By Davide Barbuscia and Lewis Krauskopf (Reuters) – Investors hoping for imminent rate cuts by the Federal Reserve received a sobering reminder of the U.S. central bank’s focus on fighting inflation, after Chairman Jerome Powell poured cold water on bets policymakers would lower borrowing costs in March. At the end of the central bank’s first…
By Jeffrey Dastin and Akash Sriram (Reuters) -Alphabet disappointed Wall Street on Tuesday as holiday-season advertising sales came in below expectations and the company said its spending on items such as servers to power artificial intelligence would jump this year. Alphabet shares fell 6% in after-hours trade. Against a backdrop of mixed U.S. economic signals,…
By Ron Bousso LONDON (Reuters) -Shell reported a $28 billion profit for 2023 on Thursday after beating fourth quarter earnings forecasts on strong liquefied natural gas (LNG) trading, allowing the oil giant to increase its dividend and extend share repurchases. Annual profit was down 30% from the previous year’s record, marked by lower chemicals and…
By Katie Paul, Stephen Nellis and Max A. Cherney (Reuters) – Facebook owner Meta Platforms plans to deploy into its data centers this year a new version of a custom chip aimed at supporting its artificial intelligence (AI) push, according to an internal company document seen by Reuters on Thursday. The chip, a second generation…
(This Jan. 26 story has been corrected to fix the release date of Meta Platforms earnings results in paragraph 3.) By David Randall NEW YORK (Reuters) – The U.S. stock market’s strong start to the year faces a major test next week in a stretch packed with big tech earnings, the Federal Reserve’s monetary policy…
(Reuters) – A Delaware judge has tossed out Elon Musk’s record-breaking $56 billion Tesla pay package, calling the compensation granted by the EV maker’s board “an unfathomable sum” that was unfair to shareholders. Following are details about Musk’s pay package. HOW WAS MUSK’S COMPENSATION STRUCTURED? Musk’s 2018 compensation package created 12 tranches of options –…
By Jeffrey Dastin and Samrhitha A (Reuters) -Tech giants on Tuesday talked up how customers are lapping up their generative AI-powered products, but mounting costs of developing the cutting-edge features irked investors hoping for a big boost to sales from the new technology. Shares of Alphabet closed 7.5% lower, while those of Microsoft fell 2.7%,…
By Jonathan Stempel NEW YORK (Reuters) – Boeing has been sued by shareholders who said the company prioritized profit over safety and misled them about its commitment to making safe aircraft, prior to the Jan. 5 mid-air cabin panel blowout on an Alaskan Airlines 737 MAX 9. According to a proposed class action filed on…
NEW YORK (Reuters) -The Federal Reserve left interest rates unchanged on Wednesday but took a major step towards lowering them in coming months in a policy statement that tempered inflation concerns with other risks to the economy and dropped a longstanding reference to possible further hikes in borrowing costs. MARKET REACTION: STOCKS: The S&P 500…
By Raneen Sawafta, Fadi Shana and Nidal al-Mughrabi WEST BANK/GAZA/DOHA (Reuters) -Hamas said on Tuesday it had received and was studying a new proposal for a ceasefire and release of hostages in Gaza, presented by mediators after talks with Israel, in what appeared to be the most serious peace initiative for months. A senior Hamas…
