News
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Kohl's cuts 10% of its corporate workforce
Adds details and background from paragraph 2 onwards Jan 28 (Reuters) - Kohl's KSS.N said on Tuesday it has reduced nearly 10% of its corporate workforce, as the department store chain aims to improve profitability.The company said more than half of the total reductions would come from closin...Reuters
Tue, Jan 28
Judge temporarily pauses Trump's freeze on grants, loans
Trump announces temporary freeze on federal aidNonprofits say pause of funds would be "devastating"Trump has said he has power to withhold moneyAdds lawsuit by states in paragraphs 9-10By Nate Raymond and Andrew Goudsward WASHINGTON, Jan 28 (Reuters) - A U.S. judge on Tuesday temporarily ...Reuters
Tue, Jan 28
US federal worker buyout program begins Tuesday, available to civilian employees, memo says
WASHINGTON, Jan 28 (Reuters) - A U.S. federal worker buyout program begins on Tuesday and is available to all federal civilian employees, with some exceptions, according to a White House email shared with Reuters.The email added that the deferred resignation program will allow benefits and pay until...Reuters
Tue, Jan 28
RenRe Q4 CR deteriorates to 91.7%, estimates $750mn LA wildfires Q1 negative impact
By Michael LoneyJan 28 - (The Insurer) - RenaissanceRe has reported a Q4 earnings beat despite its combined ratio deteriorating 15.7 points, while the Bermudian company also disclosed it expects a $750mn Q1 net negative impact from the Los Angeles wildfires based on a 1.5 percent share of industry l...Reuters
Tue, Jan 28
Insurer Chubb's profit rises on strong underwriting business, investment income
Jan 28 (Reuters) - Insurance company Chubb CB.N posted a rise in fourth-quarter profit on Tuesday, helped by strong gains in its underwriting business and higher returns on its investments.However, the Zurich-based insurer said it expects a pre-tax net cost of $1.5 billion from the California fires,...Reuters
Tue, Jan 28
White House press secretary channels Trump at first briefing
By Steve Holland, Andrea Shalal and Nandita Bose WASHINGTON, Jan 28 (Reuters) - White House press secretary Karoline Leavitt made her briefing debut on Tuesday, where she sparred with reporters over a federal freeze on grants and made clear that President Donald Trump himself will be the administ...Reuters
Tue, Jan 28
BRIEF-US state attorneys general sue to block Trump funding pause
Jan 28 (Reuters) - Lawsuit is filed in federal court in providence, rhode island; copy of complaint not immediately available onlineState attorneys general say the pause, unless stopped, could last weeks or months, and that omb's late clarification that the pause was not 'across-the-board...Reuters
Tue, Jan 28
US FDA approves Novo Nordisk's Ozempic to cut risk of diabetic kidney disease progression
Adds analyst comment in paragraph 4 Jan 28 (Reuters) - The U.S. FDA has approved Novo Nordisk's NOVOb.CO Ozempic for reducing the risk of kidney failure and disease progression, as well as death due to heart problems in diabetes patients with chronic kidney disease (CKD), the Danish drugmaker...Reuters
Tue, Jan 28
Rubio's Central America trip aims to counter China, State Department says
Trump has vowed to take back Panama Canal, raising invasion concernsTrump falsely claims China operates Panama CanalChina's growing influence in Latin America worries WashingtonRubio is scheduled to visit Panama, other nations in Central AmericaAdds quotes from Fox Business interview in paragrap...Reuters
Tue, Jan 28
Clorox names insider CFO as company veteran Jacobsen to retire
Jan 28 (Reuters) - Cleaning products maker Clorox CLX.N said on Wednesday long-time finance chief Kevin Jacobsen will step down and would be succeeded by insider Luc Bellet.The leadership transition occurs as the Pine-Sol maker shifts its focus toward digital transformation and growth initiatives.St...Reuters
Tue, Jan 28
EXPLAINER-Trump's spending pause and its legality
Adds OMB memo on White House's view, paragraph 9By Tom Hals and Andy Sullivan Jan 28 (Reuters) - U.S. President Donald Trump's administration on Monday issued a sweeping directive to federal agencies to temporarily pause billions of dollars of spending on health care, housing assistance a...Reuters
Tue, Jan 28
BRIEF-Softbank Corp Co & Quantinuum Agreed To Wide-Ranging Partnership In Quantum Computing
Jan 28 (Reuters) - SOFTBANK CORP 9434.T:SOFTBANK CORP: CO & QUANTINUUM AGREED TO WIDE-RANGING PARTNERSHIP IN QUANTUM COMPUTINGSOFTBANK CORP: CO & QUANTINUUM TO CONDUCT JOINT MARKET RESEARCH & DEVELOP BUSINESS MODEL FOR QUANTUM DATA CENTERReuters
Tue, Jan 28
Pentagon to pull Milley's security clearance, Fox reports
By Caitlin WebberWASHINGTON, Jan 28 (Reuters) - U.S. Defense Secretary Pete Hegseth will announce he is revoking the security clearance and personal security detail for retired Army General and former chairman of the Joint Chiefs of Staff Mark Milley, Fox News reported on Tuesday cited multiple seni...Reuters
Tue, Jan 28
LVMH considers widening US footprint as CEO Arnault expresses France fatigue
By Tassilo Hummel, Mimosa Spencer PARIS, Jan 28 (Reuters) - Luxury giant LVMH LVMH.PA is "seriously considering" bulking up its production capacities in the United States, CEO Bernard Arnault said on Tuesday, praising a "wind of optimism" in the country that contrasted with the &#...Reuters
Tue, Jan 28
US Bancorp President Gunjan Kedia to become its first female CEO
Andy Cecere departs after 40 years at the bank Gunjan Kedia joined U.S. Bancorp in 2016 The bank has lagged broader markets in 2024Changes wording in paragraph 2, 10By Pritam Biswas Jan 28 (Reuters) - U.S. Bancorp USB.N announced on Tuesday that President Gunjan Kedia will become its chief execut...Reuters
Tue, Jan 28
Ignite Specialty Risk adds Liberty Mutual's Patel as US head of IP underwriting
By Isha MaratheJan 28 - (The Insurer) - London-based litigation risk-focused MGA Ignite Specialty Risk has hired Ankit Patel as US head of intellectual property underwriting.Patel, who has over a decade of industry experience, has joined Ignite from his previous role as Liberty Mutual Americas cont...Reuters
Tue, Jan 28
Auto tech firm CDK reaches $630 million settlement in US dealer data case
Adds statement from CDK in paragraph 7By Mike Scarcella Jan 28 (Reuters) - Automotive technology giant CDK Global has agreed to pay $630 million to settle antitrust claims that it caused hundreds of software vendors to overpay for vehicle dealership data by restricting access.The proposed settlem...Reuters
Tue, Jan 28
