Breakfast in, shopping out: tourists to the U.S. hit by soaring dollar

Reuters | September 29, 2022

By Noel Randewich, John McCrank and Alun John SAN FRANCISCO/NEW YORK/LONDON (Reuters) – In the weeks before heading to San Francisco for their vacation this month, Jeff Skipper and his wife Valerie, from the United Kingdom, watched helplessly as the U.S. dollar continued its meteoric rise against the British pound. The sterling/dollar exchange rate – […]

U.S. new vehicle sales to increase on strong demand – report

Reuters | September 28, 2022

(Corrects grammatical error in paragraph 8) (Reuters) -U.S. new vehicle sales are set to rise in September as consumers spent more money on new vehicles than any previous September on record, an industry report from consultants J.D. Power-LMC Automotive showed on Wednesday. Customers have been unaffected by higher vehicle prices and lack of incentives or […]

Buffett-backed Nubank reaches 70 million clients

Reuters | September 26, 2022

SAO PAULO (Reuters) – Brazil’s Nubank has reached 70 million clients across its three operating countries, Latin America’s largest financial technology company said on Monday. The digital bank, backed by investors including Warren Buffett’s Berkshire Hathaway and Softbank Group Corp, said it had 66.4 million customers in Brazil, its main market, up from 62.3 million […]

FedEx needs to deliver on cost-cut plan as investor patience wanes -analysts say

Reuters | September 23, 2022

By Kannaki Deka and Lisa Baertlein (Reuters) -FedEx Corp’s new chief executive must show he can play catch up on costs without further eroding service, Wall Street analysts said on Friday, after the global delivery company laid out plans to slash up to $2.7 billion in expenses for fiscal 2023. FedEx’s plan announced on Thursday […]

Walmart plans cautious holiday hiring amid slowing U.S. economy

Reuters | September 21, 2022

By Siddharth Cavale NEW YORK (Reuters) -Walmart Inc sounded a cautious note about holiday retail sales on Wednesday, planning to hire fewer workers than last year as it prepares for the critical season in the middle of a slowing economy. The largest U.S. retailer announced plans to add 40,000 workers in seasonal and full-time roles […]

Nvidia unveils new gaming chip with AI features, taps TSMC for manufacturing

Reuters | September 20, 2022

By Stephen Nellis (Reuters) – Nvidia Corp on Tuesday announced new flagship chips for video gamers that use artificial intelligence (AI) to enhance graphics, saying it has tapped Taiwan Semiconductor Manufacturing Co to make the processors. Nvidia has gained attention in recent years with its booming data center business, which sells chips used in artificial […]

Amtrak to resume normal operations Friday after labor deal

Reuters | September 15, 2022

By David Shepardson WASHINGTON (Reuters) -U.S. passenger railroad Amtrak said it will resume normal operations Friday as it works to quickly restore canceled trains after a freight rail labor deal was announced, averting a rail shutdown. Amtrak had announced on Wednesday that it would temporarily cancel all of its long-distance trains starting on Thursday – […]

Amazon, Google slam Microsoft’s cloud computing changes

Reuters | August 30, 2022

By Foo Yun Chee BRUSSELS (Reuters) – Amazon and Alphabet unit Google criticised Microsoft’s cloud computing changes on Tuesday, saying they limit competition and discourage customers from switching to rival cloud service providers. The U.S. software giant on Monday announced amended licensing deals and other changes that will take effect on Oct. 1 and which […]

Analysis-BlackRock too green for Texas; rest of Wall Street okay – for now

Reuters | August 30, 2022

By Ross Kerber and Pete Schroeder (Reuters) – Most big Wall Street firms passed a test for business as usual in Texas last week when state Comptroller Glenn Hegar kept all but BlackRock Inc. off a list of companies whose stance on boycotting oil and gas stocks could trigger divestment by public agencies. But top […]

Morgan Stanley orders internal lawyer to supervise block trading desk- FT

Reuters | August 30, 2022

(Reuters) – Morgan Stanley has appointed an internal lawyer to shadow a unit of the bank subject to a federal probe into block trading, the Financial Times reported on Tuesday, citing people briefed on the arrangement. The bank has ordered the lawyer to sit on its U.S. equity syndicate desk to supervise bankers and answer […]