By Stephen Nellis (Reuters) – Nvidia Corp, a major supplier of chips and computing systems for artificial intelligence, on Tuesday released a set of software tools aimed at helping chatbots watch their language. Nvidia’s chips have helped companies like Microsoft Corp add human-like chat features to search engines like Bing. But the chatbots can still…
By Luc Cohen NEW YORK (Reuters) – A New York lawyer pleaded guilty on Tuesday to making $3.8 million in payments to maintain properties that were beneficially owned by Viktor Vekselberg, a Russian billionaire oligarch under U.S. sanctions, court records showed. Robert Wise admitted to receiving wire payments from a shell company controlled by a…
NEW YORK (Reuters) – Short interest in shares of beleaguered First Republic Bank rose by $389.8 million to $945.5 million in the past 30 days, and the bearish positions turned profitable for the month as its shares skidded on Tuesday, data from S3 Partners showed. Shares of First Republic plunged 43% to a record low…
By Hilary Russ and Deborah Mary Sophia (Reuters) -McDonald’s Corp beat Wall Street expectations for quarterly global comparable sales and profit on Tuesday, as more customers visited in every market and from all income groups amid the threat of a recession. Also helped by higher prices for burgers and fries, global comparable sales climbed 12.6%,…
By Sarah N. Lynch and Doina Chiacu WASHINGTON (Reuters) -British American Tobacco Plc has agreed to pay more than $635 million to U.S. authorities after a subsidiary pleaded guilty to charges that it conspired to violate U.S. sanctions by selling tobacco products to North Korea and commit bank fraud, a U.S. court filing and the…
By David Shepardson WASHINGTON (Reuters) -General Motors Co said on Tuesday it will end production of its Chevrolet Bolt electric vehicle later this year as its shifts zero-emission production to trucks and SUVs built on a new battery platform. “We have progressed so far that it’s now time to plan to end the Chevrolet Bolt…
By David Shepardson WASHINGTON (Reuters) – A group of nine Republican senators on Tuesday urged the Biden administration to impose sanctions on Huawei Cloud and other Chinese cloud service providers, citing national security concerns, according to a letter seen by Reuters. The previously unreported letter led by Senator Bill Hagerty to the Commerce, State and…
By Sriparna Roy and Bhanvi Satija (Reuters) – Biogen Inc said on Tuesday it will pause or discontinue at least four studies of experimental drugs to focus on more potentially lucrative options including its second Alzheimer’s treatment, Leqembi, in the latest attempt by the new CEO to trim costs. “We made good progress on the…
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government’s debt ceiling – and the resulting default – would trigger an “economic catastrophe” that would send interest rates higher for years to come. Yellen, in remarks prepared for a Washington event with business…
By Tatiana Bautzer NEW YORK (Reuters) -Citigroup Inc’s chairman John Dugan defended the company’s efforts to fix its regulatory problems and bolster its stock at the bank’s annual meeting on Tuesday. “We completely understand” shareholders’ frustration with the share price, he said, after fielding several questions from shareholders on the topic. Investor dissatisfaction is likely…
