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(This Apr. 5 story has been corrected to change jurisdiction in the case caption information) By Blake Brittain (Reuters) – Chipotle Mexican Grill Inc sued fast-casual dining rival Sweetgreen Inc in California federal court Tuesday, claiming the salad chain’s new “Chipotle Chicken Burrito Bowl” violates its trademark rights. Chipotle’s lawsuit said Sweetgreen’s “very similar and…
By Siddharth Cavale and Abhirup Roy NEW YORK (Reuters) -Walmart Inc plans to have its own network of electric vehicle charging stations by 2030 to tap into the growing adoption of EVs in the United States. The new fast-charging stations will be placed at thousands of Walmart and Sam’s Club stores, alongside nearly 1,300 it…
By Patturaja Murugaboopathy and Chuck Mikolajczak (Reuters) – U.S. dividend funds have faced steep outflows this year after strong inflows last year as investors rush to safer money market funds and bank deposits, providing high returns without much risk. Interest rates on short-tenor bonds have risen this year on expectations that the U.S. Federal Reserve…
By Nupur Anand and Mehnaz Yasmin (Reuters) – Morgan Stanley Chief Executive James Gorman’s total compensation rose nearly 13% to $39.4 million in 2022 versus a year earlier, according to a filing Thursday. That is higher than the $31.5 million package the bank reported in January, which reflected a 10% pay cut. The updated numbers…
By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain at around 3% for the next five years, Managing Director Kristalina Georgieva said on Thursday, flagging increased downside risks. That is the global lender’s lowest medium-term growth forecast since 1990, and well below…
(Reuters) – Wall Street’s main indexes opened lower on Thursday as a stronger-than-expected weekly jobless claims report pointed to growing signs that rapid interest rate hikes by the Federal Reserve was slowing down economic growth. The Dow Jones Industrial Average fell 61.76 points, or 0.18%, at the open to 33,420.96. The S&P 500 opened lower…
By Katie Paul (Reuters) – Facebook-owner Meta published an artificial intelligence model on Wednesday that can pick out individual objects from within an image, along with a dataset of image annotations that it said was the largest ever of its kind. The company’s research division said in a blog post that its Segment Anything Model,…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Complaints from consumers about banks and other financial firms in Germany rose by a fifth last year, official data shows, as regulators flex their muscles to shore up trust in the sector. BaFin, Germany’s financial watchdog, has been increasing its focus on consumer protection in the…
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Complaints from consumers about banks and other financial firms in Germany rose by a fifth last year, official data shows, as regulators flex their muscles to shore up trust in the sector. BaFin, Germany’s financial watchdog, has been increasing its focus on consumer protection in the…
By Naomi Rovnick and Sumanta Sen LONDON (Reuters) – Banking sector turmoil has not dented demand for equities, with MSCI’s world stock index up 7% so far this year. Hopes that the Federal Reserve and others could soon pause the most aggressive interest rate hiking cycle in decades has supported stocks even as sentiment more…
