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Italy court allows class action against Meta over Facebook data scraping

MILAN, April 14 (Reuters) - A Milan court on Tuesday accepted a class action brought by a consumer group against Meta Platforms over the theft of personal data suffered by Facebook Italy. According to the court order, the data scraping incident, which took place between January 2018 and September 2019 and was disclosed by Meta in 2021, affected around 533 million Facebook users globally. The

2026-04-14T16:13:12Z

Banks press for more capital relief, make plans to use excess capital

By Tatiana Bautzer NEW YORK, April 14 (Reuters) - As the largest banks expect to release billions in capital with regulatory reform, many are already making plans about how to spend them. In a letter to shareholders, J.P. Morgan CEO Jamie Dimon estimated the bank has around $40 billion in excess capital, considering the latest proposals to implement the Basel III endgame. But Dimon also

2026-04-14T13:23:09Z

Maine legislature approves first US moratorium on big data centers

(Refiles to add media packaging code, with no changes to text) WASHINGTON, April 14 (Reuters) - Maine lawmakers have passed a bill that could make it the first U.S. state to put a moratorium on new data centers as opposition to the electricity-hungry facilities grows across the country over their impact on household energy bills and the environment. The bill, which still needs final approval

2026-04-14T23:08:05Z

US solar cell maker Suniva investing $350 million in South Carolina expansion

April 14 (Reuters) - U.S. solar manufacturer Suniva said on Tuesday it will invest $350 million in a South Carolina cell factory, with production starting in early 2027. The facility will represent a substantial expansion of the United States' capacity to produce solar cells, the building blocks of solar panels that convert sunlight into electricity. It is expected to open in the second quarter

2026-04-14T19:18:09Z

Jane Street signs $6 billion AI cloud deal with CoreWeave, boosts stake

April 15 (Reuters) - Trading firm Jane Street has committed about $6 billion for CoreWeave's cloud services, marking the third major deal for the Nvidia-backed cloud company in a week and underscoring surging demand for computing capacity. Jane Street also made a $1 billion equity investment in CoreWeave at a purchase price of $109 per share, the companies said on Wednesday. That represents a

2026-04-15T14:48:09Z

Hong Kong to announce tax break to lure global commodity traders

Hong Kong is rolling out a new tax break for commodity traders as it seeks to strengthen its position as a regional trading hub and revive shipping activity amid global supply disruptions.

2026-04-16T08:14:18Z

Jet fuel shock from Iran war worsens crisis for global airlines

By Roushni Nair, Sneha Kumar and Kate Abnett BENGALURU/BRUSSELS/LONDON, April 14 (Reuters) - Air travel's worst crisis in years lurched deeper on Tuesday as Qantas Airways warned of spiralling costs, Lufthansa said it may have to ground planes and Virgin Atlantic flagged a looming supply crunch, with the Iran conflict squeezing fuel supplies. The war has upended routes between Asia and Europe

2026-04-14T12:28:10Z

US producer prices increase less than expected in March

WASHINGTON, April 14 (Reuters) - U.S. producer prices increased less than expected in March as the cost of services was unchanged, but surging energy prices because of the war with Iran were fanning inflation pressures. The Producer Price Index for final demand rose 0.5% last month after a downwardly revised 0.5% gain in February, the Labor Department's Bureau of Labor Statistics said on Tuesday

2026-04-14T13:23:13Z

CNBC daily open: Wall Street buys Trump's assurances on Iran war ending soon

Booming indexes don't erase the impact of the war, with the World Bank warning that conflict-related disruptions could last for months.

2026-04-16T01:14:17Z

Nuclear reactor developer X‑Energy targets $7.5 billion valuation in US IPO

April 15 (Reuters) - Amazon-backed X-Energy said on Wednesday it was targeting a valuation of up to $7.51 billion in its initial public offering in the United States. The Maryland-based nuclear reactor developer is seeking up to $814.3 million by offering roughly 42.9 million shares priced between $16 and $19 apiece. Nuclear energy is experiencing a resurgence, driven by surging electricity

2026-04-15T21:18:10Z

CarMax posts quarterly loss on goodwill charge, weak used-car demand

April 14 (Reuters) - Used car retailer CarMax reported a fourth-quarter loss on Tuesday, hurt by a goodwill impairment charge and shrinking margins from used vehicles. Shares of the Richmond, Virginia-based company fell 6.8% in premarket trading. The used-car sector has struggled to move inventory at profitable prices, with softening consumer demand and import tariffs squeezing margins across

