By Dietrich Knauth NEW YORK (Reuters) – Crafts retailer Joann Inc plans to close all of its stores in bankruptcy, after failing to find a buyer willing to preserve some of the 82-year-old company’s 800 U.S. retail locations. The company plans to sell all its assets to a buyer group that includes its lenders and…
(Reuters) – JPMorgan Chase said on Monday it was setting aside another $50 billion for its direct lending push, as the Wall Street giant looks to expand its foothold in the rapidly growing private credit market. Traditional lenders such as JPMorgan, Citigroup, and Wells Fargo are rushing to grab a bigger slice of the booming…
(Reuters) – Uber’s CEO Dara Khosrowshahi said on Friday that both he and the ride-hailing firm are supportive of U.S. President Donald Trump’s initiative to eliminate taxes on tips received by its drivers. “I think the President has said he believes in no taxes on tips generally. We think it’s a terrific idea and we…
By Nathan Layne (Reuters) – The U.S. Internal Revenue Service has blocked a key aide to tech billionaire Elon Musk from accessing individual taxpayer returns or other personal information as part of a deal signed between the tax-collecting agency and the Trump administration. The agreement would seem to avert what some IRS officials had privately…
(Reuters) – Franklin Templeton filed for an exchange-traded fund on Friday that will track the spot price of Solana, reflecting the growing interest among asset managers to profit from the popularity of cryptocurrencies beyond bitcoin. As regulatory conditions ease and a crypto-friendly president takes office, investors are increasingly diving into digital assets and ramping up…
By Steve Holland WASHINGTON (Reuters) -President Donald Trump will sign a memorandum on Friday that will direct the Committee on Foreign Investment in the United States to restrict Chinese investments in strategic areas, a White House official said. The national security memorandum is aimed at promoting foreign investment while protecting U.S. national security interests from…
By Sarah Morland MEXICO CITY (Reuters) – The chief executive of streaming giant Netflix on Thursday announced a $1 billion investment to produce some 20 films and TV series in Mexico annually over the next four years. Speaking at President Claudia Sheinbaum’s morning press conference in Mexico City, Netflix CEO Ted Sarandos said he looked…
ROME (Reuters) – Italy’s Leonardo has identified a new industrial partner for its aerostructures unit which has been hit by the problems of U.S. planemaker Boeing, the state-controlled group’s CEO said on Thursday. Leonardo has been attempting for several years to return its aerostructures business to profit. CEO Roberto Cingolani said in November it was…
By Ananya Mariam Rajesh (Reuters) – PepsiCo has joined the growing list of major U.S. companies that are making changes to their diversity, equity and inclusion programs as President Donald Trump pushes to dismantle the practice across the federal government and private sector. The Frito-Lay to 7Up maker will end DEI workforce representation goals and…
BRASILIA (Reuters) – Brazilian Supreme Court Justice Alexandre de Moraes ordered the social media platform X owned by billionaire Elon Musk to pay a fine of 8.1 million reais ($1.42 million) for noncompliance with judicial orders, according to a ruling made public on Thursday. The decision stems from a legal process last year in which…
