By Tatiana Bautzer and Manya Saini (Reuters) -Citigroup beat Wall Street expectations for second-quarter profit on Friday, boosted by a 60% jump in investment banking revenue and gains in its services division, sending the company’s shares up 3% before the bell. The third largest U.S. lender reported a profit of $1.52 per share in the…
(Reuters) -Tesla is delaying the launch of robotaxi by about two months to October as the design team was told to rework some elements of the car, Bloomberg News reported on Thursday, citing people familiar with the decision. Shares of Tesla, which is betting on self-driving vehicles over less-expensive cars, closed more than 8% down…
By Kanishka Singh WASHINGTON (Reuters) – Discount store operator Dollar General has agreed to pay $12 million in penalty for alleged safety violations that led to blocked exits and fire extinguishers and unsafe storage, requiring the company to improve workplace safety in stores across the U.S. in a settlement with the federal Labor Department, the…
By Nora Eckert DETROIT (Reuters) – Ford Motor is receiving a reduced incentive package from Michigan for its battery plant in the city of Marshall after the automaker cut expected production at the facility to match demand for electric vehicles. The Dearborn, Michigan-based car company is building the plant and plans to license technology to…
By Ernest Scheyder (Reuters) – Mining trade groups plan to push Washington to revive and expand the long-dormant Bureau of Mines, an effort aimed at streamlining how the U.S. government regulates and supports critical minerals production and timed to coincide with the 2024 presidential election. The lobbying campaign, details of which have not previously been…
By Suzanne McGee (Reuters) – Shares of headphone maker Koss Corp. soared for the second session in a row on Friday, closing at $13.35 a share, after trading as high as $18.50 early in the day, as social media posts speculated that a post by meme stock influencer Keith Gill indicated his interest in the…
By Daniel Wiessner (Reuters) -Microsoft Corp has agreed to pay $14 million to settle a California agency’s claims that it illegally penalized workers who took medical or family-care leave, the agency said on Wednesday. The California Civil Rights Department in filings in state court accused the tech giant of retaliating against its California-based employees who…
By Yuvraj Malik and Jaspreet Singh (Reuters) – Meta Platforms’ newest social media offering Threads has over 175 million monthly active users, CEO Mark Zuckerberg revealed on Wednesday, ahead of its first anniversary. A challenger to X, formerly known as Twitter, Threads hit app stores on July 5 last year, timed to win users from…
(Reuters) -AbbVie lowered its 2024 adjusted profit forecast on Wednesday, citing $937 million in milestones, and research and development expenses related to acquisitions. The drugmaker has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection last year. The company expects annual adjusted profit in the range of $10.61 to…
(Reuters) – Robinhood Markets is considering offering cryptocurrency futures in the U.S. and Europe in the coming months, Bloomberg News reported on Tuesday, citing people familiar with the matter. The commission-free trading app is hoping to use the licenses of crypto exchange Bitstamp, which it agreed to buy last month in a $200 million deal,…
