By Andy Sullivan and Jacqueline Thomsen WASHINGTON (Reuters) – The divided U.S. Congress is running out of time to raise the federal government’s $31.4 trillion debt ceiling, with the Treasury Department warning it could be unable to pay its bills as soon as June 1. If Congress fails to act, some legal experts say Democratic…
By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) – HSBC tripled its profit in the first quarter as rising interest rates boosted its income, beating analyst forecasts and helping the bank pay its first quarterly dividend since 2019. The strong results reported by HSBC and Asian rival DBS on Tuesday underscore how aggressive policy…
(Reuters) – The New York Stock Exchange said on Tuesday it will delist shares of First Republic Bank, the lender that was seized by regulators before JPMorgan Chase & Co acquired most of its assets. Apart from the company’s common stock, seven different types of its preferred stock will also be delisted. Trading in all…
By Blake Brittain (Reuters) -A U.S. judge in California on Monday declared a mistrial in Masimo Corp’s smartwatch trade secret lawsuit against Apple Inc after jurors failed to reach a unanimous verdict in the potential billion-dollar case. A Masimo spokesperson said in a statement that the company was “disappointed that the jury was unable to…
By Andrea Shalal and Pete Schroeder WASHINGTON (Reuters) – JPMorgan Chase & Co’s deal to buy First Republic Bank pushed the Biden administration into a corner, leaving officials scrambling to explain how their stance against mergers squared with allowing the largest U.S. bank to get even bigger. At a White House event on small business…
By Nupur Anand, Anirban Sen, David French and Isla Binnie NEW YORK (Reuters) -On March 12, as several U.S. banks reeled from a crisis in confidence, JPMorgan Chase & Co put its might behind First Republic Bank, giving the troubled lender what two sources said was a $10 billion financing. The JPMorgan facility did not…
By Akriti Sharma (Reuters) -Tesla Inc has raised prices in a range of up to $290 in Canada, China, Japan and the United States, its website showed on Monday, after the company slashed prices of its top-selling vehicles since the start of the year. The hike was the first on its two top-selling models at…
By Joseph White LOUISVILLE, Kentucky (Reuters) – Shutting down the assembly lines that build Super Duty pickup trucks at Ford Motor Co’s Kentucky Truck Plant is a multimillion-dollar action company managers try hard to avoid. As part of a new approach to stamping out quality demons, Kentucky Truck Plant manager Joseph Closurdo said he stopped…
By Medha Singh (Reuters) -What’s the cost of students using ChatGPT for homework? For U.S. education services provider Chegg Inc, it could be nearly $1 billion in market valuation. Chegg signaled the rising popularity of viral chatbot ChatGPT was pressuring its subscriber growth and prompted it to suspend its full-year outlook, sending shares of the…
By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan inflation rose to a record 36.4% in the year to April driven mainly by food prices, the highest rate in South Asia and up from March’s 35.4%, the statistics bureau said on Tuesday. Pakistan’s rural areas recorded food inflation of 40.2%, the bureau told Reuters. Food inflation for…
