By Chavi Mehta (Reuters) -Palantir Technologies said on Monday it expects to turn a profit every quarter in 2023, betting on interest “unlike anything we have seen” in its new artificial intelligence platform, sending its shares up about 20% in extended trading. The new generative AI platform was launched two weeks ago and works on…
By Shreyashi Sanyal, Shristi Achar A and Carolina Mandl (Reuters) – U.S. stocks paused on Monday after a strong rally in the prior session as investors shift focus to a key inflation reading later this week. For most of the day, stocks struggled for direction amid disappointing earnings from Tyson Foods and Catalent and a…
By David Shepardson and Nandita Bose WASHINGTON (Reuters) -U.S. President Joe Biden on Monday said his administration is writing new rules that will require airlines to compensate passengers with cash for significant flight delays or cancellations when the carriers are responsible. “Our top priority has been to get American air travelers a better deal,” Biden…
By Victoria Waldersee BERLIN (Reuters) – Chinese investment in Europe is shifting from mergers and acquisitions to greenfield projects mainly in battery production for electric vehicles, according to 2022 data analysed by independent research providers MERICS and Rhodium Group. Greenfield investment made up 57% of total foreign direct investment by China in Europe in 2022,…
By Brendan Pierson (Reuters) – A group of abortion providers on Monday filed a lawsuit aiming to preserve access to the abortion pill mifepristone as anti-abortion opponents aim to ban it in a separate case. The lawsuit, filed in federal court in Charlottesville, Virginia, is similar to one filed in Spokane, Washington by the Democratic…
(Reuters) – California’s financial regulator failed to press leadership at Silicon Valley Bank to address known problems quickly enough before the lender imploded in March, according to a report released Monday in which the agency pledged to do better in the future. The post-mortem by California’s Department of Financial Protection and Innovation (DFPI) follows a…
(Reuters) – International Flavors & Fragrances cut its annual sales forecast and reported a quarterly loss on Monday, compared with a year-ago profit, as soaring inflation raises its costs. The company, which supplies food and pharmacy solutions to manufacturers, has seen the cost of raw materials and energy jump, while soaring inflation has forced end-users…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – Treasury Secretary Janet Yellen said on Monday that a failure by Congress to raise the $31.4 trillion federal debt limit would cause a huge hit to the U.S. economy and weaken the dollar as the world’s reserve currency. Asked whether the U.S. Treasury could prioritize payouts…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Chinese trade and Japanese household spending data are on tap Tuesday, although Asian market sentiment looks set to be led once again by the ebb and flow of data and sentiment around U.S. banks, credit and loan demand….
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Chinese trade and Japanese household spending data are on tap Tuesday, although Asian market sentiment looks set to be led once again by the ebb and flow of data and sentiment around U.S. banks, credit and loan demand….
