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Tesla blocks stockholders with less than 3% shares from suing officers on its behalf

(Reuters) -Tesla blocked shareholders who own less than 3% of its shares from suing its directors or officers on behalf of the electric vehicle maker for breach of duties, according to a filing with the U.S. Securities and Exchange Commission on Friday. Three percent of Tesla's shares amounts to about 97 million shares worth about $34 billion as of Friday's close. That is far higher than the

2025-05-17T00:50:08Z

Wall St opens lower as trade truce rally fades, UnitedHealth falls

(Reuters) - Wall Street's main indexes opened lower on Thursday as euphoria from the U.S.-China tariff truce waned, while UnitedHealth's stock was pressured following a report that the DoJ was investigating the health insurer for fraud. The Dow Jones Industrial Average fell 273.1 points, or 0.65%, at the open to 41777.98. The S&P 500 fell 22.8 points, or 0.39%, at the open to 5869.82​, while the

2025-05-15T13:48:24Z

US set to cut capital requirements for banks, FT reports

(Reuters) -U.S. authorities are preparing to announce one of the biggest cuts in banks' capital requirements in over a decade, the Financial Times reported on Thursday. Regulators were poised to reduce the supplementary leverage ratio (SLR) in the next few months, the newspaper reported, citing several people familiar with the matter. The supplementary leverage ratio is a rule that requires big

2025-05-15T12:38:21Z

Stellantis chairman denies merger talks with Renault

ROME (Reuters) - Stellantis Chairman John Elkann on Thursday denied there was any truth to rumours that the company is in merger talks with fellow European automaker Renault. "We are not discussing any merger," Elkann said at the FT Future of the Car Summit in London, speaking in a panel discussion with Renault CEO Luca de Meo. The two companies in October already dismissed as rumour and

2025-05-15T14:58:33Z

The wealthy can't find enough people to manage their money. Here's why

The talent crunch is not just owed to a lack of qualified candidates — it's also selectivity on the part of family offices.

2025-05-14T04:26:43Z

He lives in Thailand but 'supercommutes' to Singapore—living off what he makes from 3 hours a week

It took a layoff to make Shao Chun Chen realize he was financially independent in early 2024, giving him the flexibility to change his life.

2025-05-15T03:43:07Z

Wall Street down after weak US data, as oil prices regain some ground

By Chris Prentice and Stella Qiu NEW YORK/SYDNEY (Reuters) -Wall Street was lower on Friday though global equities were still poised for weekly gains, as upbeat earnings helped sustain the rally sparked by a U.S.-China trade truce. Oil prices remain relatively low, further supporting stocks and bonds. U.S. consumer sentiment slumped further in May as one-year inflation expectations surged as

2025-05-16T15:24:52Z

One in 10 have no savings, financial regulator says

Stress and anxiety among those with debts remains high but help is available, a major survey finds.

2025-05-15T23:20:55Z

Thoma Bravo sells remaining Nasdaq stake, Bloomberg News reports

(Reuters) -Private equity firm Thoma Bravo has sold its remaining stake in Nasdaq for proceeds of about $3.4 billion, Bloomberg News reported on Thursday. Thoma Bravo divested around 43 million shares, or about 7.4% of Nasdaq, in unregistered block trades on May 7 and May 13, the report said, citing people familiar with the matter. Nasdaq and Thoma Bravo did not immediately respond to Reuters'

2025-05-15T17:08:40Z

NY Fed's Empire State manufacturing index loses ground in May

By Michael S. Derby NEW YORK (Reuters) -Business activity continued to soften in the Federal Reserve Bank of New York's district during May, according to its latest Empire State Manufacturing Survey, released Thursday. The general business conditions index stood at -9.2 in May from April's -8.1, the third straight month of declining activity, the report said. The firms remained "pessimistic"

2025-05-15T12:38:33Z

New Fortress Energy posts quarterly loss as all segments show weak performance

(Reuters) - U.S. LNG firm New Fortress Energy posted a loss in the first quarter on Wednesday, hurt by weak performance across both its segments of ships, and terminals and infrastructure, sending the shares down nearly 19% in extended trading. At NFE's terminals and infrastructure unit, operating margin declined 78.7% to $74.6 million during the quarter. Operating margin at the ships segment

