By Alexandra Alper WASHINGTON (Reuters) – Chinese companies are buying up U.S. chipmaking equipment to make advanced semiconductors, despite a raft of new export curbs aimed at thwarting advances in the country’s semiconductor industry, a report said on Tuesday. The 741 page annual report, released by the U.S.-China Economic and Security Review Commission, takes aim…
(This Nov. 8 story has been corrected to say Biogen cut profit forecast due to costs related to a deal, not the launch of its Alzheimer’s drug, in paragraph 1 and the headline) (Reuters) – Biogen cut its annual profit forecast below Wall Street expectations on Wednesday, on higher expenses related to the recent acquisition…
By Pete Schroeder and Michelle Price WASHINGTON (Reuters) -The Federal Reserve’s top Wall Street cop Michael Barr and other bank regulators sought to reassure skeptical U.S. lawmakers on Tuesday that their plans to hike U.S. bank capital requirements would not impede lending or hurt small businesses. Members of the U.S. Senate Banking Committee from both…
(Reuters) – U.S. inflation is cooling at what could prove to be its fastest pace in at least 40 years, if not longer, with only a limited rise in the unemployment rate, Chicago Federal Reserve President Austan Goolsbee said on Tuesday. Goolsbee, in remarks prepared for delivery to a Detroit Economic Club event, said that…
By Deborah Mary Sophia (Reuters) -Home Depot sales were better than expected in the third quarter, bolstered by customers spending on plumbing and hardware for repair work and smaller projects, sending its shares up about 7% on Tuesday in a “sigh of relief” rally. Americans have put big renovations and discretionary home-improvement projects on the…
By David Shepardson (Reuters) -Chrysler-parent Stellantis said Monday it is offering 6,400 U.S. salaried employees voluntary buyouts as it works to cut costs amid the transition to electric vehicles and agreeing to a new United Auto Workers contract. The buyouts would be about half the company’s salaried U.S. employees not represented by a union, which…
By Siddharth Cavale NEW YORK (Reuters) – With a mixed picture of consumer demand emerging over the past quarter, earnings results from Walmart and Target on Wednesday and Thursday respectively will shed light on what lies ahead for U.S. retailers ahead of Black Friday. After a turbulent holiday season last year, when inflation peaked, shoppers’…
