(Reuters) – Loyalty program Bilt Rewards said on Wednesday it had more than doubled its valuation to $3.1 billion after its latest funding round led by venture capital firm General Catalyst. Launched in April 2022, Bilt allows customers to earn rewards on rent payments, which then can be redeemed for travel bookings, shopping and other …
Bilt Rewards valued at $3.1 billion after General Catalyst-led fundraise Read More »
By Pete Schroeder WASHINGTON (Reuters) – A senior attorney with the Federal Deposit Insurance Corporation has pleaded guilty to one charge of sexually exploiting children, the Justice Department announced late Tuesday. Mark Black, 50, was a member of two online groups dedicated to finding prepubescent girls and convincing them to livestream themselves engaging in sexually …
Senior FDIC attorney pleads guilty to sexually exploiting children – DOJ Read More »
By Mehr Bedi and Mike Stone (Reuters) – General Dynamics beat Wall Street expectations for fourth-quarter revenue on Wednesday, as a tense global political climate sustained demand for its military equipment even as supply-chain pressures drove up costs. Net earnings at the Reston, Virginia-based defense contractor came in at $3.64 per share, below analysts’ average …
General Dynamics revenue beats on defense demand; supply woes persist Read More »
WASHINGTON (Reuters) – U.S. business activity picked up in January and inflation appeared to abate, with a measure of prices charged by companies for their products falling to the lowest level in more than 3-1/2 years, suggesting that the economy kicked off 2024 on a strong note. S&P Global said on Wednesday that its flash …
US business activity picks up in January; inflation cooling – S&P Global survey Read More »
(Reuters) -Global growth will likely slow this year, but a dovish tilt in the Federal Reserve’s stance has raised hopes for the U.S. economy and brightened the outlook for riskier assets, according to big banks. The European Central Bank and the Bank of England sticking to their higher-for-longer rates stance, however, has blurred expectations for …
Factbox-What to expect in 2024: Fed pivot, cooling inflation, easing growth Read More »
By Steve Scherer and Promit Mukherjee OTTAWA, Jan 24 (Reuters) – The Bank of Canada (BoC) held its key overnight rate at 5% on Wednesday and said while underlying inflation was still a concern, the bank’s focus is shifting to when to cut borrowing costs rather than whether to hike again. The BoC governing council …
Bank of Canada holds rates, says policy talks shift toward when to cut Read More »
(Reuters) -U.S. carrier AT&T forecast annual profit below market estimates on Wednesday as it lowers the value of its old equipment and grapples with competition from cable operators, sending its shares down more than 2%. The writedown of Nokia equipment will reduce annual earnings per share by nearly 17 cents and comes as AT&T shifts …
AT&T’s equipment writedown hurts annual profit view, shares slip Read More »
By Aditya Soni (Reuters) -Netflix soared 11% on Wednesday as its blowout subscriber growth cemented investor confidence the firm has won the streaming wars with its password-sharing crackdown and a strong content slate. The company said on Tuesday 13.1 million signed up for its service in the fourth quarter, marking its best growth since the …
Netflix soars as earnings highlight dominance in ‘streaming wars’ Read More »
By Mike Scarcella (Reuters) – Brown, Yale and Columbia universities have agreed to pay a combined $62 million to resolve a lawsuit that accused them and others of favoring wealthy applicants, pushing total settlements in the case to $118 million. Lawyers for a proposed class of hundreds of thousands of current and former U.S. college …
Brown, Yale, Columbia among latest to settle financial-aid lawsuit Read More »
By Fergal Smith TORONTO (Reuters) – The Bank of Canada’s unwinding of a pandemic-era stimulus policy could end sooner than expected after a shortage of cash in the financial system forced the central bank to use a key liquidity operation for the first time in four years. CORRA, the rate at which banks lend funds …