2025-05-14T20:27:32Z

Global equities gain, gold prices set for big weekly loss

By Chris Prentice and Stella Qiu NEW YORK/SYDNEY (Reuters) -Wall Street gained on Friday, as European shares climbed to a fifth straight weekly gain on upbeat earnings that helped sustain the rally sparked by a U.S.-China trade truce. Gold prices were set for their biggest weekly loss since November. Oil futures notched a weekly gain but remain relatively low, further supporting stocks and

2025-05-16T21:20:09Z

Inditex appoints new chief financial officer

LONDON (Reuters) -Inditex on Friday announced a new chief financial officer and chief sustainability officer in a top management reshuffle, without detailing any reason for the changes. Current Chief Financial Officer Ignacio Fernandez Fernandez will take on a new role as Chief Corporate Officer overseeing the financial, sustainability, logistics, transport and infrastructure divisions, Inditex

2025-05-16T14:19:46Z

Euro zone growth downgraded but employment holding up

FRANKFURT (Reuters) -The euro zone economy grew slower in the first quarter than initially estimated but employment held up well, indicating that the bloc keeps creating jobs despite years of anaemic expansion, data from Eurostat showed on Thursday. Gross domestic product in the first three months grew by 0.3%, below an initial estimate for 0.4%, but that was still an improvement on previous

2025-05-15T09:08:16Z

Ant Group quarterly profit down 31.4% year-on-year to 5.4 billion yuan

SHANGHAI (Reuters) -China's Ant Group posted net profit of 5.4 billion yuan ($749 million) for the three months to December 31, down 31.4% from a year earlier, Reuters calculations based on Alibaba Group Holdings' earnings released on Thursday showed. The e-commerce giant reports profit from Ant one quarter in arrears. Chinese media earlier this month reported that the fintech group plans to

2025-05-15T10:18:28Z

Moody's pushes U.S. out of elite 'AAA' club citing rising debt

(Reuters) -Moody's on Friday downgraded its credit rating of the United States by a notch to "Aa1" from "Aaa", citing rising debt and interest "that are significantly higher than similarly rated sovereigns". "Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs," Moody's said. Moody's was the

2025-05-16T21:20:00Z

Thoma Bravo divests all its stake in exchange operator Nasdaq, source says

By Jaiveer Shekhawat and Pritam Biswas (Reuters) -Private equity firm Thoma Bravo has sold its remaining stake in Nasdaq for approximately $3.4 billion in two separate transactions, a source familiar with the matter told Reuters on Thursday. A block of approximately 25.5 million shares was divested on Tuesday, sold to JPMorgan for $80.68 each, according to the source. Earlier, the PE firm had

2025-05-15T18:13:38Z

UK business group calls for 'reset' with EU

The lobby group calls for travel restrictions to be eased and less red tape between the UK and EU.

2025-05-15T21:05:32Z

Brazil food companies Marfrig and BRF to merge, says source

SAO PAULO (Reuters) - Brazilian food companies Marfrig and BRF are expected to announce a merger involving a share swap this evening, a source briefed on the matter told Reuters on condition of anonymity because the deal has not been made public yet. The companies are eyeing annual synergies over 800 million real ($140.80 million) from their tie-up. The name of the new company created by Marfrig

2025-05-15T22:28:43Z

Capital One to pay $425 million to settle litigation over savings accounts

By Jonathan Stempel (Reuters) -Capital One agreed to pay $425 million to settle nationwide litigation accusing it of cheating savings account depositors out of much higher interest rates by not telling them they could move their money to higher-yielding accounts. A notice describing the preliminary settlement was filed on Friday evening in the Alexandria, Virginia federal court. The accord

2025-05-17T00:00:02Z

DoJ conducts probe into Live Nation and AEG cancellations, Bloomberg News reports

(Corrects attribution to Bloomberg News, not WSJ, in headline, paragraph 1) (Reuters) -The U.S. Justice Department is conducting a criminal antitrust probe on AEG and Live Nation's response to concert cancellations at the beginning of the pandemic in 2020, Bloomberg News reported on Thursday, citing people with knowledge of the matter. (Reporting by Aishwarya Jain in Bengaluru; Editing by Arun

2025-05-15T21:28:43Z

UK economy grew 0.7% in first three months of year

The UK's economy grew by 0.7% in the first three months of the year, according to the latest official figures.

