By Chavi Mehta (Reuters) -Analog chipmaker Texas Instruments forecast third-quarter revenue and profit below Wall Street targets on Tuesday, bogged down by sluggish recovery in end-market demand that has forced clients to cancel orders. Wobbly China recovery after the country put an end to its “zero-COVID” policy has also prevented demand from rebounding quickly. “China…
(Reuters) – Wells Fargo said on Tuesday its board had authorized a new share buyback program of up to $30 billion. The bank’s shares rose 1% in extended trading after earlier jumping almost 4% after the announcement. Wells Fargo announced the buybacks days after it reported a 57% jump in profit in the second quarter,…
By Supantha Mukherjee, Martin Coulter and Sheila Dang (Reuters) -After 17 years with an iconic blue bird that came to symbolize the broadcasting of ideas to the world, billionaire Elon Musk renamed Twitter as X and unveiled a new logo, marking a focus on building an “everything app.” On Monday, a stylized white X on…
By Valerie Insinna WASHINGTON (Reuters) -RTX Corp will need up to 60 days to inspect and fix each GTF engine used on Airbus jets that were found to have a new problem involving contaminated powder metal, CEO Greg Hayes said in an interview on Tuesday. At least 1,200 of the Pratt & Whitney GTF engines…
By Luc Cohen NEW YORK (Reuters) – The sole person convicted at trial of defrauding donors to an online campaign to build Donald Trump’s signature wall along the U.S.-Mexico border was sentenced on Tuesday to 5-1/4 years in prison. Timothy Shea’s sentence was the longest imposed over the “We Build the Wall” campaign, which federal…
(Reuters) – U.S. President Joe Biden on Tuesday nominated Harry Coker, who has served in leadership positions at the CIA and the National Security Agency, for the role of national cyber director, the White House said, after deciding against the acting boss. Earlier this month, a source told Reuters that Kemba Walden, who has been…
PARIS (Reuters) -France’s antitrust watchdog said on Tuesday it had issued a statement of objection against Apple, citing concerns the U.S. technology company could have breached regulations linked to the use of iPhone user data for advertising purposes. The watchdog is concerned Apple might “abuse its dominant position by implementing discriminatory, non-objective and non-transparent conditions…
By Foo Yun Chee BRUSSELS (Reuters) – Meta Platforms offered to curb the use of competitors’ advertising data for its Facebook Marketplace online classified service in an attempt to settle an EU antitrust investigation but regulators gave it the cold shoulder, people familiar with the matter said. Its offer also included limiting the use of…
By Matt Spetalnick, Steve Holland and Simon Lewis WASHINGTON (Reuters) – President Joe Biden is in a political bind as he crafts a U.S. response to Israeli Prime Minister Benjamin Netanyahu defiantly pushing through the first part of a divisive judicial overhaul. Despite Washington’s longtime status as Israel’s top ally and biggest weapons supplier, Biden…
SEOUL (Reuters) – South Korean consumers’ sentiment improved for a fifth consecutive month to a 15-month high in July, with their inflation expectations resuming a decline, a central bank survey showed on Wednesday. The consumer sentiment index rose to 103.2 in July, from 100.7 in June, and was the highest reading since April 2022, the…
