(Reuters) – A new 300-megawatt (MW) Con Edison Rainey-to-Corona transmission line, which can power 240,000 average-sized homes in New York City’s Queens borough, has been energized, New York Governor Kathy Hochul said on Wednesday. The six-mile-long (10 km-long) line is part of the Reliable Clean City projects that will add 900 MW of transmission capacity…
By Stephen Nellis, Josh Ye and Jane Lanhee Lee (Reuters) -U.S. microchip export controls imposed last year to freeze China’s development of supercomputers used to develop nuclear weapons and artificial-intelligence systems like ChatGPT are having only minimal effects on China’s tech sector. The rules restricted shipments of Nvidia Corp and Advanced Micro Devices Inc chips…
(Reuters) – TikTok said on Wednesday it is launching a product that well let advertisers place ads alongside content produced by premium publishers, half of the ad revenue from which will be shared with those publishers. The social media platform said brands including Buzzfeed, DotDash Meredith, NBCUniversal, UFC and WWE will be the first to…
By Granth Vanaik (Reuters) – Etsy Inc on Wednesday beat market expectations for quarterly revenue, benefiting from demand for products such as personalized gifts offered on its e-commerce platform as well as higher transaction fees, sending the company’s shares up about 2% in extended trading. Etsy – a marketplace for sellers of vintage or handcrafted…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The Fed on Wednesday delivered what markets are convinced will be the last rate hike of the cycle, bond yields and the dollar fell, yet investors are rattled. Asian markets wake up on Thursday to the realization that…
(Reuters) -Homecare services provider Option Care Health Inc said on Wednesday it is acquiring Amedisys Inc in an all-stock deal valued at $3.6 billion, including debt. The deal will enable Option Care, an infusion service provider at home or alternate sites, to expand its services. Option Care valued Amedisys at $97.38 per share, a nearly…
(Reuters) -Agricultural chemical and seed company Corteva Inc on Wednesday raised its full-year forecast after it beat quarterly profit estimates aided by higher prices and strong demand for seeds, sending its shares up 2% in extended trade. Prices of crops have scaled back after rising to record highs as Russia’s invasion of Ukraine last year…
By Luc Cohen NEW YORK (Reuters) – A former product manager at OpenSea, the world’s largest marketplace for non-fungible tokens (NFTs), was convicted on Wednesday of fraud and money laundering for using inside knowledge of which assets would be featured on its home page to trade NFTs. Nathaniel Chastain was accused of buying NFTs he…
By Jack Queen (Reuters) -Donald Trump denied raping writer E. Jean Carroll in a deposition video played on Wednesday for a Manhattan federal jury, as the former U.S. president sought to defend himself in a civil trial without testifying in person. Trump, front-runner for the 2024 Republican presidential nomination, said in the October 2022 deposition…
By David Shepardson and Joseph White WASHINGTON (Reuters) -Ford CEO Jim Farley said on Wednesday that price cuts in the electric vehicle market were “a worrying trend” after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla. Ford on Tuesday announced a price cut of…