2025-05-15T06:05:34Z

French finance minister criticises Sanofi's $20 billion USA investment decision

PARIS (Reuters) -France's finance minister criticised on Thursday a decision by French drugmaker Sanofi to invest at least $20 billion in the United States through to 2030, as France aims to get more companies investing in the country rather than abroad. "It's clear it was not something that was nice to see and it was an unpleasant announcement," finance minister Eric Lombard told BFM Business TV

2025-05-15T17:08:48Z

US FAA plans new round of talks with airlines to cut flights

(Reuters) - The Federal Aviation Administration plans a third day of talks on Friday with airlines to temporarily reduce flights at New Jersey's Newark Liberty International Airport after completing an intensive day of discussions seeking to reduce delays, officials said on Thursday. The FAA held four rounds of individual meetings with air carriers to win concessions to cut flights at specific

2025-05-15T21:28:43Z

The world's best airport is building a mega terminal to ride the travel boom in Asia

Changi's Terminal 5 is just the latest instance of countries around Asia splurging on their airports so as to capture the fast growing travel market in Asia.

2025-05-15T04:07:44Z

Stellantis to return Maserati production to its Modena hometown

MILANO (Reuters) - Automaker Stellantis said on Thursday that the production of Maserati sports cars will be moved from Turin's Mirafiori plant to Modena by the end of the year. Modena is the hometown of Maserati, a historic Italian brand that has been struggling and whose business plan, including new model launches, is under review after being put on hold last year. Mirafiori is gearing up for

2025-05-15T09:08:24Z

Trump tells Walmart to 'eat the tariffs' instead of raising prices

By Jasper Ward WASHINGTON (Reuters) -U.S. President Donald Trump said on Saturday that Walmart should "eat the tariffs" instead of blaming duties imposed by his administration on imported goods for the retailer's increased prices. His comments were in response to the world's largest retailer saying this week it would have to start raising prices later this month due to high tariffs. "

2025-05-17T16:16:03Z

Harley Davidson scores victory in board battle aimed at removing CEO

By Svea Herbst-Bayliss NEW YORK (Reuters) -Harley-Davidson on Wednesday beat back investor H Partners' proposal to remove three directors, including the CEO, the company said in a statement. The victory for Harley comes roughly one month after H Partners, the second-largest investor in the motorcycle maker with a stake of 9.1%, stepped up its campaign to immediately push out Jochen Zeitz, who

2025-05-14T22:37:42Z

Coinbase expects up to $400 million hit from cyber attack

(Reuters) -Crypto exchange Coinbase said on Thursday it expects to incur between $180 million and $400 million in costs related to a cyber attack. The company said account data including names, addresses and emails were stolen for a "small subset" of its customers, but the attackers did not get access to login credentials or passwords. "We will reimburse customers who were tricked into sending

2025-05-15T11:28:22Z

APEC highlights 'fundamental challenges' in global trade as tariffs overshadow meeting

By Jihoon Lee SEOGWIPO, South Korea (Reuters) -The Asia-Pacific Economic Cooperation group adopted a statement on Friday that cited "fundamental challenges" facing the global trading system, but stopped short of discussing a joint response to U.S. tariffs looming large over its meeting. The annual gathering is the first major multilateral trade gathering since U.S. President Donald Trump's

2025-05-16T10:59:32Z

Nvidia seeks Shanghai R&D site after US chip curbs, say sources

By Julie Zhu and Clare Jim HONG KONG (Reuters) - Nvidia is seeking a site in Shanghai for a research and development centre, three sources close to the matter said, reflecting the strategic significance of the Chinese market where U.S. curbs on advanced chip exports have hit sales. The U.S. chipmaker began the search in early 2025 and is primarily evaluating locations in Shanghai's Minhang and

2025-05-16T15:24:56Z

Bayer seeks Roundup settlement, explores Monsanto bankruptcy, WSJ reports

(Reuters) -Bayer is seeking to resolve lawsuits related to its Roundup weedkiller, while exploring a bankruptcy for its Monsanto unit if the settlement plan fails, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Reuters could not immediately confirm the report. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Arun Koyyur)

