By Rajesh Kumar Singh and Kannaki Deka (Reuters) – JetBlue Airways has agreed to appoint two members from activist investor Carl Icahn’s firm to its board, avoiding a proxy fight. The 88-year-old Icahn, who goes after undervalued companies, has not spelled out the strategy he wants JetBlue to embrace. On Monday he disclosed a stake…
(Reuters) -The Biden administration is in talks to award more than $10 billion in subsidies to Intel Corp, Bloomberg News reported on Friday, citing people familiar with the matter. Negotiations are underway, and Intel’s award package will likely include both loans and direct grants, according to the report. The U.S. Department of Commerce, which oversees…
(Reuters) -JPMorgan Chase and Co will pay civil penalties of about $350 million to regulators for reporting incomplete trading data to surveillance platforms, it said in a regulatory filing on Friday. In a response to government inquiries about its trading processes, the lender said certain trading and order data through its Corporate and Investment Bank…
(Reuters) -Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80 billion or more, the New York Times reported on Friday, citing people with knowledge of the deal. The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said. Under the deal,…
(This Feb. 14 story has been corrected to change stock performance to ‘nearly 240%’ from 65%, in paragraph 2) By David Randall NEW YORK (Reuters) – Several well-known funds jumped into shares of chipmaker Nvidia at the end of last year, securities filings showed on Wednesday, potentially setting themselves up to benefit from the nearly…
By Howard Schneider and Michael S. Derby WASHINGTON/NEW YORK (Reuters) -A week of disappointing U.S. economic data, including stronger-than-expected inflation and weakening spending, has Federal Reserve policymakers doubling down on their wait-and-see approach to interest rate cuts this year, but not discouraged. The latest bit of bad news came early on Friday in the form…
(Reuters) -Applied Materials shares jumped 8% to hit an all-time high on Friday after the semiconductor equipment supplier forecast a better-than-expected second quarter on strong demand from customers looking to make AI-enabled chips. The outlook was also supported by improvement in certain electronics end-markets like smartphones and personal computers, and analysts highlighted a diversified portfolio…
By Manya Saini and Niket Nishant (Reuters) -Coinbase Global shares jumped closer to a two-year high on Friday after the crypto exchange posted its first quarterly profit since 2021, benefiting from a trading volume surge in the run-up to the approval of spot bitcoin exchange traded funds (ETFs). The stock rallied 14% to $189.28 and…
(Reuters) – Global equity funds racked up significant inflows in the week to Feb. 14 propelled by investor optimism amid a robust stock market rally, despite lingering uncertainties over the Federal Reserve’s rate cut plans. According to data from LSEG, investors acquired a net $9.12 billion worth of global equity funds during the week, marking…
By Michelle Price WASHINGTON (Reuters) – The U.S. Federal Reserve on Thursday released scenarios for its annual bank health checks which will assess how well 32 large lenders would fare under a severe economic shock, including a U.S. jobless rate of 10% and a collapse of real estate prices. The Fed’s annual “stress tests,” introduced…