2026-04-14T12:28:03Z

Nestle, Mondelez say were not targeted by EU Commission anti-trust raids

BRUSSELS, April 14 (Reuters) - Food giants Nestle and Mondelez said in separate statements on Tuesday they were not the target of European Commission antitrust raids carried out on Monday as part of a probe into a possible breach of antitrust rules in the chocolate confectionery market. The Commission had said on Monday it carried out raids in two countries in premises of a company suspected of

2026-04-14T16:13:06Z

IMF cautions countries against broad fuel subsidies to deal with war-driven energy shock

By Andrea Shalal WASHINGTON, April 15 (Reuters) - The war in the Middle East has intensified strains on an already fragile global fiscal situation, with higher interest rates and rising energy prices already fueling calls for support from emerging markets and developing economies, the International Monetary Fund said on Wednesday in its Fiscal Monitor report. Rodrigo Valdes, the IMF's new fiscal

2026-04-15T14:48:13Z

BNY's profit rises on strong fees, interest income growth

April 16 (Reuters) - BNY reported a rise in first-quarter profit on Thursday, as the world's largest custodian bank was helped by strong fee income and higher values of client assets. Global markets have swung sharply due to the Iran war and a broad selloff in AI-threatened software stocks, prompting investors and investment managers to rebalance portfolios, and boosting client activity. BNY,

2026-04-16T10:43:05Z

Hermes, Kering shares sink as Iran war knocks luxury revival

By Helen Reid April 15 (Reuters) - French group Hermes led a slump in luxury shares on Wednesday after weak sales showed the war in Iran was weighing on demand in the Middle East and tourism in Europe, dealing a blow to hopes of a revival for the sector. Shares in the Birkin bag maker sank as much as 14% in early trade, with sales in the Middle East falling and fewer tourists buying designer

2026-04-15T13:38:14Z

Factbox-from airlines to banks: Australian, New Zealand firms feel heat of Gulf crisis

April 16 (Reuters) - Companies in Australia and New Zealand are beginning to signal the financial strain from the U.S.-Israeli war on Iran, as higher fuel prices stoke inflation, dent business and consumer confidence, and weigh on corporate earnings. Two of Australia's top companies, Westpac Banking Corp and Qantas Airways, warned on Tuesday that their earnings could be impacted by soaring fuel

2026-04-15T21:18:15Z

EQT restarts sale of contact lens maker Ginko in at least $1 billion deal, sources say

By Kane Wu HONG KONG, April 16 (Reuters) - Private equity firm EQT is restarting the sale process for the mainland Chinese business of contact lens maker Ginko International, targeting a valuation of at least $1 billion, three people with knowledge of the matter said. EQT agreed to sell the business last year to U.S.-based buyout firm Advent International, but the buyer eventually decided to pay

2026-04-16T07:23:06Z

Trump threatens to fire Powell if he doesn't leave Fed board; probe to continue

By Howard Schneider WASHINGTON, April 15 (Reuters) - President Donald Trump on Wednesday threatened to fire Federal Reserve Chair Jerome Powell from his separate seat as a member of the U.S. central bank's Board of Governors if Powell does not vacate that post as well when his term as Fed chief ends on May 15, intensifying a complicated standoff that has upended the Fed's usually smooth

2026-04-15T13:38:10Z

Global economy at risk of recession if Iran war persists, warns IMF

High oil, gas and food prices could force growth to slow if the US-Israel conflict with Iran continues, the IMF says.

2026-04-14T13:08:38Z

Iran war promises green edge for Asia as plastic packaging runs short

By Minwoo Park, Kaori Kaneko and John Geddie SEOUL/TOKYO, April 15 (Reuters) - An 'eco-friendly' range of paper tubes and pouches touted by Yonwoo, a South Korean maker of packaging for cosmetics, has reaped unexpected benefit from the Iran war, which has disrupted supplies of the plastic needed to turn out single-use wrapping. While the conflict has sent prices of plastic soaring to roughly

2026-04-15T02:08:16Z

US probes suspicious oil trades made before Trump Iran pivots, source says

By Anirban Sen, Mihika Sharma and Anusha Shah April 15 (Reuters) - The U.S. Commodity Futures Trading Commission is investigating a series of oil futures trades that were placed shortly before major policy shifts by U.S. President Donald Trump related to the war in Iran, a person familiar with the matter said on Wednesday . The CFTC probe is focused on trading of oil futures contracts on

2026-04-15T19:08:06Z

Inside India newsletter: Small towns are powering e-commerce's fastest-growing market, dominated by Amazon, Walmart unit

Small towns are fueling India’s e‑commerce surge, with Amazon and Flipkart chasing new shoppers, faster delivery and rising aspirational demand.

