By Echo Wang and Anirban Sen (Reuters) – Social media platform Reddit has drawn up detailed plans to launch its initial public offering (IPO) in March, moving forward with a listing it has been eyeing for more than three years, according to people familiar with the matter. It would be the first IPO of a…
By Foo Yun Chee BRUSSELS (Reuters) – Amazon’s $1.4 billion acquisition of robot vacuum maker iRobot will be blocked by EU antitrust regulators, three people familiar with the matter said on Friday, as enforcers beef up scrutiny of Big Tech deals. The U.S. online retail giant defied a European Commission’s warning that the deal could…
By Andrea Shalal (Reuters) -U.S. President Joe Biden on Friday announced student debt cancellation of nearly $5 billion for an additional 74,000 borrowers, including more than half who earned forgiveness after 10 years of public service as teachers, nurses and firefighters. The White House announcement brings the total loan forgiveness approved by the Biden-Harris administration…
By Stephen Culp NEW YORK (Reuters) – Tech shares helped power the S&P 500 to its first record high close in two years on Friday to confirm a bull market, while European stocks registered weekly declines amid fading expectations for central bank interest rate cuts. Treasury yields inched lower, while supply concerns arising from simmering…
By David Shepardson and Lisa Barrington WASHINGTON (Reuters) -An Atlas Air Boeing 747-8 cargo plane made an emergency landing in Miami late Thursday shortly after departure after suffering an engine fire. The plane with five crew members safely returned and no injuries were reported. The Federal Aviation Administration (FAA) and National Transportation Safety Board are…
By David Shepardson and Nathan Gomes (Reuters) -Ford Motor said on Friday it would reduce production of its F-150 Lightning pickup truck, as demand for electric vehicles (EVs) has been lower than expected. The No. 2 U.S. automaker said it would cut production at its Michigan Rouge Electric Vehicle Center to one shift starting April…
(Reuters) -IRobot shares slumped more than 30% in early trading on Friday after reports that the European Union antitrust regulator was planning to block Amazon.com’s $1.4 billion buyout of the Roomba vacuum maker. Reuters reported, citing sources, that the agency was considering a veto on the deal, a move that could raise the bar for…
By Blake Brittain and Stephen Nellis WASHINGTON/SAN FRANCISCO (Reuters) -Apple said on Wednesday it would remove a blood oxygen monitoring feature from two flagship Apple Watch models in the U.S. as the iPhone maker fights a legal battle over patents on the technology behind the feature. The legal fight could take a year to resolve,…
By Nandita Bose, Richard Cowan and Jeff Mason WASHINGTON (Reuters) -Republican House Speaker Mike Johnson pressed President Joe Biden on Wednesday to recast U.S. immigration policy during a meeting with lawmakers at the White House about funding for Ukraine. Republicans in Congress have blocked emergency funding that Biden has requested for Ukraine and threaten to…
By Chibuike Oguh NEW YORK (Reuters) -Several large U.S. regional banks reported lower profits on Wednesday, in a further sign that the income boost from interest rate hikes by the Federal Reserve is starting to wane. Charles Schwab, Citizens Financial and US Bancorp said that, along with one-off charges, the rising cost of retaining customer…
