Goldman Sachs’ profit more than doubled in the second quarter and beat analysts’ estimates on strong debt underwriting and fixed-income trading, but slipped from a bumper first quarter when earnings were the highest since 2021.The resilience of the US economy has given corporate executives the confidence to pursue acquisitions, debt sales and stock offerings.“We are pleased with our solid second quarter results and our overall performance in the first half of the year, reflecting strong year-on-year growth ...

Google parent Alphabet is in advanced talks to buy cybersecurity startup Wiz for roughly $23 billion, according to a report by The Wall Street Journal Monday. If a deal is struck, it would mark the largest acquisition ever for the tech giant. The move comes as Alphabet and other tech firms are under immense antitrust scrutiny. An acquisition could also help the search giant’s efforts in cloud computing, a important growth driver for the business. 3 Google is nearing a deal to acquire cybersecurity startup ...

Core Point - A New York federal judge has ordered Amazon to comply with a subpoena from the EEOC regarding claims of discrimination against pregnant warehouse workers [1][3]. Group 1: Legal Proceedings - U.S. District Judge Lorna Schofield rejected Amazon's claims that the EEOC subpoena was overly broad and sought irrelevant information [1][3]. - The EEOC is investigating complaints from five women alleging pregnancy discrimination at Amazon warehouses located in New Jersey, Connecticut, North Carolina, and California [1][3]. Group 2: Company Response - Amazon has provided approximately 370,000 pages of data to the EEOC but not in the specific format requested [3]. - An Amazon spokesperson stated that the company has cooperated with the investigation for three years and disagreed with the EEOC's characterization of its conduct [2][3]. Group 3: Regulatory Context - In 2022, a New York state agency filed a complaint against Amazon for allegedly requiring pregnant and disabled workers to take unpaid leaves instead of providing necessary accommodations [3][4]. - A law passed later in 2022 mandates that employers must accommodate workers' pregnancies, regardless of how they treat employees with disabilities [4].

Economic Outlook - JPMorgan Chase CEO Jamie Dimon warned that inflation and interest rates may remain elevated for longer than anticipated due to various inflationary pressures, including large fiscal deficits and global geopolitical tensions [1] - The consumer price index showed a 0.1% decrease month-over-month and a 3% increase year-over-year, marking the slowest annual rate in three years [2] - Federal Reserve Chair Jerome Powell indicated that rate cuts will depend on economic readiness, despite the upcoming presidential election [2] JPMorgan Chase Performance - JPMorgan reported adjusted earnings per share of $4.26, exceeding analysts' expectations of $4.19, with revenue increasing by 20% to $50.99 billion, surpassing expectations of $49.87 billion [3] - The bank generated $2.3 billion in investment banking fees, contributing to its strong quarterly results [3] - Despite positive results, Dimon expressed concerns about socioeconomic risks and the complex geopolitical situation [3] Wells Fargo Performance - Wells Fargo reported adjusted earnings per share of $1.33, above expectations of $1.29, with revenue of $20.69 billion, exceeding analysts' expectations of $20.29 billion [4] - The bank experienced growth in fee-based revenue, which offset a decline in net interest income [4] - Shares of Wells Fargo fell nearly 7% in early trading despite the positive earnings report [4] Citigroup Performance - Citigroup's adjusted earnings per share were $1.52, surpassing expectations of $1.39, with revenue of $20.14 billion, exceeding expectations of $20.07 billion [5] - The bank's equities trading revenue increased by 37% to $1.5 billion, and investment banking revenue surged by 60% to $853 million [5] - Citigroup's shares fell 2% in early trading, although they are up 20% year-to-date [6]

AT&T revealed Friday that a cyberattack breached the data of “nearly all” of its cellular customers and downloaded it to a third-party cloud platform.The telecom giant has “taken steps” to close off the illegal access point and is working with law enforcement to track down the hackers. At least one person has already been apprehended, AT&T said. “At this time, we do not believe that the data is publicly available,” AT&T said in a statement.The company first learned in April that a cyberattack breached the d ...

Pfizer plans to move a reworked, once-a-day version of its weight-loss pill danuglipron into clinical trials later this year, the company said on Thursday, after scrapping a twice-daily version of the drug late last year.The new drug is part of the second generation of weight-loss pills under development by companies including Eli Lillyand Novo Nordisk that will offer patients a more convenient alternative to injections.Some analysts expect the weight-loss drug market, currently dominated by Novo Nordisk’s ...

The race at JPMorgan to replace CEO Jamie Dimon is on full throttle – even if the mega-bank is doing a great job keeping a lid on the contretemps from leaking to the press. The legendary financier recently shocked the banking world when he said he would step down sooner than his original time frame of five years – maybe two or three years when he’s 70 years of age or so.I say “shocked” because Dimon is still at the top of his game, keeping JPMorgan largely scandal-free and holding the distinction as maybe t ...

Apple will open its tap-and-go mobile payments system to rivals, EU antitrust regulator said on Thursday, even as its chief Margrethe Vestager said the iPhone maker has yet to change its business practices to comply with landmark tech rules.The company faces three investigations under the Digital Markets Act, which requires Big Tech to ensure a level playing field for rivals and give users more choice.Vestager last month said its App Store rules breached the DMA and also kicked off a probe into new contract ...

Tesla is delaying the launch of Robotaxi to October from August, Bloomberg News reported Thursday, citing people familiar with the decision.The Elon Musk-led automaker’s shares fell more than 5% on the news.Shares of Elon Musk’s Tesla fell more than 5% on Thursday. SYSPEO/SIPA/ShutterstockTo combat a slowdown in EV sales, the company has shifted focus over the past few months to its artificial-intelligence efforts such as its Robotaxi and Optimus humanoid robot. REUTERSTo combat a slowdown in EV sales, whic ...

Protesters who have been blockading the entrance of Citigroup’s New York City headquarters for more than a month claim they were shoved by one of the banking giant’s top lawyers in a violent scuffle caught on video — but the bank denies any wrongdoing by any of its employees.Shocking footage of the incident obtained by The Post, which has also been circulating in edited form on Instagram, shows a man in a blue, button-down dress shirt and jeans pushing against a line of protesters who are holding what looks ...