By Yuvraj Malik (Reuters) -Ride-hailing company Lyft projected higher-than-expected gross bookings and core profit for the current quarter on Tuesday, driven by robust demand for its services and benefits from new user and driver features. It also reported first-quarter revenue and profit above expectations, sending its share up 5% in extended trading. Lyft has been…
By Akash Sriram and Abhirup Roy (Reuters) -Electric-pickup maker Rivian on Tuesday stuck to a 2024 production forecast well below Wall Street targets and reported a wider-than-expected first-quarter loss as it ended a weeks-long manufacturing halt. Rivian shares fell 6% in after-hours trading as the muted forecast drew questions from some analysts about demand for…
By Hadeel Al Sayegh DUBAI (Reuters) -Saudi Arabia’s state oil giant Aramco expects to pay $31 billion in dividends to the Saudi government and its shareholders despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil prices and volumes sold. The Saudi government, which directly holds about 82.2% of Aramco, relies…
(Reuters) – Apple is developing its own chip to run artificial intelligence software in data centers, the Wall Street Journal reported on Monday, citing people familiar with the matter. The project, internally codenamed as Project ACDC (Apple Chips in Data Center), aims to leverage Apple’s chip design expertise for its server infrastructure, the report said….
By Anirban Sen and Dawn Chmielewski NEW YORK (Reuters) – Walt Disney and Comcast are seeking to hire a financial adviser to resolve a dispute over how to value the 33% stake in streaming platform Hulu that the former will acquire from the latter, according to people familiar with the matter. The move is in…
(Reuters) – United Parcel Service said on Monday that its CFO and Executive Vice President Brian Newman would leave the company on June 1. UPS will evaluate internal and external candidates to replace Newman, the firm said. “My near-term priority is to focus on my health,” Newman said in a statement. The largest parcel delivery…
By Nell Mackenzie LONDON (Reuters) – Investors withdrew an estimated net $9.9 billion from hedge funds in March, up from $780 million in February and the 22nd consecutive month where industry outflows totalled more than inflows, a report from Nasdaq eVestment said on Monday. While the scale of the March outflows was not historically high,…
By Guy Faulconbridge MOSCOW (Reuters) -Russia said on Monday it would practise the deployment of tactical nuclear weapons as part of a military exercise after what the Moscow said were threats from France, Britain and the United States. Since Russia invaded Ukraine in 2022, Russia has repeatedly warned of rising nuclear risks – warnings which…
By Michel Rose and Noemie Olive PARIS (Reuters) -President Xi Jinping lauded China’s ties with France as an international model on Sunday as he arrived in Paris for a rare visit against a backdrop of mounting trade disputes with the EU. French President Emmanuel Macron is set to urge Xi to reduce trade imbalances and…
(Reuters) -Warren Buffett took the stage at Berkshire Hathaway’s annual meeting on Saturday, paying tribute to his longtime business partner Charlie Munger, outlining the expanded roles of the executives who are designated to eventually succeed him and discussing Berkshire’s opportunities. Greg Abel, 61, designated Buffett’s successor as chief executive in 2021, sat on stage with…
