By Tatiana Bautzer NEW YORK (Reuters) – Wall Street bonuses fell 26% to an average $176,700 in 2022 from a record in 2021, according to a report from New York State Comptroller Thomas DiNapoli published on Thursday. A worsening economic environment and stalled deal markets weighed on banks’ profits last year, following a blockbuster 2021. […]

By Jyoti Narayan, Krystal Hu, Martin Coulter and Supantha Mukherjee (Reuters) -Elon Musk and a group of artificial intelligence experts and industry executives are calling for a six-month pause in developing systems more powerful than OpenAI’s newly launched GPT-4, in an open letter citing potential risks to society. Earlier this month, Microsoft-backed OpenAI unveiled the […]

By Josh Horwitz SHANGHAI (Reuters) – Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises. The U.S.-listed shares of the Chinese e-commerce conglomerate, which […]

(Reuters) – CVS Health Corp said on Monday it expects to complete its acquisition of healthcare services company Signify Health this week, subject to certain conditions, potentially ending months of antitrust scrutiny on the $8 billion deal. CVS’ potential acquisitions of two healthcare service providers Signify and Oak Street Health, along with other such deals, […]

LONDON (Reuters) – The cost of insuring against the likelihood of default by European banks rose sharply on Friday, as concern about the outlook for the sector continued to grip markets, almost a week on from the collapse of Credit Suisse. Deutsche Bank’s five-year credit default swaps (CDS) jumped 19 basis points (bps) from Thursday’s […]

By David Shepardson and Rami Ayyub WASHINGTON (Reuters) -U.S. lawmakers on Thursday battered TikTok’s CEO about potential Chinese influence over the platform and said its short videos were damaging children’s mental health, reflecting bipartisan concerns about the app’s power over Americans. CEO Shou Zi Chew’s testimony before Congress did little to assuage U.S. worries over […]

By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank is watching for signs of stress in the banking sector from the ongoing financial turmoil but a full-blown crisis is unlikely for now, the ECB’s top brass said on Wednesday. Investors are pondering whether the ECB will be able to continue raising rates […]

By John O’Donnell and Andres Gonzalez ZURICH (Reuters) – Days before a hastily convened press conference late on Sunday that would make the world’s front pages, Switzerland’s political elite were secretly preparing a move that would jolt the globe. While the nation’s central bank and financial regulator publicly declared that Credit Suisse was sound, behind […]