partially offset by a smaller-than-expected output cut in Russia. Brent crude was up 27 cents, or 0.3%, to $78.91 a barrel…
By Krystal Hu NEW YORK (Reuters) – Microsoft-backed OpenAI is no longer the only game in town for software developers looking to capitalize on an expected $90 billion market for artificial intelligence. Motivated by a wariness of relying on a single company, a desire for models tailored to specific tasks and the chance to cut…
