By Niket Nishant and Nupur Anand (Reuters) -Goldman Sachs Group Inc’s profit fell 19% as dealmaking and bond trading slumped in the first quarter and it lost money on the sale of some assets in its consumer business. Investment banking activity remains extremely muted, and while there are some green shoots emerging, clients remain cautious,…
By Noel Randewich (Reuters) – Nvidia’s stock jumped to its highest in a year on Tuesday, extending a recent rebound after HSBC flipped its recommendation on the graphics chipmaker to “buy” from “reduce,” pointing to opportunities in artificial intelligence. HSBC Head of Technology Research Frank Lee had been the only one among 48 analysts covering…
By Hilary Russ NEW YORK (Reuters) – Burger King is banking on its viral “Whopper Whopper” jingle to lift sales as part of the flagging fast-food chain’s turnaround plan, as broader economic uncertainty pushed two big franchisees into bankruptcy. The ad, which aired incessantly during National Football League playoffs in January, has drawn younger customers…
By Valerie Insinna and Nathan Gomes WASHINGTON (Reuters) -Boeing Co still plans to ramp up production of its best-selling 737 MAX passenger jet this summer, despite a recent manufacturing problem that has paused some deliveries, the planemaker’s CEO Dave Calhoun said on Tuesday. Last week, Boeing indicated that near-term deliveries of the 737 MAX will…
(Reuters) – A so-called “wholesale” central bank digital currency could hold promise for the future settlement of certain financial market transactions and processing international payments, Federal Reserve Governor Michelle Bowman said on Tuesday. While a digital dollar could make sense for interbank transactions, there could be unintended consequences like disruptions to the banking system if…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. single-family homebuilding increased for a second straight month in March, while permits for future construction surged, offering some glimmers of hope for the depressed housing market ahead of the busy spring selling season. The improvement in the single-family housing market segment, which was reported by the Commerce Department…
(Reuters) -Bankrupt crypto exchange FTX’s potential revival has drawn interest from venture firm Tribe Capital, Bloomberg News reported on Tuesday citing people familiar with the matter. Tribe is considering leading a $250 million fund-raising campaign, anchored by $100 million from itself and its limited partners, the report said citing one of the people. Bahamas-based FTX…
By Niket Nishant and Tatiana Bautzer (Reuters) -Goldman Sachs Group Inc is exploring the sale of its Greensky fintech business, the bank’s CEO said on Tuesday, its latest move to scale down its retail ambitions. Greensky, which facilitates home improvement loans to consumers, was acquired by Goldman in September 2021 in a $2.24 billion stock…
By Jonathan Stempel NEW YORK (Reuters) – A federal judge on Tuesday ordered JPMorgan Chase & Co CEO Jamie Dimon to set aside two days for depositions about what he knew about the bank’s relationship with sex offender and former client Jeffrey Epstein. The largest U.S. bank faces lawsuits seeking damages by women who claim…
By Foo Yun Chee BRUSSELS (Reuters) -The European Union on Tuesday agreed a 43 billion euro ($47 billion) plan for its semiconductor industry in an attempt to catch up with the United States and Asia and start a green industrial revolution. The EU Chips Act, proposed by the European Commission last year and confirmed by…
