By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) -Goldman Sachs’ board supports CEO David Solomon’s focus on its core Wall Street businesses and asset management, according to two sources close to Solomon. The executive is tasked with reviving the bank’s stock, even as scepticism from some investors and employees grows. The 12-member board of…
WASHINGTON (Reuters) – The White House on Tuesday along with companies such as Amazon.com Inc, Alphabet’s Google and Best Buy will announce an initiative that allows Americans to identify devices that are less vulnerable to cyberattacks. A new certification and labeling program would raise the bar for cybersecurity across smart devices such as refrigerators, microwaves,…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada on Tuesday defended its decision to push ahead with its implementation of digital services taxes starting next year, citing national interest even as Finance Minister Chrystia Freeland expressed hope in reaching an international consensus. More than 140 countries were planning to implement a 2021 deal that…
By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators are opening a special crash investigation into a fatal accident in California involving a 2018 Tesla Model 3 suspected of relying on advanced driver assistance systems, the government agency said on Tuesday. The National Highway Traffic Safety Administration (NHTSA) is probing the July 5 crash in…
(Reuters) – Big U.S. banks on Tuesday said higher interest rates had helped boost profits in the second quarter, causing shares to spike, but a pullback in consumer spending, slower loan growth and increased deposit costs may cloud the outlook for the sector. Signs of a revival in investment banking, which has been in the…
By Tatiana Bautzer and Mehnaz Yasmin (Reuters) – Morgan Stanley’s profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment. Morgan Stanley shares rose more than 6%, shrugging off the 14% drop in profits. Excluding one-off items, Morgan Stanley…
By Saeed Azhar and Manya Saini NEW YORK (Reuters) -Bank of America’s second-quarter profit beat Wall Street estimates as it earned more from customers’ loan payments while investment banking and trading fared better than expected. The second-largest U.S. lender projected its net interest income (NII) would increase 8% this year after it rose 14% in…
By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines first officer Phil Anderson has turned down opportunities to be promoted to captain as he does not want the unpredictable schedule that comes with the bigger paycheck. Anderson is one of many who have passed on that promotion at United, and analysts and union officials said…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks advanced on Tuesday, partly boosted by a round of solid bank earnings which helped put the Dow on track for its longest streak of daily gains in more than two years. Morgan Stanley shares jumped 6.45%, their biggest one-day percentage climb since Nov. 9, 2020 after…
By Herbert Lash NEW YORK (Reuters) – The dollar rebounded off a 15-month low and global stock markets rose on Tuesday as upbeat earnings on Wall Street and retail sales pointing to a resilient U.S. economy sealed expectations that the Federal Reserve will hike interest rates next week. Bank of America posted a 20% surge…