2025-05-15T23:28:42Z

Japan to seek third round of US trade talks next week, sources say

By Yoshifumi Takemoto and Leika Kihara TOKYO (Reuters) -Japan's top trade negotiator, Ryosei Akazawa, could travel to Washington as soon as next week for a third round of trade talks with the U.S., two sources with knowledge of the plans told Reuters on Thursday. The date of his visit was fluid and would depend on how much progress the two countries can make in narrowing differences in

2025-05-15T16:03:33Z

US drops suit against Southwest Airlines over chronically delayed flights

WASHINGTON (Reuters) -The U.S. Department of Justice dropped a lawsuit late on Friday against Southwest Airlines, filed by the Biden administration in its final days, that accused the carrier of illegally operating chronically delayed flights. The Department of Transportation filed suit in January, saying Southwest operated unrealistic schedules and seeking maximum civil penalties. Southwest,

2025-05-17T01:40:06Z

Microsoft offers to sell Office with Teams at lower price in EU antitrust probe

BRUSSELS (Reuters) -Microsoft has offered to sell its Office product without Teams at a lower price than Office with Teams as well as offer rivals better interoperability access to its services and products, EU antitrust regulators said on Friday. The European Commission said it was now going to seek feedback from rivals and customers before deciding whether to accept the offer. Reuters was the

2025-05-16T09:54:23Z

Discovery's Citrone says America Movil is his top stock name

NEW YORK (Reuters) - Discovery Capital's founder Rob Citrone said on Wednesday his favorite stock at this moment is Mexico's America Movil due to its exposure to many different countries in Latin America. Citrone, who manages a macro hedge fund, is bullish on Latin America as a diversification to investments in the U.S. Discovery posted a 52% gain last year. He sees opportunities in Latin

2025-05-14T22:37:42Z

Deere cuts lower end of annual profit forecast on softer demand

(Reuters) - Deere & Co cut the lower end of its annual profit forecast on Thursday over softer demand for its tractors from farmers opting to rent machines instead. Farmers facing high interest rates and weaker crop prices are leaning more towards renting rather than buying machinery, hitting sales of big-ticket equipment such as tractors and combines. Tariffs imposed by U.S. President Donald

2025-05-15T10:18:24Z

In Tesla’s wake, more big companies propose voting 'Dexit' to depart Delaware

By Tom Hals WILMINGTON, Delaware (Reuters) -In the coming weeks, investors in nine public companies worth at least $1 billion each will vote on proposals to ditch Delaware as their place of incorporation, potentially denting the state's longtime reputation as Corporate America's capital, Reuters has found. Five companies with a stock market value of at least $1 billion have moved their legal

2025-05-14T22:37:46Z

Commerzbank CEO and workers rally to fend off UniCredit as investors meet

By Tom Sims, Matthias Inverardi and Tilman Blasshofer WIESBADEN (Reuters) -Commerzbank's chief executive and hundreds of employees voiced support for the German lender's standalone strategy as its shareholders met on Thursday, stepping up efforts to fend off advances of Italy's UniCredit. About 200 Commerzbank employees gathered outside the venue of the annual shareholder meeting, carrying

2025-05-15T13:48:28Z

Demand for flights to China has risen recently, Singapore Airlines exec says

SEOUL (Reuters) -Singapore Airlines has seen a surge in passenger traffic into China in recent months, but outbound travel has still not recovered to pre-pandemic levels, Chief Commercial Officer Lee Lik Hsin said on Friday. "We have seen quite a surge in inbound travel into China in the last six months or so," Lee said at a news briefing following the release of their annual results. Load

2025-05-16T05:34:11Z

Qatar Airways orders 160 Boeing twin-aisle jets during Trump visit

By Andrew Mills and Dan Catchpole DOHA/SEATTLE (Reuters) - Boeing landed its biggest deal for widebody airplanes on Wednesday when state carrier Qatar Airways placed firm orders for 160 jetliners plus options to buy 50 more during President Donald Trump's visit to the Gulf Arab country. The deal for Boeing 777X and 787 planes with GE Aerospace engines was worth $96 billion, according to the

