By David Lawder and Ann Saphir WASHINGTON (Reuters) – The U.S. central bank might have begun cutting interest rates in late July had it known that the labor market was cooling as fast as it has been, Federal Reserve Chair Jerome Powell said on Wednesday. “If you ask, you know, if we’d gotten the July…
The company is behind several crypto-focused ETFs.
By Jonathan Stempel NEW YORK (Reuters) – New York Attorney General Letitia James said on Friday her office has recovered $50 million from the cryptocurrency platform Gemini Trust to repay investors defrauded in its Gemini Earn program. James said Gemini, run by billionaire twin brothers Cameron and Tyler Winklevoss, will provide full recoveries to more…
(Reuters) – Online travel agency Expedia beat analysts’ expectations on Thursday for second-quarter profit, helped by sustained demand for international travel, sending its shares up 7% after the bell. “The travel environment was healthy in the second quarter and like the last few quarters, we saw strong ongoing demand internationally relative to the US,” CEO…
By Bernard Orr and Yimou Lee BEIJING/TAIPEI (Reuters) – China staged mock missile strikes and dispatched fighter jets carrying live missiles and bombers on Friday, state television CCTV said, as part of two-day exercises Beijing has said were launched to punish Taiwan’s new president, Lai Ching-te. The bombers set up several attack formations in waters…
By Allison Lampert, Rajesh Kumar Singh and Svea Herbst-Bayliss CHICAGO (Reuters) – Activist investor Elliott Investment Management told one of Southwest Airlines’ top unions it still wants to replace CEO Robert Jordan, according to a union memo seen by Reuters, even after the carrier pledged to shake up its board. Elliott, which owns 10% of…
By Isabelle Yr Carlsson and Maggie Fick COPENHAGEN/LONDON (Reuters) – Obesity drug-maker Novo Nordisk will spend $4.1 billion to build a U.S. facility to fill injection pens for its hugely popular weight-loss treatment Wegovy and diabetes drug Ozempic, it said on Monday. Construction of the plant at Novo’s existing main U.S. manufacturing site in Clayton,…
(Reuters) -Credit card giant American Express raised its full-year profit forecast on Friday, as its wealthy customers persisted in splurging on travel, dining and entertainment. The company also reported better-than-expected second-quarter profit, underscoring the benefit it has enjoyed by focusing on a premium customer base. AmEx’s affluent cardholders have somewhat insulated it from weakness in…
STOCKHOLM (Reuters) – Cisco on Tuesday launched a $1 billion fund to invest in artificial intelligence startups, joining a list of big technology companies rushing to take stakes in small AI firms. The company, through its investment arm, is investing in Cohere, Mistral AI and Scale AI, among others, and has already committed nearly $200…
The firm’s stock rose Thursday, and has traded solidly above $1 during October.
