(Reuters) – Oracle shares fell 9% in premarket trading on Tuesday as another quarter of below-expectations cloud sales and a bleak forecast amplified concerns over the pace of growth at the business expected to benefit from a boom in generative AI. Revenue growth at the firm’s cloud infrastructure unit, which competes with industry heavyweights Amazon…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended in positive territory and gold slid on Monday, as investors looked ahead to crucial inflation data and the U.S. Federal Reserve’s two-day monetary policy meeting. In a busy week for central banks, the yen weakened for a second straight day as expectations faded for the…
By Abigail Summerville (Reuters) -An investor group consisting of Arkhouse Management and Brigade Capital has made a $5.8 billion offer to take department store chain Macy’s private, according to a person familiar with the matter on Sunday. Arkhouse Management, a real-estate focused investing firm, and Brigade Capital Management, a global asset manager, submitted a proposal…
By Sabrina Valle, Sourasis Bose and Arathy Somasekhar HOUSTON (Reuters) -Occidental Petroleum on Monday agreed to buy closely-held U.S. shale oil producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding its presence in the largest U.S. shale oilfield. The deal comes amid a new wave of shale consolidation underpinned by Exxon…
By Phil Stewart and Idrees Ali WASHINGTON (Reuters) – Ukrainian President Volodymyr Zelenskiy told a U.S. military audience on Monday that he hoped he can still count on the United States and urged Congress not play into Russian President Vladimir Putin’s hands, as he started a critical visit to Washington to shore up security assistance….
By David Shepardson WASHINGTON (Reuters) – Microsoft and the AFL-CIO union federation said Monday they had struck a deal whereby the U.S. software giant will remain neutral in efforts by unions to encourage workers to become members. The two sides will also work together on the future of artificial intelligence, in a first-of-its-kind partnership on…
WASHINGTON (Reuters) -U.S. President Joe Biden has invited Ukraine President Volodymyr Zelenskiy to a meeting at the White House on Tuesday to discuss the ongoing war against Russia and the “vital importance” of continued U.S. support of their defense efforts. The White House in a statement on Sunday said the two will discuss the “urgent…
By David Stanway, Gloria Dickie and Kate Abnett DUBAI (Reuters) -The president of the COP28 climate summit on Sunday urged negotiators to work harder to find consensus on a proposed first-of-its-kind deal to phase out the world’s use of fossil fuels, as the two-week conference entered its final stage. The talks in Dubai have highlighted…
STOCKHOLM/LONDON/BRUSSELS (Reuters) -European Union policymakers on Friday agreed a provisional deal on landmark rules governing the use of artificial intelligence (AI). They include the use by governments of AI in biometric surveillance and how to regulate AI systems such as ChatGPT. Here is some reaction to the deal: Svenja Hahn, German MEP and shadow rapporteur…
KYIV (Reuters) – Ukraine on Saturday strongly condemned Russian plans to hold presidential elections next spring on occupied territory, declaring them “null and void” and pledging to prosecute any observers sent to monitor them. Russia’s upper house set the country’s presidential election this week for next March, and chairwoman Valentina Matviyenko said residents in four…