2026-04-16T00:04:01Z

Nestle chairman targets volume growth

ZURICH, April 15 (Reuters) - Swiss food giant Nestle must grow its sales volumes again, Chairman Pablo Isla was quoted as saying in an interview on Wednesday, referring to an adjusted product portfolio and a stronger performance culture. "The key is to consistently deliver volume growth - quarter after quarter, year after year. Then the share price will follow," Isla told Swiss paper Neue Zurcher

2026-04-15T06:08:08Z

US solar and wind contract prices rose sharply in first quarter

April 14 (Reuters) - U.S. solar and wind contract prices rose sharply in the first quarter as project developers faced tariffs, labor shortages and permitting challenges amid soaring demand for power from data centers, according to a report published on Tuesday. * Prices for solar power purchase agreements, contractsknown as PPAs, were up 13% from the first quarter of last year,and wind PPAs were

2026-04-14T13:23:12Z

No signs of major default cycle in private credit, Ares CEO says

By Selena Li HONG KONG, April 15 (Reuters) - Private credit defaults are relatively contained, with most of the stress in the sector being liquidity- and rate-driven, the head of Ares Management Corp said on Wednesday. "There's nothing that we're seeing in our portfolios or in the market broadly that would say that we're about to have a major default cycle," Michael Arougheti, chief executive

2026-04-15T07:08:15Z

Analysis - Pizza chains Papa John's and Pizza Hut edge closer to finding new owners, sources say

By Svea Herbst-Bayliss and Abigail Summerville NEW YORK, April 15 (Reuters) - Two of America's most popular national pizza chains are edging closer to selling to new owners as stiff competition, rising commodity costs and waning consumer demand are undercutting performance, according to five people familiar with the discussions. Papa John's International and Pizza Hut, owned by Yum Brands, are

2026-04-15T14:48:13Z

Pernod CFO says talks with Brown-Forman are ongoing

PARIS, April 16 (Reuters) - Pernod Ricard's talks to merge with U.S. rival Brown-Forman are continuing, Pernod Ricard's finance chief said on Thursday. Helene de Tissot told a conference call with analysts that talks are "ongoing", adding the company does not intend to communicate further. U.S. spirits group Sazerac has also offered to buy Brown-Forman for about $15 billion, a source familiar

2026-04-16T07:23:18Z

US Treasury asks private credit firms for data, Punchbowl News reports

April 15 (Reuters) - The U.S. Treasury Department has begun asking private credit firms to submit information about their business models and ties to the regulated financial system, Punchbowl News reported on Wednesday citing sources familiar with the matter. The Treasury is asking these firms about their recent performance and relationships with banks, insurance, and reinsurance companies, the

2026-04-15T12:28:07Z

Brazilian steelmaker CSN pushes ahead with cement unit sale

By Luciana Magalhaes SAO PAULO, April 14 (Reuters) - Brazilian steelmaker CSN is pushing ahead with the sale of its cement unit, which could fetch over 10 billion reais ($2 billion), according to two people familiar with the matter. The talks involve local and international players, including Brazil's Votorantim and J&F S.A., which also controls meatpacker JBS, as well as Chinese companies Anhui

2026-04-15T00:08:08Z

United-American mega deal could raise fares and face antitrust roadblock

By Shivansh Tiwary and Jody Godoy April 14 (Reuters) - A potential deal between United Airlines and American Airlines would create an industry behemoth and invite extraordinary scrutiny from regulators, labor unions and consumer advocates, all wary of higher fares and reduced competition. United Airlines CEO Scott Kirby pitched a potential merger of the two carriers to U.S. President Donald

