By David Shepardson ARLINGTON, Virginia (Reuters) -U.S. lawmakers are considering changes to address concerns about a bill that would give the Biden administration new powers to ban Chinese-owned TikTok, the chair of the Senate Intelligence Committee who has cosponsored the legislation said on Monday. Democratic Senator Mark Warner told Reuters that aggressive lobbying by the…
By Carolina Mandl NEW YORK (Reuters) – Retail investors bought roughly $7 billion of equities last week, showing a near record appetite for shares since 2016, while U.S. hedge funds trimmed their exposure to global equities, Morgan Stanley said in a note to institutional investors seen by Reuters. The Wall Street bank said retail investors…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended higher on Monday following last week’s losses, while Federal Reserve officials’ comments bolstered the view that the U.S. central bank may be near the end of its tightening cycle. The S&P 500 added to slight gains before the close, with caution prevailing for much of…
WASHINGTON (Reuters) – U.S. Senate Foreign Relations Committee Chairman Bob Menendez on Monday said there was a temporary “lull” in Turkey’s “aggression against its neighbors” and said he is in talks with the Biden administration about the hold he has on future U.S. sales of F-16 fighter jets to Ankara. Menendez, a Democrat, said in…
(Reuters) -Uber Technologies Chief Financial Officer Nelson Chai is planning to leave the ride-hailing company, Bloomberg News reported on Monday, citing people familiar with the matter. Chai informed Uber CEO Dara Khosrowshahi of his intentions to move on, though a decision on the timing of his departure hasn’t been made, according to the report. Uber…
By Brendan Pierson (Reuters) – Lawyers for a California man who says he developed a rare cancer from exposure to asbestos in Johnson & Johnson’s talc-based baby powder on Monday urged a jury to order the company to pay heavy punitive damages, calling its conduct negligent and “despicable.” “A reasonably careful corporation would not sell…
NEW YORK (Reuters) – Global hedge funds posted gains of 2.2% in June, as artificial intelligence-related stocks surged and the banking crisis eased, data provider HFR said on Monday. In the first half of the year, hedge funds added 3.45% to their investors. “Hedge funds surged in June, led by growth equity exposures and, specifically,…
(Reuters) – Shares of Apple, Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark’s “overconcentration.” Apple dropped 1.1%, leaving its market capitalization at $2.967 trillion. It closed above the $3 trillion threshold for the first time on June 30. Alphabet and…
(Reuters) – Canadian discount store chain Dollarama said on Monday its chief financial officer, J.P. Towner, would step down in the coming months to pursue another career opportunity. He became Dollarama’s finance head in March 2021, succeeding Michael Ross who stepped down after more than a decade with the company. Prior to taking up the…
By Katie Paul and Akash Sriram (Reuters) -Meta Platforms’ Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. Threads has been setting records for user growth since its launch on Wednesday, with celebrities, politicians and…
