By Akash Sriram and Samrhitha A (Reuters) – Nvidia Corp briefly joined an elite club of U.S. companies sporting a $1 trillion market value on Tuesday, as investors piled into the chipmaker that has quickly become one of the biggest winners of the AI boom. The stock’s value has tripled in less than eight months,…
By Kanishka Singh WASHINGTON (Reuters) -The U.S. Congressional Budget Office said on Tuesday its budget deficit projections would be reduced by about $1.5 trillion over the next 10 years if the debt ceiling bill now up for a vote in Congress were enacted in its present form. The projection comes following the debt ceiling deal…
By Anthony Boadle and Leonardo Benassatto BRASILIA/SAO PAULO (Reuters) – Brazil’s lower house of Congress approved on Tuesday night a bill to limit the recognition of new Indigenous reservations, a decision seen by environmentalists and human rights advocates as a setback after intense pressure from the farm lobby. The approval, by 283 votes to 155,…
By Mike Scarcella (Reuters) – Cox Media Group LLC, Fox Corp and CBS Corp have agreed to pay a combined $48 million to resolve civil antitrust claims in U.S. Court that accuse them of a conspiracy to artificially fix the prices of spot advertising on broadcast television. Cox has agreed to pay $37 million to…
(Reuters) – A Fidelity fund has marked down the value of its stake in Twitter for the third time since Elon Musk’s $44 billion takeover of the social media platform in October, a monthly disclosure by the investment firm showed on Sunday. Fidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s…
By Jason Xue and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – The last great hope for China’s faltering post-pandemic rally is fading as the nation’s legion of small-time investors turns bearish on equities to double down instead on safer assets amid a stuttering economic recovery. Brokers and money managers had expected billions of yuan in excess savings…
By Lisandra Paraguassu and Anthony Boadle BRASILIA (Reuters) – Divergent views on Venezuela surfaced during a South American leaders’ summit on Tuesday hosted by Brazil’s President Luiz Inacio Lula da Silva as part of his efforts to unite the region’s development and give it a stronger voice internationally. Lula urged South America’s 12 countries to…
SEOUL (Reuters) – South Korea’s factory production and retail sales dropped in April, official data showed on Wednesday, indicating another tough quarter ahead after the economy narrowly averted a recession in the first quarter. The country’s factory output in April fell 1.2% from March, on a seasonally adjusted basis, coming in slightly softer than a…
By David Shepardson WASHINGTON (Reuters) – The U.S. government is closely scrutinizing exports to China and last year denied or took no action on a quarter of requests in order to stop sales that would advance Beijing’s militarization, a senior official said in testimony released on Tuesday. In 2022, 5,064 export and re-export license applications…
(Reuters) – Bank of Queensland Ltd said on Wednesday it had entered into separate undertakings with the country’s financial crime and prudential regulators to comply with anti-money laundering and counter-terrorism financing laws and address risk governance practices. The court-enforceable undertaking accepted by the Australian Prudential Regulation Authority (APRA) follows several breaches of prudential standards in…
