BEIJING (Reuters) -China’s Foreign Minister Wang Yi said the “road to the San Francisco summit will not be a smooth one”, the foreign ministry said on Sunday, in a reference to an expected meeting between President Xi Jinping and U.S. President Joe Biden. Wang met Biden and his top aides in Washington in recent days,…
By Lewis Krauskopf NEW YORK (Reuters) -Investors are watching for signs that the conflict in the Middle East may be escalate over the weekend, potentially ratcheting up volatility as investors await a Federal Reserve meeting and key U.S. data in the week ahead. Prime Minister Benjamin Netanyahu said on Saturday that Israeli forces had unleashed…
By Alexandra Ulmer LAS VEGAS (Reuters) – Longshot U.S. Republican presidential candidate Vivek Ramaswamy confirmed to Reuters on Saturday that Tesla Inc Chief Executive Elon Musk attended a fundraiser for him in Northern California. “He showed up late at night and we had a conversation,” Ramaswamy said in an interview at the Republican Jewish Coalition’s…
By Arriana McLymore NEW YORK (Reuters) – Generative AI will be Amazon’s secret weapon this holiday season, leveraging data from its more than 160 million Prime subscribers to improve ad targeting and allowing merchants to produce promotions quickly. Apart from fast shipping and the usual discounts for Black Friday and Cyber Monday, the company is…
By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies. Brent futures rose $2.55, or 2.9%, to settle at $90.48 a barrel, while U.S. West Texas Intermediate (WTI)…
By Leroy Leo and Christy Santhosh (Reuters) -AbbVie, girding for government price negotiations on its big-selling cancer drug Imbruvica, on Friday disclosed a $2.1 billion charge related to an expected drop in revenue once the new price for U.S. Medicare patients goes into effect. The Illinois-based drugmaker’s leukemia pill in August was selected as one…
By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil Corp on Friday posted a sharply lower $9.1 billion third-quarter profit, missing analysts’ estimates for the second quarter in a row, and off 54% from a year ago. Earnings by the largest U.S. oil producer have benefited from higher crude oil prices compared to the previous quarter and…
By Lisa Baertlein (Reuters) – United Parcel Service on Thursday said it is spending more than $1 billion this quarter to buy two companies it hopes will bolster profit and volumes amid bare-knuckled market share battles with delivery rivals like FedEx. The world’s biggest parcel delivery firm on Wednesday announced an agreement to buy Happy…
By Tatiana Bautzer and Lananh Nguyen NEW YORK (Reuters) – Major Wall Street firms said a dismal year of dealmaking appears to have hit a trough, and now some companies are looking to merge, offering hope that investment banking revenues could pick up after a disappointing third quarter. Dealogic data showed that globally, investment banking…
By Aditya Soni (Reuters) -Amazon.com rose 7% on Friday on a pick up in growth at its most profitable cloud business as it aims for a larger share of the booming artificial intelligence market in a race with Microsoft. The e-commerce giant was on track to add almost $90 billion to its market capitalization based…
