By David Shepardson WASHINGTON (Reuters) -Tesla is recalling over 2 million vehicles in the U.S. to install new safeguards in its Autopilot advanced driver-assistance system, after a federal safety regulator cited safety concerns. The largest-ever Tesla recall appears to cover nearly all vehicles on U.S. roads to better ensure drivers pay attention when using the…
By Caroline Valetkevitch NEW YORK (Reuters) -The Dow Jones industrial average hit its first record closing high since January 2022 and the S&P 500 and Nasdaq rallied more than 1% each on Wednesday after the Federal Reserve signaled that its interest rate-hiking policy is at an end and that it sees lower borrowing costs in…
By Leroy Leo and Michael Erman (Reuters) -Pfizer on Wednesday forecast 2024 sales that could be as much as $5 billion below Wall Street expectations, a move top executives said provided a more reliable view of its COVID-19 business than it had this year, driving shares to a 10-year low. Revenue from Pfizer’s COVID-19 vaccine…
(Reuters) -Moderna said its Chief Commercial Officer Arpa Garay has stepped down from the role and CEO Stephane Bancel will look over sales and marketing, sending the shares of the vaccine maker down 5% on Tuesday. Garay, who was in the position for less than two years, will remain an employee through June 2024, the…
By Trevor Hunnicutt, Patricia Zengerle and Richard Cowan WASHINGTON (Reuters) -President Joe Biden warned Republicans on Tuesday that they would give Russia a “Christmas gift” if they failed to provide additional military aid to Ukrainian President Volodymyr Zelenskiy, whose meeting with a top U.S. lawmaker concluded without a commitment for more support. Zelenskiy traveled to…
(Reuters) -The Federal Reserve is seen holding off on any interest-rate cuts until at least May of next year, after a government report on Tuesday showed consumer prices unexpectedly edged back up in November. Futures contracts tied to the Fed policy rate now reflect bets the U.S. central bank will lower the policy rate to…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended in positive territory and gold slid on Monday, as investors looked ahead to crucial inflation data and the U.S. Federal Reserve’s two-day monetary policy meeting. In a busy week for central banks, the yen weakened for a second straight day as expectations faded for the…
By Abigail Summerville (Reuters) -An investor group consisting of Arkhouse Management and Brigade Capital has made a $5.8 billion offer to take department store chain Macy’s private, according to a person familiar with the matter on Sunday. Arkhouse Management, a real-estate focused investing firm, and Brigade Capital Management, a global asset manager, submitted a proposal…
By Sabrina Valle, Sourasis Bose and Arathy Somasekhar HOUSTON (Reuters) -Occidental Petroleum on Monday agreed to buy closely-held U.S. shale oil producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding its presence in the largest U.S. shale oilfield. The deal comes amid a new wave of shale consolidation underpinned by Exxon…
By David Shepardson WASHINGTON (Reuters) – Microsoft and the AFL-CIO union federation said Monday they had struck a deal whereby the U.S. software giant will remain neutral in efforts by unions to encourage workers to become members. The two sides will also work together on the future of artificial intelligence, in a first-of-its-kind partnership on…
