Author: Reuters
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Finance chiefs see U.S. prices rising next year, tariffs still a top concern
WASHINGTON – U.S. corporate finance chiefs continue to cite tariffs as a top concern and on average see prices rising more than 4% next year, according to a survey released on Wednesday that may add to Federal Reserve concerns that current price pressures will keep it from reaching its 2% inflation target anytime soon. “Businesses…
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Medline rises in Nasdaq debut, tops 2025 IPOs
Medline shares rose 20.7% in their hotly anticipated New York debut on Wednesday, valuing the medical supply giant at $46 billion in the largest U.S. initial public offering since Rivian’s 2021 listing, capping a strong year for new listings and fueling optimism for 2026. Shares of the company opened at $35, compared with its IPO…
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Google works to erode Nvidia’s software advantage with Meta’s help
Alphabet’s Google is working on a new initiative to make its artificial intelligence chips better at running PyTorch, the world’s most widely used AI software framework, in a move aimed at weakening Nvidia’s longstanding dominance of the AI computing market, according to people familiar with the matter. The effort is part of Google’s aggressive plan…
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Pfizer foresees challenging 2026 on fading COVID sales, margin pressure
Pfizer’s profits will fall short of Wall Street estimates next year, as it faces weaker sales of COVID products and squeezed margins stemming from its deal with the U.S. government to lower prescription drug costs. The drugmaker does not expect to return to growth until 2029, facing looming generic competition on several older medicines set…
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Kraft Heinz taps former Kellogg chief as CEO to steer split
Kraft Heinz on Tuesday named former Kellogg chief Steve Cahillane as its CEO, tasking the industry veteran with leading the packaged food giant through a planned split into two stand-alone companies. The company in September decided to break up, with one company focused on condiments like Heinz ketchup and the other on grocery food brands…
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California Pizza Kitchen reaches buyout deal, names new leadership
An investor group led by Consortium Brand Partners is buying California Pizza Kitchen and has tapped the CEO of Convive Brands to run its restaurants, the company told Reuters on Tuesday, five years after the chain’s pandemic-driven bankruptcy. Jon Weber, chief executive officer of Convive Brands, which is part of the investor group, will also become…
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Hyundai, Kia to retrofit 4 million U.S. vehicles to address theft concerns
WASHINGTON – Korean automakers Hyundai and Kia agreed on Tuesday to retrofit more than 4 million U.S. vehicles to address theft concerns and install prevention equipment on all new vehicles to resolve an investigation by a bipartisan coalition of 35 attorneys general. The state attorneys general said the automakers will offer free zinc-reinforced ignition cylinder…
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U.S. job growth rebounds in November
U.S. job growth rebounded more than expected in November after nonfarm payrolls were depressed in October by government-related spending cuts, suggesting no material deterioration in labor market conditions as businesses navigate economic uncertainty wrought by President Donald Trump’s aggressive trade policy. While the Labor Department’s closely watched employment report on Tuesday showed the unemployment rate…
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U.S. retail sales unexpectedly unchanged in October
WASHINGTON – U.S. retail sales were unexpectedly flat in October, though consumer spending appears to have remained on a solid footing at the start of the fourth quarter despite the rising cost of living that is forcing some households to scale back. The unchanged reading in retail sales reported by the Commerce Department’s Census Bureau…
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White House plans more ‘historic deals’ with mining sector
The Trump administration plans more “historic deals” with the U.S. mining sector to boost production of critical minerals for the national defense and high-tech sectors, a senior official said Monday. Earlier this year, the administration took equity stakes in MP Materials, Lithium Americas and Trilogy Metals. The transactions were part of President Donald Trump’s push to increase…