By Ananya Mariam Rajesh (Reuters) – Ross Stores on Thursday raised its annual profit forecast after upbeat quarterly results, buoyed by budget-conscious customers increasingly shopping at the of[...]
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May 18, 2023
Debt default could trigger recession, Harris and Brainard warn
By Doina Chiacu and Steve Holland WASHINGTON (Reuters) -Vice President Kamala Harris and top White House economic adviser Lael Brainard said on Thursday that a default on the U.S. debt of $31.4 trilli[...]
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Applied Materials forecasts third-quarter revenue above estimates
By Tiyashi Datta and Stephen Nellis (Reuters) – Semiconductor manufacturing tools maker Applied Materials Inc forecast third-quarter revenue above market estimates on Thursday, as governments ar[...]
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Yellen reaffirms strength of US banking system in meeting with bank CEOs -Treasury
By Pete Schroeder and Costas Pitas WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen reaffirmed the strength and soundness of the country’s banking system in a meeting with bank CEOs on[...]
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US dollar hits seven-week high, bolstered by data, debt ceiling hopes
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar rose to seven-week peaks on Thursday as another round of solid economic data further pared back bets on easing by the Federal Reserve,[...]
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Meta announces AI training and inference chip project
By Katie Paul and Stephen Nellis NEW YORK (Reuters) -Meta Platforms on Thursday shared new details on its data center projects to better support artificial intelligence work, including a custom chip[...]
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Hollywood actors’ union asks members to authorize possible strike
By Lisa Richwine LOS ANGELES (Reuters) – The board of Hollywood’s actors union asked members on Thursday to give negotiators the power to call a strike, a move that would add new pressure[...]
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US manufacturers can’t shake that inflation feeling even as supply snarls ease
By Timothy Aeppel CHICAGO (Reuters) -For Matthew Prange, it’s easy to see why the inflation surge of the last two years has proven so difficult for the Federal Reserve to tame. “When price[...]
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FTX seeks to claw back over $240 million from Embed acquisition
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no in[...]
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