By David Lawder and Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund’s steering committee on Friday said it would accelerate its discussions on quota reforms at the global lender with an eye to making “considerable progress” by its next meeting in October. Spanish Economy Minister Nadia Calvino, who chairs the International Monetary and Financial Committee…
By Steve Stecklow, Waylon Cunningham and Hyunjoo Jin (Reuters) – Two U.S. senators have written to Elon Musk, Tesla Inc’s chief executive, questioning him about the sharing by employees of sensitive images recorded by cameras in customers’ vehicles. “This apparent willful disregard for the privacy of Tesla customers is unacceptable and raises serious questions about…
(Reuters) -Best Buy Co Inc is cutting store jobs across the United States as the electronics retailer looks to trim costs and shift its business more towards e-commerce, the Wall Street Journal reported on Friday, citing people familiar with the situation. The layoff would affect hundreds of jobs across Best Buy’s U.S. stores, the report…
By Mehnaz Yasmin and Niket Nishant (Reuters) – JPMorgan Chase & Co on Friday reported a surge in deposits in the first quarter, as the sudden collapse of two U.S. regional banks in March drove customers to move their money to bigger lenders. The largest U.S. lender gained $50 billion in deposits at the end…
(Reuters) – Billionaire Elon Musk is working on launching an artificial intelligence start-up that will rival ChatGPT-maker OpenAI, the Financial Times reported on Friday citing people familiar with his plans. (Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra Eluri)
By Noor Zainab Hussain, Manya Saini and Saeed Azhar (Reuters) -Wells Fargo & Co’s profit surpassed expectations for the first quarter on Friday as it earned more from higher interest rates, even while executives forecast tighter monetary policy would dampen economic activity. The bank also reported a $643 million increase in the allowance for credit…
By Herbert Lash NEW YORK (Reuters) -Treasury yields rose and the dollar index bounced off a one-year low on Friday, after a decline in U.S. retail sales suggested the economy is slowing but not fast enough to stop the Federal Reserve from raising interest rates again in May. Traders of futures tied to the Fed’s…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Friday that the International Monetary Fund has adequate resources to deal with global financing challenges but needs to follow through with “fair and simple” shareholding reforms that reflect the economic size of its member countries. Yellen also said in a statement to the IMF’s steering…
(Reuters) – Southwest Airlines expects an ongoing Boeing 737 MAX manufacturing problem to delay some plane deliveries this year, Southwest said Friday. “We are in discussions with Boeing to understand what that impact will be in 2023 and beyond,” the company said. The manufacturing problem involves fittings that were incorrectly installed on the fuselage made…
(Reuters) – Contract drug manufacturer Catalent Inc on Friday warned that low production at three of its facilities and higher costs would impact its fiscal 2023 results and said its CFO Thomas Castellano has stepped down, sending its shares down 20%. The company’s clients have included COVID-19 vaccine makers such as Moderna Inc and Johnson…
