(Reuters) -Rivian Automotive said on Thursday it has received $827 million in an incentive package from the State of Illinois to expand operations at its Normal facility. The Irvine, California-based company’s shares rose nearly 10% in afternoon trade after having lost more than 60% of their value this year, as of Wednesday’s close. The Illinois…
By Yuvraj Malik (Reuters) -Apple’s plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year. Long considered a must-own stock on Wall Street, Apple…
By Jonathan Landay and Daphne Psaledakis WASHINGTON (Reuters) -The United States on Wednesday accused Russia of violating the international chemical weapons ban by deploying the choking agent chloropicrin against Ukrainian troops and using riot control agents “as a method of warfare” in Ukraine. “The use of such chemicals is not an isolated incident and is…
By Bhanvi Satija and Patrick Wingrove (Reuters) -Pfizer lifted its annual earnings forecast on Wednesday and reported a first-quarter profit above Wall Street estimates, boosted by cost cutting efforts and stronger-than-expected sales of its COVID antiviral treatment. Sales of Padcev, a treatment for advanced bladder cancer Pfizer gained through its $43 billion deal for Seagen,…
By Mehnaz Yasmin (Reuters) -Mastercard reported first-quarter profit that exceeded Wall Street expectations on Wednesday, on higher card spending by consumers despite rising borrowing costs and persistent inflation. Wage growth and a tight labor market have ensured job security for card users, allowing them to spend without restraint even as the Federal Reserve keeps monetary…
By Jonathan Stempel and Blake Brittain (Reuters) -A federal appeals court on Tuesday overturned a judgment requiring IBM to pay rival BMC Software $1.6 billion, after a judge found IBM improperly replaced BMC’s mainframe software at AT&T with its own. The 5th U.S. Circuit Court of Appeals in New Orleans said a lower court judge’s…
By Akash Sriram and Stephen Nellis (Reuters) -Artificial intelligence server maker Super Micro Computer reported third-quarter revenue below estimates on Tuesday, hurt by a shortage of some crucial components and questions over the profitability of a new line of servers. Shares of Super Micro, which have more than tripled in value so far this year,…
By Divya Rajagopal TORONTO (Reuters) – North American graphite miners are lobbying the US government to impose a 25% tariff on three graphite products sourced from China in order to counter Beijing’s monopoly on a key material used in automobile batteries. If successful, the move will pit the miners against their main customers- the original…
By Summer Zhen and Samuel Shen HONG KONG (Reuters) -Six spot bitcoin and ether exchange traded funds (ETFs) gained in their Hong Kong debut on Tuesday, with the three bitcoin ETFs climbing more than 2% by midday, reflecting Asian investor enthusiasm for cryptocurrency assets. The debuts mark the first launch of spot cryptocurrency ETFs in…
By Jarrett Renshaw NEW YORK (Reuters) -U.S. President Joe Biden said on Friday that he would participate in a debate with Donald Trump, his Republican opponent in November’s election. “I am, somewhere. I don’t know when,” the Democratic president said in an interview with broadcaster Howard Stern. “I’m happy to debate him.” The remarks were…
