(Reuters) – Money market funds are set for a reprieve on “swing pricing” when Wall Street’s top regulator votes on Wednesday to help control systemic risk in the money market and large liquidity fund sectors, Bloomberg News reported on Tuesday. Swing pricing involves adjusting a fund’s value in line with trading activity so that redeeming…
By David Shepardson WASHINGTON (Reuters) – United Airlines Chief Executive Scott Kirby met on Tuesday with the acting head of the Federal Aviation Administration (FAA), officials told Reuters, after he blasted its air traffic control performance last month. Kirby in a June 26 in a memo to employees expressed frustration “the FAA frankly failed us…
MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil on Tuesday said its net profit surged 89.1% in the second quarter on the back of foreign exchange gains. The company, controlled by the family of Mexican tycoon Carlos Slim, posted a net profit of 25.87 billion pesos ($1.5 billion), beating the Refinitiv estimate of 22.61 billion…
By Stephen Nellis SAN FRANCISCO (Reuters) – International Business Machines (IBM) is considering the use of artificial intelligence chips that it designed in-house to lower the costs of operating a cloud computing service it made widely available this week, an executive said Tuesday. In an interview with Reuters at a semiconductor conference in San Francisco,…
By Richard Cowan and Moira Warburton WASHINGTON (Reuters) -Republican U.S. Senator Tommy Tuberville on Tuesday said white nationalists are racist after having denied that earlier in the day, an incident that drew criticism from the chamber’s top Democrat, Majority Leader Chuck Schumer. “White nationalists are racist,” Tuberville, a first-term senator and former college football coach,…
(Reuters) -KPMG said on Tuesday it will spend $2 billion on artificial intelligence and cloud services through an expanded partnership with Microsoft, closely following Accenture in betting on the latest technologies to weather a slowdown in advisory deals. The accounting firm said it will incorporate AI into its core audit, tax and advisory services for…
By Phil Stewart and Patricia Zengerle WASHINGTON (Reuters) -President Joe Biden’s nominee to become the top U.S. general warned on Tuesday that a Republican senator’s blockade of military promotions could have a far-reaching impact across the U.S. armed forces, affecting troops and their families. “We will lose talent,” General Charles “CQ” Brown, the outgoing Air…
By Jonathan Stempel (Reuters) – A U.S. judge on Tuesday dismissed a lawsuit in which the founder of WallStreetBets, which helped ignite investors’ fascination with “meme” stocks, accused Reddit of wrongly banning him from moderating the community and usurping his trademark rights. Jaime Rogozinski, who founded WallStreetBets in 2012, said Reddit ousted him in April…
By Chiara Elisei LONDON (Reuters) – Companies around the globe took on a record $456 billion of net new debt in 2022/23, although higher interest rates should reduce appetite for new borrowing ahead, Janus Henderson said in a report published on Wednesday. The net new debt taken on in 2022/23 pushed outstanding net debt up…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks rose on Tuesday, helped by optimism ahead of key inflation reports and as JPMorgan and other financial shares gained before earnings later this week. Investors are looking for further clues on whether price pressures are abating and if the Federal Reserve is nearing the end of…