2025-05-15T04:47:58Z

Fed's Barr says economy on solid footing, trade dispute clouds outlook

WASHINGTON (Reuters) -The U.S. economy is on solid footing with inflation heading to the central bank's 2% target, but trade policies have clouded the outlook, Federal Reserve Governor Michael Barr said on Thursday. "The economy is on solid footing, with solid growth, low and stable unemployment, and inflation continuing to come down towards our 2% target," Barr said in remarks prepared for

2025-05-15T18:13:37Z

Coinbase says it strongly believes US SEC investigation should not continue

(Reuters) -Coinbase said on Thursday it strongly believes a regulatory investigation by the U.S. securities regulator into its disclosures of monthly transacting users should not continue. The statement follows a New York Times report that said the U.S. Securities and Exchange Commission is investigating whether Coinbase's user numbers in past disclosures were accurate. "This is a hold-over

2025-05-15T18:13:40Z

Dick's Sporting Goods to buy Foot Locker for $2.4 billion

(Reuters) -Dick's Sporting Goods has agreed to buy smaller rival Foot Locker for $2.4 billion, the companies said on Thursday. Shares of Foot Locker surged 75% to $22.50 premarket after the announcement, while Dick's Sporting fell 9%. The sporting goods retailer has offered $24 per share of Foot Locker, representing an 86% premium to the stock's last close. Foot Locker has lost about 40% of its

2025-05-15T10:18:23Z

Lufthansa management should be tougher with unions, says top investor Kuehne

BERLIN (Reuters) -Lufthansa's management should be more vigorous in fending off resistance from labour representatives, top investor Klaus-Michael Kuehne was quoted as saying on Saturday, pointing to the airline group's share price. Lufthansa is counting on lucrative transatlantic routes as it strives to revive its namesake core airline, bogged down by wage talks and high pay, and find new

2025-05-16T23:10:01Z

Thyssenkrupp keeps outlook, expects more stable environment in H2

FRANKFURT (Reuters) -Thyssenkrupp kept its outlook for the fiscal year and expects a more stable market environment in the second half of 2025, it said on Thursday, after lower prices and demand as well as maintenance-related shutdowns caused quarterly profit to plunge. Second-quarter adjusted operating profit (EBIT) fell 90% to 19 million euros ($21 million), the submarines-to-car parts maker

2025-05-15T05:52:59Z

Nissan CEO urges faster Japan-U.S. trade talks

TOKYO (Reuters) -Nissan CEO Ivan Espinosa said on Thursday he expects Japanese trade negotiators to move more quickly in the country's trade negotiations with the United States, adding he hoped to get clarity on trading rules for the Japanese automaker. Asked at an automotive summit hosted by the Financial Times if he thought the Japanese trade negotiators had moved fast enough to secure lower

2025-05-15T10:23:46Z

Tesla to add Chipotle executive Jack Hartung to board

(Reuters) -Tesla will add Chipotle executive Jack Hartung to its board of directors and audit committee in June, the electric vehicle maker said on Friday. Hartung's addition will expand Tesla's board to nine members. Joe Gebbia, the co-founder of Airbnb was the last addition to the board in 2022. Tesla's board has come under scrutiny amid reports that it is exploring a potential replacement for

2025-05-16T13:09:37Z

Dick's Sporting Goods closes in on deal to buy rival Foot Locker, WSJ reports

(Reuters) - Dick's Sporting Goods was nearing a deal to buy rival footwear retailer Foot Locker for about $2.3 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The companies have discussed a deal at $24 per share for Foot Locker, the report said. That would represent an 86.5% premium to the stock's last closing price. Shares of Foot Locker surged

2025-05-14T21:32:29Z

Commerzbank CEO and workers fend off UniCredit as shareholders meet

WIESBADEN (Reuters) -Commerzbank's chief executive and hundreds of employees on Thursday voiced support for the German lender's standalone strategy, fending off advances of Italy's UniCredit. "We are focussing on ourselves and our independent strategy," Commerzbank CEO Bettina Orlopp told Reuters. "That is the most important thing." She was speaking shortly before the start of the bank's annual

2025-05-15T08:03:14Z