(Reuters) – Oppenheimer Asset Management on Monday became the most bullish among global brokerages in its year-end target forecast for the benchmark S&P 500, citing resilient economic data and effective monetary policy. It lifted its target for the index to 5,500 from 5,200 and also raised its annual S&P 500 earnings-per-share forecast to $250 from…
By Foo Yun Chee and Supantha Mukherjee BRUSSELS/STOCKHOLM (Reuters) -Big Tech is facing its biggest challenge in decades as antitrust regulators on both sides of the Atlantic crack down on alleged anti-competitive practices that could result in break-up orders to Apple and Alphabet’s Google, a first for the industry. That in turn could inspire watchdogs…
(Reuters) -China has introduced guidelines to phase out U.S. microprocessors from Intel and AMD from government personal computers and servers, the Financial Times reported on Sunday. The procurement guidance also seeks to sideline Microsoft’s Windows operating system and foreign-made database software in favour of domestic options, the report said. Government agencies above the township level…
BEIJING (Reuters) -China will carefully study issues of market access and cross-border data flows and will soon issue new regulations in these areas, Premier Li Qiang told an audience of global CEOs and Chinese policymakers on Sunday. “We cordially welcome companies from all countries to invest in China and deepen their foothold in China,” Li…
By Richard Cowan, David Morgan and Makini Brice WASHINGTON (Reuters) – President Joe Biden on Saturday signed into law a $1.2 trillion spending package, keeping the U.S. government funded through a fiscal year that began six months ago. Biden described the package, which Congress overwhelmingly passed in the early hours of Saturday, as investing in…
WASHINGTON (Reuters) – President Joe Biden on Saturday signed into law a $1.2 trillion budget bill to keep the U.S. government funded through a fiscal year that began six months ago and to avert a partial shutdown, according to a statement released by the White House. “The bipartisan funding bill I just signed keeps the…
By Dawn Chmielewski (Reuters) – Walt Disney Co on Friday said that remarks by activist investor Nelson Peltz criticizing the company for making movies dominated by female and Black actors is evidence that he shouldn’t be on Disney’s board. Peltz, whose fight to join Disney as a director has become one of the year’s most…
By Mike Scarcella (Reuters) – The U.S. government’s antitrust lawsuit against Apple draws on the watershed 1998 case that broke Microsoft’s stranglehold on desktop software, but that may prove to be an imperfect blueprint for addressing smartphone competition. The market for the iPhone today looks very different from the near-monopoly enjoyed by Microsoft’s Windows operating…
By Jonathan Stempel (Reuters) -A divided U.S. appeals court said Meta Platforms must face a class action by advertisers that accused the Facebook and Instagram owner of overcharging them by fraudulently inflating the number of people their ads might reach. In a 2-1 decision on Thursday, the 9th U.S. Circuit Court of Appeals in San…
By Lisa Baertlein and Aishwarya Jain (Reuters) -FedEx narrowed its fiscal 2024 profit forecast on Thursday, raising the bottom end and lowering the top, as cost cuts take hold and share buybacks help offset less business from its largest customer, the U.S. Postal Service. Shares of the parcel delivery firm jumped 13% in extended trading…
