By Lewis Krauskopf, Bansari Mayur Kamdar and Johann M Cherian (Reuters) – Wall Street’s main indexes ended with modest declines on Wednesday as investors digested minutes from the U.S. Federal Reserve’s latest meeting and braced for significant economic data in the days to come. Minutes showed a united Fed agreed to hold interest rates steady…
(Reuters) – A U.S. bankruptcy judge on Wednesday allowed SVB Financial Group, owner of bankrupt Silicon Valley Bank, to sell its investment banking business to the division’s founder. Buyers include a group led by the unit’s founder and former CEO, Jeff Leerink, and is backed by funds managed by the Baupost Group. The deal includes…
By Steve Gorman LOS ANGELES (Reuters) – Thousands of Los Angeles-area hotel staffers returned to work on Wednesday from a three-day strike without a contract, but union leaders threatened further walkouts to come as they push for improved wages, benefits and working conditions. Chief among their demands are pay hikes that would allow the union’s…
By Lewis Jackson SYDNEY (Reuters) -PwC Australia provided Google confidential information about the start date of a new tax law leaked from Australian government tax briefings, according to two sources familiar with the matter. This is the first time a company has been directly linked to the national scandal involving the “big four” accounting firm…
By Anna Tong (Reuters) – ChatGPT’s creator OpenAI plans to invest significant resources and create a new research team that will seek to ensure its artificial intelligence remains safe for humans – eventually using AI to supervise itself, it said on Wednesday. “The vast power of superintelligence could … lead to the disempowerment of humanity…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. U.S. Treasury Secretary Janet Yellen touches down in Beijing on Thursday for a three-day visit just as trade tensions between the world’s two superpowers ratchet up another notch, while a Malaysian interest rate decision tops the…
NEW YORK (Reuters) – Bank of America (BofA) said on Wednesday it planned to increase its quarterly common stock dividend to 24 cents per share from 22 cents per share beginning in the third quarter of 2023. BofA, unlike other major U.S. banks, had held back a decision on the dividend last week. Rivals JPMorgan…
By Shariq Khan BENGALURU (Reuters) – U.S. crude oil gained about 3% on Wednesday, narrowing the price gap with global benchmark Brent in a post-holiday response to supply cuts announced on Monday by Saudi Arabia and Russia. U.S. West Texas Intermediate crude (WTI) rose $2 from Monday’s close, or 2.9%, to settle at $71.79 a…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of New York President John Williams said on Wednesday it was the right move for the central bank to hold rates steady three weeks ago, while hinting at some point it may have to raise rates again amid ongoing economic strength. “We still have…
By Jason Lange WASHINGTON (Reuters) – Republican presidential candidate Donald Trump’s main fundraising committee raised more than $35 million during the April-June period, a campaign official said, nearly twice what the group gathered in the prior three months. The acceleration in fundraising could be a sign that Trump’s 2024 campaign coffers are benefiting from the…
