FDIC rule would make banks keep fintech customer data after Synapse debacle
Tsingha25 | Istock | Getty Images The Federal Deposit Insurance Corp. on Tuesday proposed a new rule forcing banks to keep detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of Americans being locked out of their accounts. The rule, aimed at accounts opened by fintech firms […]
How Microsoft’s dividend hike and new $60 billion buyback program stack up
Only three U.S. companies have ever announced buyback programs bigger than Microsoft’s latest — though the new dividend yield is still low relative to those of fellow Dow components.
Pret a Manger’s U.S. expansion sees cafe chain’s sales hit $1.5 billion
The coffee seller said one quarter of its overall sales are now generated outside the U.K.
Radiopharmaceuticals race heats up as drugmakers chase Novartis
Drugmakers are betting that delivering radiation directly to tumors will become the next big cancer breakthrough. Bristol Myers Squibb, AstraZeneca, Eli Lilly and other pharmaceutical companies have spent some $10 billion on deals to acquire or work with radiopharmaceutical makers. They’ve snapped up smaller upstarts to get their hands on technology that, while in its […]
Boeing freezes hiring in sweeping cost cuts as it grapples with strike
Workers with picket signs outside the Boeing Co. manufacturing facility during a strike in Everett, Washington, US, on Friday, Sept. 13, 2024. M. Scott Brauer | Bloomberg | Getty Images Boeing announced sweeping cost cuts Monday, including a hiring freeze, a pause on nonessential staff travel and a reduction on supplier spending to preserve cash […]
Trump crypto project: Why there’s ‘enormous potential downside’ for the campaign
Donald Trump’s family is preparing to launch a new crypto project on Monday evening, and while many digital-asset boosters are cheering the venture as further evidence of the former president’s dedication to crypto, several supporters worry it could backfire.
Tapestry-Capri antitrust trial: Michael Kors testifies
NEW YORK CITY — In a federal courtroom on Monday, storied fashion designer Michael Kors spoke about the steep challenge of staying relevant in a world where brands can rise and fall based on viral TikTok videos and photos of handbags on the arms of celebrities such as Taylor Swift and Beyoncé. Kors kicked off […]
Why Intel’s latest move for its foundry business is so significant
Intel Corp.’s plans to create an independent subsidiary for its foundry business was a much-needed move aimed at convincing potential customers that they can trust their chip designs with a competitor’s manufacturing arm.
UAW union files unfair labor charges against Stellantis
United Automobile Workers (UAW) President Shawn Fain speaks on the first day of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, on August 19, 2024. Mandel Ngan | AFP | Getty Images DETROIT — The United Auto Workers union on Monday said it had filed federal unfair labor practice charges against […]
Intel’s stock is shrugging off the chip sector’s weakness. Here’s why.
Intel says a new $3 billion government deal reflects the “continued progress” of its foundry business.
