By Anuja Bharat Mistry (Reuters) -TJ Maxx parent TJX Cos posted better-than-expected first-quarter results and raised its annual profit forecast on easing costs and strong demand for its affordable products, sending its shares up 6% on Wednesday. Lower prices compared to department stores and cooling inflation have allowed shoppers more room to shop outside just…
MOSCOW (Reuters) – Russian President Vladimir Putin has granted American Express Co the right to “voluntary liquidate” its Russian business, according to a decree published on the official website. It is not specified in the decree how and when exactly the “liquidation” process will take place. The future of American Express in Russia has been…
BENGALURU (Reuters) – Walt Disney has struck a deal to sell its stake in Tata Play, valuing Indian conglomerate Tata Group’s satellite TV provider at about $1 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter. The stake sale news comes as the U.S.-based media giant looks to focus on its merger…
By Chris Prentice and Nupur Anand NEW YORK (Reuters) – The U.S. Commodity Futures Trading Commission is expected as soon as Wednesday to announce a $100 million settlement with JPMorgan Chase & Co over trade reporting lapses, a source with direct knowledge of the matter told Reuters. The bank is expected to admit that it…
LONDON (Reuters) – Ether was set for its largest two-day gain in nearly two years on Tuesday amid speculation about the outcome of applications for U.S. spot exchange-traded funds that track the world’s second-biggest cryptocurrency, while bitcoin also approached a record high. Ether, which underpins the ethereum blockchain network, was 8% higher on the day…
(Reuters) – Amazon.com’s cloud services unit has paused orders of Nvidia’s most advanced “superchip” to wait for a more powerful new model, the Financial Times reported on Tuesday. The new model called Blackwell, the chip sector heavyweight’s new flagship AI processor, is expected to ship later this year, Nvidia said in March. Amazon Web Services,…
By Max A. Cherney SEATTLE (Reuters) – Microsoft plans to announce several pieces of hardware and software related to consumer devices on Monday at an event at its Redmond, Washington, campus. The Windows maker is expected to reveal a new version of its Surface Pro tablet and Surface Laptop that feature Qualcomm chips based on…
By Krystal Hu (Reuters) – Neros, an autonomous drone startup founded about a year ago, has raised $10.9 million in a seed round from Sequoia Capital to build a new factory and manufacture more drones to sell to Ukraine, the company told Reuters. Neros joined a series of American drone companies trying to capitalize on…
NEW YORK (Reuters) -JPMorgan Chase on Monday raised its forecast for net interest income (NII), or the difference between what it makes on loans and pays out on deposits, to $91 billion, excluding the markets division. Shares of the bank rose about 1% in premarket trading ahead of the bank’s investor day event scheduled to…
By Steve Holland and Doina Chiacu WASHINGTON (Reuters) – The United States and Saudi Arabia are close to a final agreement on a bilateral agreement after the U.S. national security adviser made significant progress in talks with the Saudis over the weekend, the White House said on Monday. White House national security spokesperson John Kirby…
