By Noel Randewich and Akash Sriram (Reuters) – Amazon’s stock rallied to its highest in more than two months on Friday after a research firm predicted the online heavyweight’s retail business in North America is set to beat Wall Street’s estimates. Amazon’s shares climbed 4% to $108, their highest since Feb. 3, giving the Seattle…
(Reuters) – BlackRock Inc Chief Executive Officer Larry Fink sold nearly 7% of his stake in the asset management giant, netting proceeds of about $25 million. The sale was disclosed in a filing with the U.S. Securities and Exchange Commission on Thursday. Last week, the New York-based company reported an 18% drop in its first-quarter…
By Joseph White DETROIT (Reuters) -United Auto Workers union President Shawn Fain said on Friday there is “no excuse” for Detroit’s automakers to set up electric vehicle operations and ventures that are not unionized. Fain also told the Detroit Automotive Press Association that Stellantis NV’s decision to idle an assembly plant in Belvidere, Illinois, is…
WASHINGTON (Reuters) – U.S. Homeland Security Secretary Alejandro Mayorkas said Friday that the agency would create a task force to figure out how to use artificial intelligence to do everything from protecting critical infrastructure to screening cargo to ferret out products made with slave labor. While artificial intelligence isn’t new, the sudden popularity of OpenAI’s…
By Hyunjoo Jin, Dan Levine and Abhirup Roy LOS ANGELES (Reuters) -A California state court jury on Friday handed Tesla Inc a sweeping win, finding that the car maker’s Autopilot feature did not fail to perform safely in what appears to be the first trial related to a crash involving the partially automated driving software….
By Arunima Kumar and Liz Hampton (Reuters) -Top oilfield firm SLB beat Wall Street estimates for first-quarter profit on Friday, as elevated crude prices and tight supplies increased demand for its services and equipment. Global oil prices averaged $81.24 a barrel in the January-March quarter, down nearly 20% from a year earlier but still well…
By Ankit Kumar (Reuters) -Freeport-McMoRan Inc’s first-quarter profit more than halved as the copper miner struggled with an industry-wide talent crunch and warned that tight labor market conditions would persist in the U.S. through the year. Its shares fell 5.6% to $39 on Friday after the company also cautioned that protests in Peru remain an…
By Gram Slattery and James Oliphant WASHINGTON (Reuters) -Florida Governor Ron DeSantis, who is expected to run for the 2024 Republican presidential nomination, is set to begin a trip abroad on Saturday taking him through Japan, South Korea, Israel and the United Kingdom. While the trip is officially billed as a trade mission, the tour…
By Kylie Madry MEXICO CITY (Reuters) – MG Motor is launching a plug-in hybrid SUV in Mexico, the carmaker said on Thursday, as the market for hybrid and electric vehicles in the Latin American country heats up despite a lack of infrastructure and high costs for locals. The hybrid eHS model is set to hit…
(Reuters) – The cost of insuring exposure to United States sovereign debt rose to the highest level since 2011 on Friday, over market jitters that the government could hit its debt ceiling sooner-than-expected. Spreads on U.S. five-year credit default swaps widened to 51 basis points, data from S&P Global Market Intelligence showed. This is more…
