By Juveria Tabassum, Nicholas P. Brown (Reuters) -Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its leadership amid efforts to revive sales and battle rising competition. The company’s shares rose 8% in after-hours trading. Hill…
(Reuters) – The U.S. Federal Reserve’s watered-down version of a landmark bank capital proposal is facing resistance from the Federal Deposit Insurance Corporation, a top banking regulator, Bloomberg News reported on Friday. At least three of five FDIC directors oppose the latest overhaul, the report said, citing people familiar with their thinking. The report points…
(Reuters) – General Motors’ self-driving unit Cruise said on Thursday it will begin supervised testing with up to five autonomous vehicles in fall this year in California’s Bay Area. Cruise will deploy several manual mapping vehicles in Sunnyvale and Mountain View, following which the testing will start, it said in a post on social media platform…
WASHINGTON (Reuters) -The World Bank Group said on Thursday it delivered a record $42.6 billion in climate finance during fiscal 2024, a 10% increase over the $38.6 billion the prior year and close to its target of a 45% share of total financing devoted to climate projects. The $4 billion increase in climate financing during…
By Medha Singh and Noel Randewich (Reuters) – While former U.S. President Donald Trump has said he will not sell his $1.7 billion stake in Trump Media after restrictions likely expire on Thursday, other insiders could soon cash in their gains. Trump Media & Technology Group is 57% owned by the Republican presidential candidate who…
By Greg Bensinger (Reuters) – Amazon.com announced on Thursday a new artificial intelligence application that it says will help its independent sellers with sales metrics, inventory maintenance and product advertising, among other things. The move is part of a broader Big Tech effort to employ the technology for greater automation. The software, dubbed Amelia, can…
LONDON (Reuters) – When the Federal Reserve delivers a widely-anticipated interest rate cut on Wednesday, its first in four years, the move will resonate well beyond the United States. The size of a first move and the scale of overall easing remains open to debate, while a looming U.S. election is another complicating factor for…
By David Shepardson (Reuters) -Boeing said on Wednesday the planemaker will temporarily furlough tens of thousands of employees after about 30,000 machinists went on strike on Friday, halting production of its 737 MAX and other airplanes. “We are initiating temporary furloughs over the coming days that will impact a large number of US-based executives, managers…
By Sheila Dang (Reuters) – Billionaire Elon Musk has endorsed Republican former President Donald Trump in the race for the White House, but employees at his collection of companies are largely donating to Trump’s Democratic rival Kamala Harris. Workers at Tesla have contributed $42,824 to Harris’ presidential campaign versus $24,840 to Trump’s campaign, according to…
(Reuters) – The interest rate for the most popular U.S. home loan fell last week to its lowest level in two years, on anticipation the Federal Reserve will start cutting interest rates on Wednesday, potentially by as much as a half of a percentage point. The average contract rate on a 30-year fixed-rate mortgage dropped…
