TOKYO (Reuters) -Shares of Japan’s Nintendo Co Ltd and SoftBank Group Corp and Sharp Corp fell steeply on Wednesday, after the companies jolted investors with disappointing results, emphasising the dim demand outlook for global tech firms. Shares of Nintendo dropped 6% after the maker of the Switch video game console reported lower sales and profit…
TOKYO (Reuters) – Shares of Japan’s Nintendo Co Ltd and SoftBank Group Corp fell sharply on Wednesday, a day after both unveiled earnings that fell short of expectations, as tech firms around the globe send a cautionary signal to investors. Shares of Nintendo were down 8.3% in early Tokyo trade, while SoftBank shares were down…
(Reuters) – Digital Currency Group (DCG) is selling shares in several of its cryptocurrency funds at a high discount, and has started offloading its holdings in investment vehicles run by subsidiary Grayscale, the Financial Times reported on Tuesday. Woes have piled up for SoftBank-backed DCG with its lending unit Genesis filing for bankruptcy protection, owing…
(Reuters) – Microsoft Corp on Tuesday unveiled a juiced-up version of its Bing search engine and Edge Web browser, powered by an upgraded version of ChatGPT’s underlying technology. The launch is limited to a “desktop limited preview” available on Tuesday. Users will need to go to this link and sign in to a Microsoft account…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Fed Chair Jerome Powell has spoken and luckily for bulls and bears, there was something for everyone, so where Asian markets go on Wednesday is something a coin flip. With an expected interest rate rise in India taking…
By Ankit Kumar (Reuters) -DuPont de Nemours Inc on Tuesday projected results to improve in the second half of the year from steadying consumer electronics demand, normalized inventory levels at customers and China’s reopening. Shares jumped 7% to $77.36 after the company also said it was in talks to settle a lawsuit over toxic “forever…
(Reuters) – Wells Fargo & Co agreed to pay $300 million to settle a shareholder lawsuit claiming the bank hid that it had pushed unnecessary insurance on auto loan customers, according to documents filed in U.S. court on Tuesday. The Construction Laborers Pension Trust for Southern California, which led the class action brought on behalf…
By Jeffrey Dastin REDMOND, Wash. (Reuters) – Microsoft Corp is revamping its Bing search engine and Edge web browser with artificial intelligence, the company said on Tuesday, in one of its biggest efforts yet to lead a new wave of technology and reshape how people gather information. Microsoft is staking its future on AI through…
(Reuters) -Zoom Video Communications will lay off 15% of its workforce, or about 1,300 jobs, Chief Executive Officer Eric Yuan said in blog post on Tuesday, sending the company’s shares up 7%. Yuan also said that he will take a salary cut of 98% for the coming fiscal year, foregoing his fiscal 2023 corporate bonus….
By Medha Singh (Reuters) -Retail investors are piling into small-cap firms that are into building artificial intelligence tools amid intensifying competition between Google-parent Alphabet and Microsoft to secure leadership in the next big driver of growth. The viral success of ChatGPT has turned the spotlight on AI on Wall Street, reminiscent of the blockchain hype…
