By Greg Bensinger and Diane Bartz SAN FRANCISCO/WASHINGTON (Reuters) -The leaders of Microsoft and Activision Blizzard on Wednesday sought to allay antitrust concerns that a proposed $69 billion merger of the two companies would unlawfully concentrate power, with Microsoft CEO Satya Nadella saying that making Activision games exclusive would make “no strategic sense.” The Federal…
WASHINGTON (Reuters) – General Sergei Surovikin, the deputy commander of Russia’s military operations in Ukraine, was sympathetic to mercenary chief Yevgeny Prigozhin’s weekend rebellion, U.S. officials said on Wednesday, though it was unclear if he actively supported it. Prigozhin startled the world by leading an armed revolt on Saturday that brought his Wagner Group fighters…
By Akash Sriram (Reuters) -Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2% in trading after the bell. They have gained 34%…
(Reuters) – Ukrainian forces are advancing “slowly but surely” on the front lines in the east and southeast of the country as well as around the longstanding flashpoint of Bakhmut, senior military officials said on Wednesday. Since launching an anticipated counter-offensive this month, nearly 16 months into the war, Ukraine says it has reasserted control…
By Kylie Madry MEXICO CITY (Reuters) – Mexico’s two-year-old air safety rating downgrade by U.S. authorities has caused a more-than-billion-dollar hit to national airlines, an industry head said in an interview Wednesday. “It was a huge loss,” said Diana Olivares, head of Mexico’s air transportation chamber and LATAM Airlines’ country manager. Mexico was downgraded to…
By Michelle Price WASHINGTON (Reuters) – Big U.S. banks’ commercial real estate portfolios put in a surprisingly good performance during the Federal Reserve’s annual health checks, with losses declining slightly on last year, the central bank said on Wednesday. With risks growing in the commercial real estate (CRE) sector globally, analysts and investors were looking…
(Reuters) – BlackBerry posted a surprise profit for the first quarter on Wednesday as its cybersecurity business benefited from higher client spending, while its enterprise software continued to gain traction in automotive sector. U.S.-listed shares of the company rose 5.79% in extended trading. The Canadian technology company is banking on resilient demand for its cybersecurity…
By Jose Luis Gonzalez and Steve Gorman TRUTH OR CONSEQUENCES, New Mexico (Reuters) – A three-man crew from Italy is set on Thursday to board a passenger rocket plane operated by Virgin Galactic, the venture British billionaire Richard Branson founded in 2004, for the company’s first commercial flight to the edge of space. The two…
By Pete Schroeder WASHINGTON (Reuters) – Big U.S. banks sailed through the Federal Reserve’s annual health check on Wednesday, in a vote of confidence for a sector still recovering from turmoil earlier this year and facing an uncertain economic outlook. The Fed’s “stress test” exercise showed lenders, including JPMorgan Chase, Bank of America, Citigroup, Wells…
By Jack Queen (Reuters) – The Canadian Broadcasting Corporation (CBC) must face a defamation lawsuit by a U.S. charity alleging the publicly funded news outlet repeatedly aired false claims that it deceived its donors, a Washington, D.C., federal judge has ruled. U.S. District Judge Randolph D. Moss on Tuesday rejected the CBC’s bid to dismiss…
