Business
NYCB to sell nearly $5 billion of mortgage warehouse loans to JPMorgan
(Reuters) - Embattled regional lender New York Community Bancorp said on Tuesday it has agreed to sell about $5 billion in mortgage warehouse loans to JPMorgan Chase. The deal bolsters NYCB's liquidity and capital as it executes a crucial ...
OpenAI co-founder Ilya Sutskever departs
(Reuters) - OpenAI co-founder Ilya Sutskever has made the decision to leave the firm, he said in a post on X on Tuesday. (Reporting by Akanksha Khushi in Bengaluru; Editing by Shailesh Kuber)
Digital bank Chime debuts advance wage product ahead of anticipated IPO
By Hannah Lang (Reuters) - U.S. digital bank Chime is launching a product that will allow customers to access up to $500 of their wages before payday, the latest move by a financial technology company to enter the fast-growing "earned wage ...
Chinese firms make headway in producing high bandwidth memory for AI chipsets
By Fanny Potkin and Eduardo Baptista SINGAPORE/BEIJING (Reuters) - Two Chinese chipmakers are in the early stages of producing high bandwidth memory (HBM) semiconductors used in artificial intelligence chipsets, according to sources and ...
Canada to convene meeting to discuss money laundering allegations against TD Bank
(Reuters) - The Canadian House of Commons finance committee said it will hold a meeting on Friday to discuss recent allegations related to drug traffickers laundering money at TD Bank. A U.S. Department of Justice investigation into TD Bank was ...
US says Boeing breached 2021 deferred prosecution 737 MAX agreement
(Reuters) - The U.S. Justice Department said late on Tuesday that Boeing Co had breached its obligations in a 2021 agreement that shielded the planemaker from criminal prosecution over fatal 737 MAX crashes in 2018 and 2019. The Justice ...
Vanguard preparing to tap former BlackRock executive Salim Ramji as CEO, WSJ reports
(Reuters) - Vanguard Group is preparing to name former BlackRock executive Salim Ramji as its CEO, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Ramji led BlackRock's exchange-traded funds and index ...
EV startup Canoo posts larger-than-expected loss in first quarter
(Reuters) - Electric vehicle startup Canoo posted a larger-than-expected loss for the first quarter on Tuesday, but kept its outlook for the year unchanged. Slowing demand in the United States and stiff competition from Chinese EV makers in the ...
US banking regulators announce July 19 public meeting on Capital One-Discover deal
WASHINGTON (Reuters) - A pair of U.S. banking regulators announced on Tuesday they would be hosting a public meeting on July 19 to solicit input on the proposed acquisition of Discover Financial Services by Capital One Financial Corporation. The ...
Morning Bid: Markets buoyant, but wary of CPI, tariffs
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian markets should open in upbeat mood on Wednesday as lower U.S. bond yields and a weaker dollar reflect expectations that the Fed will cut interest rates as early as ...
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Small US businesses fear TikTok ban after it turbocharged sales
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