By Noel Randewich SAN FRANCISCO (Reuters) -Intel Corp co-founder Gordon Moore, a pioneer in the semiconductor industry whose “Moore’s Law” predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel and Moore’s family philanthropic foundation said he died surrounded by family at his home in…
(Reuters) -Microsoft Corp has threatened to cut off access to its internet-search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence chat products, Bloomberg News reported on Friday. The company has told at least two customers that using its Bing search…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed higher on Friday, marking the end of a tumultuous week as Federal Reserve officials calmed investor fears over a potential liquidity crisis in the banking sector. While all three major U.S. stock indexes started the session sharply lower on the heels of a sell-off among…
By Lewis Krauskopf NEW YORK (Reuters) – Investors are relying on an old strategy to navigate the current tumult in asset prices: buying shares of the massive U.S. companies that led markets higher for years. Shares of the top five companies by market value — Apple, Microsoft, Alphabet, Amazon and Nvidia — have gained between…
By Mike Scarcella (Reuters) – A federal judge on Friday set a fast-paced schedule in the U.S. Justice Department’s antitrust lawsuit challenging Google LLC’s digital advertising technology practices, moving the case along more quickly than either side had proposed. U.S. Magistrate Judge John Anderson in Alexandria, Virginia, after a brief hearing issued an order setting…
By Ann Saphir (Reuters) – Responsibility for the Federal Reserve’s oversight of large financial institutions like the failed Silicon Valley Bank rests with staff in Washington and not with any regional Fed bank chief, a former chair of the San Francisco Fed bank said on Friday. “The regulatory regime at the Reserve Bank is that…
By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Friday dismissed a former Barclays Plc trader’s whistleblower lawsuit accusing the British bank of firing him after he complained it ignored basic risk management and violated its own policies for detecting rogue trading. U.S. District Judge Paul Oetken in Manhattan said Brian La Belle, who…
(Reuters) – Bank of America Corp is redeploying employees in wealth management and lending to other roles within the company, a source familiar with the matter said on Friday, as higher interest rates continue to weigh on the businesses. Less than 200 employees are being moved to product specialist positions within the company’s global operations…
By Hannah Lang WASHINGTON (Reuters) – The euro and sterling fell sharply against a strengthening dollar on Friday amid lingering nervousness over banks. Banking stocks plunged in Europe with heavyweights Deutsche Bank and UBS Group pummelled by worries that the worst problems to hit the sector since the 2008 financial crisis have not yet been…
By Saeed Azhar and Matt Tracy NEW YORK (Reuters) – Small U.S. lenders that have outsized exposure to office loans could become the next group to face strains after bank failures roiled financial markets this month, according to analysts. Rising interest rates, a slowdown in the commercial real estate (CRE) market and the proliferation of…
