(Reuters) -Chipmaker Micron Technology’s shares jumped 7% on Thursday after it predicted a strong recovery in the supply-demand balance for memory and flash storage in 2024. The company’s quarterly results on Wednesday exceeded market expectations and it forecast a strong February quarter in a clear sign that memory chip prices will improve next year to…
(Reuters) -CarMax on Thursday posted a more than two-fold rise in quarterly profit to beat analyst estimates after cost cuts helped it offset lower demand for used vehicles, sending the pre-owned car retailer’s shares up 7%. Used-vehicle demand, which rose during the pandemic, fell significantly over the past few quarters after consumers were faced with…
By Anton Bridge TOKYO (Reuters) -Toyota Motor shares slumped on Thursday as Japan’s transport ministry inspected a subsidiary over safety concerns dating back decades and as the world’s top-selling automaker separately announced a recall of 1.1 million vehicles. Shares in Japan’s biggest automaker closed down 4.0%, underperforming the benchmark Nikkei average, which fell 1.6%. A…
By Andrea Shalal WASHINGTON (Reuters) – Brian Deese, a key player in President Joe Biden’s 2024 re-election bid, said on Wednesday that Nippon Steel’s proposed purchase of U.S. Steel was concerning and that the administration should look closely at it. Several Democratic and Republican U.S. senators have criticized the deal this week, citing national security…
By Jonathan Saul, Helen Reid and Corina Pons LONDON/MADRID (Reuters) -Exporters are scrambling to find alternative air, land and ocean routes to get toys, apparel, tea and auto parts to retailers as disarray ripples through freight supply chains around the world during a wave of attacks in the Red Sea. Iran-backed Houthi militants in Yemen…
