(Reuters) -Uber Technologies Chief Financial Officer Nelson Chai is planning to leave the ride-hailing company, Bloomberg News reported on Monday, citing people familiar with the matter. Chai informed Uber CEO Dara Khosrowshahi of his intentions to move on, though a decision on the timing of his departure hasn’t been made, according to the report. Uber…
By Brad Brooks (Reuters) -The last three known living survivors of the 1921 Tulsa massacre on Monday decried a judge’s dismissal of a lawsuit seeking reparations for the racist violence in Oklahoma. In a statement read by their lawyer at a news conference in Tulsa, the three, each over 100 years old, said Tulsa County…
By Brendan Pierson (Reuters) – Lawyers for a California man who says he developed a rare cancer from exposure to asbestos in Johnson & Johnson’s talc-based baby powder on Monday urged a jury to order the company to pay heavy punitive damages, calling its conduct negligent and “despicable.” “A reasonably careful corporation would not sell…
NEW YORK (Reuters) – Global hedge funds posted gains of 2.2% in June, as artificial intelligence-related stocks surged and the banking crisis eased, data provider HFR said on Monday. In the first half of the year, hedge funds added 3.45% to their investors. “Hedge funds surged in June, led by growth equity exposures and, specifically,…
(Reuters) – Shares of Apple, Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark’s “overconcentration.” Apple dropped 1.1%, leaving its market capitalization at $2.967 trillion. It closed above the $3 trillion threshold for the first time on June 30. Alphabet and…
(Reuters) – Canadian discount store chain Dollarama said on Monday its chief financial officer, J.P. Towner, would step down in the coming months to pursue another career opportunity. He became Dollarama’s finance head in March 2021, succeeding Michael Ross who stepped down after more than a decade with the company. Prior to taking up the…
By Katie Paul and Akash Sriram (Reuters) -Meta Platforms’ Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. Threads has been setting records for user growth since its launch on Wednesday, with celebrities, politicians and…
(Reuters) – The U.S. Department of Justice (DOJ) is nearing a decision on whether to challenge private equity firm Thoma Bravo’s $2.3 billion buyout deal for ForgeRock Inc, Politico reported on Monday, citing four people with direct knowledge of the matter. The development comes months after ForgeRock said it had received notice from the DOJ…
By Josephine Walker WASHINGTON (Reuters) – Republican U.S. Army combat veteran Sam Brown on Monday launched a run for his party’s nomination to challenge Nevada Democratic U.S. Senator Jacky Rosen in 2024. Rosen’s is one of about eight competitive Senate seats that Democrats will need to defend next year if they are to hold their…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The shadow over Asian markets cast by China’s economic malaise continues to darken, but chinks of light are beginning to appear – ‘peak Fed’ is drawing closer, U.S. bond yields may be topping out, and…
