Apr 3 (Reuters) – Walt Disney shareholders have backed Chief Executive Bob Iger and other company directors, ending a multimillion-dollar mud-slinging battle launched by activist investors Trian Fund Management and Blackwells Capital. The vote to re-elect all 12 of Disney’s current board members, announced at the company’s annual shareholder meeting on Wednesday, defeated the campaign…
SEOUL (Reuters) – SK Hynix, the world’s second-largest memory chip maker, said on Wednesday it will invest around $3.87 billion to build an advanced packaging plant and research and development facility for AI products in the U.S. state of Indiana. The new plant will include an advanced chip production line to mass-produce next-generation high bandwidth…
(Reuters) -Bank of America (BofA) Global Research has raised its 2024 Brent and WTI oil price forecasts, citing escalating geopolitical tensions and the OPEC+ producer group maintaining supply curbs. The bank now expects Brent and WTI crude prices this year to average $86 and $81 per barrel respectively, with prices of both peaking around $95…
By Herbert Lash and Kevin Buckland NEW YORK/TOKYO (Reuters) – Gold prices hit fresh all-time peaks on Monday with stocks on Wall Street closing mixed as optimism that the Federal Reserve was near to cutting interest rates faded due to a strong U.S. economy that rebuts the need for cuts anytime soon. Chinese shares led…
By Shariq Khan and Laura Sanicola (Reuters) – Gasoline prices for U.S. motorists could jump by as much as 15 cents a gallon, with global fuel supplies tighter after Ukraine’s recent attacks on Russian refineries, Patrick De Haan, petroleum analyst at GasBuddy.com said on Monday. WHY IT’S IMPORTANT Rising gasoline prices could hinder the U.S….
(Reuters) – OpenAI will start allowing users to access its free-to-use ChatGPT generative AI chatbot without needing to sign up for the service beginning Monday, the Microsoft-backed startup said on Monday. ChatGPT, which kickstarted the GenAI boom in late 2022, can mimic human conversation and perform tasks such as creating summaries of long text, writing…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Cloud communications company Twilio has appointed a partner at Sachem Head Capital Management to its board, it said on Monday, as it faces pressure from several activist investment firms to make significant changes. Twilio added Andy Stafman and expanded the size of the board by one person to…
By Nidal al-Mughrabi CAIRO (Reuters) -Israeli strikes killed 77 Palestinians in Gaza in the past 24 hours, health authorities said on Sunday, as Egypt hosted an Israeli delegation for a new round of talks in a bid to secure a truce with Gaza’s Hamas rulers. The Israeli military said it killed a senior Islamic Jihad…
By David Randall NEW YORK (Reuters) -After a stellar start to the year for stocks, investors are on guard for potential bumps in the second quarter as they gauge whether the Federal Reserve delivers on an expected interest rate cut by June and turn their focus on the health of upcoming earnings. The S&P 500…
SHENZHEN, China (Reuters) – Chinese rocket maker Space Epoch is working with Alibaba’s online shopping platform Taobao to make reusable rockets for express deliveries that could arrive globally in an hour, Space Epoch announced on Sunday. The project is in early trial stages and aims to develop a rocket that can carry up to ten…
