Category: Business
-
Global equity funds see big inflows amid stock rally
(Reuters) – Global equity funds racked up significant inflows in the week to Feb. 14 propelled by investor optimism amid a robust stock market rally, despite lingering uncertainties over the Federal Reserve’s rate cut plans. According to data from LSEG, investors acquired a net $9.12 billion worth of global equity funds during the week, marking…
-
Tokyo supermarket stocks more chicken for inflation-weary shoppers
By Tim Kelly and Chris Gallagher TOKYO (Reuters) – Hiromichi Akiba is stocking his Tokyo supermarket with more chicken because customers who used to buy beef are switching to cheaper meat as rising prices put a squeeze on their spending, his business and Japan’s economy. Japan unexpectedly fell into recession at the end of last…
-
Google to launch anti-misinformation campaign ahead of EU elections
(This Feb. 15 story has been corrected to change the launch date from ‘March’ to ‘spring’ in paragraph 5) By Martin Coulter LONDON (Reuters) – Google is preparing to launch an anti-misinformation campaign across five countries in the European Union (EU), the company told Reuters ahead of the bloc’s parliamentary elections and tougher new rules…
-
AI adoption increasing sales in telecoms sector, Nvidia report shows
By Olivier Sorgho (Reuters) – Using artificial intelligence has already increased sales for around two thirds of the telecoms professionals surveyed for technology giant Nvidia. Nearly a fifth said revenue growth from AI was above 10% in specific business areas. Only 10% of respondents in the survey of more than 400 professionals said their company…
-
Musk, Tesla shareholder to propose a stay of pay ruling during appeal
By Tom Hals and Jody Godoy (Reuters) – Elon Musk and the Tesla shareholder who won a verdict last month voiding the CEO’s $56-billion pay package will ask a judge to pause her ruling until an appeal is resolved, according to a Tuesday letter to the court from the shareholder’s attorney. Greg Varallo, the shareholder’s…
-
Barclays VP sues for $290,000, alleging discrimination
By Nell Mackenzie LONDON (Reuters) -A Barclays vice president is suing the British bank for about 230,000 pounds ($290,000), alleging she was passed over for promotion because of racial, religious and sex discrimination. Nazia Lawrence joined the bank in 2015 and works in execution services, a back office part of the bank that helps to…
-
PNC plans $1 billion investment to expand, renovate branch network
(Reuters) – PNC Bank said on Wednesday it is planning to invest roughly $1 billion to open more than 100 new branches and renovate over 1,200 existing locations through 2028. “Through this investment, PNC will build and open new branches in key locations … improving the convenience and reach of its coast-to-coast branch network,” the…
-
Robinhood posts surprise profit on interest income boost, trading rebound
By Manya Saini (Reuters) -Robinhood Markets posted a surprise profit in the fourth quarter on Tuesday, driven by higher interest income from customers paying back loans and a rebound in trading, sending shares of the online brokerage up 10% after the bell. A higher-for-longer interest rate environment has benefited lenders across the financial spectrum, including…
-
US factory boom disproportionately favors poorer counties, study shows
By Timothy Aeppel (Reuters) – A surge of factory building fueled by Biden administration investments in “strategic sectors” such as clean energy and semiconductors has so far flowed disproportionately to U.S. counties with relatively distressed economies and notably has not tracked “Democratic geography.” Since 2021, a group of counties with relatively low employment rates for…
-
Rising rents push US inflation higher; rate cuts still expected in 2024
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices rose more than expected in January amid a surge in the cost of rental housing, but the pick-up in inflation did not change expectations the Federal Reserve will start cutting interest rates in the first half of this year. The increase in prices reported by the…