Business

Wells Fargo's corporate and investment bank co-CEO Jon Weiss to depart after 20 years. Weiss will step down immediately and retire on June 1, with Fernando Rivas to become the sole leader of the unit.

Published on: January 30, 2025, 03:05 PM UTC

The US economy expanded at a solid 2.3% in the fourth quarter of 2024, driven by strong consumer spending and a surge in demand from consumers. However, the economy faces challenges such as a decline in nonresidential fixed investment and the threat of tariffs.

Published on: January 30, 2025, 03:04 PM UTC

Cigna shares fell due to higher-than-expected costs from catastrophic medical coverage plans. The insurer's 2025 earnings forecast is below analyst estimates, due to increased spending on medical costs.

Published on: January 30, 2025, 03:04 PM UTC

Microsoft's cloud business growth slows as data center capacity struggles to meet AI demand, with Azure revenue increasing only up to 32% in Q3 despite strong demand and commercial bookings growth.

Published on: January 30, 2025, 03:04 PM UTC

US economy grew 2.3% in Q4, below expectations. Consumer spending and government spending drove growth, but declines in investment and inventories limited gains. PCE index excluding food and energy rose 2.5%, in line with estimates. Fed meeting suggests no rate cuts in Q1, with markets seeing less than 50% chance of cut before June.

Published on: January 30, 2025, 03:02 PM UTC

Starbucks CEO must improve consumer perception that the chain's coffee costs too much to achieve a turnaround in North America sales. Data suggests the company has a long way to go, with prices higher than competitors in major markets. While Starbucks offers an improved experience with free refills and ceramic mugs, earnings results show a decline in sales and operating profit margins. The company is investing in marketing and store improvements to address the issue, but has not provided guidance for the current fiscal year.

Published on: January 30, 2025, 03:02 PM UTC

Tesla sees growth in 2025 after missing earnings targets in 2024, with full self-driving expansion expected throughout the US and the rest of the world by the end of 2025 and 2026, respectively.

Published on: January 30, 2025, 03:01 PM UTC

Byju's executive and ally found in contempt of court, face $25,000 daily fine for asset stripping in US

Published on: January 30, 2025, 03:00 PM UTC

Continental's ContiTech division to close four plants, affecting 580 employees

Published on: January 30, 2025, 03:00 PM UTC

Read the latest on L3Harris Technologies. The defense contractor forecasts 2025 sales above estimates, with Q4 results beating expectations.

Published on: January 30, 2025, 02:09 PM UTC