By Yuvraj Malik and Jaspreet Singh (Reuters) – Meta Platforms’ newest social media offering Threads has over 175 million monthly active users, CEO Mark Zuckerberg revealed on Wednesday, ahead of its first anniversary. A challenger to X, formerly known as Twitter, Threads hit app stores on July 5 last year, timed to win users from…
(Reuters) -AbbVie lowered its 2024 adjusted profit forecast on Wednesday, citing $937 million in milestones, and research and development expenses related to acquisitions. The drugmaker has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection last year. The company expects annual adjusted profit in the range of $10.61 to…
By Ankika Biswas, Lisa Pauline Mattackal and Saeed Azhar (Reuters) -The S&P 500 index and technology-laden Nasdaq rose on Wednesday to post record high closes, as data pointing to a softening economy raised hopes the Federal Reserve could cut interest rates in September. The Dow Jones Industrial Average closed slightly lower, pressured by selling in…
(Reuters) – Robinhood Markets is considering offering cryptocurrency futures in the U.S. and Europe in the coming months, Bloomberg News reported on Tuesday, citing people familiar with the matter. The commission-free trading app is hoping to use the licenses of crypto exchange Bitstamp, which it agreed to buy last month in a $200 million deal,…
(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee on Tuesday said he sees some “warning signs” of weakening in the economy, adding that the U.S. central bank’s goal is to get inflation down without stressing the labor market. “I see some warning signs the real economy is weakening,” Goolsbee told CNBC in an interview on…
(Reuters) – General Motors on Tuesday posted a slower rise in second-quarter U.S. sales, hurt by lower fleet sales to daily rental companies and a cyber incident at CDK that impacted dealers across the country. Overall sales rose about 0.6% to 696,086 units, compared with an increase of about 19% in the same period last…
By Jonathan Stempel (Reuters) – The former senior Apple lawyer who avoided prison time after pleading guilty to insider trading must pay a $1.15 million fine in a related U.S. Securities and Exchange Commission civil case, a federal judge ruled on Tuesday. U.S. District Judge William Martini in Newark, New Jersey, said that while Gene…
By Jonathan Stempel NEW YORK (Reuters) – Keith Gill, the investor known as “Roaring Kitty” who helped spur the meme stock mania of 2021, was sued by GameStop investors who said they lost money through his “pump-and-dump” scheme for the videogame retailer. A proposed class action accusing Gill of securities fraud was filed on Friday…
By Tim Hepher, Shivani Tanna and Mike Stone (Reuters) -Boeing agreed to buy back Spirit AeroSystems for $4.7 billion in stock and Airbus moved to take on the supplier’s loss-making Europe-focused activities, sending shares in all three companies higher in a rare transatlantic break-up. The near-two-decade independence of the world’s largest standalone aerostructures company ended…
(Reuters) – Google said on Monday it would make it mandatory for advertisers to disclose election ads that use digitally altered content to depict real or realistic-looking people or events, its latest step to battle election misinformation. The update to the disclosure requirements under the political content policy requires marketers to select a checkbox in…