2026-04-14T15:13:11Z

American Eagle rallies again after launching second Sydney Sweeney campaign

April 15 (Reuters) - American Eagle Outfitters shares jumped on Wednesday after the denim retailer unveiled a second campaign with "Euphoria" star Sydney Sweeney, a year after a viral and controversial ad featuring the actress fueled a stock rally. * Shares of the company rose 5% in premarket trading afterthe announcement. * American Eagle is partnering with Sweeney for its summerseason denim

2026-04-15T13:38:12Z

Boeing jet deliveries slow in March due to 737 MAX wiring issue

By Dan Catchpole SEATTLE, April 14 (Reuters) - Boeing said on Tuesday it delivered 46 jets in March, down from 51 the prior month, as the company repaired damaged wiring in about 25 of its best-selling 737 MAX planes. Boeing did not specify on Tuesday how many deliveries were delayed by the rework. In March, Boeing Chief Financial Officer Jay Malave said it was expected to push 10 737 deliveries

2026-04-14T16:13:10Z

Private credit is not a systemic risk, PIMCO's Ivascyn says

By Yoruk Bahceli LONDON, April 15 (Reuters) - The private credit market does not pose a systemic risk to the wider financial system, bond giant PIMCO's group chief investment officer Daniel Ivascyn said on Wednesday. The $3.5 trillion ​private credit sector ​has been in the spotlight after risks linked to artificial intelligence, fund ​outflows and fears of credit stress have hammered

2026-04-15T10:18:15Z

BlackRock quarterly profit rises on active ETFs and performance fees

By Pritam Biswas and Colin Barr April 14 (Reuters) - BlackRock reported a rise in first-quarter profit on Tuesday, reflecting strong flows into its exchange-traded funds and a sharp increase in performance fees, and its shares rose more than 4%. Total net inflows were $130 billion, mostly into the asset manager's iShares ETFs. Its private markets business drew inflows of $9 billion in the

2026-04-14T16:13:08Z

Walmart redesigns its 'Great Value' private label brand

April 15 (Reuters) - Walmart said on Wednesday it is redesigning its private-label brand "Great Value" as price-conscious shoppers increasingly opt for cheaper store-brand products. * The redesign of the brand, which was launched in 1993,will span almost 10,000 food and consumables items, markingWalmart's first brand refresh in more than a decade, the retailgiant said. * The rollout will be

2026-04-15T16:58:04Z

Analysis - PepsiCo faces pressure to show Elliott-triggered turnaround is working

By Alexander Marrow and Juveria Tabassum LONDON, April 14 (Reuters) - Seven months after activist investor Elliott disclosed a $4 billion stake in PepsiCo, the U.S. beverages giant is under pressure to show a turnaround drive including price cuts and brand relaunches can deliver the volume growth investors crave. PepsiCo has reported declining annual volumes since 2021 and its shares have lagged

2026-04-14T12:28:11Z

Gucci sales extend falls as Iran war clouds de Meo turnaround

PARIS, April 14 (Reuters) - Sales at Kering's Italian flagship brand Gucci dropped by 8% in the first quarter from the previous year, the 33 billion euro ($39 billion) fashion group said on Tuesday in what it called a "first step" in its recovery. Gucci's 1.35 billion euro ($1.59 billion) sales from January to March were slightly below analyst forecasts, with the drop marking the 11th straight

2026-04-14T16:13:13Z

CNBC daily open: S&P 500 nears all-time high

Markets are rising on Iran-U.S. talks, but there remains massive disagreements over the Strait of Hormuz.

2026-04-15T01:23:59Z

Dow names insider Karen Carter CEO as Fitterling moves to executive chair role

April 14 (Reuters) - Chemicals maker Dow named operations chief Karen Carter as its new CEO on Tuesday, handing the reins to a long-time insider as the company grapples with weak demand, restructuring and a sweeping overhaul of its global footprint. Carter will take over as CEO on July 1, replacing Jim Fitterling, who will move into the role of executive chair. Fitterling has helmed Dow since

2026-04-14T14:18:10Z

Disney to eliminate 1,000 jobs

By Dawn Chmielewski LOS ANGELES, April 14 (Reuters) - Walt Disney 's new chief executive, Josh D'Amaro, announced layoffs in an email to employees on Tuesday, as he looks to streamline the company's operations. About 1,000 positions will be eliminated, according to a person familiar with the development. The cuts will fall on the marketing group, which was reorganized in January, and other

