By Nupur Anand and Niket Nishant (Reuters) -JPMorgan Chase’s profit beat estimates in the first quarter, but its shares fell 6% after forecasts for interest income fell short of analysts’ expectations on Friday. The largest U.S. lender slightly increased its estimate for net interest income (NII), or the difference between what a bank earns on…
By Krystal Hu and Dawn Chmielewski (Reuters) – OpenAI Chief Executive Sam Altman has hosted hundreds of Fortune 500 company executives in San Francisco, New York and London this month where he and other OpenAI executives pitched AI services for corporate use, going head to head in some cases with financial backer Microsoft, attendees told…
By Manya Saini and Tatiana Bautzer (Reuters) -Citigroup’s first-quarter profit fell 27% as the bank took charges related to its reorganization, although it beat expectations as revenues grew in key divisions. The bank’s shares were volatile, wiping out an earlier gain to slide 2% while other bank stocks also weakened. Citi’s net income fell to…
(Reuters) -Morgan Stanley’s wealth management arm is being probed by multiple regulators, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The U.S. Securities and Exchange Commission, the Office of the Comptroller of the Currency (OCC) and other Treasury Department offices are involved, the report said. The bank’s shares fell 4.8%…
By Ananya Mariam Rajesh (Reuters) -Traders piled into shares of Rent the Runway on Thursday, sending the shares up by more than 220% after the apparel rental firm said it was betting on artificial intelligence tools to power its growth in the current year. More than 34 million shares had changed hands, far surpassing the…
By Andrew Goudsward WASHINGTON (Reuters) -Donald Trump suffered a pair of legal setbacks on Thursday as judges spurned his calls to dismiss criminal charges over the former U.S. president’s efforts to overturn his 2020 loss in Georgia and his keeping classified records after leaving office. Separately, one of the Republican presidential candidate’s allies, former Justice…
By Jonathan Allen NEW YORK (Reuters) -A federal judge on Thursday denied a request by New York’s Nassau County to let it enforce new restrictions on transgender athletes at county sports venues without facing legal action by the state’s attorney general for violations of anti-discrimination laws. Nassau County Executive Bruce Blakeman, a Republican, issued an…
By Stephanie Kelly and Jarrett Renshaw WASHINGTON (Reuters) -Centrist group No Labels will not field a third-party bid for the U.S. presidency because it could not find a candidate with a credible path to winning the White House, the group said on Thursday. Only last month some 800 No Labels delegates voted to launch a…
By Nivedita Balu TORONTO (Reuters) – Royal Bank of Canada expects its struggling unit in the U.S. to be “a net contributor” to Canada’s biggest lender and is bullish about the opportunities south of the border, CEO Dave McKay told Reuters on Wednesday. City National Bank, which RBC acquired in 2015 under McKay’s watch, required…
By Steve Holland WASHINGTON (Reuters) -U.S. President Joe Biden will speak by phone with Israeli Prime Minister Benjamin Netanyahu on Thursday, three days after Israel launched an attack in which seven World Central Kitchen aid workers were killed, a U.S. official said. The White House has described Biden as outraged and heartbroken by the attack…
