(Reuters) – U.S. economic activity increased slightly in recent weeks, with slow growth seen continuing in coming months, according to a Federal Reserve report published on Wednesday that also offered further indications of abating inflation pressures. “Overall economic activity increased slightly since late May,” the U.S. central bank said in its latest “Beige Book” compendium…
WASHINGTON (Reuters) – The State Department on Wednesday said it has no reason to doubt Microsoft’s accusation that Chinese state-linked hackers since May have secretly accessed email accounts at around 25 organizations, including U.S. government accounts, in a stealthy cyberespionage campaign. State Department spokesperson Matthew Miller said the agency had detected anomalous activity in June…
(Reuters) – Circle said on Wednesday it has reduced staff and ended investments in non-core activities as the stablecoin issuer seeks to shore up its balance sheet. The company joins a list of cryptocurrency firms that have announced layoffs this year as a high interest rate environment and sliding crypto prices have dented investor confidence…
By Laura Sanicola (Reuters) -Oil prices settled higher on Wednesday, with benchmark Brent futures breaching $80 a barrel for the first time since May, after U.S. inflation data spurred hopes the Federal Reserve may have fewer interest rate hikes in store for the world’s biggest economy. U.S. data showed consumer prices rose modestly in June…
AbbVie (NYSE: ABBV) has caught the attention of a deep-pocketed individual or institution with a bearish outlook, and this development should raise eyebrows among retail traders. Our team detected this intriguing occurrence today through publicly available options history, which we diligently monitor. While the identity of this major player remains unknown, such a…
By Luc Cohen NEW YORK (Reuters) -U.S. prosecutors on Wednesday unveiled an indictment charging a second former executive of college financial aid startup Frank with defrauding JPMorgan Chase into buying the company for $175 million. Olivier Amar, 49, who was Frank’s chief growth officer, was charged with wire fraud, bank fraud, securities fraud and conspiracy….
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation subsided further, but probably not fast enough to dissuade the Federal Reserve from resuming raising interest rates this month. The report from the Labor Department on Wednesday also showed…
Zscaler, Inc. (NASDAQ: ZS) faced a sharp decline in its shares on Wednesday due to concerns arising from intensified competition posed by Microsoft (NASDAQ: MSFT). The cause for worry stems from Microsoft’s recent introduction of two new products: Microsoft Entra Internet Access and Microsoft Entra Private Access. These offerings are part of Microsoft’s…
By Moira Warburton and Ann Saphir WASHINGTON (Reuters) -U.S. President Joe Biden’s three Federal Reserve Board nominees, including his pick to fill the influential Fed vice chair post, advanced toward full Senate confirmation after winning backing from the Senate Banking Committee on Wednesday. Lawmakers led by the panel’s chair, Democrat Sherrod Brown, voted unanimously in…
PARIS (Reuters) -With the exception of Canada, countries with digital services taxes have agreed to hold off applying them for at least another year as a global multinationals tax deal to replace them was pushed back, the OECD said on Wednesday. More than 140 countries were supposed to start implementing next year a 2021 deal…