2026-04-14T16:18:11Z

Former US Treasury Secretary Yellen says Iran war to bring more inflationary pressure

HONG KONG, April 15 (Reuters) - Former U.S. Treasury Secretary Janet Yellen said on Wednesday that the Iran war is creating supply shocks in the global economy which could put more pressure on inflation. Yellen, speaking to the HSBC Global Investment Summit in Hong Kong, said the Middle East conflict had intensified ongoing economic uncertainty. "It puts upward pressure on inflation and we've

2026-04-15T02:08:05Z

Amazon signs $11.57 billion deal for satellite firm Globalstar to challenge Musk's Starlink

April 14 (Reuters) - Amazon.com said on Tuesday it would acquire Globalstar in an $11.57 billion deal, bolstering its fledgling satellite business as it looks to take on Elon Musk-led bigger rival Starlink. Shares of satellite company Globalstar were up more than 9% in premarket trading, after gaining over 6% in the past two weeks following media reports of the companies' discussions. The stock

2026-04-14T12:28:11Z

CNBC daily open: Trump goes from opening the Strait of Hormuz to blockading it

The failed peace talks left investors on edge with little visibility on how the blockade will be implemented, and how long and deep an oil shock needs to be priced in.

2026-04-13T01:34:19Z

Wall Street opens higher with earnings in focus

April 15 (Reuters) - Wall Street's main indexes opened higher on Wednesday as investors assessed the latest developments in the Middle East and a raft of corporate earnings, while awaiting remarks from Federal Reserve officials. The Dow Jones Industrial Average rose 13.2 points, or 0.03%, at the open. The S&P 500 rose 10.8 points, or 0.15%, while the Nasdaq Composite rose 49.0 points, or 0.21%.

2026-04-15T13:38:08Z

Elliott takes stake in Japan's Daikin, calls for higher returns

By Sam Nussey TOKYO, April 16 (Reuters) - Elliott Investment Management said on Thursday it has taken a stake in Daikin and thinks the manufacturer of air conditioners should improve margins and shareholder returns and review non-core assets. Elliott did not provide further details on the stake. A person familiar with the matter said Elliott's stake is around 3% and that it believes Daikin

2026-04-16T01:43:08Z

Citadel's Ken Griffin says Iran war threatens global recession

WASHINGTON, April 14 (Reuters) - Billionaire investor Ken Griffin warned on Tuesday that the world could face a global recession if the Strait of Hormuz remains closed for a prolonged period. "This really is a very, very treacherous moment for the world economy," the Citadel CEO said at the Semafor World Economy Forum. "From a macroeconomic perspective around the world...the key criteria is the

2026-04-14T16:23:11Z

UBS vows to fight for business model as Swiss capital debate heats up

By Ariane Luthi BASEL, Switzerland, April 15 (Reuters) - UBS Chairman Colm Kelleher warned on Wednesday that proposed Swiss capital requirements threatened its business model and would do little to improve financial stability, while raising questions over the bank's future in Switzerland. The government is seeking to introduce new banking rules in the wake of the 2023 collapse of Credit Suisse,

2026-04-15T13:38:14Z

US issues license allowing transactions with some Venezuelan banks

WASHINGTON, April 14 (Reuters) - The Trump administration issued two new Venezuela-related general licenses on Tuesday, including one that allows financial transactions involving certain Venezuelan banks and Venezuelan government individuals, according to documents posted to the U.S. Treasury Department's website. The documents published by the Treasury Department said financial transactions will

2026-04-14T21:08:05Z

China's largest trade fair opens as export growth slows

HONG KONG, April 15 (Reuters) - China's largest trade fair, held twice a year, opened on Wednesday in the southern city of Guangzhou, where more than 32,000 exhibitors are showcasing products over an area larger than 200 football fields. * Held from April 15 to May 5 in three phases, the fairprovides a barometer of trade in China. * It is being held after data showed China's export engineslowed

2026-04-15T06:08:06Z

L3Harris announces $1.27 billion expansion project at Virginia site

April 15 (Reuters) - L3Harris Technologies and Virginia Governor Abigail Spanberger said on Wednesday the defense supplier will invest $1.27 billion to further the solid rocket motor production capacity at its Orange County site. The announcement comes months after the U.S. government's commitment to invest $1 billion in L3Harris' rocket motor business to ensure a steady supply of much-needed

2026-04-15T16:58:03Z