Uber launches new rides to capitalize on Thanksgiving travel demand
(Reuters) – Uber Technologies launched “XXL” rides with extra trunk space on Wednesday, betting on…
Uber launches new rides to capitalize on Thanksgiving travel demand
(Reuters) – Uber Technologies launched “XXL” rides with extra trunk space on Wednesday, betting on increased demand stemming from Thanksgiving holiday travelers, as the ride-hailing company seeks to overcome a slowdown in its mainstay app-based taxi business. The Uber XXL service, catered toward airport travel, is available in more than 60 airports globally, including 40…
TJX raises annual profit forecast as off-price stores attract bargain hunters
(Reuters) -TJX Cos raised its annual profit forecast on Wednesday, benefiting from lower costs and strong demand from cash-strapped customers flocking to its off-price stores for products such as apparel and footwear. The TJ Maxx and Marshalls parent has hit the right spot as customers continue to hunt for value and better deals even as…
Chinese defense minister declines meeting with Pentagon chief
WASHINGTON (Reuters) – China’s defense minister declined a meeting with U.S. Defense Secretary Lloyd Austin during a meeting of defense leaders in Laos, a move the Pentagon chief said on Wednesday was unfortunate. Multilateral gatherings of national security officials in Asia have been used in the past for meetings between U.S. and Chinese defense leaders,…
Musk, Ramaswamy plan to lean on Supreme Court rulings to reduce federal agencies reach
(Reuters) – Elon Musk’s government efficiency panel said in a Wall Street Journal opinion story on Wednesday that they will apply recent Supreme Court rulings that can be used to take power away from federal agencies to reduce rules the panel finds unnecessary, costly and inefficient. Musk, the billionaire CEO of Tesla and SpaceX, and…
Trump administration plans to roll back Biden’s stricter fuel-efficiency standards
By David Shepardson and Rachael Levy WASHINGTON (Reuters) – President-elect Donald Trump’s incoming administration plans to target federal regulations championed by President Joe Biden that aim to make automobiles more fuel-efficient and incentivize a shift toward electric vehicles, according to two sources in contact with Trump’s transition team. The move appears aimed at satisfying a…
Nvidia’s Run:ai deal to get EU antitrust decision by Dec. 20
BRUSSELS (Reuters) – EU antitrust regulators will make a decision on U.S. chipmaker Nvidia’s proposed acquisition of Israeli AI startup Run:ai by Dec. 20, according to a European Commission filing. The EU antitrust watchdog warned last month that the deal threatens competition in the markets where the companies operate and ordered Nvidia to seek its…
Qualcomm expects $12 billion in revenue from autos, PC chips in five years
(Reuters) – Qualcomm expects $8 billion in automotive chip revenue and $4 billion in PC chip sales by fiscal 2029, it said at an investor event held in New York on Tuesday. San Diego, California-based Qualcomm is the world’s top supplier of mobile phone chips that connect handsets to mobile data networks. It makes money…
Dell, Iron Bow settle charges they overcharged the Army, DOJ says
WASHINGTON (Reuters) – Dell Technologies and Iron Bow Technologies have agreed to pay more than $2 million each to resolve allegations by the U.S. government they overcharged the Army on a computing contract, the Justice Department said on Tuesday. Dell has agreed to pay $2.3 million and Iron Bow has agreed to pay $2.05 million to…
Morgan Stanley raises base case 2025 yr-end S&P 500 target to 6,500
NEW YORK (Reuters) – Morgan Stanley has increased its 12-month base case price target on the S&P 500 to 6,500, the firm’s equity strategist Michael Wilson and other strategists wrote in a note on Monday. The benchmark index was last at 5,893. According to the note, the firm expects the recent broadening in U.S. earnings…
Nvidia results in focus as stock market’s election boost stalls
By Lewis Krauskopf NEW YORK (Reuters) – Nvidia Corp’s results in the coming week could guide the U.S. stock market on its next path, as investors turn their focus to the technology sector and artificial intelligence trade after an election-fueled rally stalled. A nearly 800% run in shares of Nvidia over the past two years,…
